Category: Business Daily

As Kenya pursues fiscal sustainability and economic transformation amid evolving economic realities, tax administration has a critical role to play.

While public discourse often centres on revenue collection targets and enforcement, one of the key pillars of a modern tax system remains the timely filing of tax returns. The deadline is fast approaching, and there has never been a more important moment to act.

Tax return filing is not merely a statutory obligation. It is the primary mechanism through which taxpayers declare their economic activities, self-assess their tax obligations, and contribute to the integrity of the country’s revenue system.

Within Kenya’s self-assessment tax regime, the effectiveness of tax administration depends on the accuracy, completeness, and timeliness of taxpayer declarations.

Beyond determining tax liability, tax return filing generates critical data that supports revenue forecasting, taxpayer segmentation, compliance risk assessment, and evidence-based policy formulation. A strong filing culture promotes transparency and accountability within the tax system, and each return filed on time strengthens that culture.

It is precisely this understanding that drives us to continuously simplify and enhance the filing experience at the Kenya Revenue Authority (KRA).

Traditional tax administration, characterised by manual processes and physical interactions, has rapidly given way to digital platforms and data-driven compliance systems that offer convenience, efficiency, and real-time service delivery.

Our work in the taxpayer experience function is guided by one clear principle: every taxpayer who wants to comply should find it easy to do so as the KRA moves from enforcement to empowerment.

At KRA, our objective is not only to collect revenue but also to create a seamless, predictable, and supportive tax environment that encourages voluntary compliance, equity, and trust. And as we approach this filing season’s deadline, KRA urges taxpayers to know that we have built the tools. We have set up the support. All you need to do is file.

To support return filing and improve compliance, the KRA has made significant investments in digital infrastructure aimed at simplifying taxpayer interactions.

One of the most notable developments this year has been the introduction of the KRA WhatsApp service platform. By leveraging one of the most widely used communication channels in Kenya, taxpayers can now access tax information, receive guidance, obtain support, and file their returns conveniently through their mobile phones, from wherever they are.

The platform is familiar, user-friendly, and readily accessible, enabling taxpayers to fulfil their obligations with greater ease. Recognising that accessibility is a key driver of voluntary compliance, the KRA has introduced its services on the *222# USSD Government portal. This is a transformative innovation that expands access to tax services, particularly for taxpayers who may not have smartphones, computers, or reliable internet connectivity.

Through a simple mobile phone, taxpayers can file nil returns, access selected tax services, and receive guidance on compliance requirements.

Tax compliance should not be constrained by technological barriers or geographical location, and with this service, it no longer is.

Another significant milestone is the introduction of pre-populated tax returns. By automatically incorporating verified information from third-party sources, this innovation shifts the taxpayer’s role from manually entering data to simply reviewing and confirming pre-filled information.

This significantly reduces the time, effort, and cost associated with filing returns, while improving accuracy and reducing the likelihood of errors. By integrating data from employers, financial institutions, and electronic invoicing systems (eTIMS), pre-populated returns create a more transparent, reliable, and efficient filing process, meaning there is even less reason to delay.

The iTax platform has also undergone major enhancements to simplify the filing experience. We have reduced the filing process from eight steps to only three, making it faster and easier for taxpayers to meet their obligations. Additionally, KRA has introduced a temporary relief measure for taxpayers filing returns for the 2025 Year of Income.

Ultimately, filing a tax return is not merely about meeting a legal obligation. It is about participating in nation-building, strengthening the integrity of the tax system, and contributing to the resources that support public services and economic development.

Under this measure, taxpayers will be allowed to declare legitimate business expenses that may not yet be supported by eTIMS or TIMS invoices at the time of filing. Such claims will remain subject to subsequent verification and audit processes to safeguard the integrity of the tax system.

By reducing the time, cost, and complexity associated with compliance, we are making it easier than ever for taxpayers to fulfil their obligations while significantly improving the overall taxpayer experience. But the tools only work if you use them.

With the deadline just days away, the Authority urges every taxpayer who has not yet filed to prioritise it today.

As the annual filing deadline draws to a close, taxpayers are encouraged to take advantage of the multiple channels KRA has established to facilitate compliance.

