Investments

APRIL 3 – Tesla sales have plummeted to their lowest level in three years after a backlash against its boss Elon Musk. The electric car maker delivered almost 337,000 electric vehicles in the first three months of 2025, a 13% drop from a year ago. Tesla shares tumbled in early trading on Wednesday after the…

NAIROBI, Kenya, April 1 – The Kenya Revenue Authority (KRA) is working on simplifying the Pay As You Earn (PAYE) filing system that discourages MSMEs from submitting returns. KRA Commissioner General Humphrey Wattanga explained the intricate PAYE system, which discourages compliance and creates an administrative burden for small businesses. “Our aim is to simplify this…

NAIROBI, Kenya Mar 31 – In Kenya’s dynamic financial landscape, more investors are becoming intrigued by the opportunities offered by currency trading. The allure of exchanging global currencies has grown significantly as internet penetration increases and individuals seek new avenues for financial growth. Yet, as appealing as forex markets may be, they come with inherent…

MAR 30 – The UK would not hesitate to retaliate against US tariffs if needed, according to Downing Street sources. The government is in last-minute negotiations with the White House ahead of a 25% tax on car imports and threats of wider tariffs on other goods on 2 April. It is trying to get an exemption, arguing…

MAR 29 – Elon Musk says that his AI venture xAI has acquired his social media platform X, formerly known as Twitter. In an X post Friday, Musk said the all-stock transaction values xAI at $80 billion and X at $33 billion. Musk paid $44 billion for Twitter in 2022. “xAI and X’s futures are…

NAIROBI, Kenya, Mar 28 – Commissions earned by Bolt drivers will henceforth attract 16 percent value added taxes (VATs) after the passage of the 2023 Electronic, Internet and Digital Marketplace Supply Regulations. Over the past 15 months, Bolt has absorbed the VAT obligation on behalf of drivers, cushioning their earnings. The application follows a guidance…

NAIROBI, Kenya, Mar 27 – DIB Bank Kenya (DIBBK), a subsidiary of Dubai Islamic Bank PJSC, has reported a net profit of Sh103.4 million for the year ending December 31, 2024, a turnaround from a Sh256 million loss in 2023. The bank attributed this growth to increasing customer confidence in Shariah-compliant banking and a steady…

NAIROBI, Kenya, Mar 26 – Liberty Kenya Holdings has announced a 108.5 percent rise in profit after tax, reaching Sh1.402 billion, up from Sh672 million in 2023 for the financial year ending December 31, 2024. The company attributes the growth to strong investment gains, increased insurance earnings, improved claims experience, and disciplined cost management. Likewise,…

NAIROBI, Kenya Mar 25 – The Central Bank of Kenya (CBK) has warned commercial banks against failing to lower interest rates in line with monetary policy adjustments under the Risk-Based Credit Pricing Model (RBCPM). Appearing before the National Assembly Finance Committee, CBK Governor Kamau Thugge said the regulator has launched onsite inspections to ensure compliance…