Why single parent and not just parent?

A man sits in a baraza where the other men around him sit as usual members. They have always been men with a topic, mostly ranging from sports especially soccer to the mediocre Kenyan politics. Being a mid-week with boring or no politics and soccer to discuss, a woman passes just near the baraza, she unfortunately becomes the topic of discussion. One would think maybe as usual they would discuss the beauty in her, citing their desires for her (it’s a manly thing) but this one was different.

The man says “that woman is with no husband, I wonder what will become of his son. The poor boy will have no values, he will perform poorly in this education, and he might be even a thug. My kids will lead a good life, I’ll always be there.”

That poor boy is the one writing this article, as much as I has been ages since this words were said about my mother and I. I have been strong since, my mother has been a pillar than no man could have ever made. Weak as women may be, single mothers are stronger in all matters pertaining parenting.

I had no male figure in the home but the hustle that my mother did put was enough for me to man up. I wanted to be a man of her life, one that would provide all that she missed taking care of me. That by itself created a leader in me, silent, quiet but always calculating.

With minimal education, I needed to school just for her. Not because she asked but to compensate the time she missed for schooling because of the poor family she comes from. There were no fees for many kids, only her male at least brothers did a bit of schooling but up until it was enough for them to fend for the family and to become men.

She didn’t teach me how to shave, a reason I keep my beards long enough and take it to the barber for my shaving but yes am creating jobs here. I know the value of not doing everything by myself. To share.

As men continue with their talk, my single mom did the actions; as a matter of fact it’s better to have one great parent than two average parents. I may have left the disciplinary part, yes she was tough on me, a reason daily I learn the tough love back then, every day I celebrate my mother, she is my hero.

Continue reading →

Revealed: The difference between exempt supplies and zero-rated supplies and how knowing it can increase your company's cash flow

According to the Practical Vat Loose Leaf Service, exempt supplies and zero-rated supplies are often seen as the same thing by Vat vendors, but they're treated differently by the Vat Act and have different results. Read on to discover the difference between exempt supplies and zero-rated supplies so your business can cash in on the input tax benefits of zero-rated supplies.

It's important that you don't confuse exempt supplies and zero-rated supplies. There's a difference between the two and getting it wrong means setting your business up for a SARS audit.

So what's the difference between exempt supplies and zero-rated supplies?

According to the Practical Vat Loose Leaf Service, exempt supplies are supplies that are exempt of tax. There's no output tax, no input tax and no tax invoices. Tax doesn't apply at all in this case.

On the other, hand zero-rated supplies are supplies that output tax is charged on at 0%. This means you can claim input tax for your business and tax invoices issued must show Vat at the zero rate.

Exempt supplies vs. zero-rated supplies – the breakdown

Exempt supplies

• Non-taxable supplies.
• Similar to supplies made by non -Vat vendors, which aren't taxable.
• If you make an exempt supply, you can't claim an input tax deduction on related expenses of goods or services.
• Don't form part of your taxable turnover.
• If you only make exempt supplies, you can't even apply for registration as a vendor as you don't qualify as one.
• An exempt supply doesn't need special documentary proof as you won't make any tax claims.

Zero-rated supplies

• Taxable supplies that are subject to Vat at a zero rate of 0% instead of the standard rate of 14%.
• A non -Vat vendor can't make a zero-rated supply.
• You CAN claim input tax deductions on related expenses of goods or services.
• Form part of your taxable turnover.
• Where you only make zero-rated supplies, you must still register for Vat if the value of your taxable supplies pushes you over the threshold.
• For legitimate zero-rating, you must keep detailed documentary proof.

Overall, the important points to remember are zero-rated supplies are more beneficial to your business. This is because you don't charge Vat on the supply, but you can still claim your input tax back. With exempt supplies, input tax is part of your cost and you'll have to pay penalties if you try to make an invalid claim for a refund.

Another important point to remember is that even though you don't declare output tax on zero-rated or exempt supplies, you must show them on your zero-rated and exempt sales on your Vat return. Otherwise you'll get flagged for a SARS' audit.

Source by FSP Business, 10 June 2013

Continue reading →

USALAMA INAANZA NA MIMI, GIVE ME A GUN

Today (Mashujaa day) being October 20, 2014. A day formerly Kenyatta day, celebrating the heroes of this great nation Kenya, who helped secure our independence through the self-less efforts of groups and individuals who fought to liberate the country (if we have really found this liberation, it’s still a matter in contention). Most of this individuals and people have long been forgotten and if we do remember them, we do so selectively depending on our leaders of today.

This day we are to appreciate how far Kenya has come since independence, a long journey that leaders of today choose to appreciate where it stands today and maybe what the future holds of this nation.

In the wake of this day I got a call from my mother, rather early than usual. A missed call at 0459 that I didn’t hear the phone ring then a second call at 0630 which I picked, knowing my mother I thought she must have wanted to wish me a good day or rather a good week being a Monday and holiday to top it up.

