KQ says it’s yet to receive pilots’ go-slow notice as 7-day quit ultimatum looms

The pilots on January 20 gave KQ’s chief executive and directors a week to quit failure to which they would commence unspecified action. KQ’s chief executive officer Mbuvi Ngunze on Monday said that the national carrier is yet to receive any “threat given to withdraw goodwill” from its pilots, adding that they are engaging them [...]

ARM says Sh12.7bn strategic investor will not take over firm

ARM Cement will cede shares to a strategic investor in seven years in exchange for a $125 million (Sh12.7 billion) cash injection that it is currently negotiating for. While ARM has not yet revealed the identity of the institutional investor it is negotiating with, the prospective investor is reportedly India’s largest cement producer, UltraTech [...]

KCB block trades help to treble NSE turnover

Block trades of KCB by local investors helped treble turnover at the Nairobi Securities Exchange (NSE) to Sh1.5 billion compared to Friday’s Sh560 million. KCB accounted for 62.7 per cent of the day’s turnover at Sh938 million after moving 24.36 million shares at an unchanged Sh38.50 a share.  Equity Holdings followed at Sh162 million worth of shares traded while Safaricom moved shares worth Sh72.6 million [...]

Safaricom and Telkom seek out-of-court deal in Sh639m case

Mobile phone service providers Safaricom and Telkom Kenya have opted for out-of-court talks to iron out a dispute over a Sh639 million claim accruing from various transactions entered into between 2004 and 2011 [...]

Airtel eyes low end market with Sh20 daily tariff

Airtel has introduced a Sh20 daily tariff for its voice, data and SMS services across all networks as it seeks to reach more subscribers in the low-income market segment [...]

Roto tanks maker Flame Tree to acquire cosmetics firm Suzie.

Listed consumer goods manufacturer Flame Tree Group is set to acquire local cosmetics firm Suzie Beauty.  The group has signed an acquisition agreement for an undisclosed amount and the deal now awaits approval by the Competition Authority of Kenya. Flame Tree manufactures Zoe lotion and Roto tanks and has been on an acquisition spree since listing. The listed company also bought the Monalisa skincare brand [...]

Fresh exports get boost as Kephis to monitor EU sales

Kenya’s fresh produce will access the lucrative European Union (EU) market with more ease following the re-accreditation of the national laboratory for testing conformity on pesticide residue levels [...]

Apartment rents in Nairobi decline for first time in 15 years

The average rent for an apartment in Nairobi fell slightly in the last quarter of 2015 for the first time since the Hass Property Index was introduced in 2000, the latest real-estate survey shows [...]

Independents selling petrol below official prices

Independent oil marketers are increasingly discounting fuel below the officially recommended minimum price to attract customers as competition in the sector intensifies. Many independent oil marketers—who have for long fought for space with the multinational marketers— are offering discounts [...]

Court orders Blue Shield owners to inject Sh600m or risk closure

Owners of collapsed insurance company Blue Shield have three months to inject Sh600 million capital into the business or risk closure. Blue Shield was put under statutory management by the Insurance Regulatory Authority (IRA) after falling into financial difficulties [...]

Travelport to open Nairobi call centre hub for Africa operations

Online commerce travel platform, Travelport, is set to launch a call centre in Nairobi, signalling its plan to have Kenya serve as a regional hub for its operations in Africa [...]