Diaspora remittances rise to Sh14bn in August on weak shilling Kenyans working in the diaspora sent home Sh14 billion in August as they sought to take advantage of the weak shilling. Diaspora remittances increased by 3.2 per cent to Sh14 billion compared to Sh12.9 billion sent…

Airtel’s Sh2.1bn licence renewal fee splits CA board Telecommunications firm Airtel’s quest to get its frequency licence renewed without paying the required Sh2.1 billion fee has split the Communication Authority Kenya (CA) board, adding a new dimension to the seven months battle to get Kenya’s second-largest operator…

EABL up for earnings boost from bottling unit disposal Beer maker East African Breweries Limited’s (EABL) earnings this year are set to get a major boost following conclusion of the sale of its glass bottle manufacturing subsidiary. The brewer Thursday announced that the sale of Central…

Mumias doubles full year loss to Sh6 billion on low revenues Mumias Sugar financial woes deepened after the miller doubled its loss before tax to Sh6.31 billion in the year ended June 2015 from Sh3.41 billion. The sugar miller’s full-year after tax loss increased from Sh2.7…

CBK steps into Safaricom, Equity duel The Central Bank of Kenya has waded into the tag of war between banks and mobile money transfer platforms with a proposal to harmonize transaction charges. Through the 2011 National Payment System Act, the regulator is setting up a payment…

Uchumi sub-tenants get order halting eviction Sub-tenants in Uchumi Supermarkets have secured a court order delaying their eviction by 14 days from the September 15 deadline given by the retailer. Eighteen speciality shop owners claimed they had not been given adequate notice when they pleaded with…

Airtel threatens exit over Safaricom ‘dominance’ Telecommunications firm Airtel could exit the Kenyan market if new regulations are not passed to curb Safaricom’s dominance, its chief executive Adil El Youssefi said on Tuesday. Mr Youssefi said “anti-competitive behaviour” by the market leader had condemned competitors to…

Equity picks a new fight with Safaricom over M-Pesa fees Equity Bank Group has written a protest letter to the Central Bank of Kenya (CBK) objecting to Safaricom’s intended increase of charges on bank-to-MPesa transfers, which once effected will raise fees charged on Equitel — its…

Kenya Airways defends air ticket pricing against rivals Kenya Airways has defended its higher air ticket prices relative to other airlines. KQ chief executive Mbuvi Ngunze on Thursday said the airline’s tickets are only priced higher during peak demand, when travellers book late and according to quality…

Investors demand higher interest for Treasury bills Investors are demanding higher interest rates for the six-month and one-year government Treasury bills as the market continues with its risk-averse approach to longer-dated fixed-income investment over uncertainties in the interest rate environment. Auction results from last week’s…