NBK net income more than doubles

The National Bank of Kenya has announced a more than double growth in net earnings for the nine months to September to Sh2.3 billion from Sh1 billion the same period last year. The group's total interest income of rose to Sh9.75 billion versus Sh7.63 billion a year ago. The bank also saw its net non performing loans rise 44 per cent to Sh5.5 billion compared to Sh3.8 billion last year [...]

Kenya Power to phase out inefficient household light bulbs

Kenya Power is seeking contractors to fit energy saving bulbs in Kenyan households as it moves to tame the peak demand for electricity. The AFD-funded programme is the second phase of the exercise which will involve procurement of three million bulbs for distribution to local households. In 2010, Kenya Power collected 1.25 million bulbs from its customers replacing them with energy efficient bulbs [...]

Importers warn over high cost of goods under new inspection rule

Businesses in import and export are worried by new import rules which they say might increase the cost of some commodities and hurt those dealing in small quantities. Kenya Bureau of Standards (Kebs) and the Kenya Revenue Authority said all imports must be accompanied by a certificate of conformity starting December 1, 2015. While some products have been exempted from the requirement in the past, all imports will now be required to be accompanied by the document. Kebs and KRA say the measure is useful in order to protect health of users [...]

Kenya to issue Sh30bn infrastructure bond in December

Kenya will issue a nine-year infrastructure bond for up to Sh30 billion ($294.12 million) in December to fund energy, water and road projects, the central bank said on Friday. The bond, which will be auctioned on December 9, will be free from payment of any income tax and it will come with a coupon of 11 per cent, the bank said. It will be on sale from Dec. 1 to Dec.8 [...]