Search Results for: Kenyan

The huge offshore finance leak unveiled last month (October 3) by the International Consortium of Investigative Journalists (ICIJ) has highlighted the risks major companies face when doing business in offshore jurisdictions. Keith Nuthall and Andreia Nogueira report.

Major companies undertaking international business must comply with increasingly tough beneficial ownership transparency laws, and risk reputational damage if they are associated with particularly elaborate devices to avoid tax, even if it is legal.…

The huge offshore finance leak unveiled yesterday (October 3) by the International Consortium of Investigative Journalists (ICIJ) and its media partners has highlighted the pressures AML reporters face in complying with increasingly tough beneficial ownership transparency laws.

Reports generated from 2.94 terabytes of data within 12 million documents leaked to the ICIJ from the confidential records of 14 offshore service providers have been analysed by 600 journalists from 150 media outlets in 117 countries.…

Demand for paints and coatings in Kenya is set to recover this year from the impact of Covid-19 epidemic, being driven by the rebound of building construction and other civil engineering works that require use of paints, the Kenya National Bureau of Statistics has predicted.…

THE RULING council of the International Cocoa Organisation (ICCO) is preparing to agree major reforms to the International Cocoa Agreement, which should see the agreement increase its commitment to boost sustainability in the chocolate sector.

Council members are considering final changes committing the ICCO to ensuring that cocoa production, processing and manufacture is socially, economically and environmentally sustainable.…

AFRICA’s clothing and textile sector has been hit hard by Covid-19, with an emerging production industry being hit by falls in demand and disruption in supply chains. India-based market researchers Mordor Intelligence concluded in a report assessing the African industry’s prospects for 2021-5 that “disruption of the Covid-19 pandemic on global value chains and its impact on African businesses is already evident.”…

AS every small business owner knows, marketing and sales is a tough task, especially when the day-to-day delivery of services to existing clients takes up so much time. Hiring a full-time marketer is also beyond the means of most small businesses.…

TEXT fraud is maybe more dangerous that email fraud, given the tendency for mobile phone users to respond to texts swiftly and without careful thought, cyber-security experts warn.

The Covid-19 pandemic has also created opportunities for fraudsters using texts and messaging services such as WhatsApp to launch fishing and other attacks on the unwary.…

Taking up a new job where you are responsible for overseeing how a business operates in three countries during a global health pandemic is not a task many financial professionals would take on lightly. But that is what Busola Doregos, a Nigerian accountant working in Uganda has just done. …

THE UNITED Nations’ Food & Agriculture Organisation (FAO) has proposed creating a permanent ‘observatory’ monitoring cocoa markets, assessing value and costs, to help chocolate sales revenues be more equitably distributed throughout supply chains.

In a report called a ‘Comparative study on the distribution of value in European chocolate chains’, the FAO said such “objectified and cross-checked data” would aid “a multi-stakeholder discussion” at national and global levels on revenue sharing.…

KENYA’S clothing manufacturing industry, which had been growing at the cutting edge of sub-Saharan Africa’s expanding outsourcing sector, has been punched hard by Covid-19’s devastation of the garment markets within the United States and the European Union (EU).

The London-based Overseas Development Institute has noted that “garment factories in Sub-Saharan Africa have started laying off workers,” and Kenya is no exception.…