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Diaspora Remittances Hit A New Monthly Record

Kenyans abroad made record monthly remittances in May consolidating the inflows’ position as the highest foreign exchange source ahead of tea, official data showed yesterday. Monthly data released by the Central Bank of Kenya (CBK) showed that diaspora remittances reached $161.50 million (Sh16.78 billion) in May, a growth of 10.04 per cent compared to $146.76 […]

Dutch banking giant Rabobank, a leading food and agribusiness financier, has joined the list of Kenya’s Equity Bank Group shareholders. Rabobank will jointly with the Netherlands Development Finance Company, a government-backed institution also known by its Dutch acronym FMO and Norfund, own an 11.99 per cent stake in Equity Holdings. The shareholding in Equity Holdings […]

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From next year, Kenyans who work, do business or own property outside the country risk huge penalties for not disclosing their incomes for taxation back home. The Kenya Revenue Authority has given a one-year tax amnesty to December 31, 2017 for tax payers in the diaspora to file their returns for the year ended December […]

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A real-estate developer says Kenyans receiving money for property investments from relatives in the diaspora have turned into fraudsters, forcing many to stop investing. Enkavilla Properties chief executive Meshack Muhoho said investors have to engage established real-estate firms with past records of completed projects when seeking to invest back home. “Look at organisations with a […]

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Britain has welcomed Kenya’s assurances to deal with the skirmishes in Laikipia County ranches and conservancies. UK Foreign Secretary Boris Johnson, who held talks with his Kenyan counterpart Cabinet Secretary Amina Mohamed on Friday, said action taken so far by Kenya government on restoring law and order in the ranches owned by the British had […]

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