Safaricom has issued a clarification explaining why M-Shwari is legally allowed to recover defaulted loans using funds held in a customer’s M-Shwari savings account. The clarification follows widespread complaints from Kenyans who reported that their M-Shwari savings were locked or unexpectedly deducted, raising public concern and debate on social media. According to Safaricom and its … Read more
Since President William Ruto took office in September 2022, Kenya has experienced a noticeable rise in company closures, exits, and downsizing, cutting across sectors such as energy, logistics, retail, manufacturing, fintech, and insurance. While global economic pressures like inflation, currency depreciation, and tighter global funding have played a role, many businesses have openly cited Kenya’s … Read more
The Kenya Revenue Authority (KRA) has temporarily suspended the filing of nil tax returns, a move that has sparked widespread debate among Kenyan taxpayers, especially students, unemployed citizens, and small business owners. Nil returns have long been a simple compliance requirement for individuals with no taxable income, making this suspension a significant policy shift. So, … Read more