Last week, I began a review of the recently gazetted Government Owned Enterprises (GOE) Act 2025. To reiterate, the Act can fundamentally change public ownership by treating State-owned commercial entities more like accountable investment assets rather than than administrative extensions of ministries.

This means moving from political control to shareholder discipline: the National Treasury becomes the central ownership authority, reducing fragmented ministerial control and helping the government act more consistently as a shareholder.

A key element of the Act is the methodology of appointing independent non-executive directors (INEDs) to boards of the companies. The GOE Boards Search and Selection Panel was created under the Act to undertake the recruitment of these INEDs.

The Panel is made up of four non-public officers and one public officer appointed by the Cabinet Secretary of the National Treasury. The sixth member is a public officer from the ministry under which the GOE falls under and is appointed by the Principal Secretary of the relevant state department under the ministry.

The chair of this Panel is selected through a vote by the members, and only a non-public officer is eligible to be voted as chairperson.

Frank Mwiti, currently the chief executive officer of the Nairobi Securities Exchange, was voted in as the chairperson in April 2026. The Panel hit the ground running and immediately put up an advertisement asking members of the Kenyan public to apply for directorships in the GOEs.

As Kenyans happily apply for these roles, it would do them good to take note that the Mwongozo Code of Conduct that applied to parastatals and was not codified in law, no longer applies in the case of GOEs that are now operating as limited liability companies.

Folks, you are now walking into the jaws of the shark in the Kenyan Companies Act 2015.

Mwongozo was a guide, the Companies Act is the law and it legislates financial penalties for non-compliance with a number of its provisions.

The GOE Act mirrors the Companies Act in its requirements for financial transparency and record keeping as well as reporting and disclosure requirements. The Board must ensure accurate recording of transactions, financial position and performance.

Financial statements should be prepared and audited. Most importantly, our dear soon-to-be INEDs, related party transactions must be disclosed. These are transactions by the company with directors or close relatives of those directors.

The key ethos is that financial records should enable full transparency and accountability. So if Tom, your fellow director who charms the cotton socks off of everyone on the board, is a tenderpreneur his business interests must be disclosed. What happens if they’re not disclosed?

Under Section 635 of the Companies Act, the responsibility for the preparation of a company’s financial statements falls directly on the board of directors for both public and private companies. Financial statements must be prepared for each financial year.

Failure to do so carries a fine of up to Sh1 million for defaulting directors. Section 625 requires directors with material interests in a transaction to disclose the same. It gets better.

Further down the Act, Section 652 (4) states that if financial statements are approved that do not comply with the requirements of the Act, any director who knew of the non-compliance (or was reckless about it) and failed to take reasonable steps to stop it commits an offence and is liable for a fine.

And before you get your knickers in a twist about how could you have known that Tom the tenderpreneur was doing business with the company, it would be a good time to ask yourself whether you read the auditors’ reports, followed by a meeting and discussion with them before the accounts were signed off by the Board.

That is the whole premise of ‘recklessness’ for a director. Not exercising ‘care’.

One more thing, just in case you thought that you could lie low like an envelope and not get caught, the Companies Act allows a shareholder of a company to apply to the High Court for permission to sue the directors on behalf of the company.

Commonly known as a ‘derivative action’, this clause can be brought in respect of a cause of action arising from “an actual or proposed act or omission involving negligence, default, breach of duty or breach of trust by a director of the company.’

This goes beyond just tenderpreneur Tom’s activities, it goes into the overall role of a director in their governance mandate. For those directors who are in Nairobi Securities Exchange listed entities where the government is the majority shareholder, it would do good to take note of this provision that is available to minority shareholders.

The GOE Act now requires all the state owned companies to publish their accounts on their websites, in addition to the Cabinet Secretary publishing the same on the National Treasury’s website together with performance evaluations and appointment reports.

Dear soon-to-be INED, we get to know your name and how your directorship oversight role plays out in the annual financial performance. It’s no longer ‘business-as-collecting-sitting-allowance-usual.’

The Covid-19 pandemic exposed the fragility of healthcare systems worldwide. The World Health Organization joint statement on health, found that 66 percent of countries reported health workforce shortages as the primary cause of disruption to essential health services.

Recently, the outbreak of Hantavirus renewed public anxiety over potential quarantine and lockdown measures. Pandemic-driven lockdowns restrict movement, while the majority of the Kenyan population rely on physically attending health facilities to access care.

