President Uhuru Kenyatta to open investment forum

Kenya is set to host its first two-day investment conference in Nairobi this week as the State intensifies its efforts to woo foreign investors. About 2,000 potential investors from over 100 countries are expected to attend the event at the Kenyatta International Convention Centre on Wednesday and Thursday. [...]

Battered by falling prices, Kenya's tea farmers threaten to uproot

Ideal weather and bigger harvests, instead of producing bumper earnings, have led to a glut of Kenya's speciality black tea. Samuel Busienei, a 72-year-old tea farmer, says he earns 40% less for each kilogramme of tea sold than he did three years ago and is considering uprooting his crop. [...]

MPs, activists allege parliamentary report on sugar crisis doctored

Controversy has arisen over the yet to be tabled parliamentary report on the crisis facing the sugar industry. A number of MPs and NGOs have raised concerns over the report's final details, which they fear might have been altered to allow the culprits to get off scot-free. The House Agriculture committee's interim report titled, "The Crisis Facing the Sugar Industry in Kenya" has [...]

Kenya falls short on first quarter revenue

the Kenya Revenue Authority (KRA) has missed its tax revenue collection in the first quarter of its fiscal year by KES 17 billion. KES 241.2 billion was collected in the first quarter of the 2014/15 financial year representing a 6% drop. The tax collector’s dismal performance is as a result of a meager show from the custom import duty and Value Added Tax. [...]

Ciano increases his Uchumi stake by 200,000 shares

Uchumi CEO Jonathan Ciano has increased his shareholding in the NSE-listed retailer by nearly 200,000 units, signalling a vote of confidence in the supermarket chain whose performance has wavered in recent months [...]

Citi Group says Kenyan bank stocks overvalued

In an analysis of KCB, Equity and Cooperative banks – the three biggest indigenous Kenyan lenders –Citi Group’s global investment banking arm says that while the banks have had a good multi-year run in share price, they remain overvalued operating at an optimal return on equity that offers little upside in stock price. [...]