Kenya SME Compliance Guide: What Every Business Sector Must Know
Running a small or medium enterprise (SME) in Kenya comes with exciting opportunities — and equally important responsibilities. Every business, regardless of its size or sector, must comply with various legal, tax, and regulatory requirements. These rules are meant to create fairness, protect consumers, and ensure that enterprises contribute to national development. This guide breaks […]
New NSSF Contribution 2025 Rates: Impact on Salaries for Kenyans
As of February 1, 2025, significant changes to the National Social Security Fund (NSSF) contributions will take effect, impacting salaried Kenyans and their take-home pay. This is in accordance with the amended NSSF Act, which schedules an increase in contribution rates spanning a five year period beginning February 2024. This phased approach aims to enhance […]
The Cornerstone of Business: Good Financial Accounting
For any company, regardless of size or industry, good financial accounting is the bedrock of success. It’s the system that tracks the lifeblood of the business – money. But why is it so crucial? Firstly, good accounting provides a clear picture of a company’s financial health. Through financial statements like income statements and balance sheets, […]
The CFO: From Bean Counter to Business Partner – The Modern Role and the Power of Accounting Firms
The Chief Financial Officer (CFO) is no longer just the guardian of the company checkbook. Today’s CFO plays a strategic role, partnering with the CEO to steer the business towards success. Here’s how the CFO role has evolved: Beyond the Numbers: While financial reporting and compliance remain crucial, CFOs now analyze data to identify growth […]
Don’t Let the Kenya Revenue Authority (KRA) Knock Twice: Common Tax Return Mistakes to Avoid
Filing your tax return in Kenya can feel daunting, but avoiding these common mistakes can save you time, money, and stress: By staying informed and keeping good records, you can ensure a smooth tax filing experience. Remember, if you’re unsure about anything, consult a registered tax advisor familiar with Kenyan tax laws.
Why Financial Audits Matter: Building Trust and Strengthening Businesses
Financial audits are crucial for businesses of all sizes. They provide independent scrutiny of a company’s financial health, offering a clear picture of its financial standing. But what exactly are the benefits of internal and external audits? Internal Audits: Conducted by a company’s own staff, internal audits focus on improving efficiency and identifying areas for […]