This raises a pertinent question: Is our healthcare system fully equipped to deal with pandemics?

Telemedicine is useful technology that enables the delivery of health services while overcoming geographical distance.

Technological innovations are transforming healthcare systems by improving the efficiency of service delivery and overcoming barriers to healthcare access.

Several forms of telemedicine currently in use include online pharmaceutical care, remote monitoring, and virtual appointments among others.

As smartphone ownership continues to increase, the population’s demand for, access to, and use of telemedicine will gradually grow. By overcoming the social, economic and geographical barriers that hinder patient-health provider access, telemedicine services should be continuously adopted within Kenya’s healthcare ecosystem.

Telemedicine will enable access to healthcare for more Kenyans, ensuring the optimal achievement of universal health coverage.

Despite not being fully established, telemedicine has been embedded in some public and private sectors, signifying its adoption. Public hospitals face a growing number of patients, long waiting times, and inadequate access to specialised care. With rising transport costs, regular hospital visits can be cumbersome, especially for patients in rural areas.

The Kenyan Taskforce on Mental Health reported that mental health accounted for 13 percent of the entire disease burden in Kenya yet primary care provides minimal health services in response.

MindFiti, a Kenyan digital health platform, addresses this gap by securely and anonymously connecting individuals with verified mental health professionals, thus breaking barriers of stigma and geography that keep mental healthcare out of reach for Kenyans.

Whereas the Kenya National eHealth Policy (2016-2030), Kenya Health Enterprise Architecture (2016), and Digital Health Act provide the frameworks for execution and regulation of e-health services in the country, they loosely regulate telemedicine.

The e-Health guideline issued by the Kenya Medical Practitioners and Dentists Union (KMPDU), aims to register facilities offering virtual medical services, including telemedicine. The benefits of telemedicine are critical to both policy and practice, and inefficient or improper legal frameworks for regulating telemedicine technology pose a threat to patient safety.

Telemedicine has yet to achieve its full potential due to social, economic, and technical challenges. These challenges include the high cost of electronic health systems and innovations, low information technology literacy amongst users and inadequate interoperability of health systems due to market fragmentation.

The writer is a pharmacist with expertise in regulatory affairs, quality assurance, and data science, affiliated with AfiaData and a member of the Pharmaceutical Society of Kenya

Thika Coffee Mills has lost its bid to recover more than $253,000 (Sh32.6 million) from a farmers’ cooperative society after the High Court found that its lending model trapped growers in a cycle of debt through a loan arrangement the judge declared harsh, unconscionable and oppressive.

At the same time, Buchana Coffee Growers Cooperative Society lost its counterclaim for $45,212 (Sh5 million) against the miller after failing to prove the losses and damages it sought.

The court ruled that the coffee miller had already recovered substantially all the money it had advanced to the cooperative and could not continue pursuing additional payments.

The dispute arose from a crop advance agreement signed in June 2014 after the cooperative appointed Thika Coffee Mills as its sole miller, crop developer and marketing agent.

Under the three-year agreement, the miller advanced the society $92,392 (Sh11.9 million) at an annual interest rate of 18 percent, with repayment to be made through deductions from coffee sale proceeds. The company also held a lien over all coffee delivered by the cooperative until the debt was cleared.

Triple role

Thika Coffee Mills accused the cooperative and its officials of breaching the agreement by diverting coffee to another processor, Sasini Limited, instead of delivering it for milling and marketing as agreed.

It claimed the diversion deprived it of the security underpinning the loan and sought $253,156, comprising the principal and accrued interest. It also sought an injunction compelling the cooperative to deliver all future coffee harvests until the debt was fully settled.

The miller said the cooperative’s officials allegedly colluded with licensing authorities to obtain movement permits allowing the coffee to be delivered to another entity, effectively depriving Thika Coffee Mills of its investment.

It said that although the defendants acknowledged the debt of $92,392 and promised to pay, they later sought a full waiver of the amount in a letter dated June 12, 2019.

However, the cooperative denied liability and argued that the company had abused its dominant position by acting simultaneously as lender, miller and marketer.

It told the court that the arrangement gave the company complete control over coffee proceeds while forcing the society into repeated borrowing after recovering earlier loans much faster than agreed. It argued that the company’s claim was based on unfair, coercive and unlawful practices.

