Safaricom’s digital TV decoder sales double after price cut
The sales of Safaricom’s Internet-enabled digital TV decoders has doubled after it slashed its pricing by 50 per cent in November. In November Safaricom cut the decoder prices to Sh4,999 from the previous Sh10,000 in a re-launch that was meant to reverse the low uptake of the devices dubbed ‘The Big Box’ […]
Industrial stocks register slower fall as NSE opens year on a downward trend
Industrial stocks at the Nairobi Securities Exchange (NSE) outperformed the bearish market in January to record slower price falls. Five of the nine actively traded manufacturing stocks have chalked up price gains since the beginning of the year. The firms are benefiting from a more stable interest rate regime and falling inflation, which has lowered their input costs at a time they are receiving more orders for products […]
NHC plans issuing the delayed Sh5bn bond by end of June
The National Housing Corporation (NHC) plans to issue the Sh5 billion bond whose launch was put off last year by the end of June. The State-funded housing agency has already picked transaction advisors for the bond issue, who include the International Finance Corporation (IFC). NHC also plans to raise more funds by packaging some of its properties under an Income-Real Estate Investment Trust (I-Reits) and similar securities NHC also plans to raise more funds by packaging some of its properties under an Income-Real Estate Investment Trust (I-Reits) and similar securities […]
Low quality beans cut coffee price at Nairobi auction by nine per cent
The price of coffee at the Nairobi auction dropped nine per cent as low quality beans reversed last week’s fortunes when the value rose 14 per cent. In the Tuesday auction, a 50 kilogramme bag of coffee was sold at Sh22,644 compared to the Sh24,888 average realised last week. Nairobi Coffee Exchange (NEC) chief executive officer Daniel Mbithi said that despite the drop in price, demand for good quality coffee was high with some lots selling […]
Treasury audits IFMIS after NYS scam raises integrity claims
The State is auditing the Integrated Financial Management Information System (IFMIS) whose integrity was put to question after the multi-million shilling National Youth Service fraud. Finance PS Kamau Thugge said the Auditor-General is almost done with the assessment of the system, scheduled to be fully rolled out in counties […]
Thugge defends tax treaty shielding Mauritian firms
Treasury permanent secretary Kamau Thugge has held in court that a treaty shielding Mauritian firms from normal taxation rates was signed to attract investors to Kenya. Mr Thugge says, in response to a suit filed by a lobby, that the tax treaty signed in 2012 will lower levies for Mauritian firms doing business in Kenya but only for five years […]
Regular taxis want Uber ban within 7 days
A lobby for regular street cabs, United Kenya Taxi Organisation, has given the government a seven-day ultimatum to ban online taxi hailing company, Uber, from operating in the country. United Kenya Taxi Organisation says it will stop taxi operations in Nairobi after the period lapses and hold street demonstrations until their demands are met […]