CA moves to hire market dominance consultant
The Communications Authority of Kenya (CA) has begun the process of hiring an international firm that will examine Kenya’s telecommunication and broadcasting sectors for market dominance and anti-competitive behaviour. The CA says in Expression of Interest tender documents seen by the Business Daily that the consultant will, among other things, identify the relevant markets (sub-markets) within the telecommunication sub-sector, the number of players and their respective market shares…[…]
Dyer says agencies poised to eat into Scangroup market share
Marketing services firm WPP Scangroup is likely to face increasing competition from international agencies coming into the Kenyan market, analysts at Dyer & Blair Investment Bank have said. As a result of the rivalry, the agency is likely to see its market share continue to shrink as its revenue generation is negatively impacted…[…]
Base Resources CEO earns Sh100m despite loss
The chief executive of mining company Base Resources was paid a bonus of Sh35.4 million last year, bringing his total pay to more than Sh100 million even as the company posted losses. The financial report of the listed Australian firm, whose main project is mining of titanium ores in Kwale, disclosed that the managing director Tim Carstens received a total package of Sh105 million at the current exchange ($1 million) that included basic salary, performance bonus and share options…[…]
KQ pays top three executives Sh95m in year of record loss
The pay for top Kenya Airways executives dropped by 8.4 per cent in the financial year ended March 2015, breaking a trend where their salaries and allowances have been on the rise even as the carrier sank into losses. KQ’s latest annual report shows that the annual take-home for executive directors declined from Sh105 million to Sh95 million, in a year when the national carrier posted a Sh25.7 billion after-tax loss, a corporate Kenya record…[…]
Kenya to benefit from Sh21 billion private equity fund
Kenya is set to benefit from a Sh21 billion ($200 million) private equity fund established by the African Development Bank (AfDB) to finance development of renewable energy. The African Renewable Energy Fund, which is headquartered in Nairobi, will invest in small and medium hydro, wind, geothermal, solar and biomass projects in the Sub Saharan region…[…]
Company tells court to compel Najib Balala to renew mining licence
A mining company says it stands to lose more than Sh1 billion in investment if its licence to mine special minerals in Taita Taveta County is not renewed. Megalith Company, based in Voi, says in court papers, through which it has sued Mining Cabinet Secretary Najib Balala that it had already invested colossal amounts of money for operations when the licence was revoked…[…]