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Blow to KRA as court stops Sh21 billion minimum tax
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Kenya Court Scuppers President Kenyatta s Minimum-Tax
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Kenyan High Court Rules Minimum Tax Is Unconstitutional
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THE STANDARD
BUSINESS
Kenya Airways planes at Jomo Kenyatta Airport(JKIA), Nairobi. [Boniface Okendo, Standard]
Kenya Airways is in talks with its lenders to extend moratoriums on repayment of loans, with demand in the aviation industry still heavily affected by the pandemic.
The airline expects its revenues to remain subdued this year.
KQ said it was able to conserve more than Sh6.5 billion last year following moratoriums it got from banks as it sought mechanisms to enable it to cope with the adverse effects of Covid-19.
The airline got an initial six-month moratorium to October 2020 that was extended by another nine months to June 2021. Most of its leaders only agreed to a moratorium on the principal loan amount. The carrier had to continue paying interest.
Kenya Plans $12.4 Billion External Loans by June 2022, IMF Says
Bloomberg 2 hrs ago David Herbling © Bloomberg Street vendors sell second-hand clothing on a shopping street in downtown Nairobi, Kenya, on Saturday, Dec. 5, 2020. Kenya is seeking a loan of as much as $2.3 billion from the International Monetary Fund under the lender’s extended fund facility.
(Bloomberg) Kenya plans to borrow $12.4 billion between now and June 2022 from foreign sources, the International Monetary Fund said in a report detailing terms and conditions of a separate $2.34 billion financing package approved by its board last week.
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The amount includes $7.3 billion in Eurobonds, $4.8 billion in concessionary borrowing and $282 million semi-concessional loans, the IMF said in a report on its website. About $2.3 billion of the Eurobonds will be new borrowing to be spent on infrastructure projects, while $5 billion is refinancing for a Eurobond maturing in 2024