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NEWS & CURRENT AFFAIRS

Digital News

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Macharia Kamau

Austerity for who? State splurges Sh27b on foreign trips

A new report shows that spending on domestic and foreign travel increased by Sh6.97 to Sh27.34 billion from Sh20.37 billion in the financial year to June 2023.

By Macharia Kamau 1 month ago

Austerity for who? State splurges Sh27b on foreign trips

How CBK rate hikes impact Treasury's emergency loans

How CBK rate hikes impact Treasury's emergency loans

By Macharia Kamau 1 month ago

Madagascar tycoon to buy Zuku parent firm Wananchi Group

Madagascar tycoon to buy Zuku parent firm Wananchi Group

By Macharia Kamau 2 months ago

How access to credit is boosting tech adoption, earnings for SMEs

How access to credit is boosting tech adoption, earnings for SMEs

By Macharia Kamau 2 months ago

Tullow still pursuing strategic partner, says oil plan on course

Tullow Oil is yet to make much headway in its search for a strategic partner, which remains one of the key aspects needed to move Kenya's oil project forward.

By Macharia Kamau 2 months ago

Tullow still pursuing strategic partner, says oil plan on course

Local startup taps sports and creative economy with super app

Truly Kenya Ltd aims to create new economic opportunities for the country's growing youth population, with its sights on the sports and creative economy sectors.

By Macharia Kamau 2 months ago

Local startup taps sports and creative economy with super app

State's share sale plan major boon for retail investors

Available figures indicate that retail investors' participation in the bourse remains low, with domestic and international institutional investors currently the dominant forces.

By Macharia Kamau 2 months ago

State's share sale plan major boon for retail investors

Trial or error? Why Rutonomics falls short of Kenyans' expectations

Ruto's two-year stay at the 'House on the Hill' has been a mixed scorecard as his administration implements the Bottom Up Economic Agenda (BETA).

By Brian Ngugi and Macharia Kamau 2 months ago

Trial or error? Why Rutonomics falls short of Kenyans' expectations

Pump prices remain unchanged as Epra retains higher road levy

It is the second consecutive month that Epra has retained the cost of super petrol and diesel at the same levels, halting the reduction in pump prices witnessed for nearly a year.

By Macharia Kamau 2 months ago

Pump prices remain unchanged as Epra retains higher road levy

KQ, exporters stare at losses amid protests over Adani deal

Firms exporting fresh produce and other time-bound cargo are staring at huge losses after planes failed to land and take off

By Macharia Kamau 2 months ago

KQ, exporters stare at losses amid protests over Adani deal

EAPCC in surprise dividend plan after sale of idle land

East African Portland Cement Company has said it will consider paying dividends to shareholders, which will be funded by the sale of idle assets.

By Macharia Kamau 2 months ago

EAPCC in surprise dividend plan after sale of idle land

Technology firm rocks market with new last-mile internet connectivity solution

An American firm is looking to revolutionise the local connectivity market with a new technology that enables businesses and institutions to deploy private cellular networks.

By Macharia Kamau 2 months ago

Technology firm rocks market with new last-mile internet connectivity solution

Incessant blackouts: Which way for Kenya's ageing power network?

In the last week, the country experienced two major power outages, crippling not just businesses and households but essential services providers such as hospitals.

By Macharia Kamau 2 months ago

Incessant blackouts: Which way for Kenya's ageing power network?

Falling pump prices fail to spur fuel consumption amid tough economic times

The government has been subsidising the cost of petroleum products, which has partly been among the factors driving down pump prices, but this has also been adequate to lift consumption.

By Macharia Kamau 2 months ago

Falling pump prices fail to spur fuel consumption amid tough economic times

Rironi-Mau Summit road project snatched from France by China

The Chinese are now poised to develop the Rironi-Mau Summit road, which had been awarded to a consortium of French firms

By Macharia Kamau 2 months ago

Rironi-Mau Summit road project snatched from France by China

Standard Group shareholders approve Sh1.5 billion rights issue at annual meeting

The funds are expected to strengthen the media company's balance sheet to be able to take advantage of emerging digital growth opportunities as part of an ongoing reorganisation.

