Frankline Sunday - The Standard

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NEWS & CURRENT AFFAIRS

Digital News

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Frankline Sunday

KRA could miss out on millions in tax revenue from Zuku sale

KRA could miss out on tens of millions of shillings in tax revenue from the sale of Wananchi Group Holdings Ltd to Axian Telecom Ltd (ATL).

By Frankline Sunday 1 month ago

KRA could miss out on millions in tax revenue from Zuku sale

'Wrong e-mail address' claim fails to stop Sh283m JKIA tender

'Wrong e-mail address' claim fails to stop Sh283m JKIA tender

By Frankline Sunday 2 months ago

Higher education at crossroads amid budget cuts, new funding model

Higher education at crossroads amid budget cuts, new funding model

By Frankline Sunday 2 months ago

Court orders Rubis to pay fired boss of oil firm Kobil Sh34.6m

Court orders Rubis to pay fired boss of oil firm Kobil Sh34.6m

By Frankline Sunday 2 months ago

Auditor General wants closure of illegal bank accounts operated by counties

Auditor General says county governments operating numerous commercial bank accounts contributes to financial mismanagement and waste of taxpayer funds

By Frankline Sunday 2 months ago

Auditor General wants closure of illegal bank accounts operated by counties

Media trends: Radio, TV remain top news sources for Kenyans

Radio and television are the top sources for news among Kenyans despite increased digitisation in the country's media industry over the past decade.

By Frankline Sunday 3 months ago

Media trends: Radio, TV remain top news sources for Kenyans

Demos push Safaricom share price down 17pc

Safaricom has lost more than Sh118 billion in paper value over the past two months.

By Frankline Sunday 3 months ago

Demos push Safaricom share price down 17pc

Fund managers net Sh10b in 3 months as Kenyans spread risk

Money market funds are gaining traction as the preferred investment vehicle as CMA data shows total assets under management stood at Sh225b in March.

By Frankline Sunday 3 months ago

Fund managers net Sh10b in 3 months as Kenyans spread risk

Postal Corporation hikes costs for digital addresses by 2000pc

The cost of owning and operating a virtual post office box would go up from the current Sh400 to Sh9,450 for corporates and Sh2,000 for individuals.

By Frankline Sunday 3 months ago

Postal Corporation hikes costs for digital addresses by 2000pc

Safaricom scrambles to shore up Gen Z market in wake of protests

Safaricom found itself in a tight spot over reports of internet throttling when users across the country experienced outages and slow connections for hours during the protests.

By Frankline Sunday 4 months ago

Safaricom scrambles to shore up Gen Z market in wake of protests

Truths and lies during Ruto's Sunday TV interview

President William Ruto's claim that he has put an end to extrajudicial killings is false.

By Frankline Sunday 4 months ago

Truths and lies during Ruto's Sunday TV interview

Manufacturers have their way as MPs drop disputed levies

Kenyan manufacturers have won big as Parliament's Finance and National Planning Committee strikes out several proposed levies from the Finance Bill 2024.

By Frankline Sunday 5 months ago

Manufacturers have their way as MPs drop disputed levies

Watchdog now goes after tech giants with law review

CAK could soon begin regulating the activities of players in the digital marketplace in a move that could see platforms like Facebook and Google declared dominant.

By Frankline Sunday 5 months ago

Watchdog now goes after tech giants with law review

Security cash hits record high amid local, regional challenges

Ruto's administration is aligning itself with interests of the West, which is seeking to push back against the advance of Chinese and Russian influence.

By Frankline Sunday 5 months ago

Security cash hits record high amid local, regional challenges

State House exceeds budget by Sh1 billion

Initially, the budget for State House for the 2023/2024 financial year was set at Sh6.3 billion. It was later revised to Sh8.5 billion in the first supplementary budget.

By Frankline Sunday 6 months ago

State House exceeds budget by Sh1 billion

CA pushes for Sh88.5b nation-wide broadband

CA seeks to spend Sh28 billion over the next five years towards expanding mobile phone usage and mobile broadband to 66 and 65 per cent, respectively.

