Kenyan shilling firms, stocks down on profit-taking
Commercial banks quoted the shilling at 89.05/15 at the 1300 GMT close of trade, compared with Tuesday’s close of 89.15/25. The main NSE-20 Share Index was down 54.65 points, or 1 percent, to close at 5,322.65 points. In the debt market, t bonds valued at 578.3 million
shillings were traded, down from 1.07 billion shillings on Tuesday. […]
Family Bank joins quest for cashless fare payments licence
Family Bank said it would introduce in Kenya contactless payment cards dubbed Visa payWave where users wave the card in front of a reader or point-of-sale to complete a transaction. The bank has applied to the Central Bank of Kenya’s for approval to issue the cards. […]
House team halts Equity Bank’s thin SIM venture
A committee of the National Assembly directed the industry regulator to halt the roll-out of the thin SIM card technology. The House committee on Energy and Communication has formed an 11-member committee led by Rarieda MP Nicholas Gumbo to supervise investigations into the technology following fears expressed by Safaricom that the roll-out could expose customers’ private data to illegal access. […]
Tuskys wins bid to re-open two Ukwala branches
Tuskys Supermarkets has obtained a court order allowing it to re-open two branches it acquired from rival Ukwala, marking a preliminary victory in its petition to overturn a ruling by the competition watchdog that stopped its bid to take over six branches of the retail chain. […]
While its competitor: Nakumatt Supermarkets and Kenya Union of Commercial, Food and Allied Workers ( Kucfaw ) have signed a Collective Bargaining Agreement ( CBA ) that will see the retail chain’s 4,500 unionisable employees take home a 22 per cent salary increase. According to the officials of the union, the collective bargaining agreement was a long time in coming and is bound to improve the living conditions of the workers. […]
KQ receives fifth Boeing 787 Dreamliner
Kenya Airways on Wednesday received its fifth B787 Dreamliner aircraft, further enhancing its capacity to operate inter-continental flights. The modern aircraft with state-of-the-art features, whose capacity is 234 passengers, touched down at the airline’s hub at the Jomo Kenyatta International Airport in Nairobi at 1000hrs. […]
High Court cancels Sh24 billion laptop tender award
The High Court Wednesday nullified the Sh24 billion tender to supply primary school pupils with laptops, throwing the government back to the drawing board on the project. A three-judge Bench comprising Justices Francis Gikonyo, George Odunga and Weldon Korir found that the entire process was botched, and ordered that it be done afresh to ensure fairness and equality to all parties interested in bidding for the tender. […]