CBK to sell five and 10-year Treasury bonds
The Central Bank of Kenya said on Friday it will sell five-year and 10-year Treasury bonds worth Sh25 billion in February. The bank said in a statement it will receive bids for the two bonds between February 12 and 23, and auction them on February 24 […]
Citi says Kenyan lenders ideal takeover targets by PE Atlas Mara
Kenyan banks are ideal takeover targets as they match the financial measures being sought by London Stock Exchange-listed private equity fund Atlas Mara in its African acquisitions, investment bankers at Citi say. According to Citi, the Kenyan lenders have the ideal return on assets (ROA), cost of capital and price to earnings (P/E) ratios at a time Atlas […]
Total Kenya gets reprieve in Sh150m Eastleigh land case
Oil marketer Total Kenya has won a reprieve after the court stopped a Sh150 million demand by Muvir Holdings, a company which won a legal battle over a parcel of land in Nairobi’s Eastleigh area on which a petrol station had been constructed. The controversial land had previously been leased to Chevron Kenya (formerly Caltex Oil Kenya), which had […]
KCB deal offers mortgage buyers 35pc price cuts
KCB Group mortgage holders will get discounts of up to 35 per cent when purchasing paint, cable and water heating systems after the institution entered into partnership with three manufacturing firms. The bank has partnered with listed cable maker East African Cables, Crown Paints and Chloride Exide in a bid to drive up the uptake of housing loans […]
Controller of Budget raises red flag over high county wage bill
Controller of Budget Agnes Odhiambo has raised the red flag over a fast-rising county wage bill and called for strategies to curb the growth. In the three months to September 2015, units spent Sh25bn leaving little for development […]
Tullow says Kenya oil commercially viable at 25 dollars a barrel
Tullow said studies indicate that the Kenyan oil had relatively low cost of development and production amounting to $25 per barrel. This means that Kenyan oil reserves, estimated at about one billion barrels, are commercially viable at the current international price of $30 a barrel […]
WB ranks Kenya last in agricultural markets survey
Kenya has been ranked last in sub-Saharan Africa (SSA) in regulation of agricultural markets in a survey by the World Bank (WB). High taxes, middlemen and brokers lower the country’s competitiveness in region. Globally, Kenya ranked only ahead of Myanmar and Sri Lanka in the survey of 40 countries. A requirement that agricultural exporters pay annual licence fees pushed up the prices of Kenyan products in the global market hurting the country’s competitiveness […]
Thika firm gets Sh110m ICDC funding to expand charcoal briquettes factory
A Thika-based renewable energy company will double its production of charcoal briquettes extracted from pineapple waste by mid this year after securing Sh110 million from a government investment agency […]
Uber street demo flops as taxi lobby opts for dialogue
The planned demonstration by United Kenya Taxi Association failed to take place Thursday, as members of the lobby group said they would instead seek audience with the Transport Secretary James Macharia […]
Terror threat, pending elections big risks for Kenyan businesses
Terror and next year’s General Election are some of the biggest risks for Kenyan businesses this year, says a new report by global consulting firm Control Risks. The consultancy, which has offices in Nairobi among other parts of the world, says businesses operating in Kenya also face corruption and an uncertain judiciary […]