INTERVIEW : Safaricom CEO Peter Ndegwa ( pictured ) argued Covid-19 (coronavirus) had galvanised the operator’s efforts to transform into a technology company, though acknowledged it was still in the early phases and continued to face barriers around access and affordability. He explained Safaricom’s first priority when lockdowns were imposed in 2020 was to maintain […]
Category: Nairobi Stock Exchange
Kenya Airways saved $45 million after it changed aircraft lease terms
Kenya Airways saved $45 million after it changed a ircraft lease terms, opting for hourly rates in place of fixed costs. Kenya Airways Chief Executive Allan Kilavuka said the airline reached a deal with lessors in 2021 to only pay when they fly leased aircraft. Paying for idle planes The deal saved the airline millions […]
Agency faulted over delay to take over Weston Hotel land
Auditor General Nancy Gathungu during a session in Parliament on December 7. Auditor General Nancy Gathungu has questioned delays by the Kenya Civil Aviation Authority to recover the Weston Hotel land. She said the delay is happening despite a recommendation by the National Assembly. In an audit report tabled in Parliament, the auditor has called […]
GlobalX to buy 200 Eve air taxis, plans South Florida operations
Embraer’s Eve Urban Air Mobility spin-off has clinched a letter of intent with Miami-based Global Crossing Airlines Group to acquire up to 200 electric vertical take-off and landing (eVTOL) aircraft, with deliveries scheduled for as early as 2026. Eve disclosed the deal on 16 March, saying it now has 1,785 eVTOLs in its backlog. “We […]
Kenya Airways reinstates pay cuts as bailout is delayed
The management of Kenya’s national carrier, Kenya Airways , has commenced a series of pay cuts in order to stay afloat. The move has become imperative as the company has not received any of the bailout funds promised to it a full month after the country’s supplementary budget was announced. Kenya Airways reinstates pay cuts […]
How will Uganda finance its oil projects
Securing financing for oil projects might prove to be relatively hard because a number of financiers have been cutting back on funding fossil energy production due to climate concerns. Photo | File The extraction of oil has come at a tough time. The world is making a radical shift from fossil fuel as an energy […]
Goods and services to cost more on high fuel prices
The Malaba One Stop Border Post in this picture taken on January 22, 2022. The Sh5 increase in Super petrol and diesel prices announced on Monday is expected to further push up the cost of living in Kenya. Already, the Kenya Transporters Association (KTA) has asked its members to review by a minimum of five […]
Cement Prices in Kenya
Workers at a construction site. PHOTO | FILE Cement prices in Kenya have hit new highs this month as local manufacturers seek to remain profitable in the wake of a price hike of key raw materials and input costs. A 50kg bag of cement in Nairobi is currently selling at an average of Sh630 from […]
Constructors shelve plans on rising price of building materials
Ongoing construction of the Pangani Affordable Housing Programme on January 21, 20222 The rising cost of building materials in Kenya has pushed construction costs by an average of Sh3,000 per square metre, forcing constructors to hold ongoing projects. The rising cost has been attributed to a disruption in the global market on the ongoing Russia/Ukraine […]
Carbacid earnings rise 71pc on higher sales
Carbacid Investments #ticker:CARB posted a 71.4 percent rise in net profit in the half-year ended January on increased sales of carbon dioxide in the regional market. The Nairobi Securities Exchange-listed firm made a net income of Sh360.7 million in the period compared to Sh210.4 million the previous year. Sales increased 56 percent to Sh701.6 million […]