Electricity leakages and theft cost Kenya Power Sh17bn in sales Kenya Power is losing Sh17.5 billion annually through electricity thefts and leakages from an ageing transmission network, translating to lost earnings to shareholders of the listed utility. Kenya Power managing director Ben Chumo on Thursday said the firm had channeled…

Bamburi Cement posts Sh3bn in half-year profit Bamburi Cement posted an 85.9 per cent net profit jump in the half year ended June, helped by sales growth and aggressive cost-cutting measures. The firm’s net profit in the period stood at Sh3 billion compared to Sh1.6…

Mumias Sugar hires 8 managers to drive turnaround Mumias SugarCompany has hired eight managers to replace those sacked last year in a corruption purge. Mumias Sugar Company is mulling extending the term of its CEO Coutts Otolo even as it hired eight managers to replace those…

New Kenyan law to ease revenue payments set for next year Kenyans will have to wait for at least a year to have a new Income Tax Act. The new Act is intended to, among other things, simplify payments to the revenue authority, remove exemptions and broaden the tax…