Safaricom backs down on unpopular change to tariff
Safaricom backs down on unpopular change to tariff Safaricom has changed its mind about taking away all the unused airtime, SMS credits and data held by Karibu Postpay tariff users after May 26 this year. Subscribers can keep their accumulated bundles but any new ones purchased from May 1 will…
Mumias slashes staff allowances, freezes pay increments
Mumias slashes staff allowances, freezes pay increments Troubled Mumias Sugar Company has halved senior staff allowances and frozen pay increments as it struggles to climb out of the deep pit of losses it fell into two years ago. Mumias managing director Coutts Otollo informed staff of the changes, part…
Total Kenya 2014 pre-tax profit rises 9.2 percent
Total Kenya 2014 pre-tax profit rises 9.2 percent Fuel marketer Total Kenya said on Wednesday its pre-tax profit rose 9.2 percent in 2014, helped by stronger sales and a stable macroeconomic environment in Kenya. The group, a unit of French oil major Total, said it expects Kenya’s macroeconomic conditions to…
Mumias seeks arbitration over Sh1bn Kenya Power bill
Mumias seeks arbitration over Sh1bn Kenya Power bill Troubled Mumias Sugar Company now wants the High Court to refer a Sh1.1 billion dispute with Kenya Power over an unpaid bill to arbitration. Kenya Power has sued the struggling miller for the unpaid Sh1.1 billion electricity bill and wants the court to freeze…
Kenyan coffee prices drop at auction
Kenyan coffee prices drop at auction The price of Kenyan coffee has dropped in recent sales, losing 22 per cent of its value in a month following improved harvests among major producers Brazil and Colombia. At the Nairobi Coffee Exchange (NCE), the price of 50 kilograms has dropped from a…
Sale of five State sugar companies delayed over farmers’ petition
Sale of five State sugar companies delayed over farmers’ petition The government plans to sell Nzoia, South Nyanza, Chemilil, Miwani and Muhoroni companies to strategic investors who will control 51 per cent of the sugar millers. Two members of Parliament, however, delayed passing of the motion, citing that the…
Thursday’s Morning Brief – Nov 13
Tullow moves to appease locals with car lease contracts British exploration firm Tullow Oil has stepped up efforts to ease tension between the company and Turkana residents with the award of KES 225 million car-lease contracts to 36 local companies. Protests by locals demanding more jobs and business opportunities at the…
5 Things You Should Know This Morning – Oct 13
London firm seeks Nairobi listing as it eyes oil boom Guernsey-based oil sector services firm Africa Oilfield Logistics plans an NSE listing with an eye on the promising Kenya upstream oil sector. The operator, which is focused on logistics support for upstream oil and gas exploration in sub-Saharan Africa, is…
Mining May be Kenya's Key for Mid-Level Economy Status
The other day, we woke up to news that Nairobi was ranked the second worst place to live in Globally. Sad. But again the recent discovery of commercial deposits of oil in Turkana County has created hopes that our republic could be in the verge of graduating into a middle level economy.
Tullow Finds More Oil in Kenya
Tullow Oil and Africa Oil Corporation have found oil in the second well in the Turkana desert. The Twiga-1 well is said to contain about 100 feet of oil. Tullow found Oil in Ngamia 1 well earlier in the year.
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