Bon Mafuru

No Small Nation But Mind

[Bon Mafuru @BonMafuru]

"Have goals so big that you are uncomfortable telling small-minded people" @SteveWagsInvest

[Toby @TomolaGroup]

Greenview International was first set up in Panama in 1994. It ran with nominee directors for a long time. Then on 24 August 2015 every nominee resigned on the same day and Aliko Dangote was named the sole director and sole shareholder. They moved it to Cayman at the same time.

Nigerian companies and the stock exchange still list Greenview as the ultimate parent today. It owns 86.65 percent of Dangote Cement. Banks keep lending money to the group because everyone knows who owns it.

Cayman is just the location. The control has always been with him.

[CPA Wachira Joseph @WashiraX]

Your business bank account is not your personal wallet. Divorce the two.

One of the worst bookkeeping habits I see is business owners using the business account to pay school fees, home rent, family holidays, family shopping and everything else.

They then give out the company PIN for eTIMS invoices for their personal purchases.

At the end of the month, they hand the bank statement and eTIMS invoices to the accountant and say, si wewe ni accountant? Sort it out.

Don't make your bookkeeper a detective.

If it's a personal expense, tell your bookkeeper to record it as such.

Keep business and personal money separate.

[Mike @Mike_Kutola]

The Tax Appeals Tribunal ordered Harley Berry Limited to pay KSh 317 million in VAT.

​The smart meter supplier lost its case against KRA after failing to substantiate input tax claims

[CPA Peter Ndirangu @pitandirangu]

That brand name isn’t really yours if you haven’t registered it.

Tell me ;

Why pour money into a name you haven’t formally secured?

Why build a website, design logos, choose corporate colors and even shout the name from the rooftops—when legally, you may not even own the name?

I forgive you. 😂

Even Linda Mwananchi, despite having plenty of “learned friends” around the team, couldn’t escape the very expensive teacher called ignorance.

Before you fall in love with a trading or business name, check its availability and take the necessary steps to register it.

It can save you the embarrassment and expense of building a beautiful brand only to discover someone else has the legal right to it.

[Mwango Capital @MwangoCapital]

Harley Berry Limited, a supplier to Kenya Power, has lost a KES 317.9M VAT dispute after the Tax Appeals Tribunal upheld KRA’s assessment for 2022–2024:

—The Tribunal found that Harley Berry failed to provide supporting invoices, supplier confirmations or bank statements, and did not file a single document required under Section 17(3) of the VAT Act to substantiate its input VAT claims.

—Harley Berry was previously awarded a KES 2.9B Kenya Power contract for 320,800 smart meters in 2023, a deal that later drew parliamentary and Senate scrutiny, although the inquiries did not establish corruption or irregularity against the company.

Link to case: https://t.co/2jq8m6JLwH
Link to article: https://t.co/w7QbkJDIcb

[Moe @moneyacademyKE]

Nairobi Water has warned that the shutdown of Tata Chemicals Magadi could disrupt water treatment in Nairobi.

The utility relies on more than 360 tonnes of soda ash from Magadi every month to treat and stabilise water.

[Julians Amboko @AmbokoJH]

Seven months ago I sat down with KRA's Commissioner for Micro & Small Taxpayers & asked him why the authority was frustrating taxpayers ability to use of Sec47 of the Tax Procedures Act's provisions for offsets using tax credits (see quoted tweet).

The Tax Appeals Tribunal has now handed taxpayers a major win on this front.

The facts of the case:

· Easton Petroleum Ltd has a VAT liability of VAT liability of Kes 12,856,678 for which KRA issued agency notice & attached/froze the accounts

· But at the same time, Easton Petroleum Ltd had a VAT credit of Kes 19,709,644.89

· Easton Petroleum Ltd therefore lodged an application on 14th May 2026 requesting for set-off of the liability against the available VAT credits

· KRA, however, failed, neglected or refused to process the set-off, issue a TCC or withdraw the Agency Notices even after 14 days had lapsed

· KRA declined the request on the basis that the
available VAT credit constituted excessive input tax under Sec17(5) of the VAT Act which in its view could have been carried forward to subsequent tax
period

· KRA was effectively saying that the credit did not amount to refundable Tax capable of being off-set against the Tax liability

· The Tribunal countered KRA's argument stating that Sec47 of the TPA vests the Commissioner with the statutory power to apply available tax credit towards & existing tax liability where the circumstances justify such an offset

Musings:

· This is a huge win for taxpayers considering how much this provision, which was crucial in providing cashflow relief to taxpayers, has been stifled
· I find the Revenue Authority's argument strange given that this was a matter falling under the same tax head
· The next hurdle is to push for offsets across tax heads because the resistance there is quite significant

[CPA Peter Ndirangu @pitandirangu]

Common Tax Mistakes I See Among Kenyan SMEs

1. Lack of understanding of tax obligations
-Many business owners are not fully aware of the taxes applicable to their businesses, their filing obligations, payment deadlines and the records they are required to maintain.
-You cannot effectively comply with an obligation you do not understand.

