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NEWS & CURRENT AFFAIRS

Digital News

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By James Anyanzwa

Questions raised as Government defers payment of $600m loan

Could the economy be in financial distress? This is the big question among economists after the Government moved to reschedule a $600 million (Sh52.2 billion) syndicated loan.

By By James Anyanzwa and Reuters 10 years ago

Questions raised as Government defers payment of $600m loan

Survey: Over Sh300b for development sits idle in State coffers

Survey: Over Sh300b for development sits idle in State coffers

By By James Anyanzwa 10 years ago

Few options to finance budget as growth slows

Few options to finance budget as growth slows

By By JAMES ANYANZWA 10 years ago

HF shareholders approve move to raise more cash

HF shareholders approve move to raise more cash

By By James Anyanzwa 10 years ago

High Court suspends REA Vipingo takeover process

The High Court has suspended the proposed takeover of the agricultural firm REA Vipingo Plantations Ltd (RVPL), pending investigations into allegations of irregularities, which have marred the entire process.

By By James Anyanzwa 10 years ago

High Court suspends REA Vipingo takeover process

KenolKobil swings back to profit on cost-cutting

Oil marketer Kenolkobil has reported a pre-tax profit of Sh564 million for the year ended December 31,2013, marking a major turnaround from the previous year’s loss of Sh8.96 billion.

By By James Anyanzwa 10 years ago

KenolKobil swings back to profit on cost-cutting

NSE unveils Sh250 million plan to enhance electronic trading system

Nairobi Securities Exchange (NSE) is set to upgrade its automated trading system (ATS) as part of efforts to improve efficiency and transparency in stock and bond trading.

By By James Anyanzwa 10 years ago

NSE unveils Sh250 million plan to enhance electronic trading system

Essar’s refinery divorce with State firm nears conclusion

The eagerly awaited exit of Indian Essar Energy from the ownership of the trouble ridden Kenya Petroleum Refineries (KPRL) is finally on the brink of conclusion.

By By James Anyanzwa 10 years ago

Essar’s refinery divorce with State firm nears conclusion

State mulls going slow on domestic market borrowing

The Government has hinted at the possibility of switching from domestic to external borrowing in a bid to control burgeoning interest payment on government securities.

By By James Anyanzwa 10 years ago

State mulls going slow on domestic market borrowing

AfDB gives Kenya Sh80 billion for investment, job creation

Africa Development Bank Group (AfDB) has approved $930 million (Sh79.98 b) to support infrastructure development and guarantee job opportunities for Kenyans.

By By James Anyanzwa 10 years ago

AfDB gives Kenya Sh80 billion for investment, job creation

Anglo Leasing scam architects threaten to auction State assets

Taxpayers are set to lose in excess of Sh1.6 billion in awards and penalties in Anglo Leasing scandal related suit, which was concluded in two European courts last year, a top official at the National Treasury has said.

By By James Anyanzwa 10 years ago

Anglo Leasing scam architects threaten to auction State assets

Setback as Treasury rejects MPs’ extra funding request

MPs’ push for cushy perks suffered a setback Tuesday as Treasury held back on funding.

By By James Anyanzwa 10 years ago

Setback as Treasury rejects MPs’ extra funding request

Experts warn State on planned sackings

Economists yesterday cautioned the State against blanket retrenchment of civil service employees.

By By JAMES ANYANZWA 10 years ago

Experts warn State on planned sackings

Treasury seeks Sh122billion as wage bill load gets heavier

The National Treasury is seeking parliamentary approval to spend an additional Sh121.8 billion on Government operations until June 30, with most of the funds going towards payment of salaries and allowances for public officers.

By By James Anyanzwa 10 years ago

Treasury seeks Sh122billion as wage bill load gets heavier

Serem warns of looming crisis as public service ghost workers bleed coffers

Taxpayers are struggling to sustain over 300,000 ghost workers in the civil service as public sector wage bill spirals out of control.

