Summary Of The Business Daily Newspaper -Aug 14,2025
Page 1: Reports Caring International, one of seven NESP contractors, won a medical equipment supply deal in October 2024. Its sole shareholder is Torotitch Ashley, though ownership changes were attempted pre-award. The specifics remain unclear.
Page 2: Reports Peter Mukuha Kago faces a Sh777M KRA tax dispute over Achievo Limited, threatening 2,000 Naivas jobs. The tribunal upheld a reduced claim, but Kago appealed to the High Court. The case highlights tensions over corporate tax enforcement.
Page 4: Reports CBK forecasts inflation below 5%, peaking at 5.2% in March 2026 before easing. Rate cuts to 9.5% reflect price stability, though oil and tariffs pose risks. The target band of 2.5%–7.5% remains achievable.
Page 5: Reports KCB’s H1 2025 net profit rose 8.1% to Sh31.5B, with a Sh12.85B dividend from NBK’s sale. Interest income grew 12.7%, but forex revenue fell 11.3%. Tanzanian expansion will absorb part of the NBK proceeds.
Page 6: Reports Treasury paid Sh19.7B to eight banks for a defaulted KQ loan, breaching guarantee laws. I&M got Sh5.45B, the largest share, as KQ had repaid just a third of its $225M debt. Critics decry misuse of emergency funds.
Page 8: Reports Baby formula prices fell 20% on shilling gains and retail competition. Brands now cost Sh150–Sh300 less per tin, with imports also dropping. Stable FX rates (Sh129/$1) drove the trend since late 2024.
Page 10: Reports KRA revenue hit Sh2.5T (+6.8%), but illicit trade slashed beer/tobacco taxes by 13.9% and 8.9%. Untaxed cigarettes cost Sh9B yearly, with Sh200B lost to financial flows. Manufacturers demand policy action.
Page 19: Reports Whisky gains popularity among Kenyan women via influencer marketing and refined flavors. Tasting events in Nairobi mimic wine-pairing dinners, reshaping social norms. EABL and rivals target this growing demographic.
Page 21: Reports Garissa camel farmers extract oil from bones/humps, creating skincare products. The coop produces 25L daily, cutting spoilage losses from meat sales. New revenue streams uplift local livelihoods.
Page 24: Reports Kenya will sell 65% of KPC via a Sh100B IPO in September 2025, valuing it at Sh154B. The monopoly posted Sh354B revenue in 2024, appealing to investors.