(KAJIADO, KENYA) – Kenya plans to bring in a new investor to take over soda ash mining at Lake Magadi. The move follows a government decision to end operations by Tata Chemicals Magadi Limited. The new investor must set up a glass manufacturing plant and a chemical processing factory inContinue Reading
(NYERI, KENYA) – Milk supply in Nyeri has fallen sharply as farmers contend with high feed costs and a prolonged cold and dry spell. Some dairies have cut client numbers and reduced deliveries. The drop has also pushed up retail prices for a 500 millilitre packet by about KES4 toContinue Reading
(KAJIADO, KENYA) – Kenya has commissioned a KES221 million expansion of the Rombo Clusters Irrigation Development Project in Kajiado South. The project increases irrigated land from 2,983 acres to 5,500 acres across four schemes. The expansion aims to support farmers with reliable water access throughout the year and reduce dependenceContinue Reading
(NAIROBI, KENYA) – Equity Group CEO James Mwangi’s stake in the lender climbed to a record KES13.42 billion ($104 million / £81.9 million) on Thursday as the bank’s share price extended a six session gaining streak on the Nairobi Securities Exchange (NSE). Mwangi, who owns 127,809,180 Equity shares, has seenContinue Reading
(NAIROBI, KENYA) – Standard Bank Group aims to strengthen its position in East Africa through internal growth rather than acquisitions, even as South African rivals Absa Group and Nedbank Group complete major deals in Kenya. Standard Bank Chief Executive Officer Sim Tshabalala said the bank plans to expand in theContinue Reading
(KIAMBU, KENYA) – Kiambu County could soon host the tallest building outside Nairobi after Tatu City proposed two high rise towers in Ruiru, with the taller structure reaching 30 floors. The mixed use development will be built on 9,518 square metres of land at Tatu Central’s central business district inContinue Reading
(NAIROBI, KENYA) – Kenya’s customs collections face fresh pressure after President William Ruto ordered the minimum customs charge for consolidated containerised cargo to be lowered to KES2 million ($15,500 / £12,200), a move that reverses a higher benchmark recently set by the Kenya Revenue Authority (KRA). The directive, issued onContinue Reading
(NAIROBI, KENYA) – Kenya’s aviation industry is counting losses after a two day strike by airport workers grounded flights and disrupted services across the country. Kenya Airways and its subsidiary Jambojet have reported combined losses of close to KES976 million in lost revenue and related costs from the industrial actionContinue Reading
(NAIROBI, KENYA) – Kenya has stepped up efforts to secure its removal from the Financial Action Task Force (FATF) grey list, with top law enforcement and financial crime agencies reviewing outstanding reforms needed to strengthen the country’s anti-money laundering and counter-terrorism financing regime. Director of Public Prosecutions Renson Ingonga chairedContinue Reading
(NAIROBI, KENYA) – The Public Service Superannuation Fund (PSSF) has grown its membership to 529,635 and expanded its assets under management to KES 340.4 billion ($2.64 billion / £2.09 billion / €2.43 billion), five years after the contributory pension scheme began operations. PSSF Chief Executive Officer Dr Jonah Aiyabei saidContinue Reading