By Frankline Sunday 6 months ago

CA pushes for Sh88.5b nation-wide broadband

Court hands Makini Schools reprieve in row with PTA chairman

Milimani Principal Magistrate Sammy Opande denied Mr Bugo's request to enjoin the institution's parents and teachers' association in his dispute with its management.

By Frankline Sunday 6 months ago

Court hands Makini Schools reprieve in row with PTA chairman

How State regulation bit off Sh2.8b from Safaricom profits

Customers making transactions valued at less than Sh1,000 now enjoy a waiver on the daily maintenance fees for the first three days.

By Frankline Sunday 6 months ago

How State regulation bit off Sh2.8b from Safaricom profits

How your Sh26 daily has lifted Safaricom's earnings to Sh329b

Telco's after-tax profits grew by 13.7 per cent to Sh84.7 billion recorded in the year ended March 2024.

By Frankline Sunday 6 months ago

How your Sh26 daily has lifted Safaricom's earnings to Sh329b

Court throws out Jogoo Road residents' suit to stop eviction

Residents of Jogoo Road Phase Two Estate have lost their bid to challenge an eviction order from the government that seeks to demolish the estate and build affordable housing units.

By Frankline Sunday 6 months ago

Court throws out Jogoo Road residents' suit to stop eviction

Counties sitting on Sh1b emergency fund amid raging floods

Data from the Office of the Controller of Budget (CoB) indicates that Kenyan counties cumulatively set aside Sh1.9 billion to their emergency funds in the 2023/2024 financial year.

By Frankline Sunday 6 months ago

Counties sitting on Sh1b emergency fund amid raging floods

Nairobi County's uphill task to net Sh20 billion in land rates

Nairobi City County is looking to collect at least Sh20 billion in new land rates in a move that could make it the first devolved unit to fund its entire budget from internal revenue collection.

By Frankline Sunday 7 months ago

Nairobi County's uphill task to net Sh20 billion in land rates

New World Bank report warns of widening inequality gap, poverty

The latest report from the World Bank indicates that poverty levels in the country remain high even as the economy continues to post strong growth in the gross domestic product (GDP).

By Frankline Sunday 7 months ago

New World Bank report warns of widening inequality gap, poverty

Telkom Kenya the biggest loser as telcos shed 800,000 users

Telkom saw a 36 per cent decline in subscribers from 2.1 million customers as of September last year to 1.34 million subscribers in December.

By Macharia Kamau and Frankline Sunday 8 months ago

Telkom Kenya the biggest loser as telcos shed 800,000 users

The two women keeping a tight leash on Kenya's purse holders

AG Gathungu and Controller of Budget Nyakang'o have recently rubbed the State the wrong way. Both are facing unprecedented threats to remove them from office.

By Frankline Sunday 8 months ago

The two women keeping a tight leash on Kenya's purse holders

Safaricom Ethiopia set to surpass Kenyan operations

Safaricom Ethiopia is on track to surpass its Kenyan lead office in the next few years, in what could soon shift the focus of East Africa's most profitable firm from Nairobi.

By Frankline Sunday 8 months ago

Safaricom Ethiopia set to surpass Kenyan operations

Ruto, Gachagua splash Sh785m on travel in six months amid austerity

The executive offices of the President, Deputy President and that of the Prime Cabinet Secretary spent Sh820 million cumulatively in travel in the six months ended December 2023.

By Frankline Sunday 9 months ago

Ruto, Gachagua splash Sh785m on travel in six months amid austerity

Financial irregularities cast a shadow on eCitizen

Platform has inadequate internal controls and risk management systems with high convenience fee charges and lack of adequate data protection safeguards.

By Frankline Sunday 9 months ago

Financial irregularities cast a shadow on eCitizen

Audit uncovers 687 excess staff at Treasury

The latest audit report indicates that 687 staff have been hired to positions created without authorisation or seconded to posts above the approved headcount.

By Frankline Sunday 9 months ago

Audit uncovers 687 excess staff at Treasury

Former Absa workers cry foul over shrinking pension returns

The former employees worked for Barclays Bank Kenya before it rebranded to Absa Bank in 2016. They claim the value of their pension has fallen by half in the last 13 years.

