(NAIROBI, KENYA) – The board of directors of Shelter Afrique Development Bank (ShafDB) has approved the establishment of a programme to issue KES 64.61 billion ($500 million / £392 million) worth of bonds across East African capital markets. This marks a significant step towards the launch of the regional debtContinue Reading
(NAIROBI, KENYA) – Kenyan lawmakers have increased pressure on the National Treasury to revive a foreign exchange compensation scheme for diplomatic missions abroad, aiming to protect their budgets from the impact of a volatile shilling. The Public Accounts Committee (PAC) of the National Assembly asked the Treasury to compensate theContinue Reading
(NAIROBI, KENYA) – The High Court has blocked construction company EPCO Builders from attaching and selling assets of Limuru based cereals manufacturer Proctor & Allan (EA) Limited to recover a KES 150 million ($1 million / £810,000) debt. Instead, the court gave Kenya Commercial Bank (KCB) priority over the sameContinue Reading
(NANDI, KENYA) – The National Government has injected KES 79.1 million ($546,000 / £428,000) into KTDA’s Chebut Tea Factory for the purchase of modern machines to replace old and outdated equipment. The investment is expected to enhance productivity and cut production costs. Chebut Tea Factory was established in 1972 andContinue Reading
(MOMBASA, KENYA) – A KES 63.2 million ($436,000 / £342,000) Cancer Wellness Centre has been commissioned at Coast General Teaching and Referral Hospital (CGTRH) in Mombasa. The facility was developed by the Mombasa County Government in partnership with the M-Pesa Foundation and Faraja Cancer Support Trust. It will complement existingContinue Reading
(NYERI, KENYA) – The Kenya Film Commission (KFC) has opened an ultra modern cinema theatre and film hub at Dedan Kimathi University of Technology (DeKUT) in Nyeri, in a move aimed at strengthening film distribution, talent development and creative entrepreneurship. The cinema, named KFC-CineHub, will act as a film exhibitionContinue Reading
(MOMBASA, KENYA) – Kenya could save up to KES 86 billion ($593 million / £465 million) this financial year alone if all government entities fully adopt the electronic government procurement (EGP) system, procurement officials have said. The projection was made at the close of the 5th Annual Heads of ProcurementContinue Reading
(EMBU, KENYA) – The Pest Control Products Board (PCPB) has seized fake and unregistered home and farm pesticides with a street value of approximately KES 1 million ($6,900 / £5,400) in Embu and Kirinyaga Counties. The operation saw three suspects arrested and set to be arraigned in court. It formsContinue Reading
(MURANG’A, KENYA) – A Kenya Tea Development Agency (KTDA) board member has called for a swift and impartial investigation into allegations surrounding a KES 322 million ($2.2 million / £1.7 million) fertilizer payment, saying the truth should be established to protect the interests of tea farmers. Chege Kirundi, the KTDAContinue Reading
(NAIROBI, KENYA) – Kenya is planning a continuous expressway network from Mombasa to the Ugandan border, linking several major road projects into one integrated transport corridor. The plan would connect the Mombasa-Nairobi Highway to the existing Nairobi Expressway, the proposed Rironi-Mau Summit Highway, and the Mau Summit-Eldoret-Malaba road. The aimContinue Reading
