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 […]
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-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 […]
Kenya Ranked Top In Avocado Production
NAIROBI, Kenya, Dec 9 – Avocado exports generated Sh14 billion for the country in 2020 making Kenya among the top African exporter for the highly sought commodity in the world. This is according to the Horticulture Crops Directorate who revealed that the country exported 68, 000 tons of the fruit between January and October last […]
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 […]
President Kenyatta signs three Parliamentary bills into law
NAIROBI, Kenya Dec 8 – Digital lenders will now be regulated by the Central Bank of Kenya(CBK) following President Uhuru Kenyatta’s assent to the CBK (Amendment) Bill 2021. The new act now gives the CBK powers to license digital lenders in the country as well as ensure the existence of fair and non-discriminatory practices in […]
Twiga Foods to expand operations into Nyanza and Rift valley
Twiga Foods employees/ Twiga.com NAIROBI Kenya, Dec 8- Twiga Foods has expanded its operations in the country after raising Sh5.56 billion from a group of international Private Equity firms. The agritech company runs a mobile-based B2B food supply platform that supplies fresh fruits and vegetables sourced from farmers in rural Kenya to small- and medium-sized […]
New Law To Compel citizens to Separate Degradable and Non-Degradable Garbage
NAIROBI, Kenya Dec 7 – You will be charged Sh20, 000 or face six years in jail if you do not separate degradable and non degradable garbage, if the legal changes on waste management are adopted. The bill dubbed ‘The Sustainable Waste Management Bill, 2021’ makes it compulsory to separate garbage into organic, dry and […]
Two Purma Holdings Limited directors face jail term over Sh2.2 billion tax evasion case
Times Tower building in Nairobi, Kenya/ Courtesy NAIROBI Kenya, Dec 7- A warrant of arrest has been issued against two directors at Purma Holdings Limited having failed to appear before court to answer to charges over unpaid taxes valued at Sh2.2 billion. The order was issued by the Chief Magistrate at the Anti-corruption Court, Hon. […]
MTN Uganda IPO Falls Short Of Target
NAIROBI, Kenya, Dec 6 – MTN Uganda has raised Sh16.94 billion in its Initial Public Offering (IPO), falling short of the target by 36 percent. In a statement the telco said it had offered 4.5 billion shares to investors who bought 2.9 billion shares, less than two -thirds of its target. MTN Group was selling […]
