yuMobile Hits 3 Million Subscribers
yuMobile has hit the 3 million subscriber mark, and has been the fastest growing mobile operator in the last 1 year gaining 68% of total industry new subscriptions in the period.
Government Plans for Capital Gains Tax on Oil Exploration Blocks
The government is in the process of working out a formula for taxing proceeds from oil explorers in the country. This has led to suspension of the sell of oil exploration blocks. Energy minister Kiraitu Murungi said during the East Africa Gas and Oil Summit 2012 that no firm will…
Petrol Prices Drop
Our predictions were right. Local fuel prices will as of midnight drop by KES 1.58, KES 0.26 and KES 1.14 for super petrol, diesel and kerosene respectively. Super petrol will retail at KES 113.68 from KES 115.54 in Nairobi, diesel at KES 105.85 from…
UAP Calls Investors For KES 750 Million Public Offer
UAP Holdings has called investors for the subscription of 12,5 million new ordinary sharesat a subscription price of KES 60 per share. The firm plans to raise KES 750 million in equity capital.
Citibank Cuts Base Lending Rate to 15%
Citibank has lowered its base lending rate to 15% down from 19%, a week after Central Bank lowered the CBR by 200 basis points to 11%. Inflation drop (4.14%) and a stable currency advised CBKs decision.
New Fuel Prices to Be Posted Today, What to Probably Expect
The Energy Regulatory Commission (ERC) is today, 14 November 2012, expected to announce reviewed fuel prices for the period starting 15 November 2012 to 14 December 2012. Based on the latest drop in international oil prices and marginal depreciation of the Shilling over the month of October, what should we expect in the forthcoming fuel price review?
SA Firm Pushes For SACCO Life Insurance Loans in Kenya
South African insurance company, Metropolitan Life is offering SACCOS a complete cover for both loans and shares. The firm hopes to build its brand in Kenya while providing the public with new life insurance packages.
CBK Licenses 8th Deposit Taking Microfinance
The Central Bank has licensed SUMAC DTM as the 8th DTM to focus on Small and Medium Enterprises (SMEs) to spearhead faster growth amongst small companies.
VAT Bill 2012 Set for 2013
The VAT Bill 2012, which is part of the ongoing tax reforms in the country which aim at increasing revenues, will be introduced next year after the general election. The treasury has said so.
Convert Shilling Directly to Chinese Yuan
With increasing travel and trade between Kenya and China, the need for easier of conversion of currency between the two nations is a welcome move. 1 Chinese Yuan is valued at approximately KES 13.74
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