The court accepted that argument after reviewing the evidence presented during the trial.

‘It was not disputed that the plaintiff occupied a triple role of miller, marketer and financier, making them the controller of the entire coffee value chain,’ the court said.

It found that the company recovered an earlier loan worth $122,952.88 in 13 months instead of the agreed three years, creating a cash-flow crisis that forced the cooperative to take additional loans.

Debt trap

Titus Ndung’u Machanga, the mills accountant at Thika Coffee Mills, testified that the company had recovered $383,467.57 (Sh49.5 million), comprising principal of $92,392.23 (Sh11.9 million) and interest of $291,575.30 (Sh37.6 million).

He maintained that the cooperative still owed $565,547 (Sh73 million), including the original principal and $473,154.77 (Sh61.0 million) in accrued interest.

‘This is clearly outrageous and unconscionable, and it would appear that the structure of the loans was designed to keep the society perpetually indebted,’ the judge said.

The court said the evidence showed the company had advanced about $559,093 through nine loans and recovered about $543,022.

It ruled that continuing to pursue another $253,156.79 was disproportionate because the company had already been substantially compensated.

‘In my view, this is not a case of a farmer borrowing and refusing to repay, but a case of a powerful miller entrapping a cooperative society in a cycle of debt,’ the judge said.

‘I am in agreement with the defendants that the interest rate of 18 percent per annum in the coffee sector context, where farmers receive proceeds annually rather than monthly, was predatory and designed to keep the society permanently in debt,’ the judge added.

The court also found that the company knew the cooperative’s borrowing limits required approval by members but still advanced loans exceeding those limits without producing evidence that the necessary resolutions had been obtained.

It further found that the miller exercised extensive control over coffee movement permits and coffee proceeds while recovering loans from farmers who had not benefited from the financing programme.

Failed counterclaim

The cooperative had sought to rescind the agreement, demanded accounts and claimed damages, arguing that the company converted individual farmers’ liabilities into debts owed by the entire society and failed to account for coffee sales and returned farm chemicals.

The court rejected those claims, saying the defendants had not produced sufficient evidence to justify damages and had themselves accepted advances from the company.

In their statement of defence, the cooperative said the miller introduced an Improve Production, Improve Quality (IPIQ) programme for farm chemicals and inputs, under which 483 members subscribed and received $122,952 worth of chemicals.

The cooperative said that instead of recovering the loan over the agreed three years, the miller recovered it in full during the first year by charging the society’s account.

The ruling comes as the government audits historical debts owed by coffee cooperative societies as part of wider reforms in the sector.

Cooperatives Cabinet Secretary Wycliffe Oparanya recently said only verified liabilities would qualify for settlement after an audit found that many claims could not be substantiated.

Kenya has kicked off preparations to build a tomb and a mausoleum for the late Raila Odinga in Kang’o ka Jaramogi in Bondo, Siaya County, revealing a mix of unique fittings and features of the facility to be built by the National Museum of Kenya (NMK).

Odinga, a former Prime Minister, long-time opposition leader, and a central figure in Kenya’s post-independence politics, died in October 2025 while receiving treatment in an Indian hospital. He was 80 and was accorded a State funeral.

Proposals seen by the Business Daily revealed that Odinga’s memorial tomb would measure six square metres and be clad in imported Italian Carrara marble– a coveted premium natural stone quarried in the Apuan Alps of Tuscany, Italy.

Carrara has a soft white look with feathery veins and has been used in many globally famous architectural marvels, such as The Pantheon in Rome, the statue of David by Michelangelo, and Marble Arch in London.

‘The entire tomb will be finished with marbles, as per the architects’ drawings and finishes schedule. The entire tomb structure, including horizontal and vertical surfaces, skirtings, copings, edges, shall be cladded with first-class ‘Italian Carrara’ marble,’ NMK said.

The Pantheon in Rome is one of the ancient world’s best preserved monuments, and its structure heavily relied on pristine white Carrara marble from Tuscany to line its exterior and shape its magnificent interior columns.

The iconic Statue of David, a 5.17 metres tall masterpiece by Michelangelo, was also carved from a single block of white Italian Carrara marble. The Statue of David, a biblical hero who slayed the giant Goliath, has been indoors at the Galleria dell’Accademia in Florence since 1873.

