8 Things You Should Know This Morning

Services paralyzed as workers’ protest spread

The protest by City Council of Nairobi workers over delays in effecting a salary increment negotiated two years ago spread to other local authorities Monday, paralysing services. City Hall workers downed their tools last Thursday, abandoning vital services like garbage collection. Revenue collection was also hit as parking attendants were not available to bill motorists. On Monday, they collected garbage, only to spill it on major streets within the Central Business District.

Kenya’s hydro-power sources drying up

Kenya’s hydro-power production capacity is about to be exhausted. Consequently, attention has now turned to geothermal sources estimated to have a potential of 10,000MW concentrated in the Rift Valley. Outgoing KenGen managing director Eddy Njoroge said the country’s capacity to develop new hydro-power sources was limited due to lack of sources where power can be tapped. “There is not much capacity left in hydro-power production. Production of hydro-power is site -specific. We do not see any other major hydro–power project coming up in the future,” said Mr Njoroge.

South African firms looking to invest in Kenya

Expanding South African companies are exploring investment opportunities in Kenya as one of the most lucrative destinations in the continent. Over 50 companies' representatives and businessmen are currently in the country to try and identify trade and investment possibilities. They are on a trade mission that started off in Nairobi on Monday and end in Mombasa later in the week, in a bid to enhance interactions with local business leaders.

Karua picks Lotodo’s son as running mate

NARC Kenya presidential candidate Martha Karua has picked Augustine Chemonges Liole as her running mate. Liole served as a member of the East African Legislative Assembly (EALA) between 2007 and 2012 and before that was a director of the Lake Victoria North Water Services Board. “In 2004 I was appointed as a director of the Lake Victoria North Water Services Board based in Kakamega, and with Hon. Karua as minister at the time we were the first to introduce new performance and transparency measures that others have been following ever since,” Liole said at his unveiling ceremony.

Chaotic Kenya primaries a preview of March poll?

Political parties on Monday announced the names of those who won Kenya's primary elections, which observers said were flawed and served as a bad sign for March elections. Violent protests hit pockets of Kenya's third largest city, Kisumu, over the weekend after many candidates said that the voting process was unfair and that party bosses favored certain contestants in their nominations.

 Huawei records 33 pc profit increase to KES 215 billion globally

Technology firm Huawei saw its profits after tax soar 33 per cent in the financial year ending December 2012. The global information and communications technology solutions provider said its net profits rose to Sh215 billion ($2.5 billion) in 2012, a 33 per cent increase from the previous year. Huawei chief financial officer Cathy Meng said the company achieved the growth in 2012 owing to a streamlined management, improved efficiency and keen focus on customers.

 COMESA gets tough over sugar import rules

A regional trading bloc has written to the Kenyan government asking it to relax the tough screening of sugar imports or grapple with sanctions. The Common Market for East and South Africa (Comesa), through the Ministry of Trade, is asking for a review of the current sugar import licensing procedures. This follows complaints from member states — Uganda, Malawi and Egypt — to the bloc’s secretariat that the procedures were too restrictive.

KQ to seek compensation for late Boeing deliveries

Kenya Airways will seek compensation from Boeing for delayed delivery after the aircraft manufacturer suspended global supply of its Dreamliner models following safety concerns. Boeing is expected to deliver the first of nine Dreamliners to Kenya Airways by March next year, which is already an extension as the plane maker was initially expected to make its inaugural delivery in the last quarter of 2013. Boeing on Friday made a decision to stop new deliveries of the Dreamliner planes after a battery problem sparked fires and smoke in several flights. The move is expected to hurt its supply pipeline.

1
...

Abacus is the result of over 10 years market experience and is licensed as a data vendor by the Nairobi Securities Exchange

Contact Us

Email: hello@abacus.co.ke
Tel: +254 792 753 774