Political parties earn millions from aspirants ahead of polls

The three major political coalitions collected at least Sh185 million in nomination fees arising from the recently concluded party primaries.

The amount is derived from charges paid by 1,510 candidates that the Coalition for Reform and Democracy (Cord), the Jubilee Alliance and the Amani Coalition collectively cleared to vie for various positions, excluding county representatives, in the March 4 General Election.

Telkom loses landline users in shift to mobile phones

Telkom Kenya has lost 52.7 per cent of its fixed landline subscribers in the 12 months to September 2012 due to changing consumer preferences and copper vandalism.

The latest data from the industry regulator, the Communications Commission of Kenya (CCK), indicates that the number of fixed landlines declined to 70,390 in September last year from 148,816 in a similar period in 2011.

CMC appoints executive past the regulator’s deadline

Troubled CMC Holdings has appointed an in-house company secretary way past the deadline set by the Capital Markets Authority.

The auto dealer informed the capital market regulator of Nelly Matheka’s appointment as company secretary effective Thursday less than six months after she quit a similar position at the Standard Group.

Internet speed set to double as two telecom giants lay fibre optic cable

Two undersea fibre-optic cables are set to land in Kenya, promising Internet users faster and cheaper connectivity.

Sources in the Ministry of Information and Communications told the Nation that two international telecommunication firms have independently launched plans to lay undersea fibre-optic cables to the Kenyan coast as demand for high speed data connectivity continues to rise.

New regulations spark fears over validity of old title deeds

Anxiety is growing among investors holding title deeds under the Government Lands Act due to lack of clarity on whether their property will revert to the State once the county governments come to effect.

The developers have indicated that financial institutions have tightened their credit rules, even rejecting some of the title deeds which were issued under the Government Lands Act (GLA) after the passage of new land laws by Parliament.

Digital migration: Film sector grapples with funding crisis

Film industry players are grappling with ways to finance content production to meet anticipated high demand once the switch over to digital migration is effected.

The switch from analogue to digital television broadcasting now scheduled to take place after the March 4 General Election is expected to trigger a huge demand for local film content.

Konza city to challenge India’s tech giants

The Government has begun converting 5,000 acres of savannah dotted with antelopes and ringed by hills into the most modern city in Africa.

Contractors begin work this week on the $10billiom (about Sh1 trillion) Konza Techno City project.  It is 60km south of Nairobi, which has been dubbed Kenya’s Silicon Savannah.

Reits regulations to be gazetted before March

Regulations for the Real Estate Investment Trusts, a new capital markets instrument, are expected to be gazetted before March 4, raising hopes for creation and listing of Reits schemes for the first time in Kenya.

The Capital Markets Authority’s acting chief executive Paul Muthaura said yesterday that the Reits framework has been finalised and submitted to the Finance minister who is now expected to gazette them before his term ends.