26th August, 2016
Following the government’s revision of excise duty in the 2016 budget, the Association of Insurance Brokers of Kenya (AIBK) is claiming challenges regarding the capacity to collect it, the main reason being previous reconciliation issues with insurance companies. AIBK vice chairman Anthony Mwangi says that the excise duty will have a severe impact on the insurance brokerage sector and on plans to ensure the reconciliation processes go as planned.