Kenya-Uganda Trade Ties Take a Blow as UG Bans Export of Farm Goods
Kenya’s President Uhuru Kenyatta shakes hands with Ugandan President Yoweri Museveni in Nairobi, Kenya on July 25, 2014/ Pacific Press. NAIROBI Kenya, Dec 15- The trade row between Kenya and Uganda is set to escalate further following Uganda’s announcement to restrict Kenya’s raw and processed farm produce from entering its market. On Monday, Ugandan Minister […]
Tuskys reveals it can only pay 34% of debt owed
Tuskys Supermarket on Kenyatta Avenue in Nairobi/ Courtesy NAIROBI Kenya, Dec 14- Tuskys Supermarket, once Kenya’s largest retailer, currently owes Sh19.6 billion to unsecured creditors, presenting more hurdles in the retail chain’s revival plans. The troubled retailer revealed in court papers that its total assets are only able to account for Sh6.67 billion or 34 […]
Sh5 billion debt row sets Dusit complex up for auction
14 Riverside Drive/ Citizen Digital NAIROBI Kenya, Dec 14- Justice Alfred Mabeya has allowed Synergy Industrial Credit to auction the property upon which DusitD2 hotel stands, over a Sh5 billion debt. This is after the judge dismissed an application by I&M Bank and its administrator, which sought to stall the sale arguing that the company […]
Illegal State processes cost taxpayers Sh112 billion
AG Kihara Kariuki/ Facebook NAIROBI Kenya, Dec 14- Contract breaches, unlawful dismissals, human right violations and other legal disputes emanating from unlawful decisions made by government officers may cost taxpayers Sh112 billion. An analysis of budget reports for the forthcoming year shows that ministries, departments, agencies and corporations run by the state were slapped with […]
Central Bank orders the shutdown of Imperial Bank
Imperial Bank LTD/ Courtesy NAIROBI Kenya, Dec 10- The Central Bank of Kenya has okayed the liquidation of collapsed Imperial Bank Limited ending the lender’s 20-year stint in the Kenyan market. Imperial Bank Limited was established in 1992 as a Finance and Securities Company. In 1996, the bank commenced commercial banking services, following the issuance […]
50:50 ruling on matrimonial properties overturned
Kenya’s Court of Appeal/ Courtesy NAIROBI Kenya, Dec 10- The Court of Appeal has reversed two precedent-setting judgments that had ordered for 50:50 division of matrimonial properties. Over the last decade Kenya has enacted laws to ensure equality of spouses in marriage and equitable distribution of matrimonial property. The second-highest court in Kenya overturned the […]
Kenya Development Corporation to increase loans to SMEs
The Kenya Development Corporation (KDC) during the launch of its strategic road map for the next three years/Courtesy NAIROBI Kenya, Dec 10- The Kenya Development Corporation (KDC) plans to grow its loans to small and medium enterprises in the country by 500% over the next three years. The new fully state-owned entity is looking to […]
Justice Chitembwe now wants Sonko evidence scrapped
NAIROBI Kenya, Dec 9- Justice Said Chitembwe now wants the court to bar the Judicial Service Commision(JSC) from using former Nairobi Governor Mike Sonko’s video recordings, social media and phone conversations from linking him to bribery. The High Court Judge says the recordings were obtained illegally without his knowledge or consent, meaning that Sonko obtained […]
Kenya-US trade ministers hold talks over Free Trade Agreement
Corporate Council on Africa (CCA) in partnership with Kenya Private Sector Alliance (KEPSA) during a roundtable discussion with Kenyan and U.S. business leaders and government officials/ Courtesy NAIROBI Kenya, Dec 9- Kenya and the US are revisiting discussions over trade policies giving hope to the stalled Free Trade Agreement (FTA) that started over a year […]
Court halts Uhuru Park renovation
Aerial view of Uhuru Park/ Wikipedia The Environment and Land Court has halted ongoing renovation of Uhuru Park by the Nairobi Metropolitan Services (NMS). In the order issued by Justice Edward Waboto, the NMS and its contractors or agents have been barred from felling trees or carrying out any construction works at the park. The […]
