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High import costs loom as KPA plans to raise port fees

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The Kenya Ports Authority (KPA) intends to assess the fees it now charges for its services in order to account for factors including rising inflation and the depreciation of the shilling, which could result in higher importer costs

The authority claims that although the current tariff was approved in December 2012 and has been in effect ever since with a few minor adjustments, it is currently seeking to carry out a thorough review that will allow it to meet financial targets for cost recovery, guarantee profitability, and operational goals, all the while addressing service delivery to stay competitive.

For importers, who have previously experienced a decrease in the free storage time and an increase in the cost of loading and unloading items such ass such as cars.

The KPA is now seeking a consultant to advise on the new tariffs, which will run for five years between 2024 and 2028, allowing the port’s charges to reflect changes such as inflation, exchange rates, interest rates and technology.

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Economy

We are not taxing till numbers – KRA

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We are not taxing till numbers – KRA

The public is being cautioned by the Kenya Revenue Authority (KRA) about a widely shared post on the internet that purports to show that the taxman is now looking into Till numbers.

KRA made it clear in an official statement on X that these allegations are wholly untrue and advised the public to be caution when it comes to possible fraud.

“Not true. Till numbers are NOT subject to taxation, and KRA does not collect any such taxes. Beware of fraudsters purporting to do any of the above.”

The revenue authority directed citizens to verify KRA staff by dialling *572# or through their official website https://bit.ly/3W0Wvup

In September, the government proposed amending the Data Protection Act of 2019 to exclude KRA from its regulations, aiming to facilitate access to information.

The proposed change was to empower the tax agency to retrieve data from Kenyan citizens, including real-time details of financial transactions conducted through mobile money.

 

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Economy

Meat prices soar in Kajiado on livestock supply shortage

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Kajiado County is experiencing a severe livestock shortage, which has caused a dramatic increase in the price of meat.

A few “nyama choma” restaurants have also lowered the amount of meat they roast since they claim that higher prices have made fewer people able to buy the specialty.

Nairobi, Kiambu, and Machakos counties account for the majority of Nyama Choma’s clientele, which makes it a profitable business satellite town in Kajiado.

The continuous downpour that is plaguing the area and other parts of the nation has been blamed for the shortage. Because there is an abundance of pasture available, hopeful farmers are remaining there in hopes of reaping large rewards soon.

Most people recommend selling the animals whose health declined as a result of the protracted drought is a loss and it is prudent for one to wait to benefit from the current pasture.

The most affected are goat prices, where a mature goat weighing 20 kg used to sell for Sh13,000 and Sh15,000, but now it is selling for Sh25,000.

Goat meat, which used to sell for Sh600 per kilogram, now costs Sh800 at wholesale and Sh1,200 at retail. A calf now sells for between Sh27,000 and Sh30,000, down from Sh20,000 a month earlier.

In the Ilbisil market, the biggest livestock market in the region, cattle from Tanzania, a neighboring country, currently hold a strong position. Cattle from Kiserian and Emali livestock markets, as well as Taita Taveta, currently dominate the Kitengela market.

 

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Economy

Ruto grants Africa citizens visa-free access to Kenya

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By the end of 2023, all African people will be able to enter Kenya without a visa, according to President William Ruto, who made this announcement as part of a larger initiative to support regional integration and economic development in Africa.

He has already started putting the concept into practice by allowing reciprocal visa-free entrance to nationals of a number of other nations.

“Our children from this continent should not be locked in borders in Europe and also be locked in borders in Africa,” Ruto said while addressing a climate change conference in Congo Brazzaville last month.

The countries whose nationals are exempted from obtaining a visa are ranked as Category 1 countries by the Kenyan government.

According to Immigration Services department, Africa countries in this category are Botswana, Burundi, Ghana, Lesotho, Malawi, Mauritius, Namibia, Rwanda, Sierra Leone, Swaziland, Tanzania, Uganda, Zambia, Zimbabwe, South Africa, Djibouti, Eritrea, Congo-Brazzaville, Comoros, the Democratic Republic of Congo, Senegal and Angola.

Abolishment of visa requirements is expected to facilitate the realisation of the African continental Free Trade Agreement (AfCFTA).

Across the continent “It is time we realise the importance of trading among ourselves and allowing goods, services, people and ideas to move freely across the continent,” Ruto emphasised.

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