By By JAMES ANYANZWA 10 years ago

Serem warns of looming crisis as public service ghost workers bleed coffers

Most Kenyans use phones for banking - study

Majority of Kenyans use mobile phones for payment of bills and money transfers, a new survey shows.

By By James Anyanzwa and Anjellah Owino 10 years ago

Most Kenyans use phones for banking - study

Treasury, KRA in a spot over variation in figures

The National Treasury and the Kenya Revenue Authority (KRA) have raised eyebrows after issuing conflicting reports on revenue performance, casting doubts on the authenticity of figures released.

By By JAMES ANYANZWA 10 years ago

Treasury, KRA in a spot over variation in figures

Treasury cuts Kenya growth forecast to 5pc

The Government has made a dramatic shift over its economic growth forecast for the year 2013 saying the economy would now grow at 5 per cent as opposed to its earlier projection of 5.6 per cent.

By By James Anyanzwa 10 years ago

Treasury cuts Kenya growth forecast to 5pc

NSE’s index hit historic 5,000 mark buoyed by foreign buys

Nairobi Securities Exchange (NSE) experienced a beehive of activities over the last five days with foreign investors scrambling for a share of the market, which observers opine is highly undervalued.

By BY JAMES ANYANZWA AND REUTERS 10 years ago

NSE’s index hit historic 5,000 mark buoyed by foreign buys

Region courts Comesa, SADC for free trade area

East Africa Community (EAC) member States have deepened negotiations with Comesa and the Southern Africa Development Community (SADC) towards forming a tripartite Free Trade Area (FTA).

By By JAMES ANYANZWA 11 years ago

Region courts Comesa, SADC for free trade area

Budget controller blames inefficient committees for low funds absorption

The Office of the Controller of Budget has blamed project implementation committees in ministries and departments for the low absorption of funds meant for development.

By By JAMES ANYANZWA 11 years ago

Budget controller blames inefficient committees for low funds absorption

KCB gets Sh2.6b loan for lending to SMEs

Kenya Commercial Bank (KCB) has received a loan of $30 million (Sh2.58b) from Ghana International Bank.

By By JAMES ANYANZWA 11 years ago

KCB gets Sh2.6b loan for lending to SMEs

New law to cap high interest rates in the offing

The government is to introduce a new law to cap high interest rates charged by commercial banks, President Uhuru Kenyatta has said.

By By JAMES ANYANZWA 11 years ago

New law to cap high interest rates in the offing

Firm in private pact to end housing woes in counties

County governments will sign public-private partnership agreements with individuals and firms to spur large-scale investments in the provision of affordable housing.

By By JAMES ANYANZWA 11 years ago

Firm in private pact to end housing woes in counties

Taxpayers could lose billions in dams scandal

The National Water Conservation and Pipeline Corporation (NWCPC) is on the spot on what appears to be yet another mega scandal in the development of dams.

By By JAMES ANYANZWA 11 years ago

Taxpayers could lose billions in dams scandal

It’s official — Kenya will stop refinery operations

Kenya will operate without a refinery of its own, the Energy ministry has confirmed.

By BY JAMES ANYANZWA AND MACHARIA KAMAU 11 years ago

It’s official — Kenya will stop refinery operations

State’s power generation exit could up tariffs

Key power projects are likely to grind to a halt due to what Energy and Petroleum Cabinet Secretary Davis Chirchir attributes to under-funding by Treasury.

By By JAMES ANYANZWA 11 years ago

State’s power generation exit could up tariffs

The pain of working in East Africa

Securing a job has never been an easy task for many people but even after finding one, minimum wages in East Africa are barely above the international poverty line of US$1.25 (Sh107.50) per day.

By By JAMES ANYANZWA 11 years ago

The pain of working in East Africa

Capital markets to tighten noose on insider trading

The Capital Markets Authority (CMA) will prosecute and revoke licences of those who manipulate the securities market and deal in insider trading.

By By JAMES ANYANZWA 11 years ago

Capital markets to tighten noose on insider trading

Investor unease as Treasury raids domestic market

The era of high interest rates beckons, yet again as Treasury continually raids the local market to replenish its empty vaults.

