CBK steps into Safaricom, Equity duel

The Central Bank of Kenya has waded into the tag of war between banks and mobile money transfer platforms with a proposal to harmonize transaction charges. Through the 2011 National Payment System Act, the regulator is setting up a payment services management board (the Payments Association of Kenya) that will draw in telcos, switches, aggregators, electronic-money issuers, banks and other financial services providers in Kenya…[...]

Safaricom eyes Lapsset billions with fibre optic lease

Safaricom has leased Kenya Electricity Transmission Company (Ketraco’s) fibre optic cables linking the North and South Coast regions in a move targeting businesses that are expected to emerge from the new Sh1.5 trillion Lamu transport corridor. The telco giant said it is eyeing wholesale Internet provision to businesses that will be created by opening of the Lamu Port South Sudan Ethiopia Transport (Lapsset) project…[...]

Centum doubles employees bonus payout to Sh1 billion

Investment firm Centum more than doubled the bonus payout to its 90 staff to Sh1 billion in the year ended March, making it one of the largest bonus allotment in corporate Kenya translating into an average entitlement of Sh11.1 million per employee. The company’s bonus scheme, payable in three equal installments over three years, had accrued to Sh431.3 million the previous year…[...]

Kenya unveils plans for Sh5.3bn power lines to Tanzania

Kenya on Tuesday made clear its intention to sell excess electricity to Tanzania when it launched the construction of a Sh5.3 billion power transmission line to link the two countries. Kenyan officials said the construction of the 93-kilometre line will start in January and end in December 2017, coinciding with the planned generation of additional 5,000 megawatts (MW) of electricity to the grid…[...]

Sh15bn Kinangop wind park halted as land protests swirl

Construction of a Sh15 billion ($150 million) wind farm in Kinangop, Nyandarua has been frozen after running into strong headwinds tied to land acquisition. The proposed 61 megawatt Kinangop Wind Park, backed by Norwegian PE firm Norfund, South African asset manager Old Mutual and Sydney-based fund Macquarie, is on the verge of collapse after locals declined to offer their land for the project…[...]

Kenya Power renews bills payment pact with Uchumi stores

Kenya Power has renewed its bill payments service with Uchumi Supermarkets, four months after suspending the partnership over what it claimed were delays in remitting cash paid in by electricity users. The electricity distributor Tuesday said that renewal of the deal came after both parties entered into a payment pact for outstanding and future amounts…[...]

KRA eyes Sh3bn from rental income with tax amnesty

The Kenya Revenue Authority (KRA) on Tuesday launched a nationwide campaign that will see it target more taxes on rental income from the vibrant real estate sector with a tax amnesty for rental income…[...]

Andrew Mutuma appointed Kenya country manager for DHL Express

DHL Express has appointed Mr Andrew Mutuma as the new country manager for its operations in Kenya. As the country manager, Mr Mutuma is in charge of driving DHL’s fast-growing presence in Kenya. At the same time, he will provide strategic direction and oversee customer management, sales, marketing and operations in the country…[...]