Norfund Writes off KSh1 Billion Capital in Kinangop Wind Farm
Norfund has written off its KSh1 billion investment in Kinangop Wind Farm project. This follows cancellation of the project in 2016 after protests from the local communites, who cited inadequate [...]
Cost of Goods Rises as East Africa Faces Region-Wide Inflation
East Africa member countries face rising inflation as the year comes to an end. Kenya, Uganda, Tanzania and Rwanda saw prices of goods rise in November, as the festive season [...]Kenya’s Renewable Energy Attracts Chinese Investors
Kenya's renewable energy sector has attracted a bunch of Chinese investors, looking at the fact that Chinese energy companies are planning to invest billions of shillings in the sector. According [...]Red Cross' Boma Hotels Placed Under Receivership
The Kenya Red Cross (KRC) run Boma Hotels has been placed under receivership after failing to repay loans owed to National Bank of Kenya. According to financial documents, KRC was [...]Kenya to Unveil New Cruise Ship Terminal in 2020
Kenya’s new KSh350 million cruise ship terminal is set to be unveiled in early 2020, even as construction works are currently 95% complete. The new terminal encompasses duty -free shops, [...]Kenya Airways Names Allan Kilavuka as Interim CEO
Kenya Airways has named Allan Kilavuka as the new acting CEO effective 1st January 2020. The announcement comes after KQ CEO Sebastian Mikosz offered to resign effective December 2019. Allan [...]AfDB Commits €345 Million to Kenya and Tanzania
Kenya and Tanzania will benefit from African Development Bank (AfDB) €345 million financing package for road construction support representing 78.5% of the total €399.7 million project cost. Furthermore, AfDB says [...]
Garissa 50 MW Solar Plant Connected to National Grid
The President presided over the commissioning of the Garissa 50 MW Solar farm constructed at a cost of KSh13 billion. According to Xinhua, China Jiangxi Corporation for International Economic and [...]Short Trading Week Hurts NSE
At the Nairobi bourse, a short trading week impacted negatively on the bourse, pulling down its performance. Total shares traded and the number of deals decreased by 27.4% and 32.6%, respectively. [...]
NSE Issues Profit Warning
The Nairobi Securities Exchange (NSE) has joined a long list of listed firms that have issued a profit warning as a slowing economy hits the performance of many firms. The [...]Competition Authority Okays Airtel-Telkom Merger
After months of back and forth, the Competition Authority of Kenya (CAK) has approved Airtel-Telkom's merger. In a Kenya Gazette notice, CAK notes that Airtel Networks Kenya proposed to acquire [...]New Law to Protect Policy Holders in Collapsed Insurers
The Insurance Act now has provisions to protect policy holders in the event that an underwriter is in financial distress and its assets have been put under statutory management. This [...]
