Afternoon business highlights – January 9, 2018

Afternoon business highlights – January 9, 2018

Kenya’s betting tax highest in the region – PwC

Kenya’s betting tax is the highest in the region and ahead of gaming hubs like the famed Las Vegas, a new report from PricewaterhouseCoopers (PwC) has revealed. The consultancy firm says the new 35% tax on all gambling revenues is higher compared to other African countries like South Africa which charges 9.6%, Rwanda 13%, and Uganda 20%.

ERC to  implement uniform charges for electricity

The Energy Regulatory Commission (ERC) will implement a new tariff that will have uniform charges for domestic electricity customers, eliminating a subsidy that has for long helped to keep power bills for small consumers low.The largest domestic power consumers currently pay eight times more compared to low users in a tariff plan where the rich pay steeply for poor homes to enjoy the subsidy.Low power consumers (using 50 units and below per month) currently pay Ksh2.50 per kilowatt hour (kWh), known as lifeline tariff, which is a long-running government policy tool to cushion the poor from high costs.

Kenya Power names Ambassador Mahboub Maalim Mohamed new Chairman

Kenya Power today named Ambassador (Engineer) Mahboub Maalim Mohamed as its new Chairman. A former Permanent Secretary in Ministry of State for Special Programmes in Office of the President, Ambassador (Eng.) Mohamed has replaced Hon. Kenneth Marende who served as the head of the national electricity distributor since December 2014.Eng Mohamed, 60, was elected to the Board by the Company’s shareholders during an Annual General Meeting held last month. He is the 26th Chairman of the Board of the 98-year-old power utility company.

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