Kenya has signed a credit deal with the World Bank totaling  US$300M (KES 25.5 Billion) which will be used to fund the National Urban Transport Improvement Project (NUTRIP). The concessionary loan would be repaid within 30 years at the rate of 0.75%, with a…

Manufacturer of flour and maize meal products Unga Group has released full year results for the year ended June 2012 with a decline in post-tax profit to 348.2 million shillings from 441 million shillings earned in 2011. Comparatively, the company’s post-tax earnings rose 88 percent between 2010…

It is estimated that there are about 680,000 counterfeit phones on Safaricoms’ network, 100,000 on Airtel Kenya, 45,000 on yuMobile and 20,000 on Telkom Kenya that will be switched off on 30 September 2012. Is your phone amongst the unlucky few? Earlier this week a rumor…

The ongoing efforts by the National Social Security Fund (NSSF) to secure the support of key stakeholders ahead of a scheduled transformation programme have received a shot in the arm from the civil service top guns. The draft National Social Security Pension Trust Bill 2012…

1. Kenya Troops Take Control of Kisimayu KENYA DEFENCE Forces take control of Kismayu, the last remaining al-Shabaab stronghold in Somalia. 2. Energy Minister Cancels Oil Import Tending Following Queries on Pricing  The ministry of Energy was on…

INDICES The NSE 20 Share Index today performed 29.63 points better to close at 3,980.53 from 3,950.90 points yesterday and  the All-Share Index alsorose by 0.76 points to close at 86.98 points from yesterday’s 86.22.   Image source: “FILE” HIGHEST VOLUMES Safaricom shares were for a third day the most traded shares at the…

With barely three days to the massive counterfeit mobile phone switch off by Communications Commission of Kenya, more than one thing is at stake. People will be cut off from the regular communication network, cost will be incurred in acquisition of new phones and most…

The CCK have put their foot down, counterfeit phones will be put off on 30th September, no matter what. Where has this come from? Why are they putting off phones? We take a look at counterfeit phones in Kenya, and their story.

Ecobank has announced that it will be deploying several Automated Teller Machines (ATMs) in strategic locations across the country before the end of the year. Speaking during the awarding of winners of Ecobank’s Angukia hao promotion, Ecobank Kenya Managing Director Tony Okpanachi said this will…

Kenya’s largest independent power producer Kengen has released its financial results for the year ended June with net profit rising 35 percent to 2.8 billion shillings from 2.08 billion shillings posted last year. The company’s growth in earnings was driven by higher revenues from newly commissioned power plants namely…