The Unending Sugar Saga

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The Unending Sugar Saga

By Brian Nzomo

A month after inspectors found a Kisumu refinery working at full throttle when a parliamentary inquiry had been told it was under maintenance, lawmakers have uncovered even more worrying details in their investigations into a controversial sugar consignment. Appearing before the National Assembly Departmental Committee on Trade, Industry and Cooperatives, KRA defended its clearance of the consignment and said that Mombasa Sugar Refinery Limited fulfilled all customs and regulatory requirements and paid about KSh500 million in import duty before the cargo was released. But the taxman exempted the consignment from a slew of other taxes amounting to nearly KSh 3bn in unexplained circumstances. Lawmakers also want to know why the consignment was stored in warehouses in Nairobi and Kisumu instead of being delivered directly to the refinery,

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The US-Iran War Flares Up Again

By Morris Kiruga

Just weeks after signing a much-awaited ceasefire that gave economies. and markets the world over hope of an end to hostilities, the United States and Iran are back to war. Each side blames the other for restarting hostilities, which have seen traffic through the Strait of Hormuz decline yet again. This time, the vital maritime chokepoint and military installations are not the only targets. The latest flare up now includes civilian infrastructure, including desalination plants, which provide fresh water to Gulf economies and are critical to the survival of their citizens and economies. The escalation in tit for tat attacks postpones the major issues the ceasefire deal sort to address for the long-term stability of the region yet again, forcing economies to recalibrate their short-term projections, and raising economic and security spillover concerns across the globe.

Read the full analysis about the new defunct ceasefire deal here >>>>>

What You Should Watch

Offshore banking is one of the most misunderstood topics in Kenya. Some people think it's only for the ultra-wealthy, others assume it's about hiding money. So, what's the truth?

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