Finance Ministry Introduces Robin Hood Tax in Kenya
During the 2018/2019 budget announcement last week, the Finance Cabinet Secretary Henry Rotich introduced a ‘Robin Hood’ tax of 0.05 per cent on transactions of more than Sh500,000 made through [...]
Carrefour Opens 6th Kenyan store at Galleria Mall
Majid Al Futtaim has announced plans to open a new hypermarket at Galleria Shopping Mall on Langata Road in July 2018. The hypermarket will be Carrefour’s sixth store in Nairobi [...]
Kenyan Gvt Set to Drill 200 Additional Wells in Petrodollar Rush
Kenya is set to drill more than 200 oil production wells that will supply up to 80,000 barrels of crude oil each day as the government targets early petrodollars. Tullow [...]Abraaj Agrees to sell its Fund Business which include Java Brookside
Troubled Dubai-based private equity firm Abraaj Group has agreed to sell a huge chunk of its fund business to US investment management firm Colony Capital according to various media reports. [...]World Bank Approves $50 Million to Boost Kenya’s SMEs
The World Bank has approved a $50 million International Development Association (IDA) credit to increase scale innovation and productivity amongst Kenya’s Small Medium Enterprises. The Kenya Industry and Entrepreneurship [...]Airtel Kenya abruptly ditches merger plan with Telkom Kenya
Airtel Kenya has abandoned plans to merge with Telkom Kenya, a paln that was aimed at taking on market leading operator Safaricom. The move would have let the Telco’s’ grab [...]KenGen Senior Officials Summoned Over Nepotism Corruption Claims
The National Assembly’s National Cohesion and Equal Opportunities committee has called for senior managers from the Kenya Electricity Generating Company Limited (KenGen) to appear before them over claims of corruption [...]Electricity Tariffs to Decline by 8% in July in Plan to Reduce Cost of Power
Kenya Power and the Energy Regulatory Commission (ERC) have announced that electricity costs will decline by eight per cent starting from next month. The ERC chief executive officer Pavel Oimeke [...]Kenya to open two new consulates in China to boost ties
President Uhuru Kenyatta has announced that Kenya will open two new consulates in China in order to enhance trade and bilateral relations between the two countries. The two consulates, will [...]Track laying of Nairobi-Naivasha SGR Phase 2A kicks off
The laying of railway track of Nairobi – Naivasha SGR Phase 2A has begun and is expected to be completed within the next 18 months according to China Communications Construction Company, [...]Safaricom Disapproves Budget Proposal to Increase Mobile Money Transfer Excise Duty
Safaricom has disapproved Treasury’s budget proposal to increase excise duty on mobile transfers from 10 per cent to 12 per cent as part of Govt's strategy to raise an additional [...]Kenyan Banks Lose Opportunity to Finance the Lamu Coal Plant Project
Kenyan banks have lost the opportunity to finance the $2 billion Lamu coal plant project because they lack the depth and tenor to fund large projects over an extended period. [...]
