Portland Cement fires 136 managers and supervisors
East Africa Portland Cement Company (EAPCC) issued 136 supervisors and managers dismissal notices last week in a cost-cutting restructuring plan. Senior officers including heads of departments and supervisors affected [...]
Six months reprieve for illegal LPG dealers
The Energy and Petroleum Regulatory Authority has given cooking gas retailers six months to comply with the new liquefied petroleum gas regulations. They now have until December 31st, 2019 to [...]
Paul Russo confirmed as NBK’s managing director
The Board of NBK has announced the appointment of Paul Russo as the managing director effective September 19, 2019. This follows last week’s Central Bank of Kenya (CBK) approval of [...]Chinese brands dominate Kenya’s smartphone market
Smartphone brands from China rank at the top of the most popular among users in Kenya due to their affordability and high performance. A survey by audit firm Deloitte- titled [...]Online forex exchange broker EGM survives depressed NSE
EGM Securities Limited, an online foreign exchange broker, earned brokerage commissions amounting to Sh 1.44 million for the six months ending June 30th, 2019. This is compared to Sh 4, [...]KTDA awarded Sh53M in a landmark ruling
The High Court in Nairobi court awarded KTDA Sh53M in a breach of contract ruling against Victoria Tea Brokers. The landmark ruling sets precedence against breach of the contract thus [...]Tax-exempt green bonds could encourage investment
Parliament’s Finance and Planning Committee supports a proposal to exempt green bonds from withholding tax citing that it will encourage more people to invest in the market. In addition, [...]Rand Merchant Bank Ranks Kenya East Africa's Top Investment Destination
Kenya remains East Africa's top investment destination in the Where to Invest in Africa 2020 report released by South Africa’s Rand Merchant Bank. The country was ranked fourth in Africa [...]
Off-Grid Solar power systems powering rural economies in East Africa
Off-grid solar energy consumption has been on the rise lately in Kenya and East Africa. According to a report by GOGLA (Global Off-Grid Lighting Association), close to 30 million people [...]Safaricom's Investment In Infrastructure Pays Off
Safaricom created 978,633 direct and indirect job in the year ended 31st March 2019. The company contributed KSh 601 billion to Kenya's GDP which is about 9.6 times its annual [...]
Demonetization, high public debt, tough austerity- concerns as MPC meets
The phasing out of the One Thousand Shilling note at the end of this month, escalating of public debts and austerity measures by National Treasury are the key concerns as [...]Shelter Afrique reports KSh7.8 million profit in second quarter
Shelter Afrique recently released its second-quarter financial results as it announced its turn around plan. Shelter Afrique reported a net profit of Ksh 7.8 million compared to a loss of [...]
