(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
(MOMBASA, KENYA) – Kenya and the Democratic Republic of Congo (DRC) are moving to strengthen cooperation between the Kenya Ports Authority (KPA) and Congolese authorities in a bid to expand trade and cement Kenya’s position as a logistics hub for Central Africa. Jomvu Member of Parliament Badi Twalib said improvedContinue Reading
(NANYUKI, KENYA) – SBM Bank Kenya has opened its 34th branch in Nanyuki, marking its entry into the Mt Kenya region as it targets customers in agriculture, tourism, real estate and small businesses across Laikipia County. The new branch, located at Peak Place Building in Nanyuki Town, is expected toContinue Reading
(NAIROBI, KENYA) – The Public Service Superannuation Fund (PSSF), Kenya’s civil servants pension scheme, is changing its investment policy to reduce its heavy reliance on fixed income securities and take on more risk in pursuit of higher returns for its members. The fund had KES 270.1 billion ($2.09 billion /Continue Reading
(NAIROBI, KENYA) – Kenya is moving to borrow KES 38.74 billion ($300.1 million / £237.4 million / €276.9 million) against future betting tax collections to complete 33 stadium projects across the country. The Sports, Arts and Social Development Fund (SASDF) has started looking for a transaction advisor and lead arrangerContinue Reading
(ELDORET, KENYA) – Construction of the ultra-modern 64 Market in Eldoret City has reached 50% completion, with Governor Jonathan Bii Chelilim assuring traders that stalls will be allocated equitably once the facility is completed. Speaking during a fundraiser in Ngeria over the weekend, Governor Bii said priority would be givenContinue Reading
(MOMBASA, KENYA) – Kenya is losing an estimated KES 45 billion (about $343 million / £270 million / €315 million) every year to illegal, unreported and unregulated fishing, government officials revealed during a stakeholders’ forum on marine fisheries conservation held at Shanzu, Mombasa. The forum brought together government agencies, researchContinue Reading
(KINANIE, KENYA) – The government has officially commissioned and handed over the first warehouse at the Kenya Leather Industrial Park in Kinanie, Athi River, to the first private investor, marking a major milestone in Kenya’s quest to revive its leather industry. Principal Secretary for the State Department for Industry DrContinue Reading
