TransCentury CEO Gachao Kiuna resigns

The chief executive of investment firm TransCentury Limited Dr Gachao Kiuna on Thursday resigned from the company for undisclosed reasons. The listed investment firm has appointed Mr Ng’ang’a Njiinu, currently the firm’s head of corporate finance, as the acting chief executive. Dr Kiuna’s exit was followed today by the resignation of Mr Joe Karago, a non-executive director of the Nairobi Securities Exchange-listed firm [...]

Binatone taps Kenya’s growing consumer market
British brand Binatone has entered the Kenyan market with a wide range of products targeting growing consumer base. On Tuesday it launched its range of products including kitchen appliances, garment care, personal care, home cleaning and a wide variety of its fans [...]

Lake Turkana Wind Power farm to commission new turbines by March

Kenya’s quest to harvest cheap power from wind is taking shape as Lake Turkana Wind Power Ltd is set to commission turbines for the 310-megawatt plant by March. Electricity from the Marsabit-based wind farm will cost Sh8.6 per unit (8.5 US cents) or half that from diesel generators. The firm targets to inject the first 90 MW of wind power into the national grid by September [...]

Kenyan motorists fail to gain from cheap crude oil as prices fall marginally

Petrol prices have dropped by a dismal Sh1.42 despite global oil prices sinking to a 12-year low. In figures released by the Energy Regulatory Commission (ERC) yesterday, motorists will pay Sh86.64 for a litre of super petrol in Nairobi. Diesel prices also declined by a marginal Sh1.81 to retail at Sh76.70 in the city [...]

Legal hurdles stall Sh31.5 billion second container terminal concession plan

The Government's plan to open up the Sh31.5 billion second container terminal to the private sector for operation is now marred by multiple legal cases instituted by disgruntled bidders. The project meant to increase Kenya's trade along the coastline might not start any time soon after another case was filed before the High Court by a consortium [...]

Kenya’s diaspora cash hits a record Sh163 billion

Kenyans in the diaspora defied the grim state of the global economy sending to their motherland a record $1.6 billion (Sh163 billion) in remittances, says a new World Bank report. Kenya was among the highest recipients of remittances in 2015. This is a 16.5 per cent increase from [...]