Kenyans Forgo Unclaimed Assets as they hit Sh55 billion
UFAA Chairman Richard Kiplagat/ Courtesy NAIROBI Kenya, Jan 24- The Unclaimed Financial Assets Authority (Ufaa) is sitting on Sh54.8 billion in idle cash, shares and dividends and is struggling to reconcile the growing haul to its legitimate owners. Latest data by the authority revealed that Ufaa only received 2,315 claims between October and December last […]
Kenya Ramps Up Push For Covid-19 Vaccine Factory
A Kenya Medical Supplies Authority (Kemsa) depot in Embakasi, Nairobi/ NMG NAIROBI, Kenya Jan 21- The Kenyan government has invited firms across the globe to bid for the construction of a Covid-19 vaccine plant, a move aimed at locally manufactured jabs. Through a public notice, the State is looking to recruit a consultant and a […]
Consultancy firm demands share of Sh17 billion Centum deal
Centum Investment Company managing director James Mworia/ Twitter NAIROBI, Kenya Jan 20- The financial consultancy firm that helped Centum Real Estate ink a share subscription facility deal of upto Sh17 billion with GEM Global yield, now wants a share of the money. Raisin Limited has written to Centum Development Kenya Limited stating it had entered […]
UK to support Kenya’s infrastructure, financing agenda
Kenyan President Uhuru Kenyatta shakes hands with UK Prime Minister Boris Johnson/ PSCU NAIROBI Kenya, 19 Jan- The United Kingdom has reaffirmed its commitment towards supporting Kenya’s infrastructure and financial deepening agenda. Speaking at the Kenya -UK Infrastructure Partnership forum held in Nairobi, UK’s Minister for Africa Vicky Ford said her government is prioritizing green […]
Limuru Tea 2021 earnings to drop by 25%
NAIROBI, Kenya, Jan 18 -Agricultural firm Limuru Tea expects its net profit for 2021 to decline by at least 25 percent, citing lower green leaf volumes compared to 2020. In a notice to shareholders on Saturday, the Nairobi Securities Exchange-listed firm said business was weighed down by low tea prices and rising cost of production […]
Communications Union Seeks Government Bailout
Posta House in Nairobi’s CBD/ The Star NAIROBI, Kenya Jan 17- The Communication Workers Union (COWU) now wants the government to bail out the Postal Corporation of Kenya. The union which is affiliated to the Central Organisation of Trade Unions (COTU) wants the number of general managers reduced as a cost-cutting measure, and the Posta […]
KMRC Turns to Securities Market to Raise Sh10.5 billion
Traders at the NSE/ NSE website NAIROBI, Kenya Jan 14- The Capital Markets Authority has given the greenlight for Kenya Mortgage Refinance Company to float a Sh10.5 billion Medium-Term Note. The state-owned mortgage financier plans to issue the private bond in several tranches, starting with one for Sh1.4 billion which will be disbursed to participating […]
High Court suspends 50% rise in car insurance premiums
Plans to raise insurance premiums for motor vehicle insurance by up to 50 percent have been suspended by the High Court of Kenya, pending the determination of a case filed by a lobby group. In his ruling, Justice James Makau noted that the petitioner- Kenya Human Rights Commission stood a fighting chance owing to issues […]
Smallholder Tea Farmers to Receive Sh3 billion
A worker picking tea/ SCIENCE PHOTO LIBRARY NAIROBI, Kenya Jan 10- Kenyan tea farmers are set to receive Sh3 billion as payment for the December 2021 green leaf deliveries. According to the Kenya Tea Development Agency the payments will be disbursed to smallholder tea farmers through their respective factories. Some green leaf farmers have already […]
Lower Avocado Production to Hit Kakuzi Earnings
Avocado sorting and picking/Kakuzi NAIROBI, Kenya Jan 7- Publicly listed agricultural firm Kakuzi has issued a profit warning for the year ending December 2021, citing reduced avocado production in addition to lower prices of the fruit in European markets. The firm made a net income of Sh622 million back in 2020 and with the issuance […]