By Macharia Kamau 2 months ago

Standard Group shareholders approve Sh1.5 billion rights issue at annual meeting

Businessman seeks to upstage Tanzania firm in Bamburi buyout

Savannah Clinker, wholly owned by businessman Benson Ndeta, yesterday said it would pay Sh25.42 billion for Bamburi Cement's entire stake.

By Esther Dianah and Macharia Kamau 2 months ago

Businessman seeks to upstage Tanzania firm in Bamburi buyout

Kenya bets big on nuclear as US-Africa energy talks kick-off

Kenya will in September sign a nuclear cooperation agreement with the United States that is expected to firmly set Kenya up on a path to developing nuclear energy for electricity production

By Macharia Kamau 2 months ago

Kenya bets big on nuclear as US-Africa energy talks kick-off

Inside the decade-long bruising legal battle for 14 Riverside

The project was designed to be the epitome of high-end construction but contentious dispute involving billions of shillings has seen parties embroiled in court cases, arbitrations and appeals.

By Macharia Kamau 2 months ago

Inside the decade-long bruising legal battle for 14 Riverside

State forced to ignore of court orders on taxes to raise revenue

Epra has not reviewed fuel prices, acting contrary to court orders, despite having the legal tools to review prices in case of such developments.

By Macharia Kamau 3 months ago

State forced to ignore of court orders on taxes to raise revenue

Wandayi missed chance to lower fuel prices after court order

As the CS, Mr Wandayi would have been among the first people to be briefed, even consulted, about the pump prices before they were made public.

By Macharia Kamau 3 months ago

Wandayi missed chance to lower fuel prices after court order

Kenya Airways posts Sh513m profit after 10-year hiatus

Kenya Airways has been in the red for more than a decade, having last reported a half-year profit of Sh384 million in 2013.

By Macharia Kamau 3 months ago

Kenya Airways posts Sh513m profit after 10-year hiatus

Workers oppose private sector players in power transmission

Workers in the energy sector have opposed the handing over of some electricity transmission lines to private sector players under the public-private partnerships (PPP).

By Macharia Kamau 3 months ago

Workers oppose private sector players in power transmission

Troubled Mobius finds mystery rescuer in boost to local industry

The company says an undisclosed buyer has acquired 100 per cent of the shareholding after it announced closure last week after it failed to get traction in the market.

By Macharia Kamau 3 months ago

Troubled Mobius finds mystery rescuer in boost to local industry

Kenyans get raw deal in fuel prices

Epra fails to reduce VAT on fuel despite Appeals court declaring Finance Act 2023 illegal. Halving the tax would have knocked off Sh13 a litre, obeying orders on fuel levy another Sh7

By Macharia Kamau 3 months ago

Kenyans get raw deal in fuel prices

KenGen to spend Sh32.2 billion on new geothermal electricity plant

With the addition of 80.3 megawatts, geothermal will overtake hydro on the national grid. The firm accounts for two-thirds of Kenya's installed electricity-generating capacity.

By Macharia Kamau 3 months ago

KenGen to spend Sh32.2 billion on new geothermal electricity plant

Fuel prices remain unchanged as regulator ignores court ruling on VAT

Epra also retained value-added tax on petroleum products at 16 per cent despite the Court of Appeal ruling that the Finance Act, 2023 is unconstitutional.

By Macharia Kamau 3 months ago

Fuel prices remain unchanged as regulator ignores court ruling on VAT

KenGen eyes power storage facility to cut costly thermal

KenGen is planning to build a battery energy storage system that will store excess energy from its geothermal power plants in Olkaria to be used when demand goes up.

By Macharia Kamau 3 months ago

KenGen eyes power storage facility to cut costly thermal

Mobius Motors collapse casts doubt on the future of local auto industry

Mobius Motors may have also suffered access to capital from investors that has been drying up for companies in developing markets as investors take their money to the US.

By Macharia Kamau 3 months ago

Mobius Motors collapse casts doubt on the future of local auto industry

Confusion rocks tax payment after ruling on Finance Act 2023

Federation of Kenya Employers says KRA had not adjusted its tax systems to reflect the ruling by the Court of Appeal despite the refusal by the Supreme Court to issue stay orders.

