Summary of The Business Daily Newspaper -July 22,2025
Page 1: The Business Daily Newspaper -July 22,2025 reports that fifty-eight(58) Kenyan Saccos face account freezes and property auctions for defaulting on Sh1.36 billion owed to Kuscco due to a Sh13.3 billion fraud scandal. Top defaulters include Kencom, Nacico, and Maseno University Saccos, with the government intervening to stabilize Kuscco after arrests of four officials and a lawyer.
Page 2 : Notes that East Africa leads in cross-border mobility, with Uganda and Rwanda allowing ID-based movement, while Zimbabweans in South Africa face legal uncertainties. Regional bodies like the EAC have advanced free movement protocols, though political instability and policy inconsistencies remain hurdles.
Page 4 : Highlights Kenya’s new rule requiring tax deductions for non-resident ship owners to curb revenue leaks, while the Council of Governors opposes an audit of county bursaries, citing transparency issues. These reflect efforts to tighten tax compliance and governance challenges.
Page 5 : States that the KRA collected Sh1.1 billion from digital asset taxes (2023–2025), but the Finance Act 2025 replaced the 3% tax with a 10% excise duty on fees amid concerns over design and crypto market growth.
Page 6 : Details a High Court order blocking Autoport CFS’s monopoly on South Sudan-bound cargo, following a rival’s challenge over South Sudan’s directive to redistribute cargo shares from 80% to 20%.
Page 7 : Reports Ndovu Cement’s approval to build a 600-tonne/day clinker plant in Kajiado, aiming to cut import reliance amid rising taxes, with a limestone quarry to secure raw materials.
Page 9 : Reflects on management styles’ evolution, citing a 1967 Shell report’s four classic approaches, arguing modern theories have deeper roots than often assumed.
Page 10 : Explains Kenya’s new CBC curriculum introducing STEM, Social Sciences, and Arts streams for Grade 9, stressing mentorship to bridge education and career gaps for inclusive growth.
Page 12 : Notes Kenya’s pledge to cut emissions by 33% by 2030 despite minimal global contribution, leveraging EVs and route tech for climate resilience.
Page 14 : Reveals the KRA missed its Sh2.3 trillion tax target by Sh48 billion, blaming economic challenges and anti-Finance Bill protests after its withdrawal.
Page 18 : Describes Octavia Carbon’s DACC tech using geothermal energy to capture CO₂, scaling to 1,000 tonnes/year amid debates over its role in emissions mitigation.
Page 19-20 : Highlights Kenya’s hospitality brain drain as workers flock to cruise ships for higher pay and travel, straining local hotels post-pandemic.
Page 24 : Outlines Kenya’s tax dispute resolution process, including objections, ADR, and court appeals, with safeguards like auto-approval if KRA delays responses beyond 60 days.