Pilots seek government intervention to save carrier from collapse

Pilots in the country now want national carrier Kenya Airways saved from possible collapse. Through their association, the Kenya Airline Pilots Association (Kalpa), the pilots also accused the airline’s management of mistreating them. Association general-secretary Captain Ronald Karauri said Kenya Airways was “literally on its knees” due to poor management and called upon relevant authorities to intervene…[...]

Old Mutual snub returns to haunt UAP chief executive

A high-stakes boardroom drama is once again playing out in the financial services industry following last month’s multi-billion-shilling acquisition of UAP Holdings by Old Mutual and the subsequent appointment of Old Mutual boss Peter Mwangi as the chief executive of the merged group, edging out UAP’s Dominic Kiarie…[...]

April mobile cash transfer down Sh18bn

The average value of transactions per subscriber fell as a result of the higher number of customers and the lower value of total transactions. The month-on-month value of mobile money transactions declined by Sh18.1 billion, despite the rise in subscriber numbers in April, to stand at Sh213.7 billion even as year-on-year value rose…[...]

Safaricom on the spot as Market Dominance Bill heads to Parliament.

Kenya’s telecommunications sector could be headed for massive restructuring as Parliament next week receives a bill seeking to declare mobile network operator, Safaricom, a dominant player in the industry. Communication Authority of Kenya (CA) through the Ministry of Information and Communication is sponsoring the bill expected to address concerns raised by rival industry players who insist that Safaricom be declared a dominant player…[...]

Kenya sees 20 firms investing Sh8b after US trade pact extended.

Kenya expects 20 companies to start investing about Sh8 billion ($80 million) immediately in the African nation’s textiles industry after the renewal of a deal offering access to the US market, its industrialisation minister said. President Barack Obama signed the Africa Growth and Opportunity Act (Agoa) this week, renewing a deal allowing Sub-Saharan African countries to export thousands of products to the United States, without tariffs or quotas, for a further 10 years…[...]

Kenya's steel sector secures promise of tougher anti-dumping laws

The Government has expressed commitment to address challenges faced by local steel manufacturers to enable them reduce the cost of products. Industrialisation Cabinet Secretary Adan Mohamed said efforts being made to reform the business environment would help steel manufacturers increase production. He said the country is keen to protect local manufacturers by sealing loopholes that lead to an annual Sh36 billion trade deficit through imported steel…[...]