Roads Authority to Raise Ksh350B for Development
The Kenya Roads Board (KRB) has announced an ambitious plan to float Ksh350 billion bond in 2020 to fund roads development, maintenance, and rehabilitation. Through the Kenya Roads Board Amendment [...]
Chinese Oil Giant Launches in Kenya
Chinese oil giant, Sinopec, has officially launched in Kenya. With its entry, stiff competition is will arise between the company and existing players such as Total and Vivo Energy. The African [...]
Kenya Invites Bids for Construction of KSh 5.8 Billion Thika Road BRT System
The Government of Kenya has invited bids for the construction of the Bus Rapid Transit (BRT system) that will be implemented on Thika Superhighway. According to Transport Cabinet Secretary, James [...]Winning Counties Under The New Revenue Sharing Formulae
A new revenue allocation formulae will see Nairobi County receive KSh21.2 billion out of the national revenue kitty of KSh 313.9 billion. This is an increase of KSh 5.4 billion. [...]
Jumia Kenya Lays Off Staff in Cost-Cutting Bid
Jumia continues to struggle with mounting costs and losses, recently highlighted by its recent exit in two countries. Gadgets Africa reports that Jumia Kenya has laid off 30 workers, as [...]70% of Digital Loan Defaulters Likely to Default Again
CreditInfo Credit Referencing Bureau (CRB) has recently released a report with data about loan defaulters. The report states that about 70% of mobile loan defaulters are likely to borrow again [...]Kenya Airways Bets on New System for Revenues Mobilization
Kenya Airways says it has announced the adoption of the Altea Network Revenue Management System (ANRMS) implemented by Amadeus. According to the airline's CEO, Sebastian Mikosz, the new system will [...]Equity Group Aims to be in 15 African Countries by 2026
Nairobi headquartered Equity Group Holdings (EGH) is targeting to expand to 15 African countries by 2026. Speaking to Bloomberg, Dr James Mwangi, said the bank is looking to capitalize on [...]State Corporations to Delay Submitting Financial Reports
State corporations are likely to further delay the announcement of financial reports pending appointment of the Auditor General (AG). The National Assembly will take a long recess from today, December [...]NTSA Caps Ride-Hailing Companies' Commission at 15%
NTSA has drafted a regulation where Ride-Hailing firms will charge a maximum commission of 15% per trip. The NTSA (Operation of Digital Hailing Operators) Regulations, 2019 seeks to plug in [...]Pending Bills Depress Business Activity
A huge portfolio of pending bills owed to suppliers by both the State and County Governments continue to depress the outlook of many firms in 2020. The future output sub-index [...]Dubai-based Fund Manager, Abraaj, exits Kenya
Abraaj Kenya Advisers Limited, part of The Abraaj Group- a private equity firm operating in six continents, has folded its operations in Kenya. The Dubai-based fund manager has already sent [...]
