THE STANDARD By
Kirsten Kanja |
February 3rd 2021 at 15:48:08 GMT +0300
CS Peter Munya (PHOTO: Wilberforce Okwiri)
NAIROBI, KENYA: Non-deposit taking Saccos holding deposits worth Sh100 million and above have up to the end of June to apply for an authorisation to operate from the Saccos Societies Regulatory Authority (Sasra).
This follows the publication of the SACCO Societies (Non-deposit taking business) regulations, 2020, which took effect on January 1, 2021.
Non-deposit taking SACCOs refer to those that take deposits from members only in the form of share capital. These amounts are refundable to members only when they leave the SACCO. On the other hand, deposit-taking SACCOs, besides undertaking the traditional roles of SACCOs (mobilization of savings and advancement of loans to members), also actively mobilize and receive withdrawable deposits. This kind of operation is popularly known as FOSA (Front Office Service Activity) in Kenya, while the former is known as BOSA (
Dr.John Odero Ong ech (Photo: Wilberforce Okwiri)
Stress from baby responsibilities
The birth of Njeri’s baby came with lots of chores. The baby needed to be fed, bathed, changed and attended to when she cried.
But with her husband’s baby’s-are-a-woman’s-responsibility attitude, Njeri found herself the lone person to do everything. That she did not have a house help compounded her mystery even more.
“We could not afford a house girl back then. So, house chores and baby chores, were squarely sitting on my lap,” she says. “I had to quit my job because I just couldn’t be a wife, a homemaker, a mother and an employee at the same time.”
THE STANDARD By
Correspondent |
February 1st 2021 at 11:35:32 GMT +0300
BOC MD Marion Gathoga (PHOTO: Wilberforce Okwiri)
Carbacid Investments Plc (CIL) shareholders have approved the acquisition of up to 100 per cent of the shareholding of BOC Kenya Plc (BOC) in an offer announced last November.
The proposal was approved at CIL’s 49th shareholders’ annual general meeting (AGM).
BOC produces and supplies industrial, medical and special gases while CIL’s main operating subsidiary Carbacid (CO2) Ltd produces natural food-grade carbon dioxide extracted from natural underground reservoirs.
Last November, CIL and Aksaya Investment LLP notified BOC of their intention to make a joint takeover bid to acquire up to 100 per cent of the shares of BOC, being 19.52 million ordinary shares with a par value of Sh5 for a cash consideration of Sh63.50 per share (offer).
THE STANDARD By
Amos Kareithi |
January 16th 2021 at 00:00:00 GMT +0300
Professor Charles Odidi Okidi, the author of In pursuit of Excellence. [Wilberforce Okwiri, Standard}
Walking with donkeys for whatever distance is not an easy task. It is less complicated than a rural boy learning to ride a bicycle in a village where such a device is a novelty, only seen when dignitaries came calling.
Peers agree that Prof Charles Odidi Okidi was not an ordinary boy and were not shocked that he mastered the two feats at quite an early age. And obstinate he was!
How else would one describe a boy who could persuade a heard of donkeys to neigh and bray their way from Karachuonyo, Homa Bay County to Kisii only to exchange them for basket full of cereals.
THE STANDARD By
Wainaina Wambu |
January 13th 2021 at 09:48:33 GMT +0300
KRA Headquarters in Nairobi (PHOTO: Wilberforce Okwiri)
The Kenya Revenue Authority (KRA) has pinned hopes on new taxes and waivers introduced this month to shore up revenues in an economy hit hard by the Covid-19 pandemic.
KRA missed its tax collection target by over Sh186 billion since March, when the virus was first reported in Kenya, according to the taxman’s data for the eight months to November 2020.
The beginning of this month saw KRA roll out the minimum tax, digital services tax and the Voluntary Tax Disclosure Programme (VTDP), where taxpayers get relief on penalties and interests on undisclosed taxes dating back to July 2015.