Speaking last week during an East Africa Energy and Gas summit in Nairobi, Energy minister Kiraitu Murungi said Kenya is moving to amend the Petroleum Exploration Production Act to align it with the present situation in the wake of oil and gas discoveries.

3. NBK Shocks Market With 67 Percent Drop In Profit

National Bank of Kenya (NBK) said net profit for nine months to September dropped 67 per cent on high deposit costs and analysts warn investors to expect lower dividends. The bank’s net profit dropped to KES 396.9 million in the period to September compared to KES 1.23 billion last year in period that has seen top bankers record double-digit growth on increased lending to companies and individuals.

4. Greece is Still Broken

Eurozone finance ministers have failed to reach a deal to give Greece the next tranche of its financial bailout. Following nearly 12 hours of talks in Brussels the Eurogroup said it had made progress on a package of measures to reduce Greek public debt, but needed more time for technical work.

The chairman of the Eurogroup Jean-Claude Juncker said they would meet again on Monday.

5. Make Mortgages More Affordable

 President Mwai Kibaki has called on mortgage providers in the country to offer affordable and flexible long term credit to enable people purchase or construct homes and commercial properties.

6. Kuttuny Threatens Demo Over Poor Maize Prices

Cherangany MP Joshua Kuttuny has threatened to lead fresh demonstrations against the government over poor prices of maize. Kuttuny said the demonstrations on Thursday will comprise famers from Trans Nzoia and Uasin Gishu.

7. Airtel Completed Largest Market Transformation In Africa

Bharti Airtel, a leading telecommunications services provider with operations in 20 countries across Asia and Africa, in the month of November completed a network transformation programme across its mobile operations in 16 African countries in partnership with Ericsson. The programme involved upgradation and expansion of network elements on all of Airtel's African operations, including switching, radio, network management, data, charging, and consumer-services platforms and systems, the company said in a statement.

8. Centum to Raise 60 Million for Regional Expansion

Kenyan investment firm Centum plans to raise $60 million this year mainly through the debt market to invest in power, financial services and consumer goods firms in east Africa, it said on Tuesday. The firm, which is also cross-listed on the Ugandan bourse, says it plans to grow its portfolio by about 60 percent to 30 billion shillings ($350.36 million) in two year's time, James Mworia, Centum's chief executive told an investor briefing.