FUEL PRICES REMAIN UNCHANGED

Mathu Alex

https://on.soundcloud.com/kTkuX

The price of fuel in the country will remain unchanged this month after the latest review by the Energy and Petroleum Regulatory Authority (EPRA).

In a statement issued on Friday, the authority announced the hold despite a drop in the import costs which it said was against the inflation costs.

EPRA Director General Daniel Kiptoo stated that in accordance with Section 101(y) of the Petroleum Act 2019 and Legal Notice No.192 of 2022, the Energy & Petroleum Regulatory Authority (EPRA) has calculated the maximum retail prices of petroleum products which will be in force from 15th April 2023 to 14th May 2023.

He further added that in the period under review, the maximum allowed petroleum pump price of Super Petrol, Diesel and Kerosene will remain unchanged.

Subsequent to the hold in costs, a litre of petrol in the capital Nairobi will continue to be priced at Ksh.179.30, while diesel and kerosene will retail at a maximum of Ksh.162 and Ksh. 145.94 respectively.

Kiptoo further noted that the new prices had been subsidized across the fuel brands to cushion Kenyans from the high prices of a particular brand.

He stated that the price of diesel has been cross subsidized with that of Super Petrol while a subsidy of Ksh. 17.12 /litre has been maintained for Kerosene in order to cushion consumers from the otherwise high prices.

He further stated that the Government will utilize the Petroleum Development Levy to compensate oil marketing companies for the difference in cost.

https://www.citizen.digital/business/fuel-prices-remain-unchanged-in-latest-epra-review-n318015

Venturing into business

By Sherleen Maina

Everyone wants money, everyone wants to be rich and it is now clear that a 9 to 5 job is not it. The cost of living has gone up tremendously and people have really ventured into businesses to be able to live comfortably. Whether its an online business or one that you physically show up to, this is one of the few ways people have gained financial independence. According to the below survey, 63% of the people have ventured into businesses.

My data was mainly from students and some are attending their classes full time. That could be a solid reason why most have not ventured into businesses. Part of the 63% are also students who intend to make more money to support their upkeep and school and other activities.

Most businesses are not done online though. Social media is still a new concept to many people let alone have to run a whole business online. Many people however have been able to successfully run businesses and advertise them. Others have ventured into crypto trading and writing.

36% of the people have their businesses online which is a bit low especially for the current times where technology is the way in the world.

Not everyone has engaged in a business but in the above image you can see some of them and clearly not many people have ventured into online trading. I think its kinda sad although there have been many scams and people have ended up losing money. So understand why this would be a long shot but its worth a try. This online businesses can bring in reliable income. The ecommerce has reached a global GDP of 2.3% in 2020 and 2.5% in 2022.

Think Crypto

Sharon Okumu

If you’ve joined the crypto trend and you are planning to start trading in cryptocurrency, then this is for you.

We shall deal with how to properly read crypo charts majoring on the Japanese candlestick chart.

A candlestick chart is a style of financial chart used to describe price movements of a security, derivative or currency.

Candlestick charts are used by traders to determine possible price movement based on past patterns.

The Japanese candlestick is among the frequently used charts by crypto traders simply because it is very easy to understand.

The chart is made up of red and green candles. To interpret the chart you should be aware that a candle is represented in red when the closing price is lower than the starting price during a specified time frame. This means that the price of an asset declined.

In contrast,the green candle shows that the closing price was greater than the starting price. This indicates that thr assest’s price rose.The candlesticks forn several patterns and depending on the shape, colour and size of the candlesticks, traders take positions or make changes in their trading strategies.

https://www.trality.com

Traders push for a policy on tax raises

Vincent Adhiambo

Kenyan traders have infused a push for the implementation of a new tax policy following three rounds of unforeseen tax raises by the National Treasury.

The call follows a gazette by the National Treasury about the Excise Duty (Excisable Goods Management System) Amendment Regulations 2023, that set new fees charged on 14 categories of excisable goods including cosmetics, fruit juices, and alcohol.

The business groups now say the unsystematic tax changes are affecting their operations and demand the implementation of a national tax policy that will guarantee predictability.

The new stamp fee for tobacco products such as cigars, tobacco itself has been set at Sh5 per stamp as well as that of liquid nicotine, products containing nicotine, wines and alcoholic beverages made from fermented fruits.This is a big increase from the Sh2.80 stamp fee that cigarette products were being charged.
On the other hand Alcohol has been attracting a stamp fee of Sh2.80 per stamp,Beer will be charged Sh3, bottled water Sh0.5 while fruit juices, cosmetics, and beauty products Sh2.20.This is an increase from the Sh0.6 per stamp that cosmetics and beauty products have been attracting.

