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1. NSIS Put Gag Order On Saitoti Probe Findings
The National Security Intelligence Service (NSIS) issued a directive that forensic findings on the six bodies in the helicopter crash that claimed the lives of Internal Security minister George Saitoti, his assistant and four police officers be kept secret, the commission investigating the accident heard on Wednesday.
2. Kenya to Open Six More Embassies in New Economic Diplomacy Drive
Kenya is planning to open embassies in at least six Africa countries in an effort to deepen economic diplomacy on continent. Foreign Affairs Permanent Secretary Thuita Mwangi on Wednesday told the Nation that the government was planning new diplomatic missions in Ghana, Algeria, Morocco and Angola.
An embassy in Senegal will serve as a key entry point for Kenyan commerce into Francophone West Africa while a mission will also be established specifically for the eastern region of the Democratic Republic of Congo (DRC).
3. Africa's Test to Feed 750 Million Mouths
Africa must increase food production if it is to address food insecurity problems and cater for about 750 million people in the continent by 2050, according to a World Bank report. Speaking at the integrated soil fertility management (ISFM) conference at Safari Park Hotel, Nairobi, Dr Braimoh Ademola, senior natural resources management specialist, agriculture and rural development department of the World Bank, said crop yields might fall to as low as 20-30 per cent.
4. Accountants' Survey Shows How Much ACCA Members are Paid
An international certification association for accountants has moved to attract more interest in its programme through a study showing its members have broad career opportunities.
The Association of Chartered Certified Accountants (ACCA) released the results of an in-house survey showing that two-thirds of its members globally received a pay increase of at least six per cent last year.
5. Vodafone Takes MPesa Global
British telecoms giant Vodafone Plc has opened up its mobile money platform M-Pesa to rival operators in a move that could see millions of subscribers in 35 countries transfer money to Kenya through a single channel.
The UK firm on Wednesday announced that it will, from next month, connect M-Pesa to a leading international remittance hub —HomeSend — giving it a direct link to more than 21 international money transfer platforms.
6. Umeme Seeks Regional Power Supply Deals
Uganda's sole power distributor, Umeme is seeking to diversify its power sources to reduce reliance on the national transmitter to shield itself from shortages in future. The company which is currently holding an Initial Public Offer said it is open to short and long term partnership with alternative energy suppliers from the East African region. Umeme Managing Director, Charles Chapman singled out Kenya's Lake Turkana Wind Power Project, the geothermal project and the power supply from Ethiopia for consideration.
7. IMF Tells Africa Producers to Invest in Key Growth Sectors
The International Monetary Fund has urged African oil and gas producing nations to direct their revenue in infrastructure and education rather than on "white elephants". Exploration in east and southern Africa has been high in recent months as a result of big oil and gas discoveries in Tanzania, Mozambique, Kenya and other regional countries.
Antoinette Sayeh, the IMF's director for Africa, said on Monday the oil and gas sector does not create as many jobs as other sectors of the economy, but if the revenues were directed to education and transport links they would help create jobs.
8. Energy Ministry to Give Report on World Bank Deal
The Ministry of Energy and the Energy Regulatory Commission are preparing a report on the status of World Bank's involvement in the local energy sector. The industry regulators will be addressing media reports that the bank has withdrawn its support for the massive Lake Turkana Wind Power project.
The World Bank said it made the decision because the wind power would not serve the purpose of reducing cost of electricity for consumers as long as Kenya Power held the exclusive power purchase agreement.
The World Bank was to co-guarantee the €582 million debt for the LWPT with the lead financier being the African Development Bank. Kenya Power managing director, Joseph Njoroge yesterday declined to comment on the issue saying the ministry of Energy and the industry regulator were preparing a special report on this.
Abacus is the result of over 10 years market experience and is licensed as a data vendor by the Nairobi Securities Exchange
| Email: | hello@abacus.co.ke |
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| Tel: | +254 792 753 774 |