Disclosures showed that Odinga’s tomb would be enclosed in a stone-walled structure with a granite floor and would be accessed through a monumental double-leaf carved Lamu hardwood door measuring four metres by four metres.

The mega door would be constructed from seasoned mvule or mahogany hardwood with traditional Swahili or Lamu hand-carved decorative panels, incorporating six-millimeter-thick clear toughened glass infill panels, complete with heavy-duty hinges.

The tomb cubicle would have a bamboo-threaded screen wall.

The Odinga tomb will sit within a freshly built mausoleum whose external walls will be constructed from natural quarry semi-dressed blue stones, cut to block size: bedded and jointed in cement and sand mortar.

The NMK has proposed that the Odinga mausoleum will be fitted with a life-size sculpture of Jowi, a Luo word for a Buffalo. Jowi was Raila’s famous dirge, and he routinely chanted it at funerals.

The Jowi is a traditional Luo mourning chant that symbolises a “buffalo,” representing strength, courage, and fearlessness. In Luo culture, it is reserved exclusively to honor respected leaders, warriors, and elders who have led large, impactful lives and left behind a strong legacy.

NMK said the National Treasury has released funds for the Odinga mausoleum and tomb project, but did not reveal the amount.

A WhatsApp exchange between a supermarket employee and her former employer approving the use of her photograph for advertisements has sunk her claim that the retailer used her image without consent.

Ms Joyce Caroline Munjiru wanted the High Court in Thika to declare that Muhindi Mweusi Supermarket Limited breached her rights to privacy and dignity by using her image in Facebook posts and billboard advertisements.

However, the court dismissed her claim after finding that she had consented to the use of her image in a promotional campaign through written consent reinforced by a WhatsApp conversation with the retailer.

The court ruled that she failed to prove Muhindi Mweusi breached her constitutional rights to privacy and dignity by displaying her photograph on Facebook and a roadside billboard after she left its employment.

The court found that written consent signed by Ms Munjiru was reinforced by WhatsApp exchanges showing she approved the final image before it appeared in the company’s advertising campaign.

The ruling highlights the growing role of digital communications as evidence in employment and privacy disputes, particularly where parties contest consent for the commercial use of personal images.

Consent dispute

Besides seeking a declaration that the supermarket breached her constitutional rights by continuing to use her likeness after she resigned, Ms Munjiru also sought a permanent injunction barring the company from using her image in future advertisements.

She also sought general damages and Sh800,000 in compensation for the alleged breach of her constitutional right to privacy.

She told the court she had worked for the supermarket until August 2023 before resigning. According to her evidence, she later instructed the company to stop using photographs bearing her image because she was receiving no financial benefit while the business continued to profit from the advertisements.

She testified that the supermarket retained her image on its Facebook page despite her objections before removing it only after receiving a demand letter from her advocates on October 19, 2023.

She also told the court the company erected a prominent billboard at Witeithie along the Nairobi-Thika Highway on September 18, 2023, displaying her photograph without her permission. The billboard was later removed after her lawyers intervened.

During cross-examination, however, Ms Munjiru disputed the signatures appearing on documents produced by the supermarket, insisting she never signed a consent letter authorising the use of her image. She alleged the signatures had been forged.

Her husband supported her account, telling the court she had sought compensation for the use of her photographs, but negotiations with the supermarket failed.

WhatsApp evidence

The supermarket denied breaching her rights and maintained that she voluntarily agreed to participate in its promotional campaign.

Its operations manager, Simon Karanja, testified that the company formally sought Ms Munjiru’s consent on August 23, 2023, before using her photographs in social media posts and related promotional materials.

He told the court she signed the consent documents, attended a professional photoshoot and later approved the final billboard artwork sent to her through WhatsApp before it was printed.

‘The plaintiff returned a message to the effect that it was okay,’ the judge said while summarising the WhatsApp exchange relied upon by the supermarket.

The company further argued that she never withdrew her consent before the advertisements were published and that it removed the Facebook posts and billboard immediately after receiving the demand letter from her advocates.

It also told the court it incurred losses after terminating the billboard campaign early and commissioning replacement advertising material.