By Frankline Sunday 11 months ago

Former Absa workers cry foul over shrinking pension returns

Airtel battles CAK and vendors in multi-billion airtime suit

Airtel Kenya has moved to court seeking to block the Competition Authority of Kenya (CAK) from investigating and taking action against the telco over alleged abuse of buyer power.

By Frankline Sunday 11 months ago

Airtel battles CAK and vendors in multi-billion airtime suit

Crypto assets gather steam despite market jitters

According to the IMF, crypto assets can undermine tax revenue collection and compliance, with the decentralised nature of the medium making it hard to collect third-party information.

By Frankline Sunday 11 months ago

Crypto assets gather steam despite market jitters

How Sh6 billion Telkom deal was hatched in 6 days

Report lays bare the heights of impunity by high-ranking government officials that facilitated the irregular transaction and some of the beneficiaries of the Sh6 billion payout.

By Frankline Sunday 1 year ago

How Sh6 billion Telkom deal was hatched in 6 days

Safaricom net profit jumps to Sh34.2b on increased lending

The value of loans disbursed on Fuliza overdraft service rose 32 per cent for the half year to Sh419 billion from Sh315 billion last year.

By Frankline Sunday 1 year ago

Safaricom net profit jumps to Sh34.2b on increased lending

Chirchir warns fuel prices could hit Sh300

CS and World Bank attributed the increase to the ongoing Israel-Hamas war. But CBK weekly bulletin indicates global oil prices are declining due to the dissipating impact of the war.

By Brian Ngugi and Frankline Sunday 1 year ago

Chirchir warns fuel prices could hit Sh300

What classification of some minerals as strategic means

The government has declared Cobalt, Tantalum, Lithium, Coltan, Niobium, Copper and other rare earths as strategic minerals amidst an economic boom in the local and global mining sectors.

By Frankline Sunday 1 year ago

What classification of some minerals as strategic means

Chiloba latest casualty of 'cursed' CA executive seat

Last week, the board announced the resignation of Chiloba who was appointed in October 2021, making him the shortest-serving director general of the CA in over 20 years.

By Frankline Sunday 1 year ago

Chiloba latest casualty of 'cursed' CA executive seat

How taxpayers are losing out in State agencies' loans

'Project Mawingu' flopped due to embezzlement of the credit line, which was spent on dubious deals that sunk the national airline further into the red.

By Frankline Sunday 1 year ago

How taxpayers are losing out in State agencies' loans

Hard questions in Telkom Kenya sale

Prof Ndung'u said ICA will inject capital to fund Telkom Kenya's infrastructure and settle some of its outstanding liabilities estimated at over Sh140 billion.

By Frankline Sunday 1 year ago

Hard questions in Telkom Kenya sale

Flutterwave bets on Kenya with Sh7b war chest as it awaits CBK license

Payments service provider Flutterwave is set to officially launch operations in Kenya in the next few months, pending approval by the Central Bank of Kenya (CBK).

By Frankline Sunday 1 year ago

Flutterwave bets on Kenya with Sh7b war chest as it awaits CBK license

Startup woes expose disruption myth

Dealfish, Kalahari Kenya, Mocality, OLX, Cheki, Jumia and Masoko, among others, have all attempted a crack at the country's e-commerce sector, with varying degrees of success.

By Frankline Sunday 1 year ago

Startup woes expose disruption myth

Telkom Kenya debts threaten to derail strategic deal

Telkom Kenya defaulted on its Sh4 billion payment to ATC Kenya under their Master Lease Agreement for a tower sale and leaseback transaction struck in 2018.

By Frankline Sunday 1 year ago

Telkom Kenya debts threaten to derail strategic deal

End of an era as Michael Joseph resigns from Safaricom board

Considered by industry insiders as the 'father' of Safaricom, Joseph's exit will likely be felt across the sector.

By Frankline Sunday 1 year ago

End of an era as Michael Joseph resigns from Safaricom board

State unveils Sh80b digital spending plan for technology sector

ICT CS Owalo said the government is on course to digitise 7,000 government services, an extra 2,000 that had earlier been targeted by June this year.

By Frankline Sunday 1 year ago

State unveils Sh80b digital spending plan for technology sector

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