CBK Calls for Public Input into Financial Derivatives Regulations 2022

Interested parties in the financial derivatives regulations 2022, have a week to submit their comments on the draft regulations. The deadline for the submission of the feedback to the Kenya Revenue Authority Commissioner general is the 30th of this month. The Finance Act 2022 introduced a 15% withholding tax on income from financial derivatives contracts […]

Collective Management Organisations to Register Afresh with KECOBO

All collective management organizations CMOs who collect royalties on behalf of artistes have until Oct 25th to register afresh, a move expected to restore normalcy in the industry and ensure gains for the local and international artists for their works in Kenya.  This follows a court ruling allowing the Kenya Copyright Board to carry out […]

CBK Licenses 10 Digital Money Lenders

As the licensing process for digital lenders continues, with the coming to effect of The Central Bank of Kenya (Amendment) Act, 2021, the Central Bank Of Kenya is reporting that it has so far licensed 10 out of the 288 applicants, which translates to a mere fraction of the numerous providers in a sector that […]

Insurance Regulatory Authority Intensifies Fraud Crackdown Through IFIU

In its ongoing efforts to rid the Kenyan Insurance sector of fraud, the Insurance Fraud Investigations Unit, IFIU has arrested and charged two persons for the offense of conspiracy to defraud and obtaining credit by false pretenses.  An inquiry file for the two accused Grace Atieno Okal and Gladys Atieno Mboya indicates that on diverse […]

Capital Markets Authority Fines Former Chase Bank Directors, Audit Firm

The Capital Markets Authority (CMA) has fined top officials of the defunct Chase Bank reporting accountants Deloitte and Touche over their alleged role in the issuance of a Sh10 billion medium-term bond in 2015. Those fined by the regulator include former Chase Bank managing director Duncan Kabui Sh5 million and disqualified him from being director […]

Lobby challenges appointment of new Kemsa CEO

The Kemsa warehouse in  Embakasi, Nairobi/ kemsa.co.ke  NAIROBI, Kenya May 26- A lobby group has moved to court to challenge the appointment of Terry Kiunge Ramadhani as the Kenya Medical Supplies Agency’s (Kemsa) new Chief Executive Officer. Sheria Mtaani, a non-governmental organisation aimed at giving a voice to the less privileged, says in a case […]

KRA to miss out on billions in case against betting firms

Times Tower building in Nairobi, Kenya/ Courtesy.  NAIROBI, Kenya May 17- The Kenya Revenue Authority (KRA) has lost its bid to collect billions from betting firms for the period between 2018 and 2019 following a High Court ruling.  High Court judge David Majanja ruled that during the period, tax on winnings did not involve the […]

Former NSSF manager denied bail in Sh2.6 billion graft case

Former NSSF investment manager Francis Moturi and Discount Securities LTD director David Githaiga before chief magistrate Lawrence Mugambi at Milimani Law Courts on January 31, 2022/ The Star NAIROBI, Kenya May 4- Former National Social Security Fund (NSSF) investment manager Francis Moturi is set to remain in prison pending the determination of his appeal against […]

Lobby group moves to block Arao’s appointment to head KCAA

KCAA offices in Nairobi, Kenya/ kcaa.or.ke NAIROBI, Kenya Apr 25- The Kenya Civil Aviation Authority (KCAA) board has named Nicholas Bodo as its acting Director-General. This comes after a court blocked the appointment of Emile Nguza Arao over the alleged abuse of office and financial misappropriation. Bodo, who is currently the Director of Air Services […]

Sign Up To Our Newsletter

Get notified about our new articles !