Kenya tech news
Kenya Introduces Digital Tax for Online Sales
Sourced from Phys.org. Kenyan President Uhuru Kenyatta has approved the 2020 Finance Bill, proposing amendments to multiple statutes including the Income Tax Act, the Value Added Tax Act of 2013, the Excise Duty Act of 2015 and the Tax Procedures Act of 2015. The most notable aspect of the approval of this new bill is the foundation of the Digital Services Tax. This new bill will see the introduction of a digital tax at 1.5% the gross value of any online transaction. Taxing online transactions What this means is that people whose income is from the “provision of services and products” sourced through the digital marketplace will have to pay the tax. What’s more, the digital service tax will be payable at the time of transfer of payment to service providers. /* custom css */ .tdi_3_ecc.td-a...
A Future Reimagined for African Economies Post-COVID-19
The COVID-19 pandemic has crippled African economies but also offers an opportunity to reinvent economic systems on the continent and make small businesses more resilient, says VP and Senior Director for Economic Growth at Creative Associates International’s. “We are seeing digital solutions and transformation and awareness among political and business leaders that we can do things now that maybe we didn’t even imagine before,” Creative’s Jim Winkler says. “The pandemic has woken us up.” Speaking at the Corporate Council on Africa (CCA)’s Leaders Forum, Winkler explains that traditional global supply chains were highly efficient, but also vulnerable to a shock-like COVID-19, leaving producers in Africa with no way to sell their products amid the pandemic. Winkler says an “unexpected silver...
Zuku Could Soon Be Releasing an Android TV-Ready Decoder
Satellite and fixed internet provider Zuku seems to be looking into releasing a decoder loaded with Android TV in the future, combined with Google Play and YouTube. The service is available in Kenya, Tanzania, Uganda, Malawi & Zambia. Zuku is working on an Android TV box. Interesting stuff. But also it can end in tears. pic.twitter.com/IWkpxdiNNt — Kenyan Citizen 🇰🇪 (@BeingWesh) June 25, 2020 New images circling social media might give an indication of what this new product may look like, as well as what might be included in the box set. According to TechWeez, the product is set to be a decoder that is capable of running Android TV, Google Play and YouTube. No word yet if the decoder will be able to support the installation of any other streamings services like Netflix ...
Central Bank of Kenya Lengthens its COVID-19 Emergency Mobile Money Measures
Sourced from Forbes. The Central Bank of Kenya announced that it will extend the measures placed on mobile money transactions put forth back in March. Charges for mobile money transactions of up to KES1000 ($9,39) and the withdrawal of money between bank accounts and mobile money wallets. These emergency measures were put in place due to the COVID-19 pandemic and subsequent lockdown in Kenya. The initial announcement had the measures in place until 1 July 2020, but now the Central Bank is increasing the duration of the measures by 5 months until the end of the year, 31 December 2020. The Central Bank of Kenya says that in line with these measures: /* custom css */ .tdi_3_5fc.td-a-rec-img{ text-align: left; }.tdi_3_5fc.td-a-rec-img img{ margin: 0 auto 0 0; } There will be no charge for mobi...
Kenya Loses Over $900-Million to Illicit Trade According to Report
Sourced from Business Daily Africa. The Anti-Counterfeit Authority of Kenya has released findings of the National Baseline Survey on the extent of counterfeit and other forms of illicit trade in the country. According to the study conducted between October 2019 and February 2020, the Government revenue lost in 2018 stood at KES102.99-billion up from KES101.23-billion in 2017. Around $900-million each year. From the 16 sectors of the economy that the study concentrated on, the most affected were building, mining and construction. These three sectors were specifically and heavily affected by counterfeiting with a share of 23.37% in value of total illicit trade, followed by energy, electrical and electronics with a share of 14.67% in 2018. The sectors where most government revenues were lost ...
Energy Leaders Give Insight on the Future of Kenya’s Oil and Gas Transition
Sourced from Construction Review Online. Kenya’s oil and gas industry is in a state of transition, as its major oil and gas development — Blocks 10BB and 13T in Turkana — has been put on hold, with Tullow Oil submitting a notice of force majeure to the Kenyan Ministry of Petroleum and Mining, citing complications from COVID-19. Meanwhile, Uganda’s Lake Albert Project is moving ahead, with Total announcing plans to acquire Tullow Oil’s stake in the project. The massive development in Uganda, which is set to include a pipeline and refinery, could easily have an impact on regional oil and gas developments and opportunities. In a webinar, Kenyan energy industry leaders shared strategies and thoughts on how Kenya’s oil and gas sector can deal with the implications caused by COVID-19. According ...
