Inflation eases to 6.87pc on rising food supply

The Kenya National Bureau of Statistics (KNBS) data shows that inflation fell from an eight-month high of 7.08 per cent last month, helped by increased supply of food items due to the onset of heavy rains. May’s Inflation reduced to 6.87 per cent, bucking a three-month rising trend due to falling food prices [...]

Regulator backs plan to privatize buildings inspection

The National Construction Authority (NCA) has endorsed Nairobi County’s plans to privatize the inspection of buildings. NCA said the move would save the county money and allow it to cover more areas to stem the collapse of buildings. Outsourcing is practiced globally and will greatly benefit Nairobi since there are many architects out there and it will cost less than when they are employed directly by the county [...]

Kenya Airways gets Sh4.2b Treasury bailout

National carrier, Kenya Airways, has gotten a critical lifeline after the Government gave it a Sh4.2 billion loan to help run its operations. The airline has been having difficulties paying its staff and meeting the day-to-day costs of running its operations after a slump in tourist numbers hit its bottom-line. Its financial position had been worsened by the fact that capital expenditure to pay for new planes coincided with its current cash crunch position [...]

KCB to invest Sh28b in property development

Kenya Commercial Bank (KCB) will on Saturday launch this year's edition of its property tours to showcase real estate progress in the city to prospective clients. The launch comes after the lender sought a Sh28.2 billion loan from Development Finance Institutions, in what will see its long-term loan book more than double to fund key developers in the construction and other industries. So far its mortgage book is over Sh45 Billion, which is over 31 per cent of the market share [...]