Closing Bell – 7 August 2012
INDICES The NSE 20 Share Index today dropped 0.39 percent to 3,815.44 points from 3,830.24 points yesterday while the All Share Index gained 0.23 percent to 83.46 points from 83.27 points yesterday. HIGHEST VOLUMES Safaricom was the most traded…
Cargo Business Off the Road, onto the Track
Road freight and cargo hauliers are set for a big challenge from their rail counterpart. This follows RVR‘s launch of the KES 18 billion upgrade project of the Kenya-Uganda railway line dubbed Lunatic Express on Tuesday August 7th 2012. The upgrade is expected to bring onboard…
Zuku Doubles its Bandwidth Speeds
Zuku has introduced new packages, dubbed Basic/R1, Premium/R8 and Premium/R20. Basic/R1 offers: Basic TV – 70 Channels 39 Audio channels Residential 1 Mbps Internet Phone All of the above for KES 2,999 Premium/R8 offers: Basic TV – 87 39 audio channels…
CMA Report Reveals Allegations on CMC Directors
A report released by the Capital Markets Authority (CMA) yesterday has revealed the extent of the allegations by the regulator against former directors of CMC Holdings Ltd, the publicly listed motor dealer. In the report prepared by the Board of the CMA,…
Youth Fund to be turned into Microfinance
The government is hatching a plan to turn the Youth Enterprise Development Fund into a Microfinance Institution. Currently, the fund provides loans to existing micro-finance institutions (MFIs), registered non-governmental organizations (NGOs) involved in micro financing, and savings and credit co-operative organizations (SACCOs) for on-lending…
Beware of Conmen, KRA Tells Property Owners and Developers
The Kenyan Revenue Authority (KRA) has advised the public to be on the lookout for individuals and groups purporting to assist them to escape taxation of rental income. The groups, KRA says in a statement, are asking taxpayers to pay money for the service, and in the process…
80,000 Jobs Delayed by Lack of Foreign Investors
80,000 potential jobs have been put on hold pending a move by the government to secure investors for the Konza city project. The project, which is described as Africa’s Silicon Savannah, should have kicked off in April but experienced a few setbacks. Dr Bitange Ndemo, Permanent…
Nokia 808 PureView Now Available in Kenya
Through a press release by webaraza, Nokia has confirmed that the Nokia 808 PureView is now available through selected retailers in Kenya. The Nokia 808 PureView is the first smartphone to feature Nokia’s PureView technology. PureView represents Nokia’s highest level smartphone imaging experience, btinging together high-performance…
Orange Mobile Ramadhan Special
It may be a little late, but Orange mobile is running a promotion for the Ramadhan period. Make international calls to USA, China, Canada, India and UK Fixed line for KES 2.50 per minute. International calls to the Middle East and Somalia Link are bill at…
Barclays Half-Year Earnings Grow 18 Percent
Barclays Bank Kenya has today announced an 18 percent increase in pre-tax profit to 6.3 billion shillings for the six months to June this year up from 5.3 billion shillings last year according to an official press release. Total income grew 10 percent in…
APA-Jua Kali Paperless Partnership
Jua Kali Workers willing to to register for Heshima Mpango Poa funeral cover will be saved the lengthy paperwork involved. Registration will be available on all mobile money platforms. Agents will have mobile phones which are loaded with an application called MobSure and will…
Areas to Experience Electricity Interruption Today
Nairobi Region Buruburu Phase 1, Kiambiu Time: 9:00am to 4:00pm Kiambiu and adjacent customers South B Time: 9:00am to 5:00pm KIMC, Mater Hospital, Marakani Est, Kenya Polytechnic Hostels, Caltex, NHIF houses, South B Mosque, Bondo Rd,…
Kenyans Embrace Cheaper Pension Plan
Many more small business owners in Kenya’s informal sector may have legitimate pension plans by the end of this year. According to the Retirements Benefits Authority (RBA) more than 32,000 Kenyans have already registered for the Mbao Pension Scheme. RBA CEO, Edward Odundo reports that the…
CBK proposes to overhaul MFI Regulations
The Central Bank of Kenya has released a proposal for the comprehensive review and overhaul of the microfinance and Deposit Taking Microfinance Institutions’ regulatory and supervisory framework. CBK says the proposals have been formed in consultation with practitioners and players over the three year period of…
Commuters to Gain from KES 605 Billion Road Upgrade
Kenyan commuters will benefit from a KES 605 billion government investment that will be used to improve traffic within the country. The Ministry of Roads said that the investment is part of a 15 year plan that will be used to develop the country’s infrastructure. According…
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