The Treasury collected views on a draft of the national tax policy, though it is yet to bring forth the final product from its engagement with stakeholders. The policy is expected to address the mixed reactions of the tax policies and measures which are not sustainable for businesses that require certain, predictable, and simple tax systems.

https://nation.africa/kenya/business/businesses-in-fresh-push-for-a-policy-on-tax-raises-4191788

Poultry farming as a source of income

Marion Kyalo

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  Chickens on traditional free range poultry farm

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Poultry farming is the form of animal husbandry which raises domesticated birds such as chickens, ducks, turkeys and geese to produce meat or eggs for food. Poultry, mostly chickens, are farmed in great numbers. Statistics show that more than 60 billion chickens are killed for consumption annually. There are layers which are reared for eggs and broilers reared for meat. Keeping poultry involves everything from building poultry pens to taking care of chicks, brooding, vaccination and selling of eggs, meat produced to consumers. 

Poultry farming in Kenya is assuming an essential part in the general Kenyan economy and satisfies the sustenance demand. Reports show that a few people are getting to be tycoons by commercial poultry farming in Kenya. A few people raise poultry for family consumption while a large portion of the farmers raise poultry commercially as a source of income.  

Poultry egg consuming rate is moderately higher than meat consumption in Kenya. However, the high cost of chicken feeds has made the poultry business a struggle for many farmers. Due to rising cost of production, Kenyan farmers have started to formulate their own feed. Making own feeds helps farmers to compete favorably in the market. The costly chicken feeds have contributed to the high prices in Kenya. 

Poultry farming has now become unsustainable. Some of the farmers have closed their businesses, cutting supplies of eggs. The poultry farmers therefore remain hopeful that the economy is going to be favorable to boost their way of life. 

https://en.m.wikipedia.org/wiki/Poultry_farming

Inflation In Kenya Businesses

Pauline Kihali

Food commodity

In March 2023, the annual inflation rate in Kenya was unchanged from February and reached a three-month peak of 9.2%. The figures exceeded the central bank’s favoured range of 2.5% to 7.5% and market expectations of 9.1%. While prices for alcohol and tobacco (8.7% vs. 8.5%) and food and non-alcoholic beverages (13.4% vs. 13.3% in February) continued to rise, there was a slight decline in prices for transportation (12.6% vs. 12.9%), housing and utilities (7.5% vs. 7.6%), and furniture and household equipment (7.5% vs. 8.8%), among other things. Consumer costs increased by 0.8% on a monthly basis, up from 0.6% the month before.

photogrid showing inflation in different years

In Kenya, household spending in both urban and rural regions forms the basis of the Consumer Price Index (CPI). The most important CPI component is Food and Non-Alcoholic Beverages. (33 per cent of total weight). Housing, water, electricity, gas, and other fuels account for 15% of expenditures, followed by transit at 10%, dining and lodging services at 8%, communication at 8%, and education at 6%. Alcoholic beverages, tobacco, and illicit drugs, clothing and footwear, furniture, household equipment, and maintenance, health, recreation, sport, and culture, insurance, and financial services, as well as personal care, social protection, and other goods and services, make up the remaining 21% of the total weight.

https://tradingeconomics.com/kenya/inflation-cpi

Kajiado county industrial open day

Fuad Kipruto

Are you a business person, entrepreneur or an investor looking to multiply your proceeds, well worry no more. The county government of Kajiado invites you to the 2023 Industrial Open day. Investors are going to be educated as well as advice on where and which company to invest in in Kajiado County. We invite you to invest in Kajiado county mining and get the best shares as well as best returns ever. Reports from the national treasury has revealed that Kwale, Kilifi and Kajiado will receive the lion’s share of the Sh2.9 billion mining proceeds held by the Treasury since 2016. The amount is 20% of all royalties collected by the ministry since 2016—Sh14.7 billion. Collectively, the three counties will receive Sh2.7 billion, which is 93% of what the counties are owed. According to the Mining Act, of 2016, sharing of mineral royalties is at a ratio of 70% to the national government, 20% to the county government and 10% to the community.

A legal lacuna has been blocking counties from accessing their share, but this has been resolved by the coming into force of the County Governments Additional Allocations Act 2022.This shows that if you are an investor the best place to put your investment is Kajiado county.

https://nation.africa/kenya/business/three-counties-to-share-sh2-7bn-mining-cash–4179582