By Macharia Kamau 3 months ago

Confusion rocks tax payment after ruling on Finance Act 2023

Higher fuel and forex charges expected to push up electricity bills this month

Electricity costs are set to go up this month following upward adjustments in fuel and foreign exchange costs.

By Macharia Kamau 3 months ago

Higher fuel and forex charges expected to push up electricity bills this month

Turkana oil project to delay further over plan review

Tullow Oil now expects to know the fate of its updated plan to develop the Lokichar oil fields by the end of December this year.

By Macharia Kamau 3 months ago

Turkana oil project to delay further over plan review

Inside plan to split Kenya Railways and rope in private players

The government plans to open up Kenya's railway network to different operators and at the same time split Kenya Railways into two entities.

By Macharia Kamau 3 months ago

Inside plan to split Kenya Railways and rope in private players

Finance Bill 2024: Why Kenyans may not be off the hook just yet

The government could still explore ways of introducing new or additional taxes, levies, and fees through the review of other laws.

By Macharia Kamau 3 months ago

Finance Bill 2024: Why Kenyans may not be off the hook just yet

Nyama Mama: Restaurant's rise, legal battles and uncertain future

Started in 2015, the eatery quickly expanded with its popular contemporary twist on traditional Kenyan dishes before a heavy hit from Covid-19 that led to difficulties in meeting debt obligations.

By Macharia Kamau 3 months ago

Nyama Mama: Restaurant's rise, legal battles and uncertain future

Tough options for Ruto after court blow to Finance Act 2023

State argues that it stands to lose Sh164 billion in tax revenues should Act be scrapped. Court decision means cheaper petroleum products, while PAYE for top earners would reduce.

By Macharia Kamau 3 months ago

Tough options for Ruto after court blow to Finance Act 2023

More headache for Treasury after court finds 2023 Budget unlawful

The government might have to further cut down its spending after the Court of Appeal declared the Finance Act 2023, unconstitutional.

By Macharia Kamau 3 months ago

More headache for Treasury after court finds 2023 Budget unlawful

Tender controversy hits Westlands NG-CDF school projects

Chaos erupted at the Westlands Constituency Development Fund (CDF) office on Wednesday as contractors raised concerns over the dilution of tender requirements.

By Macharia Kamau 3 months ago

Tender controversy hits Westlands NG-CDF school projects

Opiyo Wandayi faces energy sector cartels he blamed for high cost of power

Wandayi who has been nominated for the post of CS Energy and Petroleum in March last year said in Parliament that the problem with Kenya's energy sector is that it is infested by cartels.

By Macharia Kamau 3 months ago

Opiyo Wandayi faces energy sector cartels he blamed for high cost of power

TotalEnergies targets low income households with metred gas cylinders

The firm has partnered with M-Gas, which will provide pay-as-you-cook smart metres installed on TotalEnergies' LPG cylinders

By Macharia Kamau 3 months ago

TotalEnergies targets low income households with metred gas cylinders

Kenya and Uganda ready to build the Eldoret-Kampala oil pipeline

Senior officials from the two countries held talks last week, setting the stage for the pipeline that is expected to ensure the supply and security of petroleum products in Uganda.

By Macharia Kamau 3 months ago

Kenya and Uganda ready to build the Eldoret-Kampala oil pipeline

Kenya allows Uganda dairy imports amid claims of exclusion

Kenya has started allowing dairy products from Uganda to access the local market but authorities are now being accused of being selective in issuing permits to milk processors.

By Macharia Kamau 3 months ago

Kenya allows Uganda dairy imports amid claims of exclusion

Bamburi's major shareholders agree to sell to Tanzania bidder

A Tanzanian conglomerate that has bid to acquire Bamburi Cement has received backing from the major shareholders of the Kenyan cement firm.

By Macharia Kamau 3 months ago

Bamburi's major shareholders agree to sell to Tanzania bidder

Indian firm's takeover of JKIA set to raise passenger, business fees

Adani Airport Holdings has proposed doubling airport fees.

By Macharia Kamau and Benjamin Imende 3 months ago

Indian firm's takeover of JKIA set to raise passenger, business fees

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