DCI calls for suspension of two KPA managers amid theft probe
Directorate of Criminal Investigations headquarters along Kiambu Road, Kiambu/ Twitter photo. NAIROBI, Kenya, Nov 21 – The Directorate of Criminal Investigations (DCI) has called for the suspension of two Kenya Ports Authority (KPA) managers over a suspected container smuggling racket at the port of Mombasa. DCI says the two managers should temporarily be removed from […]
KCB Group profits more than doubles in Q3 of 2021
KCB Group CEO & MD Joshua Oigara/ Courtesy. NAIROBI Kenya, Nov 21– KCB Group Plc has posted a 131 percent jump in profits in the nine months ending September 2021 attributed to higher income and economic recovery from the Covid-19 pandemic. Net profit hit Sh25.2 billion in the period under review compared to Sh10.9 billion […]
KCB to buy out minority shareholders in Rwanda subsidiary
KCB Group CEO Joshua Oigara (right) Chairman Andrew Kairu (centre) and Group CFO Lawrence Kimathi during the release of the full-year result/ Courtesy. NAIROBI, Kenya, Nov 21– KCB Group has announced plans to buy out a 24 percent stake owned by minority investors in Banque Populaire du Rwanda Plc (BPR) next year. This follows its […]
Lifestyle audit of Kenya Power employees begin
Kenya Power employees attending to a faulty transformer in a city estate. Photo/PD NAIROBI Kenya, Nov 21 – Employees and their spouses at Kenya Power have been ordered to present their official financial and asset records to the Human Resources Department, signalling the beginning of a lifestyle audit amidst fraud allegations. In a memo to […]
Why DCI could be locked up for 4 months
Director of Criminal Investigations (DCI) Boss George Kinoti/ Courtesy. NAIROBI, Kenya Nov 18- The High Court has sentenced the Director of Criminal Investigations George Kinoti to four months in prison for contempt of court after failing to surrender guns belonging to businessman Jimi Wanjigi. Justice Anthony Mrima said in the ruling that the DCI boss […]
KRA surpasses October target collections by Sh12 Billion
Times Tower building in Nairobi, Kenya/ Courtesy. NAIROBI, Kenya, Nov 8 – The Kenya Revenue Authority (KRA) exceeded its target collection in October by Sh12.1 billion to hit Sh154.3 billion against a target of Sh142.2 billion. The performance was pumped up by Customs & Border Control (C&BC) collections that went up to Sh57.3 billion against […]
EAPCC fails to meet tax obligations
East African Portland Cement’s factory in Athi River (EAPCC). FILE PHOTO | NMG NAIROBI, Kenya Nov 13 – Cash-strapped cement maker East African Portland Cement Company (EAPCC) has failed to meet its tax obligations for the year ended June 30, 2021. According to the firm’s annual report, Auditor General Nancy Gathungu revealed that the company […]
KAA faces Sh37 billion worth of lawsuits
The Kenya Airports Authority (KAA) headquarters at the Jomo Kenyatta International Airport/ Courtesy. NAIROBI Kenya, Nov 12- The Kenya Airports Authority is facing mounting debt and is at risk of asset seizures and auction as contractors pursue Sh37 billion in debt claims against it in court. The claims are at different stages of adjudication at […]
Weekly coffee prices rise at Nairobi Coffee Exchange Auction
A Kenyan coffee farmer picking ripe berries/ Courtesy. NAIROBI, Kenya, Nov 11 – Coffee prices at the weekly Nairobi Coffee Exchange auction went up by 13 percent backed by higher prices at the global market. This is the highest margin this year that has seen a 50 Kilogramme bag hit Sh40,419 from Sh34,818 in the […]
Kenya Power steps up war on graft with proposed reforms
Kenya Power employees attending to a faulty transformer in a city estate. Photo/PD NAIROBI Kenya, Nov 10- Kenya Power is looking to streamline its procurement processes and flag insider dealings through the introduction of new reforms. The state-owned power distributor now wants all its suppliers delivering goods and services worth millions of shillings to disclose […]
