The City Council of Nairobi will be auctioning its debtors’ property and seize business premises in a bid to recover a Ksh 47billion debt owed to it in rate defaults. Last month the City Council took over the COMESA parking lot at Kenyatta…
The Communications Commission of Kenya board has been handed a short list of candidates who will be interviewed to fill the post of the Commissions director-general. The post fell vacant following an order issued by the High Court in August 2011 instructing Mr. Charles J.K. Njoroge…
Barclays Bank of Kenya has announced it would be cutting its base lending rate by 1.5% effective 1st August 2012. This comes a day after the Central Bank of Kenya‘s Monetary Policy Committee cut its lending rate by a similar margin. Following the decision…
The Energy Regulatory Commission has indicated that cooking gas will be cheaper from August this year. Speaking at a media briefing ERC Director General Kaburu Mwirichia said that Liquid Petroleum Gas (LPG) prices were expected to drop upon completion of the storage facility in Mombasa.
Proposals in the VAT bill 2012 if passed will hit the common citizen hard by increasing the cost of items on shelves. The draft bill which was discussed and approved by the Cabinet in February proposes to scrap the lower VAT rate of 12% and remove the zero rate on…
The Central Bank of Kenya‘s Monetary Policy Committee has this afternoon resolved to reduce the Central Bank Rate from 18% to 16.5%. This is a welcome move for borrowers as it could indicate lower interest rates on loans offered by banks. Commercial banks peg the…
Electronics company Philips has announced a new range of energy saving LED light bulbs which are aimed at replacing existing light bulbs in such areas as hotels and restaurants. The new LED range offer significant energy savings of up to 90%, a very long life…