Here is a couple of things you are waking up to this morning:

1.  Africa’s under-40 millionaires share their secrets to success

Forbes this week published a list of ten African millionaires in their 20s and 30s. Prior to the publication of the Forbes list, How we made it in Africa had already featured interviews with many of the mentioned entrepreneurs. In this article, a selection of Africa’s under-40 millionaires share their secrets to success and give advice to other budding entrepreneurs.

2.  Kenya banks’ profits rise 38pc; cloud of bad loans hangs over sector

As Kenya’s banks reported a rise in profits, a controversial report released on Thursday last week by Citi Group Global Markets claimed they were overstating their profits, an argument dismissed by bank executives as false.

3.  Telecoms face tough times as margins fall, competition rises

In a clash between revenue-threatening state regulations and business, East Africa’s telecom firms are facing a storm as Kenya moves to slash mobile phone interconnection charges and Rwanda implements new tariff rules.

4. Kenya State Pension Fund’s Assets Rose 12% In Year To June 2011

The total value of investments by the NSSF advanced to 111 billion shillings from 96.4 billion shillings. Contributions from members rose 1 percent to 6.84 billion shilling.

5.  Poor energy use costs water firms millions

The energy audit study released on Friday shows that water service providers have been losing Sh103.8 million annually, which could otherwise be saved by cutting energy costs. This would further translate into lower water charges to the end user.

6.   New law seeks audit of military finances

The financial accounts of the Kenya Defence Forces will for the first time be subject to auditing if Parliament passes a new Bill into law.

The Constitutional Implementation Committee (CIC) has introduced a new part to the Kenya Defence Forces Bill 2012 that will require the forces, like other State organs, to annually submit their financial reports to the President and Parliament.

8.    Drop in fuel prices signals return to single digit inflation

The energy regulator’s announcement of a drop in fuel prices by the biggest margin, since Kenya started controlling the cost of petroleum products, has tipped the scales in favour of a return to single digit inflation, analysts said.

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