Electronic Tax Invoices (ETIMS) | Business Redefined

The sunset date for mandatory onboarding on the electronic tax invoice management system (eTIMS) was 31st March 2024. As at March 26th, 190,000 tax payers had been onboarded on eTims, 26,000 of whom onboarded via the informal economy targeted channels of USSD & eTIMS lite. This means that starting 1st April 2024, any tax payer who is required to & does not issue an electronic invoice will face the steep penalty of two times the tax due as per the provisions of Sec 86 (2) of the Tax Procedures Act. We delve deep into eTIMS, what appears to be low uptake, & tax administration.  
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Episodes
Prospects for Africa in 2024 | Business Redefined On this episode, prospects for Africa's economy in 2024:
  1. Debt distress, global market access & looming risks from tensions in the Middle East
  2. East Africa as an outperformer (200.0bps above SSA), what are the drivers?
  3. Inflation, foreign exchange & monetary policy divergence
 April 23, 2024
Africa's Economic Pulse | Business Redefined This week we delve into a discussion with World Bank's Chief Economist for Africa:
  1. Developments in the Middle East & implications for Africa
  2. The annual Spring Meetings. Any hopes for tangible outcomes on resolution of debt distress?
  3. The FX clawback by a number of currencies in Africa. Here to stay or passing cloud?
  4. Over a dozen elections in 2024, political risk & just how much the domestic revenue mobilisation agenda  can be pushed in a heavily 'political year'
 April 16, 2024
Debt distress & restructuring | Business Redefined Debt distress vulnerabilities have become elevated in the recent past as frontier markets struggle with servicing dollar denominated maturities at a time when the global markets have been broadly shut and impeding efforts to refinance. In Africa, Ghana, Zambia and Ethiopia have defaulted and are in the process of undertaking debt restructuring. With growing concerns regarding the global financial architecture and the prolonged process of debt restructuring, this episode of Business Redefined explores what an alternative framework for debt distress resolution could look like and what the asks from debt economies should entail. April 9, 2024
Health Insurance & Personal Financial Planning | Business Redefined On this episode, we delve into health insurance & personal financial planning. Product development, market uptake & also IFRS17 & its impact on Kenya's health insurance sector. A conversation with Jubilee Health Insurance CEO, Njeri Jomo. March 28, 2024
Open access & bulk supply | Business Redefined On this episode, we speak to the MD & CEO of KenGen on a raft of issues:
  • Open access, bulk supply & what it means for the company
  • HY2023/24 earnings
  • Regional expansion & venturing into Tanzania
  • Heavy Capex understanding, FX exposure
 March 19, 2024
Kakamega International Investment Conference 2024 | Business Redefined On this episode, we discuss the upcoming Kakamega International Investment Conference 2024. Our guest Fernandes Barasa, Governor of Kakamega county delves into the vast investment opportunities in the county. March 14, 2024
Sustainability reporting: unpacking IFRS S1 & S2 | Business Redefined This episode on sustainability reporting - unpacking IFRS S1 & S2: IFRS S1, the two-stage approach, materiality of information & comparability of what's reported. IFRS S2, data availability challenges & events of uncertain outcomes. February 28, 2024
Scenarios for Kenya in 2040 | Business Redefined What are the prospects for Kenya's economy in the medium-term? The Institute of Economic Affairs, IEA Kenya, posits that there are four possible scenarios that could materialize. The first is the 'Madaraka Realized' scenario where state capacity improves and there is greater economic freedom with a private sector led economic growth model; the second is the 'Jua Kali Kingdom' where there are favorable policy reforms but the state is ineffective and institutions are weak preventing the implementation of the favorable reforms; the third is 'Managed Stagnation' where state capacity improves but policy direction is not supportive of a well developed private sector leading to failure in Industrialization of the economy & finally the 'Eastern Sunset' scenario where the state is ineffective and policy environment is not conducive to development of a vibrant private sector. For more on this, we speak to the IEA Kenya CEO, Kwame Owino. February 21, 2024
Kenya's US$2.0 billion Eurobond maturity | Business Redefined Big week ahead for Kenya as we expect the pricing & size of the new Eurobond note as well as the outcome of the repurchase of the 2024 note. This episode, a detailed historical perspective on the US$2.0billion June'24 maturity February 16, 2024