Poor families conned of KES 7 billion in dubious scheme

Police are investigating a dubious investment scheme through which poor families may have lost more than KES 7 billion on expectations that their children would be educated for a token.

The Criminal Investigation Department (CID) said it was looking into the transactions of Mizpah Outlets Welfare Association, which also promised members huge returns of up to 50 per cent of their capital.

Ecobank issues fraud alert

Ecobank has become the second lender to issue a fraud alert to its customers, warning that scammers are sending out fake e-mail messages to steal confidential banking information.

“Please note that a number of scam e-mails are in circulation, which appear to originate from Ecobank, asking you to activate your web link and activate your online banking.

Cane shortage exposes Kenya to Comesa rivals

Cane shortage is hampering the operations of the sugar industry as millers struggle to keep machines roaring at full capacity without the raw material.

Key players like Mumias and Butali in the Western sugar zone, Sukari, Trans Mara, Kibos and Muhoroni in Nyanza Sugar Zone are all struggling with difficulties linked to raw material shortage.

Fear of election violence drives up political risk cover to KES 40 billion

Fear of violence during and after the March 4 General Election has seen an uptake of insurance against political risk by businesses in the country increase by more than 3,000 per cent.

According to Africa Trade Insurance Agency — one of Kenya’s main reinsurance company for political risk — the insurance cover taken stood at over KES 41 billion by December 2012 against KES 1.3 billion taken in 2008.

Kenya falls victim to cyber attack

Kenya is one 39 countries that fell victim to a prolonged cyber espionage campaign targeted at diplomatic and government agencies.

Research conducted in October 2012 by internet security firm Kaspersky has uncovered a massive, coordinated cyber-attack that went undetected for more than five years.

Dreamliner safety fears ‘premature’, claims KQ

Kenya Airways will forge ahead with its planned purchases of Boeing’s Dreamliner despite rising international concern over the aircraft’s safety.

Just months after Boeing delivered the first Dreamliner to a Japanese airline, the aircraft has been dogged by glitches.

KPLC in the spotlight as economic conditions improve

All eyes are on utility company Kenya Power as it compiles electricity bills for this month, with consumers expecting lower bills given the falling prices of fuel, low inflation, and a stable foreign exchange rate.

Further, increased rainfall in parts of the country in the past few weeks has increased opportunities for cheaper hydro-generated power as opposed to the more expensive thermal power.

Insurance goes country-wide

The Kenya Government has made plans to set up insurance agencies across all the 47 Counties. According to the Insurance Regulatory Authority (IRA), the government has already taken a bold step towards making insurance available in more parts of the country, beginning at a County level.

The initiative involves educating at least 100 people per County with regard to insurance packages and details about the industry that would otherwise remain undisclosed.