Can the Housing Element of the Big Four Agenda Lead Kenya into a Financial Crisis?

In September 2018, the central bank governor Patrick Njoroge was quoted saying that poor corporate governance in the banking sector can lead Kenya into a financial crisis.  His sentiments are not far from the truth since significant banks have come down due to poor corporate governance.  Chase Bank and Imperial Bank are perfect examples of how poor management can trouble Kenya’s financial sector. Although bad corporate…

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Roles, Responsibilities, and Duties of an Accountant: An insight for Kenyan SMEs

Kenya’s business environment is dominated by small and medium enterprises (SMEs) that account for over 90% of businesses in Kenya and create around 80% of the total employment.  Businesses under this category especially the small and micro enterprises do not engage professional accountants due to their constrained resources and the lack of knowledge. As a result, their businesses get in trouble due to the failure to…

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What Determines the Value of a Currency? Kenya Shilling Exchange Rate

Just like other commodities, currencies are traded in a market known as the foreign exchange market.   Globalisation of trade has necessitated the establishment of a platform through which currencies can be traded to facilitate international transactions. The exchange rate is either determined by the market forces or fixed by the government. The rate determined by the supply and demand forces is known as a freely floating…

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KRA Tax Incentives for Investors

Kenya Revenue Authority (KRA is always under pressure to collect revenue to reduce the budget deficit.  An increase in revenue empowers the government to implement projects in line with its mandate of improving people’s lives. Despite this pressure, KRA gives tax incentives to investors to encourage investment activities.  The amount of revenue collected by the tax authority is directly related to the growth of investment making…

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What is a feasibility study?

A feasibility study is an analysis that seeks to identify the viability of a project. It protects businesses from investing in projects that are not viable thus averting losses. Organisations face many opportunities that necessitate investigation aimed at identifying whether they are worth exploiting. Examples of projects that require feasibility study include a new product, plant establishment, and a new branch among others. Besides identifying whether…

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How to write a donor funding proposal

Our proposal Writing Services We write award wining funding proposals for nonprofit organisations. Contact us  now! Donor funding proposals are used for soliciting funds from donors. The ability to bring donors on board depends on the quality of a funding proposal. It is therefore imperative to understand the donors and identify what they look for when making decisions. What Donors Look for in a Funding Proposal…

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Why Your Business Needs to Register With KRA For VAT and Comply With Regulations

VAT is a tax on consumer expenditure that was introduced in 1990. Effective tax management is a key business success factor. It involves implementing strategies aimed at ensuring the tax does not adversely affect the pricing strategies and also ensuring compliant to avoid unnecessary fines.   Engaging a tax consultant on matters VAT management enables a business to exploit the opportunities presented by the tax and at…

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Understanding How KRA Zero rated VAT Works

Accounting for VAT requires a sound understanding of how the VAT concept works.  Failure to apply the right rules when calculating the tax liability can lead to fines which are detrimental to profitability.  The Kenya Revenue Authority (KRA) provides a clear guidance on accounting for zero-rated and exempt goods. Zero rating refers to the supply of goods taxable at the rate of 0%.  Suppliers of these…

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Why Should Kenyan Small and Medium Enterprises (SMEs) Outsource Accounting Services?

Businesses in today’s environment have embraced outsourcing accounting due to its positive impact on performance.  Outsourcing is concerned with contracting an external entity to perform non-core functions in the business process.As a result, the organization avoids maintaining an internal department to perform the concerned function. The accounting function is non-core in a business process and SMEs can outsource accounting services to enable them to focus on…

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