Burden failed

In the judgment, the court found that the plaintiff failed to discharge the burden of proving that she had not consented to the use of her image.

‘I have noted that the plaintiff argued that the signatures in the two letters were not hers and were forged. He who alleges must prove,’ the judge said.

The court noted that although Ms Munjiru alleged forgery, she did not produce handwriting expert evidence to challenge the authenticity of the signatures.

It also found that she did not deny that the WhatsApp number through which the final image was approved belonged to her or that she used it at the material time.

‘It is my considered view that the plaintiff gave her consent for her images to be used for the defendant’s business promotion,’ the judge said.

‘The plaintiff, having given written consent, ought to have withdrawn the consent in writing.’

The court further found that the supermarket used the photographs only for the purposes outlined in the consent documents, namely Facebook promotions and related advertising materials, including the roadside billboard.

Having found that Ms Munjiru failed to prove the absence of consent or any violation of her constitutional rights, the court dismissed the suit with costs in favour of the supermarket.

I’ve never been one to sit in the VIP section of anything. It draws too much attention to one. People gawk. So it felt oddly surreal to find myself seated in the VIP booth at Ciel Lounge in Nairobi’s Westlands last Friday night. My friend – who also happens to be my dentist – and I were there at the invitation of Antony Owich, the proprietor. My first time at Ciel, French for heaven.

There was already a full-blown party in motion. Ciel feels like the kind of place where a party is always in progress. It was bigger than it looked in photos, grander than I had imagined. A couple of brightly lit bars kept the crowd well lubricated. The place was packed, and people kept streaming in.

‘This isn’t even a busy night,’ Owich leaned over to say. ‘There are nights I can’t even walk down that path.’

He held court from the booth, facing the room. He was dressed in an all-black complete with sunglasses and sparkling earrings, like Boris Becker, the Belgian dancer and internet personality.

The crowd consists largely of people who have either always been cool their whole lives or have always wanted to be cool. And generally young, if not in age but in spirit. Lots of bottle service arriving at booths in a dramatic carnival. Hot babes. Lots. ‘It’s like a river of them,’ my friend said. If you stuck your leg in the aisle, your leg would be swept away by sheer beauty.

The music was excellent, with a deejay who knew the score. And the sound was especially terrific, loud enough for it to be a party but not for it to sound intrusive. Behind us, through the big windows, cars occasionally zipped past in the expressway.

Owich presided over this little kingdom, the night flowed around him. Calm, like a man watching his own fire burn.

Bottles of Glenlivet materialised from nowhere. Tequila flowed. Other cool people drifted by to kiss his ring and whisper in his ear.

A bouncer with an earpiece kept sentry outside our booth and, whenever Owich rose – even for a trip to the bathroom – the bouncer led the way.

Heaven, it turns out, needs someone to run it.

The High Court has overturned a Sh221 million tax assessment against East African Seed Company, handing the agribusiness a major victory in a dispute over value-added tax and withholding tax liabilities linked to a 2020 corporate restructuring.

The court set aside a decision by the Tax Appeals Tribunal and an earlier objection decision by the Kenya Revenue Authority (KRA), finding that the company had provided sufficient evidence to support its position on several contested tax issues.

The dispute arose after KRA assessed East African Seed for Sh221.2 million in VAT and other tax liabilities following an audit covering the period between 2016 and 2020.

A major issue was the transfer of the company’s seed business to Agriscope Africa Limited in April 2020.

KRA argued that the deal attracted VAT because it was not adequately proven that the transfer occurred before April 25, 2020, when amendments to tax law made transfers of businesses as going concerns subject to VAT at 16 percent.

The tax authority questioned the timing of key documents and pointed to inconsistencies in invoice dates and transaction records.

It argued that the company had failed to prove that the transfer took place before the legal change took effect.

East African Seed maintained that the deal was completed on April 21, 2020, four days before the law changed.

The company told the court that it had transferred assets, liabilities, employees, trademarks, goodwill, and its business operations to Agriscope, and had promptly notified KRA of the transaction.

The court ruled that the company had sufficiently demonstrated that the business transfer occurred before the tax law change and that it qualified for VAT exemption. It added that KRA and the Tax Appeals Tribunal had failed to properly evaluate the company’s evidence on VAT, withholding tax, and customs-related assessments.

