KenGen approves rights issue to raise billions for energy projects

The Kenya Electricity Generation Company (KenGen) board has approved a rights issue to raise billions of shillings for its energy projects. KenGen said it would seek investors’ approval to issue up to 7.8 billion shares, reversing last year’s decision to issue up to 2.2 billion ordinary shares. Further approvals are expected from the Capital Markets Authority and the Nairobi Securities Exchange [...]

Longhorn in deals to reprint Bibles and dictionaries

Longhorn Publishers has signed deals to print and distribute reference materials such as dictionaries, Bibles, hymn books and charts as it seeks to cut over-reliance on textbooks. The Nairobi bourse-listed publisher Wednesday announced it had partnered with Cambridge University Press to exclusively re-print and distribute its dictionaries, Bibles, Scripture Union (hymnals) and charts from Cape Town-based Educat Publishers [...]

CA seeks 14 days to respond to suit by US-based telco

The Communications Authority of Kenya (CA) has asked the High Court to allow it time to respond to a suit seeking to compel it to intervene in a dispute between a US-based telecommunications firm and Kenya’s three mobile network operators. The firm provides international gateway services (IGS), through which people abroad can make calls to Kenya at relatively lower rates [...]

Court lifts suspension of 91 Tuskys staff accused of fraud

The Employment and Labour Relations Court has lifted the suspension of 91 workers of retail chain Tuskys Supermarket. Their employer accused them of working with an external cartel to clear goods from the store and later selling them to [...]

Start-up that links employers with job seekers comes of age

Fuzu.com uses an automated algorithm to match job applicants with potential employers based on an analysis of their CVs and metric tests scores. At least 16 big Kenyan companies have bought into the Fuzu.com idea and are already posting job vacancies on the portal, including Equity Bank, G4S, Swissport, Techno Brain and Accenture. Fuzu plans to have expanded into Uganda and Tanzania by early next year, spreading into West Africa later in the year [...]

Tullow to develop north Kenya fields despite low oil prices

Tullow Oil is working on a plan to develop its northern Kenya fields, it said in an update. “In Kenya, discussions with the Government regarding the draft field development plan for the discoveries in the South Lokichar Basin continue positively, with targeted submission by year end 2015,” said Tullow when it released its half-year results [...]

Coffee sales fall 23 per cent in Q3 even as State pumps in billions

Coffee sales fell by 23 per cent in the first nine months of the year despite reforms in the sector aimed at raising production. Coffee sales fell by 23 per cent in the first nine months of the year despite reforms in the sector aimed at raising production. The government set aside a Sh5 billion Commodity Fund this year to issue cheap credit to coffee farmers in its latest bid to revive the once-vibrant sector [...]

UK-based firm seeks low remittance costs to drive growth

London-based online money transfer service WorldRemit has urged European and African leaders to focus on reducing the cost of remittances ahead of the Valetta summit on migration. The summit, which started Wednesday in Malta, is expected to run for two days with a focus on the migrant crisis in Europe. It will look at ways of implementing development and poverty reduction strategies [...]