ARM Cement IFC Still Negotiating Capital Injection Agreement
Kenya’s ARM Cement Limited is yet to finalise its capital injection agreement with the International Finance Corporation (IFC) with regards to a capital injection that will help the struggling company [...]
EAC Revenue Commissioners to Improve Income Tax Compliance to Curb Revenue Loss
The East African Community (EAC) revenue commissioners have agreed to improve income tax compliance of high net worth persons and SMEs in an initiative to address issues surrounding tax administration [...]Kenya Power Board Suspends MD Ken Tarus
Kenya Power Board of directors has suspended the company's Managing Director Ken Tarus following summons over graft allegations amounting to more than Sh 4.5 Billion involving 40 former and current [...]
Kenyan Parliament to Investigate Alleged Abuse of Dominance in the Telecom Sector
Parliament is set to investigate the alleged abuse of dominance in the telecom sector and the pricing of the major telecommunication services. Last week, Parliament’s Committee on Information Communication and Telecommunication [...]Tanzanian Govt Signs into Law the Public Service Social Security Act 2018
The Bill proposing to join all pension funds in Tanzania into two entities is now the Public Service Social Security (PSSS) Act 2018 after the Tanzanian government signed it into [...]Johnson Johnson to pay $4.7B in cancer case
A Missouri jury decided against Johnson Johnson in a trial in which 22 women claimed the company's talc products contained asbestos which caused ovarian cancer. The pharmaceutical giant was [...]Treasury CS Henry Rotich Dismisses CBK's Threat Claims
Treasury Cabinet Secretary Henry Rotich has dismissed the Central Bank’s claims that the Financial Markets Conduct Bill 2018 is a threat to the regulator. “We don’t attack institutions, these are [...]Hong Kong Kenyan Business Leaders Collaborate to Promote Trade and Investment
Last month, 80 Hong Kong business representatives were in Kenya looking for investment and business opportunities in efforts to reduce the trade imbalance favouring China. The business leaders from the [...]ICIFA to Expel Members Compromised in Recent Fraud Corruption Cases
The Institute of Certified Investment and Financial Analysts (ICIFA) is set to expel and take away the licenses of members connected to the ongoing fraud and graft cases. ICIFA Members [...]Bamburi Cement Boosts Production Capacity with New Production Line at its Nairobi Plant
Bamburi Cement Limited has finished constructing a new production line worth Sh4 billion at its Nairobi grinding plant. This is first stage of the company’s capacity increasing program which kick-started [...]KRA Urges Taxpayers to File Returns Ahead of June 30 Deadline
The Kenya Revenue Authority (KRA) is urging taxpayers who have not filed their 2017 tax returns to do so before the June 30 deadline. The penalty for a late income [...]Struggling CMC Motors Lays Off 110 Employees Citing Loss of Franchise Deals
Automotive distributor CMC Motors has sacked 110 employees in a move to realign its business. According to the company, the loss of franchise deals has impacted its sales thereby forcing [...]
