There may be something wrong at Kenya Airways (KA) investors are yet to know. The region’s leading Airways Company has reported a loss per share of Kshs 2.25 (US $0.025) for the year ended 31st March 2014; a slight improvement compared to Kshs 6.35 in y/e 2013. For published summary financial results, download Table 1. Will KA’s struggles end soon? The performance of KA has been wanting for the last few years despite the high investment. Although the Airline’s net loss reduced from Kshs 7.9 billion to Kshs. 3.4 billion, the current loss is still on a higher side considering the…
Fraud: How URA has lost a lot of revenue to tax defaulters
After Uganda Revenue Authority sent many reminders to the companies to pay their outstanding tax, the body took the necessary steps. Among these, on 6th June 2014, URA finally published a list of the top companies that have deliberately failed to pay their outstanding tax dues. URA has gone as far as imposing travel bans on the business men to move abroad. And by 26th June 2014, five tycoons were blocked by immigration from existing the country. URA claims these businessmen have defrauded the tax body a lot of revenue. This comes at a time donors suspended aid to Uganda…
