APA Life, Craydel partner to help parents fund higher education
Craydel founder and chief executive Manish Sardana and APA Life Assurance chief executive Catherine Karimi during the signing of a partnership deal/APA NAIROBI, Kenya Apr 6- APA Life Assurance and education tech firm Craydel have partnered to help parents and learners plan better for funding higher education. APA Life Assurance will provide access to financial […]
Limuru Tea Losses Go Up By 70pc In 2021
NAIROBI, Kenya Apr 5 – Limuru Tea has posted a 79 percent increase in losses in the year ended December, 31 2021 to post Sh14.2 million pre-tax losses compared to Sh7.9 million losses incurred in 2020. Management attributes the decline to low production volumes on the back of lower rainfall that went down by 40 […]
Treasury reveals plans to provide cheaper cooking gas by July
A variety of cooking gas cylinders/ themailnewsonline.com NAIROBI, Kenya Mar 25- The National Treasury is currently looking into plans to reinstate the subsidy scheme aimed at providing Kenyans with cheap cooking gas from July as LPG (Liquefied Petroleum Gas) prices in the country continue to soar. Spiking crude oil prices in the wake of the […]
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 […]
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 […]
