1. Security Firms Making a Killing in Piracy Fight
According to Pirates and Privateers: Managing the Indian Ocean’s Private Security Boom, released recently, sheds light on the involvement of the security companies in fighting the sea crime.They charge between $5,000 (Sh400,000) and $20,000 (Sh1.6 million) per soldier.
2. Government Seeking Control of Kenya Airways
The government wants greater control of the management of Kenya Airways ahead of scheduled recruitment of the airline’s new boss after it became the largest shareholder in June. The Kenyan government now has a 29.8 per cent stake in KQ, against KLM’s 26.3 per cent.
3. Jamii Bora and Their KES 520 Million Rights Issue
Jamii Bora Bank has launched a Rights Issue targeting to raise Sh520 million. The Rights Issue which will trade through private placement will see Jamii Bora issue 3.7 million new ordinary shares at Sh140 each.
4. More Doctors Vow to Join Strike
Consultant doctors will on Tuesday join their colleagues in a strike that entered the sixth day on Monday.
Kenya Medical Practitioners, Pharmacists and Dentists Union (KMPPDU) chairman, Dr Victor Ng’ani, made the announcement on Monday.
Edinburgh-based Bowleven has agreed to acquire a 50% stake in a sprawling block in north-west Kenya from privately owned Adamantine Energy, in return for around $10 million (£6.2m) exploration costs. Chief executive Kevin Hart said Bowleven was delighted to add what he called a significant acreage position in Kenya to its operations in Cameroon, where the company has made discoveries that it hopes to bring into production.
6. Banks Salary Expense Raise Cost of Borrowing
Your loans may be slightly more expensive because of the amount of money that banks have to pay out in salaries. Banks say overheads, mainly staff remuneration, are the main determinant of high lending rates in the market, according to a research commissioned by the Kenya Bankers Association (KBA).
7. CellPhones Save the Day at World’s Third Largest Hospital
How an operation was carried out using only the light from a couple of mobile phones.
8. Speedy KRA System To Rescue Consumers
The Kenya Revenue Authority is working on a plan to ensure speedy clearance of goods in the region. Once in place, the Authorised Economic Operator system is expected to eliminate delays of clearance and delivery of imports. According to the Kenya Association of Manufacturers, the ripple effects of a fully implemented AEO system would result in benefits across the import and manufacturing chain and eventually trickle down to consumers.