Milk prices drop!

Milk displayed at Tuskys supermarket. [Photo/Courtesy] Agriculture Cabinet Secretary Willy Bett has announced that milk prices will drop by Sh10 per 500ml packet starting, June 1. Following the announcement, a 500ml packet of fresh milk will now cost Sh55, whereas the same size of UHT packets will cost Sh65. Addressing the press, Wednesday, Bett said…

Celebrations as Uhuru launches first ever SGR Cargo train

President Uhuru Kenyatta gracing the launch of Standard Gauge Railway (SGR), Cargo operations at Port Reitz, Mombasa county, May 30, 2017. [Photo: PSCU] President Uhuru Kenyatta has launched the Standard Gauge Railway (SGR), Cargo operations. Speaking at Port Reitz in Mombasa county, Uhuru said Kenyans and the more than the 300 million residents of the region are…

KQ records profitable loss after months of turn-around strategy

  The outgoing Kenya Airways Chief Executive officer Mbuvi Ngunze (R) and Chairman Michael Joseph. [Photo/the-star] The Kenya Airways has recorded a ‘profitable loss’, after its full-year loss before taxation dropped from Sh26.2 billion, to Sh10.2 billion, for the period ending March 31, 2017. Operating costs went down from Sh67.86 billion to Sh65.36 billion, revenue went down 8.5 per…

President Uhuru opens two international hotels in Nairobi

President Uhuru Kenyatta of one of the two Nairobi luxurious hotels, May 23, 2017. [Photo/PSCU] The Tourism sector has received a major boost after President Uhuru Kenyatta opened two international hotels and laid the foundation stone for the tallest building in Africa. The Nairobi hotels include: the Park Inn Hotel, in Westlands which has a…

Waititu wants Court to suspend Kabogo’s tax partnership with KRA

Kabete MP Ferdinand Waititu has a filed an application in Court, seeking to stop a Memorandum of Understanding (MoU) between the County government of Kiambu and the Kenya Revenue Authority (KRA), which sought to help the County collect Single Business Permit fees and Property taxes. The MP argues that the MoU was illegal since most…

Industrial Estate to train marginalized groups on SMEs

The Kenya Industrial Estates Ltd (KIE) is partnering with the County government of Uasin Gishu, to train over 500 youth, women and People Living With Disability (PLWD) on Small and Medium Enterprise (SMEs). The training is aims to empower the three groups to enable them easily access Sh35 million SME funds allocated by the Kenya…

Tire firm Sameer Africa closes Kenyan doors, hundreds lose jobs

Tyre poducing firm- Sameer Africa Ltd has announced that it will close its manufacturing plant in Kenya as it reels from the effects of cheap tyre imports flooding Kenyan market. The company’s managing director Allan Walmsley said Sameer Africa will close shop from the 30th of this month after approval by Capital Markets Authority. The…

Eastleigh hawkers vow not to leave streets despite demos by traders

Hawkers in Eastleigh Nairobi have stated that they will not leave the streets unless the County government sets aside adequate space for them to conduct business. This follows shutdown of major shopping malls and shops by traders in the area and peaceful protests over uncollected garbage near their shops, poor sewerage systems and hawker menace…

Bankers Association asks banks to enforce interest rates law

Banks governing body, the Kenya Bankers Association (KBA) has resulted to obey the Banking Act 2015, which controls interest rates at not more than 14.5 per cent. As it awaits the gazettement of the legislation and operationalisation by the Central Bank of Kenya (CBK), KBA said all new loans will now be at not more…

Jomvu MP Badi oppose appointment of Johnny Andersen as KAA CEO

Jomvu MP Twalib Badi has opposed appointment of Johnny Andersen as the new Managing Director (MD) and Chief Executive Officer (CEO) of the Kenya Airports Authority (KAA). Badi says Yatich Kangugo who was the KAA Acting MD and should have been elevated to take full responsibilities and functions as the MD. The MP told the…

Barclays bank targeting SMEs with low interest loans

Through Wezesha Biashara Campaign, the Barclays Bank of Kenya is giving out 17.5 per cent interest rate on loans to help Small and Medium sized Enterprise (SMEs) advance. The Bank has set aside close to Sh30 billion, targeting ten thousand SMEs in eleven towns, countrywide. Head of Retail and Business Banking Humphrey Muturi says they…