‘I find that the appellant discharged its burden with contemporaneous documents which all bore dates before the effective date and that the tribunal placed undue weight on minor anomalies while under-weighting the evidence before it,’ the court said in the judgment dated June 19, 2026.

It found that the transaction qualified as a transfer of a business as a going concern and was therefore exempt from VAT under the law then in force.

The court also faulted the tribunal for rejecting the company’s claims on input VAT apportionment.

In addition, the court said East African Seed had provided reconciliation schedules supporting its tax position and that neither the law nor KRA had required audited accounts as a condition for considering those records.

‘Since neither the law nor the Commissioner expressly required audited accounts for this purpose, the Tribunal and the Commissioner had no valid reason to reject or not consider the Appellant’s reconciliation schedule,’ it said.

The ruling further addressed disputes over import data variances identified through the KRA’s Simba customs system.

KRA had argued that discrepancies between import records, VAT returns, and financial statements justified additional tax assessments.

However, the court found that East African Seed had supplied supporting documents, including customs forms, tax records, and reconciliations, and that the evidence had not been properly evaluated.

It also overturned KRA’s withholding income tax demand for the period between 2016 and 2019.

The court held that the tribunal failed to address a legal gap that existed after Parliament repealed provisions allowing KRA to recover unwithheld tax from a payer before similar powers were reintroduced in 2019.

Further, the court rejected KRA’s attempt to impose withholding VAT liabilities for 2016, finding that the retrospective application of the law raised concerns about legal certainty and could expose taxpayers to double taxation.

As Africa’s affluent class grows, more investors are looking beyond domestic markets to diversify risk, preserve wealth across generations and tap into global opportunities.

Picture a continent on the rise, where prosperity is driving new ambitions and transforming how wealth is managed. Africa’s affluent are no longer content to invest solely at home, they are reaching out to seize global opportunities and reshape the future of their fortunes.

Today, a new generation of investors is embracing a worldwide perspective on wealth creation and preservation.

According to Knight Frank’s Wealth Report 2026, the number of Africans with more than Sh390 million ($3 million) in assets is expected to rise by 15 percent over the next four years, reaching about 8,500 individuals. This growth reflects not only rising prosperity, but also more sophisticated approaches to wealth management across the continent.

This expanding affluent class is being driven by growth in sectors such as fintech, real estate, healthcare, energy, manufacturing, business process outsourcing and media. As wealth increases, so does the demand for more advanced financial solutions that can preserve capital, manage risk and unlock opportunities beyond domestic markets.

Today’s African investor is increasingly moving away from a narrow focus on local assets.

Portfolios are becoming more diversified across international equities, global fixed income, private markets, offshore property and alternative investments, reflecting a desire for resilience in an uncertain global economy.

This shift is not simply about chasing higher returns. It reflects a deeper change in mindset, where preserving wealth across generations is now as important as creating it. Wealth planning is therefore becoming more structured, forward-looking and globally integrated.

Some affluent families are also restructuring parts of their wealth and succession planning into more stable, internationally connected jurisdictions, while still maintaining strong investment links to Africa. This reflects the reality that many now have businesses, assets and beneficiaries spread across multiple countries.

Such complexity requires far more than traditional banking services. Families are seeking integrated advice that covers cross-border investment strategies, succession planning, family governance, philanthropy, alternative assets and intergenerational wealth transfer. Increasingly, they want advisers who act as long-term partners rather than product providers.

Globally, wealthy families are demanding institutional-quality advice, broader access to private markets, stronger governance support and coordinated cross-border planning. More than ever, they want strategic partners that can combine investment expertise, global market intelligence and long-term advisory support tailored to complex family wealth structures.

A modern approach draws on a robust advisory framework that takes a holistic view of clients’ needs, addressing priorities for today, planning for tomorrow, and safeguarding wealth forever.

This means supporting families as they capitalise on immediate investment opportunities, structuring portfolios for future growth and resilience, and ensuring legacy planning and intergenerational wealth transfer are seamlessly integrated.

As African wealth becomes increasingly global, affluent families require personalised insights, diversified solutions and proactive guidance to successfully navigate changing markets and regulatory landscapes, empowering them to secure their legacy for generations to come.

