Key features of the mortgage product:

• The mortgage offers loans ranging from Sh1 million to Sh4 million, repayable over up to 15 years.
• Eligibility requires at least two years of business operation.
• The product aims to increase financial inclusion by easing rigid credit assessment models.
• It uses alternative indicators, such as mobile money transactions and business records, for credit assessment.

Over 80% of Kenya’s workforce operates in the informal sector. Many of these individuals struggle to secure traditional mortgage financing. Caroline Wanjeri, a spokesperson for KCB Bank, highlighted the importance of this new solution.

Wanjeri stated, “With more than 80% of Kenya’s workforce operating in the informal sector, the new mortgage solution seeks to increase financial inclusion, ease the rigid credit assessment mortgage models and enable an increase in homeownership for Kenyans.”

This move comes as Kenya faces a persistent housing deficit driven by rapid urbanization and rising construction costs. The initiative is expected to tap into underserved groups who have traditionally found it difficult to access home loans.

Wanjeri added, “By combining alternative credit assessment and financial discipline we are making mortgage financing accessible by redefining eligibility through consistency in business performance as a credible pathway to dignified home ownership.” KCB Bank is positioning itself as a leader in addressing housing challenges in the country.

The post KCB Bank Launches New Mortgage Product appeared first on newskenya.

On April 24, 2026, KRA began sending messages to flagged traders urging them to regularize their tax statuses. Traders with an annual turnover exceeding Sh5 million must issue eTIMS invoices. Over 500,000 businesses were onboarded to eTIMS by December 2025. KRA aims to onboard 1.2 million businesses by the end of 2026.

KRA estimates it loses approximately KES 300 billion annually due to informal sector non-compliance. “It is very easy to see the transactions. If you are a trader, there is what you purchase and there is what you sell,” said Lilian Nyawanda of the KRA.

Many businesses in Eastleigh face challenges obtaining eTIMS invoices, according to George Obell from the Eastleigh Business District Association. He noted that many traders source goods from the area but struggle with compliance issues.

KRA has issued a final notice for businesses to settle outstanding dues by April 30, 2026. Failure to comply may result in penalties up to KES 20,000 for non-compliance.

The digitalization of the Kenyan economy means that every digital footprint is now visible to the taxman. “A transaction is not completed by one party. It has two parties,” Nyawanda added, emphasizing the importance of transparency in financial dealings.

As KRA continues its enforcement efforts, the impact on MSMEs remains significant. Yet, the effectiveness of these measures will depend on how swiftly traders adapt to new compliance requirements.

The post KRA Small Trader Tax Crackdown Targets Tax Evasion in Nairobi appeared first on newskenya.