2. Treating compliance requirements such as eTIMS as just another system
-eTIMS is not simply about generating invoices.
-Businesses need to understand how their eTIMS records connect with their accounting records, sales, purchases and tax returns.
-Gaps and inconsistencies create unnecessary tax exposure.

3. Poor record keeping
-Your tax position is only as strong as the records supporting it.
-Poor documentation, unreconciled bank transactions, missing invoices and inadequate supporting documents makes it difficult to substantiate expenses, deductions and reported income.

4. Ignoring tax planning
-Tax planning should not be something you think about when a tax bill arrives.
-Good tax planning means understanding the tax implications of business decisions before making them and taking advantage of legitimate opportunities provided by the law.

In my view tax compliance should not be treated as a once-a-year activity , It should be part of the monthly financial management process.

Regular reconciliations, proper records, timely filing, understanding your obligations and proactive tax planning can significantly reduce unnecessary tax risks.

[Thabit Jacob, PhD 🍉 @ThabitSenior]

Hichilema is beyond shameless

[Thabit Jacob, PhD 🍉 @ThabitSenior]

Comes a few days after 🇫🇷 Orano lost its largest Uranium concession in Niger

[SIKAOFFICIAL🦍 @SIKAOFFICIAL1]

“A lot of restaurants in Accra must be fronts for money laundering schemes. Otherwise, none of anything they do makes any sense. Even at the most expensive restaurant in New York, I don’t think you’d find a $60 tiramisu.”

—A New York-based creator has expressed shock at the cost of dining out in Accra, suggesting that the prices charged by some restaurants have become increasingly out of reach for locals and, in certain cases, surprisingly high even for expatriates.

[🎥: amandaagy]

[Big Brain Business @BigBrainBizness]

Starbucks chairman emeritus Howard Schultz on the moment he broke down in front of his entire company:

[ROLAND KENNETH @KenRolands]

DOES GOD ANSWER PRAYER 🙏??

Kenneth Copeland's Health Decline As His Children Struggle To Understand Why God Has Not Healed Him and Allowing To Go Through So Much Pain - Dr. Abel Damina Addresses and Explains Why It Seems As If God Is Not Healing Kenneth Copeland

#JesusChrist #Christianity #Bible #Gospel #Grace #Faith #God #Christ #BibleTeaching #ChristianContent #Jesus #NewTestament #KingdomOfGod #Truth #AbelDamina

[Liquid Gooner @LiquidAy]

🚨According to @Lu_Class_ , Liverpool reportedly explored the possibility of hijacking Arsenal’s Emirates sponsorship renewal as they look for a replacement for Standard Chartered. If Liverpool had been successful, Arsenal will not be able to renew with Emirates.

However, Arsenal have now secured an extension with Emirates through 2033, covering the shirt, training kit and stadium naming rights.

The new agreement is reportedly worth £65m per season for the next two years before rising to £75m, with additional bonuses of up to £15m for winning major trophies.

If true, Liverpool’s attempt shows just how valuable Arsenal’s commercial growth has become, and the Gunners have ultimately protected one of their most important revenue streams.

[Glory @Gloryneche1]

Do you know a believer today has more wisdom than Solomon , our source of wisdom is greater

[Moe @moneyacademyKE]

There is a documentary by NTV Kenya exposing some of the notable scandals Jacinta Mwatela encountered during her 32 years at CBK, including:

— Goldenberg scandal
— Charterhouse Bank
— Grand Regency Hotel saga
— Currency-printing tender controversy

Link below:

[Brad Stulberg @BStulberg]

John Steinbeck's journal entry in the midst of writing of Grapes of Wrath. A few years later, he won the Pulitzer Prize for the book, and eventually a Nobel.

“Hard things are hard. Everyone faces resistance. Progress is non-linear.

So much of life comes down to showing up, putting yourself in the arena, and realizing that just because you get better doesn’t make it easier.

It takes years to develop a craft. You’ve got to be patient. You’ve got to stay in the game long enough to break through inevitable plateaus.

People long for the times when everything is clicking, but that’s not the norm. The norm is chipping away—brick by brick, sentence by sentence, note by note, pound by pound, breath by breath.

Keep going. Keep showing up.”

—The Way of Excellence (https://t.co/K0XWF7zMvS)

[Gbenga Samuel-Wemimo @GbengaWemimo]

We all know that our nervous system is designed to protect us. When we feel threatened, the brain and body can quickly move into survival mode.

Some people under stress perceive even a small difference of opinion/ or a small criticism as a serious threat to their identity.

As a result, the rational part of their brain (the prefrontal cortex) stops functioning, and the limbic or primitive brain takes over and prepares the body to fight. They choose verbal abuse as a weapon to defend and protect their ego.

[Glory @Gloryneche1]

Nigerian churches still have a long way to go in been ministries of the new covenant entirely, Christ Embassy is among d very few in Nigeria that doesn't just sing any song bcos it has Jesus in it or sounds christainiese, every song revelation must b consistent with new covenant

[Nzube Ezudo @NzubeEzudo]

Just because Mareska could sit on the throne, it doesn't make him KING.

You people are finally going to understand that PEP was a god of the game, and Arteta tried to make him bleed for 3 years before succeeding.

Power abhors a vacuum, and PEP left a canyon.