Airtel sets flat roaming tariff for16 African countries Airtel has introduced a flat rate tariff for its Kenya subscribers travelling to 16 countries in Africa in which it has presence, reducing the cost of making roaming calls by between 85 and 32.4 per cent. Airtel’s customers…

KRA sues Airtel for Sh531 million fifteen-year claim The Kenya Revenue Authority (KRA) is pursuing Airtel Kenya for Sh531 million taxes it claims the telco owes from its first two years of operation in Kenya. KRA says the amount arose from Airtel’s $55 million (Sh5.6 billion)…

Power blackout costs Nairobi bourse millions in stock trade Trading at the Nairobi Securities Exchange (NSE) was halted Tuesday for more than three hours after a power outage, resulting in low trade volumes. The number of shares traded fell to 3,249,900 compared with 13,723,900 in the…

Telkom targets Sh1bn from assets sale across country Telkom Kenya has stepped up the sale of its assets with a listing of 17 properties across the country that are estimated to be valued at Sh1 billion. The fire sale comes at a time when Telkom Kenya’s…

Russian firm sues KenGen in Sh14.4bn tender dispute Russian firm OJSC Power Machines has accused electricity generator KenGen of favouring a rival company competing for a Sh14.4 billion tender for the supply of geothermal power generation units to be used in the Ol Karia V…

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…

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…

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…

Safaricom puts on hold sale of digital decoders Safaricom has suspended the sale of its Internet-enabled digital TV decoders to allow for software upgrade barely three months after its launch. Chief executive Bob Collymore told the Business Daily the suspension was due to realisation that…

KRA gives manufacturers two months to comply with excise tax rules Kenya Revenue Authority (KRA) has given manufacturers and importers of excisable goods who have not acquired licenses two months to comply with the requirements. KRA says the manufacturers who have faced difficulties in getting county…