Financial sector regulatory authorities could soon be operating together should proposals by Finance Minister Njeru Githae be adopted. The minister proposes to have Insurance, capital markets and retirement benefits regulators work together to “strengthen the supervisory capacity, safeguard stability and enhance efficiency of the regulators” “The Government will shortly commence…

The ongoing road expansion and improvement projects in Nairobi and around the country is a welcome move for many road users. The Thika Superhighway improvement project has attracted many Nairobi residents to move t0 estates along the road. The road, which was known for notorious traffic jams during rush hour…

Kenya Petroleum Refineries Ltd (KPRL) will start importing its own crude for processing beginning July this year. This is after the Mombasa based refinery was given a Ksh. 21.2 billion loan from Standard Chartered Plc. KPRL which has been refining petroleum products on behalf of marketers will…

Mobile operator Orange Mobile Kenya has introduced the first 3G Wi-Fi broadband internet sharing service in the country. This is the first Wi-Fi 3G enabled device with a billing interface to enable easy sharing of the wireless network with peers.  The wireless router which will use an Orange…

Finance minister Njeru Githae in his budget speech announced that the ministry was proposing changes in the law governing retirement benefits schemes to protect the businesses. “Individual Retirement Benefits Schemes are important vehicle through which increased coverage of savings for retirement can be achieved. To strengthen governance and encourage their growth, I…

Banks in the country will soon be offering their clients an array of services on top of the basic financial services. Adoption of proposed amendments in the Banking Act by Finance minister Njeru Githae will allow banks to legally conduct the varied services . “The trend globally is towards convergence…

Reinstating of road license will help reduce cases of selling and operation of stolen motor vehicles in the country. While reading the budget statement for the financial year 2012/13, Finance minister Njeru Githae said the recent removal of road license as a requirement had posed challenges to establishment of actual number of motor…

Information industry regulator Communications Commission of Kenya could conduct a new study to determine the most appropriate rate for mobile phone call termination. Mobile Termination Rate (MTR) is the amount of money a mobile operator pays a rival company when its subscribers call the rival’s network. The CCK board will…

Petroleum marketer Petrocity Enterprises Ltd is set to build a new oil refinery in the country at Konza along the Nairobi-Mombasa highway. The new refinery is expected to bring relief to the economy by increasing supply of refined petroleum products on the market to complement the Kenya…

A statement by Finance minister Njeru Githae in the recently presented budget statement reads: As promised by my predecessor last year, my ministry has now finalized the review of the VAT law to align it to the Constitution by making it simpler and modern, based on international best practice. After extensive consultations…