Senator Otieno Kajwang' passes on

Homabay Senator Otieno Kajwang' died Tuesday night after suffering a cardiac arrest. Orange Democratic Movement (ODM) spokesperson Philip Etale confirmed the death shortly after midnight. [...]

RVR sues insurance company, seeks KES 68 million compensation

Rift Valley Railways (RVR) has sued Cannon Assurance seeking compensation of KES 68 million for breach of contract. According to suit papers RVR had taken an insurance cover with Cannon for occurrences relating to employees exit either through death or termination. However the insurance company was not able to surrender the policy in full when requested by RVR which in turn led to a loss on the transporter [...]

Treasury wants external debt ceiling raised to KES 2.5 trillion

The Treasury is seeking Parliament’s approval to increase the external borrowing ceiling by KES 1 trillion to KES 2.2 trillion to finance mega infrastructure programmes. The money, to be raised from external sources, will finance the KES 327 billion standard gauge railway, 10,000 kilometre road annuity programme, the 5000 plus megawatt electricity project [...]

KenGen starts final tests on Olkaria 280MW project

Kenya Electricity Generating Company (KenGen) has connected the Olkaria I unit 5 to the national grid, paving the way for the completion of the 280MW geothermal power project. The unit, still being tested, is now feeding 52.5MW to the national grid and marks the final phase in what is seen as a major step toward significantly lowering the cost of electricity [...]

Citigroup tips KQ on how to pull out of financial pit

Kenya Airways needs to inject addition cash or restructure its capital in order to pull out of the current financial pit, Citigroup has advised. Some of the restructuring options given to the airline by the global investment bank include seeking financial aid from the government, conducting a second rights issue, disposing of assets and reconsidering buying new planes. [...]