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Day: August 25, 2023

KRA’s Dynamic Move: Real-Time Surveillance on Mobile Money Transactions for Enhanced Tax Compliance
Africa

KRA’s Dynamic Move: Real-Time Surveillance on Mobile Money Transactions for Enhanced Tax Compliance

The Kenya Revenue Authority (KRA) has embarked on a groundbreaking initiative to closely monitor transactions within mobile merchant accounts, including…

byakintundeAugust 25, 2023August 25, 2023
Shilling’s Slide Spurs Currency Gains: Tier One Banks Record Substantial Earnings Boost in H1 2023
AfricaCurrency

Shilling’s Slide Spurs Currency Gains: Tier One Banks Record Substantial Earnings Boost in H1 2023

Tier one banks in Kenya have experienced a noteworthy surge in currency gains, amassing a total of Ksh 14.5 billion…

byakintundeAugust 25, 2023August 25, 2023
Pyrethrum Power Surge: Kentegra Biotechnology Secures $15 Million Financing for Blossoming Growth
AfricaAgriculture

Pyrethrum Power Surge: Kentegra Biotechnology Secures $15 Million Financing for Blossoming Growth

Nairobi-based pyrethrum pioneer, Kentegra Biotechnology, is set to receive a significant boost with a financial injection of Ksh 2.1 billion…

byakintundeAugust 25, 2023August 25, 2023
NBK Reports Ksh 3.84 Billion Loss, Hit by Compensation Payout; KCB Evaluates Capital Injection
Africa

NBK Reports Ksh 3.84 Billion Loss, Hit by Compensation Payout; KCB Evaluates Capital Injection

National Bank of Kenya (NBK), a subsidiary of KCB Group, has announced a net loss of Ksh 3.84 billion for…

byakintundeAugust 25, 2023August 25, 2023
Kenya Power Seeks Government’s Help to Convert Dollar Debt Amid Depreciating Shilling
Africa

Kenya Power Seeks Government’s Help to Convert Dollar Debt Amid Depreciating Shilling

Kenya Power, the country’s power distribution company, is actively seeking the assistance of the government to convert a portion of…

byakintundeAugust 25, 2023August 25, 2023
Central Bank of Kenya Gains Enhanced Powers to Vet Beneficial Owners and Regulate Large Cash Transactions
Africa

Central Bank of Kenya Gains Enhanced Powers to Vet Beneficial Owners and Regulate Large Cash Transactions

The Central Bank of Kenya (CBK) has been granted expanded authority to scrutinize not only directors and senior managers but…

byakintundeAugust 25, 2023August 25, 2023
Access Bank Ghana Reports Strong Half-Year Financial Performance with 65.4% Growth in Profit Before Tax
Africa

Access Bank Ghana Reports Strong Half-Year Financial Performance with 65.4% Growth in Profit Before Tax

Access Bank Ghana has announced robust financial results for the first half of 2023, reporting a significant growth of 65.4%…

byakintundeAugust 25, 2023August 25, 2023
UBA Partners with UNDP to Empower Youth and Women-led MSMEs in Ghana and Promote Climate Financing
Africa

UBA Partners with UNDP to Empower Youth and Women-led MSMEs in Ghana and Promote Climate Financing

United Bank for Africa (UBA) Plc has entered into a Memorandum of Understanding (MoU) with the United Nations Development Programme…

byakintundeAugust 25, 2023August 25, 2023
Boosting Export Trade: Nigerian Customs Service to Expedite Local Commodities’ Quick Export
Local

Boosting Export Trade: Nigerian Customs Service to Expedite Local Commodities’ Quick Export

The Free Trade Zones (FTZs) Committee, focused on reshaping Nigerian Customs Service (NCS) operations, has recommended the immediate allowance for…

byakintundeAugust 25, 2023August 25, 2023
NCC’s Local Content Initiatives Bolster Telecom Sector: Ban on SIM Imports Spurs Job Creation
Local

NCC’s Local Content Initiatives Bolster Telecom Sector: Ban on SIM Imports Spurs Job Creation

The Nigerian Communications Commission (NCC) has revealed that its strategic policies, particularly those focused on local content development, have yielded…

byakintundeAugust 25, 2023August 25, 2023
Reviving Tax Amnesty Scheme and Renewed Hope: Nigeria’s Fiscal Policy Reforms”
Local

Reviving Tax Amnesty Scheme and Renewed Hope: Nigeria’s Fiscal Policy Reforms”

The Federal Government has unveiled plans to reintroduce the national tax amnesty scheme, as revealed in a statement released on…

byakintundeAugust 25, 2023August 25, 2023
Rising Tide of Financial Fraud: Nigerian Banks Grapple with 24,232 Cases in H1 2023
Local

Rising Tide of Financial Fraud: Nigerian Banks Grapple with 24,232 Cases in H1 2023

Nigerian banks have been besieged by a surge in fraud incidents during the first half of 2023, totaling 24,232 cases,…

byakintundeAugust 25, 2023August 25, 2023
Manufacturing Sector Unemployment Crisis: A Deep Dive into Nigeria’s Employment Conditions
Local

Manufacturing Sector Unemployment Crisis: A Deep Dive into Nigeria’s Employment Conditions

The Manufacturers Association of Nigeria (MAN) has revealed a concerning decline in the Current Employment Condition, indicating a drop from…

byakintundeAugust 25, 2023August 25, 2023

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