Kenya secures Sh85 billion World Bank loan
World Bank Group headquarters in Washington D.C/ Courtesy. NAIROBI, Kenya Mar 18- Kenya has received a $750 million (Sh85.8 billion) loan from the World Bank under its two-part tranche Development Policy Operation (DPO). The new loan facility will support the country’s budget and drive fiscal, power, water and land reforms even as the costs on […]
Kakuzi secures KEPHIS greenlight for China avocado exports
Avocados in a UK supermarket exported by Kakuzi/ TheTimes NAIROBI, Kenya Mar 17- Agricultural firm Kakuzi PLC has secured approval from the Kenya Plant Health Inspectorate (KEPHIS) to process and prepare export-grade fresh avocados for the Chinese market. The approval comes barely a month after the Chinese government allowed Kenya to export fresh avocados after […]
Cofek asks parliament to reject proposed road toll law
A section of Thika Super Highway in Nairobi/ constructionreviewonline.com NAIROBI, Kenya Mar 15- The consumer’s lobby group, Consumer Federation of Kenya (Cofek) has petitioned Parliament to reject a new law set to return toll fees on both old and new roads, on grounds that Parliament failed to meet the public participation requirement. “The said regulations […]
Court orders Judiciary to pay finance director Sh13 million
A view shows the Judiciary entrance of the Supreme Court building in Nairobi, Kenya/ REUTERS NAIROBI, Kenya Mar 11- The Labour Relations Court has ordered the Judiciary to confirm a senior official as the head of finance after serving in acting capacity for over five years. The court also found that the official, Susan Oyatsi, […]
KPA eviction from Lamu Port Halted
Kenya Ports Authority (KPA) is developing a new deep-sea Lamu port in Manda Bay, Lamu County, Kenya, aiming to create a regional transport hub/ KPA NAIROBI, Kenya Mar 10- The Court of Appeal has temporarily halted the restriction of the Kenya Ports Authority from accessing the Lamu Port-South Sudan-Ethiopia Transport (Lapsset) project over a compensation […]
City Hall rushes to sell assets over Sh4.4 billion KCB loan
Nairobi county/ nairobi.go.ke NAIROBI, Kenya Mar 9- The Nairobi county government has announced a fire sale of its idle assets, including land, over a defaulted Sh4.4 billion KCB loan. The push to raise quick cash comes weeks after the High Court cleared KCB Group to seize and auction the county’s assets over the defaulted loan. […]
Google commits $1 million to support women-owned businesses in Africa
Women conducting business in a market/ smefinanceforum.org NAIROBI, Kenya Mar 7- Google has announced that its philanthropic arm, Google.org, has committed $1 million in charitable funding to support programs helping women entrepreneurs grow their businesses. The funding comes as part of a series of new initiatives aimed at supporting women-owned businesses across the continent. A […]
East Africa’s early-stage VC investments grow $17 billion in 2021- report
Many East African startups continue to raise funding/ Getty Images NAIROBI, Kenya Mar 6- Early-stage venture capital (VC) investments recorded the fastest growth in new deals into East Africa last year, a new report has revealed. Majority of these deals were in financial, agribusiness and ICT sectors which have recently offered high growth potential for […]
US calls out Kenyan officials tipping off money launderers
Alex Sava | Getty Images NAIROBI, Kenya Mar 4- A new US report tracking global money-laundering hotspots has revealed that Kenyan officials handling money-laundering investigation files are tipping account holders of suspicious transactions to move their assets before raids, hampering the fight against money launderers. In its annual International Narcotics Control Strategy Report (INCSR), The […]
State in fresh bid to unmask Kenya’s business tycoons
AG Kihara Kariuki/ Facebook NAIROBI, Kenya Mar 1-The government has unveiled fresh regulations aimed at making public the names, residential addresses and occupations of secret shareholders in companies seeking state tenders. The regulations introduced by Attorney-General Kihara Kariuki require Public Procurement Regulatory Authority (PPRA) to reveal information on beneficial owners of firms that have secured […]
