Summary Of The Business Daily Newspaper
Page 1: Reports that the fight for the SportPesa trademark has escalated with a shareholder alleging its fraudulent transfer from Pevans East Africa to a UK-based firm, prompting a suit seeking to reverse the sale on grounds of forgery and tax evasion.
Page 2: Reports that a staff redeployment at Kenya Re triggered a boardroom power struggle, resulting in the swift suspension of the CEO and HR manager by the board.
Page 4: Reports that Kenyans cut their additional voluntary pension contributions by nearly Sh1 billion in 2024, a drop attributed to the increased financial burden of higher mandatory deductions to the NSSF.
Page 5: Reports that the government is moving to amend the law to restrict civil servants, including teachers and police officers, from making unrestricted early withdrawals from their retirement funds, limiting them to 50 percent of their accrued benefits.
Page 6: Reports that the Retirement Benefits Authority is seeking legal changes to hold CEOs and accounting officers of State agencies accountable for Sh72 billion in unremitted pension deductions, with plans to involve the KRA in collection efforts.
Page 10: Reports that Jubilee Holdings will receive Sh4.5 billion from the sale of its general insurance businesses in four African countries to the joint venture Sanlam Allianz Africa, a deal initiated to avoid direct competition with the new entity.
Page 14: Reports that the value of Kenya’s fruit exports grew by 27 percent in 2024 to Sh41 billion, driven primarily by a substantial increase in avocado shipments.
Page 25: Reports that Kenya’s median age of 20 presents a major challenge for the insurance industry, which must adapt its traditional products to appeal to the different needs and digital-first habits of the large Gen Z population.