(Nairobi, Kenya) – Kenya’s government has stopped parking workers’ housing levy deductions in short term Treasury bills, a move that signals faster execution of affordable housing projects and improved use of funds. Housing Principal Secretary Charles Hinga said the Affordable Housing Fund currently has no money invested in Treasury bills,Continue Reading
(Nairobi, Kenya) – Diesel consumers in Kenya have been denied a KES 14 per litre price cut in the new fuel pricing cycle, which runs through September 14, after the State opted to transfer the relief to petrol and kerosene users. Diesel prices dropped by KES 5 to KES 217.86Continue Reading
(Nairobi, Kenya) – Kenya’s National Assembly has ordered an investigation into QVSE, an online platform offering investment opportunities to Kenyans by combining cryptocurrency payments with trading in United States stocks. Speaker Moses Wetang’ula directed the Finance and National Planning Committee to probe the activities of the platform, which operates underContinue Reading
(NAIROBI, KENYA) – Faulu Microfinance Bank has received an additional KES 1.2 billion capital injection from its parent company Old Mutual Group as the Kenyan lender prepares to launch a new core banking system and expand lending to small businesses. The investment is worth approximately $7.7 million or £6.1 millionContinue Reading
(NAIROBI, KENYA) – Kenyan taxpayers lost at least KES 14.3 billion after the National Treasury and the National Assembly ignored technical advice from a State think tank and pushed through the sale of Safaricom shares at a lower price. The loss is equal to about $88.4 million or £69.5 million.Continue Reading
(NAIROBI, KENYA) – Vodacom has completed its acquisition of an additional 15 percent stake in Safaricom. The move comes days after the Court of Appeal lifted orders that had blocked the State’s KES 204.3 billion sale. The stake value is equal to about $1.26 billion or £992 million. The SouthContinue Reading
(NAIROBI, KENYA) – Wheat millers have warned of possible price increases for flour, bread, chapatis and other wheat products. The warning follows delays by the government in approving imports to bridge a looming supply shortfall. The Cereal Millers Association said there are delays in the release of a critical governmentContinue Reading
(NAIROBI, KENYA) – Car and General shares rallied by 31.3 percent during trading on the Nairobi Securities Exchange on Thursday. The diversified dealer more than tripled its interim dividend payout. The firm’s shares touched a high of KES 285 each during the day before closing at KES 242.25 per share.Continue Reading
(NAIROBI, KENYA) – British American Tobacco Kenya has asked the High Court to strike out a KES 4.5 billion claim over its VELO nicotine pouches. The company says the petitioner bypassed remedies provided under tobacco control law. The claim is equal to about $27.8 million or £21.9 million. The companyContinue Reading
(NAIROBI, KENYA) – The High Court has ordered the government to file a status report on the importation of 490,000 tonnes of duty free rice authorised under a Gazette Notice published last month. The court directed the government to file the report within 30 days. The report must detail theContinue Reading