By By JAMES ANYANZWA 11 years ago

Investor unease as Treasury raids domestic market

World Bank raises alert over high cost of doing business

The World Bank has raised the alarm over Kenya’s high cost of doing business, saying the country risks being shunned by investors.

By By James Anyanzwa 11 years ago

World Bank raises alert over high cost of doing business

Jobs pressure pushes State to revive industries

Deputy President William Ruto Wednesday launched a new industrialisation blueprint.

By By James Anyanzwa 11 years ago

Jobs pressure pushes State to revive industries

Cheap power in sight as State subsidises energy cost

The Government plans to subsidise the cost of geothermal power production by more than 40 per cent as part of efforts to cushion households and businesses from high power tariffs

By BY JAMES ANYANZWA 11 years ago

Cheap power in sight as State subsidises energy cost

Budget chief wants freeze on trips to tame wasteful spending

The Office of the Controller of Budget wants more power to tame wasteful spending in government.

By BY JAMES ANYANZWA 11 years ago

Budget chief wants freeze on trips to tame wasteful spending

Current account deficit: The elephant in our economy

Henry Rotich, the Treasury cabinet secretary, has finally come out to speak about the elephant in Kenya’s economy

By BY JAMES ANYANZWA 11 years ago

Current account deficit: The elephant in our economy

New upgrade to halt system hitches at NSE

Plans are underway to upgrade the automated trading systems at the Nairobi Securities Exchange (NSE) and the Central Depository and Settlement Corporation (CDSC).

By BY JAMES ANYANZWA 11 years ago

New upgrade to halt system hitches at NSE

CMA decries effects of global politics on regional integration

International politics is weighing heavily on plans of an integrated capital markets within the East Africa Community (EAC).

By BY JAMES ANYANZWA 11 years ago

CMA decries effects of global politics on regional integration

CMA pushes for counties to raise funds through bonds

The Capital Markets Authority (CMA) is in the process of arranging county bonds in a bid to reduce reliance by the devolved units on levies to finance their budgetary shortfalls.This comes amid growing budgetary deficits among county governments.

By BY JAMES ANYANZWA AND LILLIAN KIARIE 11 years ago

CMA pushes for counties to raise funds through bonds

Bank sees 5.5pc growth for Kenya

Citigroup expects Kenya’s economy to grow by 5.5 per cent this year helped by strong growth in the agricultural and services sector.

By By JAMES ANYANZWA 11 years ago

Bank sees 5.5pc growth for Kenya

State renews efforts to net hard-to-tax entrepreneurs

INFORMAL SECTOR: Government talks tough as it goes after small businesses and landlords in a bid to meet its revenue targets

By BY JAMES ANYANZWA 11 years ago

State renews efforts to net hard-to-tax entrepreneurs

Safaricom named top taxpayer, once again

Safaricom has for the sixth year in a row emerged the nation’s largest taxpayer as the Kenya Revenue Authority (KRA) moved to fete its compliant taxpayers on Tuesday.

By By JAMES ANYANZWA 11 years ago

Safaricom named top taxpayer, once again

IMF mission gives thumbs-up to Kenya’s economic reforms

The International Monetary Fund (IMF) has given the thumbs up to Kenya’s economic reforms over the last three years, but cautioned against complacency.

By By JAMES ANYANZWA 11 years ago

IMF mission gives thumbs-up to Kenya’s economic reforms

MPs alarmed over cost of devolved governance

The Parliamentary committee on Finance, Planning and Trade has raised concerns over the devolved system of governance, saying the central Government does not have enough funds to finance its operations.

By By JAMES ANYANZWA 11 years ago

MPs alarmed over cost of devolved governance

Governance system a threat to co-operative movement, warns Kuscco

Operations of Savings and Credit Cooperative Societies (saccos) have come under threat from the devolved system of government with fears of eventual collapse.

By By JAMES ANYANZWA 11 years ago

Governance system a threat to co-operative movement, warns Kuscco

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