KenolKobil eyes higher revenue with Sh1.5bn Nairobi office block KenolKobil is set to build a Sh1.5 billion office block in Nairobi’s central business district to serve as its new headquarters besides generating rental income. The 22-storey building will be located on a one-acre parcel of land…

CA moves to hire market dominance consultant The Communications Authority of Kenya (CA) has begun the process of hiring an international firm that will examine Kenya’s telecommunication and broadcasting sectors for market dominance and anti-competitive behaviour. The CA says in Expression of Interest tender documents seen…

CAK warns Safaricom on M-Pesa fees The Competition Authority of Kenya (CAK) has ordered telecoms operator Safaricom to make public its Lipa na M-Pesa charges for businesses that levy a commission on the value of payments made through the system. Francis Wang’ombe, the CAK director-general,…

KRA stopped from closing Keroche as excise tax licence renewal dispute rages Keroche Breweries has obtained court orders temporarily stopping the Kenya Revenue Authority (KRA) from shutting down its business following its refusal to renew it excise tax licence for the current financial year.The taxman had…

Exchange rate slide pushes shilling past 95 units mark The shilling on Tuesday crossed the 95 units to the US dollar level, continuing a losing streak with forex traders predicting a further drop to 98 units to the dollar by end of year. A weaker currency and its effect…

Equity to refund Dyer& Blair over Sh20m paid out to fraudster Equity Bank has lost a protracted court battle with Dyer and Blair Investment Bank after the court directed it to refund over Sh20 million that was fraudulently transferred from one of its client’s account […] Banks struggle to meet…