NTSA Orders Impound City Tram and 8 Other Matatu Saccos
The NTSA has issued a notice suspending the licenses of nine matatu saccos in the city. According to the notice, the nine saccos violated provisions of the Authority, operating below [...]
State disburses Sh 8.3 billion for roads maintenance to Counties
The Kenya Roads Board Fund (KRBF) has disbursed Sh 8.269 billion to County Governments for the financial year, 2018/19. This allocation is a conditional grant for maintenance of County Roads. [...]Delivery Firm Glovo Expands to Mombasa
Delivery firm Glovo has officially launched its service in Mombasa after it raised KSh 17 billion to partly go towards growing its African footprint and expanding its delivery portfolio. Glovo, [...]NIC-CBA merger takes effect
The amalgamation of Commercial Bank of Africa Limited and NIC Group PLC took effect on Monday 30th September. This follows approval from the Acting Finance Cabinet Secretary and the Central [...]East African Tea Market Plans to Attract Chinese Buyers
The East African tea industry is seeking to expand into the Chinese market as a strategy to boost its declining revenues. According to Edward Mudibo, the managing director of the [...]Cost of Household Commodities Dropped in September
The cost of goods in Kenya fell in September as per data from the Kenya National Bureau of Statistics. The country recorded lower inflation levels as compared to a similar [...]Motor, medical insurance biggest loss-makers, says Deloitte report
While motor private and medical classes are the two largest units in Kenya’s insurance underwriting business, they are also among the most loss-making businesses. Other major business classes, in terms [...]Two Stanbic Board Members Retire
Stanbic held its Annual General Meeting and unanimously passed various resolutions. The investors approved the payment of a final dividend of KSh3.55 per share for the past financial year. Messrs [...]Oil Exports and the Private Sector are key to Kenya's Economic Diversity
Kenya’s new status as an oil-exporting nation play a crucial role in diversifying the country’s economy. Moreover, East Africa's diversity is the ultimate shield against fluctuating prices from global trade [...]IM Bank and Tatu City ink Property Financing Deal
IM Bank has agreed to finance private buyers of property within the 5000-acre Tatu City development plan. A Memorandum of Understanding between the two companies will make it easier for [...]
Little Shuttle Halts Operation as from 1st October 2019
The Little Shuttle service has been temporarily halted with effect from October 1st 2019 following a directive from transport authorities. The authorities argue that Little does not have the right [...]Afrexim Bank opens East Africa Branch in Uganda
The African Export-Import Bank (Afrexim) officially signed a deal with Uganda where the bank will open an East African Branch office in Kampala. The deal was officially signed by President [...]
