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  • Kenya smallholder tea farmers earn Sh63.6 billion from tea exports

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Adopt good financial management to avoid failure, accounting body urges SMEs

 

By Today Financial News Reporter

Most Small and Medium Enterprises (SME’s) have failed to get loans from financial institutions because of poor financial management and lack of a clear standard to gauge their viability.Trade minister Charau Mwakwere (centre) launches a handbook to assist SMEs. The sector faces numerous challengesTrade minister Charau Mwakwere (centre) launches a handbook to assist SMEs. The sector faces numerous challenges

According to the International Accounting Standards Board, most do not adopt efficient and reliable methods of presenting their financial statements.

Arab development partners spend Sh12 billion to build three main roads

 

By Ben Kinyanjui

Three roads funded by a group of Arab development partners at a cost of Sh12 billion have been completed in the last seven years, Roads permanent secretary Eng Michael Kamau has said.Eng Michael Kamau, PS Roads has supervised the construction of key roads across the countryEng Michael Kamau, PS Roads has supervised the construction of key roads across the country

Top on the list is the 100 Kilometer Emali-Oloitoktok road project jointly funded by BADEA, OPEC and the Government of Kenya at a cost ofSh4.3 billion.

Pension schemes record increased earnings but penetration remain low

By Today Financial News Correspondent

Assets in the pension industry have increased by over 300 per cent in the last ten years from Sh100 billion to Sh450 billion last year mainly due to improved management of pension funds and p ublic a wareness. Finance minister Uhuru Kenyatta. Pension funds are now better managed  Finance minister Uhuru Kenyatta. Pension funds are now better managed

Pension schemes managers have also diversified their investment portfolio to include the risk-free government securities like Treasury bills and bonds where they account for about 27.6 per cent of outstanding government securities.

High inflation rate forces workers in most urban centres to seek cheaper housing

By Ben Kinyanjui

 

High inflation rate has forced workers in most urban centres in the country to seek cheaper housing in the outskirts, says Hass Property index report for the third quarter of this year.

High inflation rate pushing workers to the outskirtsHigh inflation rate pushing workers to the outskirts

Also affected by the inflationary and currency pressures is the entire construction industry that has slowed down due to low demand for houses as well as high cost of building materials.

Massive investment in energy required to realize Vision 2030

 

By Today Financial News Reporter

Kenya requires about Sh5.7 trillion for development projects necessary to realise Vision 2030, says Prime Minister Raila Odinga.

Prime Minister Raila Odinga. The country requires additional powerPrime Minister Raila Odinga. The country requires additional power

A huge chunk of that money would be used to generate and distribute power that is required to connect households and run industries.

Book publishers cry foul over proposed Value Added Tax (VAT) on books

 

By Ben Kinyanjui

 

Book publishers have opposed planned Government move to slap a 16 per cent Value Added Tax (VAT) on textbooks saying such a step would increase prices by 50 per cent.

High costs of books to affect free primary education programmeHigh costs of books to affect free primary education programme

The publishers under the Kenya Publishers Associations argue that the proposal contained in the draft Value Added Tax Bill 2011 will push book prices up and jeopardize the gains made under the free primary education programme.

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