Author: Damaris Gatwiri

Closing inventory, also known as ending inventory, is the value of the stock a business has remaining at the end of an accounting period. It is an important figure in accounting because it helps determine the Cost of Goods Sold (COGS), gross profit, and the value of inventory reported in the financial statements. Whether you run a small business or manage a large company, knowing how to calculate closing inventory helps you maintain accurate records and make informed financial decisions. Determine the Opening Inventory Start by identifying the value of the inventory available at the beginning of the accounting period.…

Pinning videos on TikTok allows you to keep your most important or popular content at the top of your profile. This feature is useful for highlighting viral videos, introductions, promotions, or content you want new visitors to see first. TikTok allows you to pin up to three videos to the top of your profile, and you can change or remove them at any time. Learning how to pin TikTok videos helps you organize your profile and showcase your best content. Open the TikTok App Launch the TikTok app on your smartphone and sign in to your account if you are…

The High Court has allowed the publication of an arbitration award in a long-running commercial dispute between Kenya Breweries Limited (KBL) and Jilk Construction Company Ltd over the construction of KBL’s brewery in Kisumu. In a ruling, Justice Francis Gikonyo lifted court orders that had stopped the award from being published since December 2024, saying the continued delay would undermine arbitration as an alternative way of resolving disputes. The temporary orders had prevented the publication and release of the arbitration award even though the arbitration process had been completed in 2024. KBL had argued that the arbitration process was affected…

Sparetech Trading Company Limited has been placed under receivership after Imperial Bank Limited (In Liquidation) appointed a receiver and manager to take control of the company’s assets and operations as part of efforts to recover money owed to the collapsed lender. According to a notice issued under the Insolvency Act, 2015, Kamal Anantroy Bhatt of Anant Bhatt LLP was appointed Receiver and Manager on April 17, 2026, with authority to manage the company’s business, assets and undertakings. The appointment transfers control of Sparetech Trading from its directors to the receiver, who will oversee the company’s operations and safeguard its assets…

Citibank Kenya has moved to the High Court seeking orders to stop investigators from summoning, questioning, arresting or prosecuting one of its employees over the approval of a $2.02 million (Sh261 million) loan to Kiru Tea Factory Company Limited. In a constitutional petition filed before the High Court, the bank is seeking conservatory orders to bar investigative agencies from taking action against the employee while the case is being heard and determined. According to court documents filed under HCCHRPET/E373/2026, the investigations relate to allegations that the employee negligently processed a credit application, leading to the approval and disbursement of the…

Electric bus manufacturer BasiGo will open three new electric vehicle (EV) charging stations in Meru, Nanyuki and Nyeri this month as it expands charging infrastructure beyond Nairobi to support the growing adoption of electric mobility across Kenya. The company said the new charging stations will serve electric buses, vans, trucks, passenger vehicles and other compatible electric vehicles, making inter-city travel more convenient for EV users. The announcement was made during the commissioning of a new EV charging station in Sabaki, Athi River, which BasiGo has established in partnership with Rubis Energy Kenya. BasiGo Chief Executive Officer and Co-founder Jit Bhattacharya…

Two retirement schemes managed by Equity Life Assurance have grown their combined assets to more than Sh900 million, reflecting increasing interest among Kenyans in saving for retirement. The company’s Individual Savings and Retirement Plan posted the strongest growth, with assets under management rising from Sh313 million at the end of 2024 to Sh796 million as of June 30, 2026. The scheme, which had 408 members at the end of 2025, delivered a 13.6 percent net return during the year. Equity Life’s Income Drawdown Fund also recorded steady growth. Its assets increased from Sh44 million at the end of 2024 to…

Calculating a car installment helps you understand how much you are likely to pay each month before applying for vehicle finance. Your monthly repayment depends on several factors, including the purchase price of the vehicle, your deposit, the interest rate, the loan term, and whether there is a balloon payment. Learning how to calculate a car installment allows you to budget more effectively and choose a finance option that suits your financial situation. Determine the Vehicle Purchase Price Start by identifying the total purchase price of the vehicle you want to buy. If you plan to pay a deposit, subtract…

Calculating the building cost per square metre is one of the easiest ways to estimate the cost of constructing a house, office, or commercial building. This method helps homeowners, builders, and property developers compare construction costs and prepare realistic budgets. While the final cost depends on factors such as location, materials, labour, and the quality of finishes, calculating the cost per square metre provides a useful starting point. Learning how to calculate building cost per square metre helps you plan your construction project more accurately. Measure the Total Floor Area Begin by determining the total floor area of the building…

Value Added Tax (VAT) is often included in the total price of goods and services, making it necessary to calculate the amount excluding VAT for accounting, invoicing, and budgeting purposes. Determining the VAT-exclusive amount allows you to identify the original price before tax was added. Learning how to calculate an amount excluding VAT helps you prepare accurate financial records and better understand the true cost of a product or service. Confirm That the Total Amount Includes VAT Before calculating the VAT-exclusive amount, verify that the price you have is VAT-inclusive. You also need to know the VAT rate that was…

When the price of a product or service already includes Value Added Tax (VAT), you may need to determine the original price before the tax was added. This is useful for accounting, invoicing, budgeting, and business reporting. To calculate the amount before VAT, you need to know the applicable VAT rate and apply the correct formula. Learning how to calculate the amount before VAT helps you separate the tax from the total price accurately and avoid calculation errors. Confirm That the Price Includes VAT Before performing any calculation, make sure the amount you have is VAT-inclusive. If the amount already…

Vodacom offers dedicated WhatsApp Bundles that allow customers to send messages, make voice and video calls, share photos, videos, documents, and other media through WhatsApp without using their regular data bundle. These bundles are available to prepaid, top-up, and contract customers in various sizes and validity periods. You can purchase them through USSD, the VodaPay app, or participating Vodacom stores. Learning how to buy a WhatsApp bundle on Vodacom helps you stay connected with family, friends, and colleagues while managing your mobile data costs effectively. Make Sure You Have Enough Airtime Before purchasing a WhatsApp bundle, ensure you have enough…

Kenya Reinsurance Corporation (Kenya Re) is set to expand its regional footprint by opening new offices in Tanzania and Rwanda as it strengthens its presence across East Africa. The state-owned reinsurer has invited bids for the leasing of office space in Dar es Salaam, Tanzania, and Kigali, Rwanda. It is also seeking a consultant to support the establishment of a liaison office in Rwanda. According to tender notices issued by the corporation, the procurement process is part of its strategy to enhance operations and improve service delivery in the East African region. The tender for office space in Dar es…

Takealot Gift Vouchers are a convenient way to shop online or give someone the freedom to choose their own products. They are available in various denominations and can be purchased directly from the Takealot website. Once purchased, the voucher is delivered electronically and can be redeemed for eligible purchases on Takealot. Gift vouchers are valid for three years from the date of issue and can be used until their balance is exhausted. Visit the Takealot Website Open the Takealot website and navigate to the Gift Vouchers section. You can choose from fixed-value vouchers or select your own amount, depending on…

MTN offers SMS bundles that allow prepaid and eligible customers to send text messages at a lower cost than standard SMS rates. These bundles are available in different sizes and validity periods, making them suitable for occasional and frequent messaging. You can purchase SMS bundles using USSD, the MyMTN App, the MTN website, or participating retailers. Learning how to buy SMS bundles on MTN helps you save money while staying connected through text messaging. Ensure You Have Enough Airtime Before buying an SMS bundle, make sure your MTN prepaid account has sufficient airtime to cover the purchase. If your balance…