Telcos regulator board meets on Monday over Airtel licence renewal

The board of the Communications Authority of Kenya (CA) is set to meet on Monday to discuss the renewal of Airtel Kenya’s licence, which expired seven months ago. The Monday meeting comes on the backdrop of a stalemate between the CA and Airtel over fees payable for the renewal.[...]

Base sinks into Sh1.6bn loss on rising operating costs

Kwale-based miner Base Resources sunk deeper into losses in the financial year ended June despite a leap in sales. The mining firm reported an after-tax loss of Sh1.6 billion for its second year of exports, higher than the Sh1.25 billion loss posted last year following a spike in operating and financing costs…[...]

All firms listing on NSE to enjoy income tax break

Companies listing by introduction on the Nairobi Securities Exchange will start enjoying tax holidays following amendment to the Income Tax Act. The amendment allows a company introducing shares without raising cash to pay corporate tax at the rate of 25 per cent for a period of five years. Listing by introduction means the company only offers the public an opportunity to own part of it…[...]

Centum’s energy company seeks 70MW plant operator

An energy firm partly owned by Centum Investment is looking for a contractor to operate a 70-megawatt geothermal plant in Naivasha next year.
Akiira Geothermal chief executive Robert Bunyi on Thursday said the contracted firm will be in charge of plant servicing and maintenance to ensure optimal level performance…[...]

Kirubi hits target with buyout of 29.9pc Centum Investment stock

Billionaire investor Chris Kirubi has hit his target of raising his interest in Centum to 29.9 per cent after acquiring an additional 4.9 per cent stake in two years. Mr Kirubi’s equity in Centum stood at 24.99 per cent in September 2013 when he applied to the Capital Markets Authority (CMA) for an exemption from complying with the requirements to make a takeover…[...]

EABL finance director Tracey Barnes resigns

Beer maker East African Breweries Limited (EABL) has made two changes to its board, appointing a new group finance director to replace Tracey Barnes and hiring a former career banker as a director. EABL said Ms Barnes had resigned from her position to take up another role within EABL’s parent firm, Diageo, in an undisclosed country…[...]

KQ gets relief as Guinea, Sierra Leone skies reopen

Kenya has lifted the ban on visitors from Ebola-struck West African nations Sierra Leone and Guinea, opening a flight path that closed 13 months ago for struggling national carrier Kenya Airways (KQ). Kenya closed the door on visitors from the two countries and Liberia in August last year following an acute outbreak of an Ebola epidemic, cutting deep into revenues of the airline that operated 44 scheduled flights a week to 10 West African cities…[...]

Longhorn profit declines on poor regional sales

Longhorn Publishers has announced a profit dip for the year ended 30 June 2015, in what the management terms as poor performance in subsidiaries in Uganda and Tanzania. The publishing group recorded a 24.4 per cent decline in after tax earnings of Sh71.7 million against Sh94.9 million recorded over similar period last year…[...]