Nairobi City Council Extends Waiver Period
As tweeted by K24 TV, the deadline for City Council of Nairobi Operation Clamp down for rates defaulters set to end today, August 8, 2012 has been extended for another ten days. We were though unable to get in touch with City…
No Compensation for Displaced Slum-Dwellers
The government will not reimburse Kenyans displaced by the upgrade of the railway line that passes between Mukuru and Kibera slums. According to the Ministry of Transport, slum-dwellers and businesses operating along the railway will not receive any compensation aside from their resettlement. This comes shortly after investors…
D-Day For Land Rates Defaulters
Today is August 8th 2012, the deadline for Operation Clampdown and hundreds of land rates defaulters are currently queuing at the county hall in an attempt to beat today’s deadline. Defaulters on property rates had earlier been given a 100% waiver and advised by the City Council of Nairobi to clear…
Scangroup Half-Year Earnings Grow as Share Trades High
Africa’s leading marketing services group has posted an 11 percent growth in pre-tax profit for the first six months of this year to 578.4 million shillings up from 520.9 million shillings last year as the group’s shares trade in their highest range since 2010. According…
Capping Interest Rates would Hurt Borrowers, says KBA
The push by members of parliament to have interest rates capped could hurt borrowers in the long run. Kenya Bankers Association chairman Habil Olaka says that the move will result to banks devising methods to have secure lending only which will lock out…
Food Items to be Exempted From VAT
Food items have been exempted from the effects of VAT Bill 2012 that is currently in parliament for debate. Finance Minister Njeru Githae told Daily Nation on Tuesday 7th August 2012 that the cabinet resolved to this move owing to pressure from the public. The…
Should Jobless Graduates be Paid?
University student leaders in the country are appealing to the government to set up a fund that would see jobless graduates get a monthly allowance. According to The Star newspaper, Kenya University Students Union (KUSU) wants the government to pay jobless diploma and degree graduates KES…
8 Things You Should Know This Morning
1. How De La Rue currency deal cost taxpayers Sh10bn The Central Bank of Kenya (CBK) used Sh10.2 billion (£75.3 million) to procure 2.6 million bank notes from De La Rue between March 2003 and December last year through expensive stop gap orders. The CBK placed six interim orders for…
Cargo Business Off the Road, onto the Track
Road freight and cargo hauliers are set for a big challenge from their rail counterpart. This follows RVR‘s launch of the KES 18 billion upgrade project of the Kenya-Uganda railway line dubbed Lunatic Express on Tuesday August 7th 2012. The upgrade is expected to bring onboard…
CMA Report Reveals Allegations on CMC Directors
A report released by the Capital Markets Authority (CMA) yesterday has revealed the extent of the allegations by the regulator against former directors of CMC Holdings Ltd, the publicly listed motor dealer. In the report prepared by the Board of the CMA,…
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