London firm seeks Nairobi listing as it eyes oil boom

Guernsey-based oil sector services firm Africa Oilfield Logistics plans an NSE listing with an eye on the promising Kenya upstream oil sector. The operator, which is focused on logistics support for upstream oil and gas exploration in sub-Saharan Africa, is already listed on the London Stock Exchange Alternative Investment Market Segment (Aims). However, Oilfield is yet to disclose whether it will list by introduction or seek to raise capital locally. [...]

Uchumi Rights Issue opens in November

In a statement CMA said the authority was satisfied that the disclosures submitted by the company complied with regulatory requirements for public offers and listings. "Submission by Uchumi is sufficient and contained information that will enable investors make an informed decision on the Rights Issue," the statement reads in part. The issue opens on November 10 and closes on November 28, 2014. [...]

Staff back to work as Tullow resolves strike

"Negotiations between the county and central government representatives, workers' representatives, Tullow and its supplier regarding the limited industrial action in northern Kenya have concluded successfully," Tullow said. "The small number of workers affected are now returning to work," it said in a brief statement sent to Reuters late on Saturday, without giving further details. [...]

Australian company seeks repeal of new tariff on mineral exports

Base Resources Limited, the Australian company developing a mineral-sands project in Kenya, said it is working with the authorities in the country to have an export levy imposed by a local government rescinded. The Kwale County told the West Perth-based firm in June it plans to apply a Sh5,000 ($56) per metric tonne tariff on exports of rutile and ilmenite by Base’s Kwale Mineral Sands project. [...]

Kiambu County Revenue Bill proposes sale of rate defaulters’ property

Property and land owners in Kiambu who default on rate payments for three consecutive years will see them auctioned off by the county if a new Bill is passed. The timeline set by the Kiambu Revenue Administration Bill 2014 is meant to encourage compliance as the county races to raise its revenue collection from Sh1.25 billion in the year to June. [...]