Safaricom’s share of voice market drops as Airtel, Orange gain

Safaricom’s share of the mobile phone communications voice market has dropped by 3.8 percentage points in the past year, as the company ceded ground to rival telcos Airtel and Telkom Kenya. Industry data released by the Communications Authority of Kenya (CA) on Friday revealed that Safaricom’s share of the voice traffic had dropped to 74.1 per cent…[...]

Tuskys opens first exclusive branch for new clothing line

Tuskys Supermarkets has opened its first specialty clothing store on Nairobi’s Tom Mboya Street, targeting the mass market with its own apparel labels. The Sh50 million apparel store dubbed ‘Tuskys Essentials’ will stock ladies, mens and kids wear as well as baby clothing and accessories. It will also sell home living products such as beddings and luggage bags…[...]

Publishers seek State nod to increase textbook prices

Parents face higher price tags for textbooks if the government accepts publishers’ push for an increase to the cost of school books. The publishers say the price increase is intended to cover rising operating costs attributed mainly to the weakening shilling. The Kenya Publishers Association (KPA) on Monday said the depreciation of the local currency had raised the cost of producing books…[...]

Chinese banks’ interest in Equity signals Kenya entry

Two major Chinese banks sought to buy into Equity Bank as UK private equity fund Helios Partners exited, signalling potential entry into the Kenyan market of Beijing lenders eyeing growing trade with the region. Equity Bank chief executive officer James Mwangi said at a briefing there was buying interest from China Development Bank, China Construction Bank, Singaporean sovereign fund Temasek and South African pensions and investment fund Public Investment Corporation (PIC)…[...]

Electronic buying of T-bills with as little as Sh3,000 set for launch

Electronic investment in government securities with as little as Sh3,000 is expected to be launched this week according to the National Treasury. The system dubbed Treasury Mobile Direct (TMD) is set to help the government raise cash even from individuals in remote areas where the Central Bank does not have branches…[...]

Chris Kirubi predicts rosy future for Kenya Airways

Billionaire investor Chris Kirubi forecasts a rosy future for loss making Kenya Airways, planning more investments in millions of shillings as investors shy away. Mr Kirubi Monday told the Nation that on top of the 2.1 million shares he acquired in August, he will invest more millions surpassing the Sh11.6 million…[...]

Eddy Njoroge appointed to Globeleq board of directors

Eddy Njoroge, the former Kenya Electricity Generating Company (KenGen) CEO has been appointed to the board of directors at Globeleq, an independent thermal and renewable power producing company. The company owns the 75-megawatt Kipevu II thermal plant based in Mombasa…[...]

Telkom Kenya management wrangles stall fibre cable project

Talks on the sale of Telkom Kenya have stalled the installation of the National Optic Fibre Backbone Infrastructure (Nofbi) government project. A Telkom Kenya official told the Nation that the second phase of the project has not yet been sub-contracted for commercialisation and maintenance…[...]

KQ to pocket Sh1.4b from lease of three planes to Pakistan carrier

Details are now emerging that the Pakistan government is about to seal a deal to lease three Boeing 777 from cash strapped Kenya Airways (KQ). A section of Pakistan media reported over the weekend that Pakistan International Airlines (PIA), the national carrier, has finalised plans to take over, on lease terms, three planes from Kenya…[...]

State pledges to lower construction costs to spur development

Players in Kenya’s real estate industry stand to win big as the Government moves to harmonise levies and permits required to register construction plans. This comes as the Government seeks to reduce the costs paid by contractors and developers who had complained of numerous levies and licenses that slowed the industry’s growth…[...]