Her voice was rather low and from that I thought she maybe sick given her long fight being diabetic plus the high blood pressure that don’t mix well, this is a deadly combination. She said “Duka imeibiwa, M-Pesa imeenda yote.” (“the shop has been robbed the M-Pesa also.” I calmly asked what exactly has been stolen she says 5Kgs of sugar, Credit cards purchased the previous evening worth Kes 7,000 and now an estimated cash Kes 40,000 plus the M-Pesa phone which had deposits estimated at Kes 50,000 (this one I think is recoverable through Safaricom), all this because she didn’t pick this cash last evening as she is ailing.

The saddest thing is that her shop is located inside a police station, thinking this is the safest place to be in Kenya or rather in any part of the world for burglary to happen. The same place she is has recorded her statement. The thief came in the nights broke carefully the glass window of the door entered swiftly without the shop attendant who sleeps in the next room hearing and took off with the above and carefully placed the glasses in a dustbin. This is classic.

Seriously we did not liberate our country for this kind of happenings, we are not yet Uhuru I think, we are not safe, and surely I couldn’t agree with the President more, Ulinzi unaanza na mimi a reason I need a gun to make sure this is so, it’s not the MCAs alone who are in need of this weapon, when my security and that of my loved one is messed up with then why not have a gun. Maybe the guns at the moment are given to the wrong people (given that the burglary has happened in a police station) and that we have entrusted our safety to this very people whose security is also a problem. Yes Mr. President I need a gun, I trust myself more.

Today I wouldn’t be gnashing my teeth with rage given the helpless situation and the miles of liability bundled to my mother, the thief might have been sending a message that hii pesa si ya mama yako (this money is not my mother’s) a phrase that has become common with our leaders. If I had a gun I would have shot myself a thief, at least at the leg or maybe the buttock to make him immobile so that as we celebrate Mashujaa I’d be a hero to my ailing mother.

They already have a suspect in mind but how fast is our police and justice system, once caught he will plead innocence. No one saw him but then his monetary status has seriously changed to the fact that he is buying alcohol to everyone and has unlimited credit cards, I doubt if has a phone for himself, but simple as this case may be it depicts a serious lacking in our security systems.

Continue reading →

PAN AFRICA INSURANCE HOLDINGS CELEBRATES GROUND BREAKING OF NEW OFFICE COMPLEX

About Pan Africa Insurance Holdings

Being the first insurance company to be quoted and having started its underwriting business in 1947, Pan African Insurance Holdings was founded in 1954 by a family of Asian origin thereafter changing its name in 1963 to Pan Africa Insurance Company to reflect the growing partnerships. In the year 2002 the company was restructured into three entities namely, Pan Africa Insurance Holdings Limited and its two wholly owned subsidiaries, Pan Africa Life Assurance Limited and Pan Africa General Insurance Limited. Pan Africa Insurance Holdings Limited was restructured in 2004 after the merger to form two wholly owned subsidiaries. These subsidiaries are Pan Africa Life Assurance Limited dealing with life business and PA Securities which owns 100% stake in Mae Properties and a 25% stake in Runda Water.

The ground breaking

4 October 2014, Nairobi   - Management, staff and business partners of Pan Africa Insurance Holdings today celebrate the ground breaking of their newest Kes 2.5 Billion, 17 storey office building in Westlands area of Nairobi.

Pan Africa’s new 0.75 acre address to which they expect to move   in the second half of 2017 will see the business join the rest of Kenya’s blue chip corporate addresses including Safaricom, Barclays bank and Standard Chartered Bank The Chairman of the Board Dr John PN Simba after officially breaking the ground pointed out that the internally funded project is a part of the group’s long term business strategy. ‘’We have been keen diversifying our investments and real estate has been one of our ventures in this regard.  In addition to our residential housing project in Runda, we would like to expand to commercial property and this is the beginning of that line of growth. Being a financial service provider, real estate acts as a cushion to our investments in money market to keeps the business revenue afloat.  Of the 17 floors, we will utilize 2 of the floors to host our head quarter offices and all our staff while the other 15 will be leased out so as to generate some revenue through rent. Our target market will be multinationals as well as UN agencies.  

The acting CEO Mr Stephen Kamanda while taking the guests through the plan added that the plan has put in consideration some of the latest cost efficient technologies, including environmental friendly natural cross ventilation and lighting as well as green landscaping. ‘’The facility will have a digital Buildings Management System (BMS) which incorporates a state of the art security system. Further, we will have 3 underground and another 3 off ground parking floors translating to 350 parking slots which we expect will be sufficient for all staff and tenants.  The plan has also put in place borehole water supply to substitute the paid-for supply.’’ He closed

Pan Africa has concentrated in Life Assurance for many years but has recently launched an Asset Management arm. In a press statement during a recent launch of a new branch in Kakamega county mentioned it’s keen to expand the business portfolio in terms of geographical presence as well as business and product lines which will include short term insurance as well as sell of unit trusts.

Source:

Loice Shiguri

@LoiceShiguri

Pan Africa Insurance Holdings – Corporate Communications Office

 

Continue reading →