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Why All Bank Deposits Are Taxable Unless Proven Otherwise
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Hello 👋🏽 It's Brian from The Kenyan Wall Street.
These are our day’s stories…
Why All Bank Deposits Are Taxable Unless Proven Otherwise
By Brian Nzomo
The Kenya Revenue Authority (KRA) is entitled to treat all money flowing into a taxpayer’s bank account as taxable income, unless the taxpayer explains otherwise, the Tax Appeals Tribunal has ruled. The Tribunal said that KRA may begin from the assumption that unexplained bank deposits represent undeclared income but it must test the evidence if the taxpayer provides a reasonable explanation backed by documents. The ruling came in a dispute between Konchor Kid Ltd, a management consultancy firm, and the tax authority, over a tax demand of KSh 345.7 million covering corporate income tax and VAT for 2022 and 2023.
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Safaricom's Market Valuation Briefly Crosses US$10bn
By Harry Njuguna
Safaricom PLC lifted its interim dividend to a record KSh 0.85 per share for FY2026, 54.5% higher than last year’s KSh 0.55, after posting its strongest half-year profits on record, a move that immediately pushed its shares to their highest level in almost three years. Investors priced in the upgrade instantly with Safaricom shares jumping 4.41%to KSh 31.95, after touching an intraday high of KSh 32.50, their loftiest level since 11 August 2022. Trading clustered around the stock, with 19.2 million shares worth KSh 614.1 million changing hands, close to half of total equity turnover for the session.
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INSIGHT: African women-led firms post growth, lag in private capital
By Brian Nzomo
Across Africa, women-led startups are quietly outperforming their male peers by posting faster growth and higher revenues, while raising a fraction of the capital. A new AVCA report shows that female-founded firms generated more than six times the growth of male-led companies in 2024, despite receiving 23 times less funding. The disparity reflects where power still sits: investment committees at large funds remain overwhelmingly male, and they back remarkably few women-led ventures. The result is a familiar paradox; women are building successful businesses, but men continue to control the cheque books as companies scale.
Read about it here »»»»»
On Your Watchlist
Heads Up
Upcoming Events : InvestKenya Announces the Upcoming Kenya International Investment Conference (KIICO) 2026
Taking place at the Radisson Blu Upper Hill on March 25, 2026, the 4th Kenya International Investment Conference (KIICO) 2026 is set to be the largest and most impactful investment promotion conference in Kenya’s history. Register here »»»»»
During KIICO 2026, Kenya will also host the 2nd COMESA Investment Forum on March 26 and the Africa Green Industrialization Initiative (AGII) on March 27th.
Read more about it here »»»»»
Today in History
Singapore is founded as a British trading post by Sir Stamford Raffles on behalf of the British East India Company, a colonial foothold that would ultimately evolve into an independent nation in 1965.
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