Technology is also reshaping wealth management. Research shows that 76 percent of ultra-high-net-worth families are comfortable using artificial intelligence tools to support investment decisions, provided there is human oversight. In addition, 81 per cent of family heads believe next-generation perspectives are now essential in shaping long-term wealth strategies.

The real opportunity lies in combining artificial intelligence with human judgement.

AI can process vast amounts of data, identify trends, support risk management and automate routine tasks. Human advisers, in turn, provide context, ethical oversight and values-based judgement that complex family wealth requires.

This blend is becoming essential in managing diversified portfolios across private equity, real estate, digital assets and other alternatives, while maintaining privacy and a long-term legacy focus.

Affluent investors increasingly expect institutions that combine human expertise with advanced technology, predictive analytics and digital investment platforms to navigate increasingly complex global markets.

Ultimately, African wealth is becoming more global as African ambition transcend boundaries. Entrepreneurs and investors are building businesses that are no longer confined by geography. They are creating enterprises and portfolios designed to compete internationally while remaining rooted in Africa’s long-term growth potential.

The key challenge for African economies is not to restrict capital from moving globally, but to build environments that attract and retain investment. Stable regulation, deeper capital markets, investor-friendly policies and strong financial services will be essential if Africa is to position itself as both a source of wealth creation and a destination for global capital.

In this evolving landscape, the future of African wealth will be defined by how effectively investors balance local opportunity with global diversification, and how well advisers support that journey with integrated, forward-looking and sophisticated wealth solutions.

Kenya has kicked off preparations to build a tomb and a mausoleum for the late Raila Odinga in Kang’o ka Jaramogi in Bondo, Siaya County, revealing a mix of unique fittings and features of the facility to be built by the National Museum of Kenya (NMK).

Odinga, a former Prime Minister, long-time opposition leader, and a central figure in Kenya’s post-independence politics, died in October 2025 while receiving treatment in an Indian hospital. He was 80 and was accorded a State funeral.

Proposals seen by the Business Daily revealed that Odinga’s memorial tomb would measure six square metres and be clad in imported Italian Carrara marble– a coveted premium natural stone quarried in the Apuan Alps of Tuscany, Italy.

Carrara has a soft white look with feathery veins and has been used in many globally famous architectural marvels, such as The Pantheon in Rome, the statue of David by Michelangelo, and Marble Arch in London.

‘The entire tomb will be finished with marbles, as per the architects’ drawings and finishes schedule. The entire tomb structure, including horizontal and vertical surfaces, skirtings, copings, edges, shall be cladded with first-class ‘Italian Carrara’ marble,’ NMK said.

The Pantheon in Rome is one of the ancient world’s best preserved monuments, and its structure heavily relied on pristine white Carrara marble from Tuscany to line its exterior and shape its magnificent interior columns.

The iconic Statue of David, a 5.17 metres tall masterpiece by Michelangelo, was also carved from a single block of white Italian Carrara marble. The Statue of David, a biblical hero who slayed the giant Goliath, has been indoors at the Galleria dell’Accademia in Florence since 1873.

Disclosures showed that Odinga’s tomb would be enclosed in a stone-walled structure with a granite floor and would be accessed through a monumental double-leaf carved Lamu hardwood door measuring four metres by four metres.

The mega door would be constructed from seasoned mvule or mahogany hardwood with traditional Swahili or Lamu hand-carved decorative panels, incorporating six-millimeter-thick clear toughened glass infill panels, complete with heavy-duty hinges.

The tomb cubicle would have a bamboo-threaded screen wall.

The Odinga tomb will sit within a freshly built mausoleum whose external walls will be constructed from natural quarry semi-dressed blue stones, cut to block size: bedded and jointed in cement and sand mortar.

Read: As Kenya mourns, Raila Odinga’s final chapter begins

The NMK has proposed that the Odinga mausoleum will be fitted with a life-size sculpture of Jowi, a Luo word for a Buffalo. Jowi was Raila’s famous dirge, and he routinely chanted it at funerals.

The Jowi is a traditional Luo mourning chant that symbolises a “buffalo,” representing strength, courage, and fearlessness. In Luo culture, it is reserved exclusively to honor respected leaders, warriors, and elders who have led large, impactful lives and left behind a strong legacy.

NMK said the National Treasury has released funds for the Odinga mausoleum and tomb project, but did not reveal the amount.