Keroche among big firms missing from KRA list Keroche Breweries and Mastermind Tobacco are among big companies that are yet to secure an excise tax license, and could have their products pulled from the market. The two are among those missing from an updated list…

South Africa, Nigeria, Kenya bourses in funds cross-list talks The South Africa, Kenya and Nigeria stock exchanges together with market participants have opened discussions with a view to cross-list exchange traded funds (ETF) across the countries. The move is expected to boost liquidity of the…

Electricity users to pay more as levies hit record highs Consumers face a double-barrelled increments in their August power bills as after the energy regulator moved to significantly raise fuel and currency fluctuation levies. The Energy Regulatory Commission (ERC) has adjusted fuel cost on electricity consumed…

NMG maintains dividend payout after Sh1.4bn profit The Nation Media Group has announced that it will maintain an interim dividend payout of Sh2.50 per share for the half-year to June, same as the amount paid in a similar period last year. NMG’s half-year profit before tax dropped to Sh1.43 billion…

Muthoka firm,Africa Flight Services, wins China Southern’s cargo business China Southern Airlines has hired a firm associated with billionaire businessman Peter Muthoka to handle its cargo business, making his company one of the biggest beneficiaries of the entry of the giant Asian carrier into Kenya. The airline is mainly targeting the…

Shilling feels the pressure as trade deficit rises 59pc KNBS reported the current account deficit, stood at Sh101.5 billion, up from Sh63.7 billion recorded in the same quarter last year. The gap between Kenya’s imports and exports widened a massive 59 per cent or Sh37.7 billion…

Olympia in yet another subsidiary shut down Investment company Olympia Capital has announced plans to close two of its loss-making subsidiaries, indicating yet another financial blow to shareholders of the NSE-listed firm. Olympia Capital is shutting down Dunlop Industries, a Nairobi-based manufacturer of vinyl floor tiles,…

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 CBK governor Patrick Njoroge assumes office President Uhuru Kenyatta has formally appointed Patrick Njoroge to the post of Central Bank of Kenya governor, a week after he was endorsed by Parliament. CBK governor Patrick Njoroge, deputy Sheila M’Mbijjewe and Board chairman Jairus Mohammed Nyaoga term in office effective June…

CIC General rating up after Sh800m capital injection CIC General Insurance’s outlook has been upgraded to ‘stable’ from a ‘negative’ rating following a capital injection last year.The capital injection nearly doubled the insurer’s previous capital base of Sh900 million to Sh1.7 billion. South African Global Credit…