When To Pay Capital Gains Tax...

A company sold its land and imagined it had paid the Capital Gains Tax it needed to pay. Then came the taxman with a shocker…

Good evening! It's Brian from The Kenyan Wall Street. Here are the business stories we have compiled for you today…

Justice

When To Pay Capital Gains Tax…

Fine Spinners, a Kenyan textile company, got hit with a surprise KSh 77.8M tax bill after selling land. They thought they were done in 2022, but KRA said, “Not so fast!” because the land wasn’t officially registered until July 2023—when the tax rate had tripled and the exchange rate was much higher, making the deal value way bigger.

The textile firm tried to defend itself claiming that the registration in July 2023 was a delay beyond their control but neither the KRA nor the tribunal thought this was a justification for anything.

Here is the full article»»»»»

Today's Poll

Markets  

Financial Results 

Jubilee Health Insurance

♦️In 2024, Jubilee Health Insurance reported a net profit of KSh 910 million, more than double its 2023 figure of KSh 438 million.

♦️Its pre-tax profit surged by 142% to KSh 1.22 billion, supported by digital innovations and customer-centric strategies.

♦️The company recorded KSh 13.94 billion in gross written premiums.

♦️The company also posted an insurance revenue of KSh 13.48 billion.

♦️With a return on equity of 19.45% and total equity rising to KSh 5.14 billion.

Here is the full report »»»»»

Sameer Africa 

♦️ Sameer Africa posted a KSh 259.9 million profit after tax in 2024, a 461% increase from KSh 46.3 million in 2023.

♦️ This was largely driven by KSh 83.6 million in unrealized forex gains and reduced finance costs.

♦️ Despite a slight 0.3% dip in revenue to KSh 389.5 million, cost of sales fell significantly, boosting gross profit.

♦️ However, operating profit declined by 14% to KSh 198.1 million due to higher expenses and reduced other income.

♦️ The company repaid all its borrowings, reducing total liabilities by 22% and increasing shareholders’ equity by 56% to KSh 735.6 million. 

♦️Cash reserves remained steady at KSh 61.1 million, and the board did not declare a dividend for the year.

Here is the full report »»»»»

ANALYSIS : China's Deflation

As inflation stabilizes across most major economies, China is taking a different path—into deflation. In March 2025, China’s Consumer Price Index (CPI) slipped for a second consecutive month, falling 0.1% year-on-year, while the Producer Price Index (PPI) dropped by 2.5%, its sharpest fall in four months. Here is a detailed analysis »»»»»

Markets at a Glance

🟢NASI +0.81%

🟢NSE10 +1.12%

🟢NSE20 +1.29%

🟢NSE25 +0.96%

Gender Parity

Kenyan Women and the Economy

Kenya has emerged third in Africa in the 2025 African Women’s Inclusion Index, scoring 73.7 overall and leading in East Africa. Strong performance in financial inclusion (86.1), bolstered by mobile money and programs like the Women Enterprise Fund, underpins this success. However, economic inclusion remains a challenge, with most women in informal jobs and limited leadership representation. Read more »»»»»

STATE APPOINTMENT : Dr. Mercy Mwangangi

Newly-appointed Health Cabinet Secretary Aden Duale has appointed former Chief Administrative Officer (CAS) Dr. Mercy M. Mwangangi as the new Chief Executive Officer of Social Health Authority (SHA). Mwangangi served under President Uhuru Kenyatta’s government as the CAS in the Health Ministry. Here is more »»»»»

Across Africa

♦️ Multilateral Bank African Export-Import Bank (Afreximbank) has commissioned its first Afreximbank African Trade Centre (AATC) in Abuja, Nigeria, as it sets its ambitions on similar projects across and outside the continent.

♦️ AfricaNenda, a nonprofit backed by the Gates Foundation, has accelerated digital payment systems development in five African markets including Rwanda, Cabo Verde, Mauritania, South Sudan, and the Central African Economic and Monetary Community (CEMAC) region.

♦️ South Africa is seeking Kenya’s support for its candidate, Bajabulile Swazi Tshabalala to replace the outgoing African Development Bank (AfDB) President Dr. Akinwumi Adesina.

On your watchlist

Yesterday's Poll Results

Do you think African markets will recover foreign investors during this 90-day period of relief, or will caution prevail?

🟨🟨🟨🟨⬜️⬜️ Yes (43%)

🟩🟩🟩🟩🟩🟩 No (57%)