Connect with us

Business

VIDEOS: Amb Githae lauds Kenya USA Diaspora Sacco for “contributing over Sh 300M to Kenyan economy”

Published

on

BY BMJ MURIITHI

Outgoing Kenyan Ambassador to the United States Robinson Githae has commended the Kenya USA Diaspora Sacco for its role in supporting the economy back home.

Speaking at the 6th Annual General Meeting of the  Sacco  in Boston, Massachusetts, Githae challenged other  Kenyans living and working abroad to join societies and pull resources together in order to realise bigger goals.

“I am happy to announce that the outfit has pumped over Shs300m into the Kenyan economy,” said the envoy.

The SACCO Chairman, Mr Simon Kariuki Nyaga, said that the members are, “without a doubt, glad they invested their money in the organization.”

“We have different ways through which members are benefiting. Many of them are already owning homes – especially through our signature project, Fadhili Homes – after borrowing their own money from the Sacco and repaying the same at very affordable rates,” said Mr Nyaga, a Nairobi based businessman and a Diaspora returnee.

Embu Governor Martin Wambora, who represented the Council of Governors (COG) at the event challenged Kenyans abroad to partner with county governments and invest in programs geared towards achieving the Central government’s Big Four Agenda.

“The Sacco has already signed Memoranda of understanding (MoUs) with six counties and is ready to invest  in housing, manufacturing, agriculture and tourism, among other sectors,” he said, adding: “In Embu we have set aside 16 acres of prime land  for development right in the heart of Embu town.”

READ ALSO:   VIDEO: New song Warns Kenyan women who disrespect their husbands in the Diaspora

Many of the founder members present expressed optimism that the Sacco would be an example of unprecedented success stories coming from the Diaspora.

“We want to be a conduit. We want the Kenyan government to recognize our efforts,” said  Raphael Kilondu, the Honorary Secretary to the Sacco.

“We plan to venture into projects which will make real sense. We will get involved in infrastructural development and even create employment for the youth,” he added.

This comes at at a time when some Kenyans in the Diaspora have lost their money after investing through unscrupulous individuals or organizations which have ended up swindling them. Read: FBI now invited to probe Kenyan firm that promised investors the moon but delivered false hopes.

According to information posted on its website, the Kenya USA Diaspora Sacco seeks to promote investment opportunities and savings among Kenyans residing in the United States of America “so that they can have a reliable and organized way to invest, access to affordable credit, carry out projects, build businesses, or meet personal and family needs in Kenya.”

According top data posted on the Kenya’s Central Bank website, Kenyans in the diaspora send home more than $2 billion annually but most of it goes to charities and family support obligations such as school fees, medical bills and general philanthropy. Watch:

READ ALSO:   How things fall apart for Kenyans in US

 

 

Related video:

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

DPP Haji now targets Keroche power couple with Sh14 billion tax evasion suit

Published

on

DPP Noordin Haji has ordered for the arrest and arraignment of Keroche Breweries directors Tabitha Karanja and Joseph Karanja for allegedly evading taxes amounting Sh14.45 billion since 2015.

In a statement to newsrooms, the DPP said investigations revealed that the directors could be culpable of 10 counts of tax fraud between January 2015 to June 2019.

The DPP said the KRA commissioner general submitted an inquiry file to his office on August 18 and an audit by KRA established that Keroche Breweries had evaded payment of tax tallying to Sh14,451,836,375.

The amount evaded, according to the DPP, included stamps valued at Sh329,424,019, Crescent Vodka brand valued at Sh135,402,950 among other products registered under the company.

The exercise duty evaded on the said products, according to KRA, amounted to Sh2,101,846,768 billion.

IN PUBLIC INTEREST

The DPP says that he is satisfied that there is sufficient evidence and that it is in the public interest to charge the suspects with 10 counts of tax fraud contrary to the Tax Procedures Act of 2015.

For more than a decade, Keroche has been battling with Kenya Revenue Authority over tax arrears the brewer owes the taxman.

In 2017, a three-judge Court of Appeal bench ruled that KRA had abused its powers by sending a tax demand of the three tax heads and penalties amounting to Sh1.1 billion through a letter dated November 29, 2006.

READ ALSO:   Check the results for the U.S. Green Card Lottery 2018 (Diversity Visa 2018) here

The ruling was the third in the 10-year battle in favour of the brewer, which gave them a fresh lease of life to the 20-year-old Keroche.

The letter was dismissed as unreasonable because it had come without an accompanying schedule of details of the said assessment and without proper notices.

The revenue authority had appealed an earlier decision by the High Court on July 6, 2007, where Justice Joseph Nyamu had prohibited the taxman from demanding the taxes, citing “abuse of powers”.

The taxman, who was also demanding an additional Value Added Tax of Sh305 million, was basing the tax bill on an assessment carried out in 2006, where some Keroche products had allegedly not been given the right classification, hence being subject to lower taxation.

by nairobinews

Continue Reading

Business

SPONSORED: “Mahiga Homes” wins 2 coveted Real Estate Awards [VIDEO]

Published

on

The Leading Real Estate Developer Mahiga homes Ltd won two major coveted awards in The Real Estate Excellence Awards, namely:

1. Best in off plan Residential Sales
2. Best low cost low rise Residential Developer.
This comes in the wake of being recognized internationally by being awarded The Leading Real Estate Brand 2019 by UK based ranking company Global Brand Awards.
This makes Mahiga homes Ltd the best company with the most Awards totaling to 7 since it started operations 2 years ago.

