Summary Of The Business Daily Newspaper -Aug 19,2025
Page 1: Reports indicate that the Nairobi Securities Exchange (NSE) has surged to a three-year high, gaining Sh1 trillion in a year as investors shift from low-yielding government bonds to equities, driven by falling Treasury bill returns. The top 10 companies, including Safaricom and KCB, accounted for 84.7% of the Sh1.02 trillion growth, with their combined market capitalization reaching Sh2.62 trillion.
Page 2: Highlights the performance of the NSE’s richest companies, showing Safaricom leading with a market cap of Sh486.8 billion, while the top 50 firms contributed 44.7% of the total gains over the past year. The data underscores the dominance of major counters in the exchange’s rally.
Page 3: Reports reveal that the National Treasury has restricted the use of tax refunds to offset Kenya Revenue Authority (KRA) dues, clarifying that such offsets apply only to taxes directly borne by the taxpayer and not third-party withheld taxes like VAT or income tax. This decision has sparked criticism from tax experts, who argue it could undermine revenue collection and create administrative challenges for withholding agents.
Page 4: Notes indicate that Kenya’s tax revenue rose by 7.5% in July 2024, reaching Sh171.5 billion despite disruptions from anti-Finance Bill protests, marking an improvement from the previous year’s 2.8% growth. The increase occurred amid public unrest over police brutality, though the full impact of the protests on revenue collection remains unclear.
Page 5: Reports indicate that Kenya will receive Sh10.3 billion ($80 million) over five years from the Beginnings Fund to enhance maternal and child healthcare, part of a larger $500 million initiative targeting 10 African nations. The funding aims to improve survival rates, prevent stillbirths, and provide quality care for 34 million women and babies by 2030, with Kenya’s program focusing on Reproductive, Maternal, Newborn, Child, and Adolescent Health.
Page 6: Reports reveal that the legal battle over Kebs’ multi-billion goods inspection tender has escalated to the Court of Appeal, with Turkish firm TUV Austria Turk seeking to halt the award to Japan’s QISJ after its High Court case was dismissed on technical grounds. The tender dispute comes as Kebs reported record 2023 revenues of Sh6.9 billion, with 17% coming from PVOC royalty fees, highlighting the high stakes involved. The contested tender, initially advertised in January, represents significant business potential, as Kebs’ inspection services generated Sh29 million in the 2019/2020 fiscal year alone.
Page 7: Reports indicate that the High Court has ordered Safaricom and Airtel to release withheld Skiza and Hello Tune revenues to artists, following the dismissal of a lawsuit challenging the revenue-sharing formula. The ruling enforces a 2022 Copyright Act amendment requiring artists to receive at least 52% of ringback tune earnings, while telcos get 39.5% and service providers 8.5%, ending a dispute that had frozen payments since May.
Page 11: Notes highlight how Harambee Stars’ CHAN tournament success was fueled by President Ruto’s financial incentives (Sh1 million per win), demonstrating how personal rewards can align with team objectives to drive exceptional performance. The article draws parallels to corporate leadership, emphasizing that organizational success depends on connecting strategic goals with employees’ personal motivations and aspirations.