The previous awards are:
KPRA Awards
1. The Rockie of the Year 2018
2. Affordable Housing Initiative

 

Real Estate Excellence Awards 2018
1. Most Promising Residential Developer 2018
2. Best Low Cost Residential Developer 2018

www.mahigahomes.co.ke
+254720460413

READ ALSO:   VIDEO: New song Warns Kenyan women who disrespect their husbands in the Diaspora
Continue Reading

Business

SPONSORED: Optiven Foundation feted for transforming lives across Kenya

Published

on

Optiven Foundation has been feted for it’s role in transforming the society. This was at The Voice Awards held at the Louis Leakey auditorium in Parklands Nairobi on 16th August 2019. The event which was the first to be held in Kenya by it’s owners based in Netherlands, attracted a number of dignitaries and was officially addressed by the Deputy President Dr. William Ruto.

The award to Optiven Foundation was received by the Optiven Group General Manager, Mary Wacukah who is also a trustee of the Optiven Foundation. Speaking shortly after receiving the award Mrs. Wacukah “this award is a true reflection of what the foundation stands for which is to make a difference in the lives of the community.

” She commended all those who support the endeavors of the foundation which she noted has been a great input towards ensuring that the community we live in is a better place saying, “The Optiven Foundation is supported by Optiven Limited and well wishers who come together to ensure that our brothers and sisters live in dignity and their lives are transformed.

Truly when giving you do not just do it for the other person, but it also teaches us to be grateful for what we have.” While appreciated the trustees and philanthropists, she added that the foundation is wholly supported by Optiven Limited where 5% of all profits from real estate are used to cater for the myriad needs of the Optiven Foundation.

READ ALSO:   How things fall apart for Kenyans in US

voicesawards

Mrs. Wacuka was accompanied at the event by the Chairman of Optiven Foundation, Mr. George Wachiuri, Ms. Jerusha Abasalom – the Diaspora Manager, top associates of Optiven Limited and who are also philanthropists in their own right Mr. James Mugo and Mr. John Owiro and Ms. Joyce Njambi, the team leader for the Optiven Foundation among others.

Ambassador Pastor Elvis Iruh, the founder of The Voice Magazine in the Netherlands and who partners with Moving Minds Africa to bring the award to Kenya congratulated the team from Optiven Foundation saying their impact in society cannot be underestimated. Ambassador Iruh further noted that the team from Optiven had been receipient of another award which was bestowed to the Chairman Mr. George Wachiuri in 2019 at the Le Koning Hotel at the Hague in the Netherlands in 2018.

He added that both Mr. Wachiuri and the Optiven Foundation had been leaving print marks in the lives of people across the world with the work they are doing in transforming lives through philanthropy. He singled out the efforts to renovate and rehabilitate children living at the Soweto Children’s Home in Kayole where the Optiven Foundation has built classrooms and dormitories as well as provided the daily needs for the children who are fully dependent on the foundation.

READ ALSO:   Kenyan man in US: Yes, I defrauded two Universities of over Shs 75 Million

voice awards2

ABOVE: Partners visiting with the Optiven Foundation ahead of The Voice Awards ceremony at the Louis Leakey Auditorium on 16/8/2019

The Optiven Foundation works with the less fortunate in society in order to make their lives better.  Since it’s inception, the foundation has worked in the areas of environment, health and education among others. With key partnerships with different counties, the foundation has been involved with various cleanups including in Kajiado County and Nairobi County.

In adherence to the UN Millenium Development Goals, the Optiven Foundation has adapted environmentally friendly models on all it’s projects including use of biodigesters to save on water, afforestation to increase forest cover as well as participating in community projects that ensure sustainability. With regard to education, the Foundation launched the Soaring Eagles Program with the key mandate to provide opportunities for education for students who have challenges in paying for their education but are keen on performance.

Over the years, Optiven Foundation has given scholarships to students across the country and in every country. On matters health, the Optiven Foundation has provided support to communities through hosting medical camps, monetary support to cover health matters, civic education on the importance of insurance especially covering medical matters as well as community facilitation to persons living with disability. Through it’s Mobility that Brings Smiles campaign, Optiven Foundation has been able to partner with different associates to provide those living with disability with wheelchairs.

READ ALSO:   FEP: FBI now invited to probe Firm that "used the Bible to promised investors the moon but delivered false hope"

Through partnerships with individuals of good will, the foundation has since donated wheelchairs to deserving cases in Nairobi County, Nyeri County, Machakos County and Kiambu County. As the need for the said wheelchairs is immense the foundation is seeking partners to further spread the mobility that brings smiles through enabling persons living with disability to be able to be mobile.

To Support the Foundation Contact Us

Optiven Group Foundation
Head Office: 
Barclays Plaza, 14th Floor ,Wing A
Tel: +254 20 2484022, +254 718 776033
Email: info@optivenfoundation.org

Continue Reading

Do you want to own an affordable home in Kenya?

Are you looking for a Church to fellowship in Atlanta Metro Area?

poapay3

Like us on Facebook, stay informed

NEWS TRENDING RIGHT NOW

2019 Calendar

satellite-communication1.jpg

Trending

error: Content is protected !!