East African Breweries Limited’s (EABL) British parent firm Diageo is warning of up to Sh41 billion ($410m) or 2.7 percent hit in net sales for the year to June 2020 on disruption of business by the coronavirus outbreak. Diageo, which has a presence in six continents, says the expected dip is founded on the evolving […]
Category: East Africa News
VW opens Rwanda’s first car-assembly plant
VW is linking production to a ride-hailing and car-sharing service, stocked with its own vehicles.
Kenya: Employers fight tax to earmarked for new National Housing Fund
NMG Treasury secretary Henry Rotich plans to enforce the proposed contributions from January 1 through the Finance Bill 2018, which is before the National Assembly for approval. The establishment of a housing fund is provided for under the Housing Act. The Ministry of Housing said in April it was working on regulations to operationalise the […]
New hirings signal business rebound in Kenya
Private firms hired more Kenyans last month sustaining a seven-month job growth trend and signalling a strong rebound in the private sector from the slowdown of last year. The higher enrollment was witnessed as business confidence for the country’s private sector remained high on the back of improved operating conditions, the latest Stanbic Bank Kenya […]
Lamu Port build running 6 months late
Kenya’s Lamu port that will be a key gateway for landlocked South Sudan and Ethiopia is six months off schedule with first berth expected at end of year
Kenya and US firm Bechtel to hold talks on $3bn Nairobi – Mombasa expressway
Kenya and US firm Bechtel to hold talks on $3bn Nairobi – Mombasa expressway starting with financing model: loan vs toll road
African budget airline Fastjet saved from imminent closure with $10m injection
Troubled African budget airline Fastjet has been saved from imminent collapse with a Sh22 billion ($10 million) cash injection from its shareholders. However the airline, which already halted operations in Kenya, said the cash injection will only give it enough funds to keep going for the rest of this year. Half the funds will be […]
Kadaga meets ambassadors to reassue them after age limit debacle
Speaker of Uganda’s Parliament Rebecca Kadaga has asked ambassadors not to make a big issue out of the age limit saga, saying they too have parliaments where legislators misbehave and get punishments. In a meeting on legislature, governance and human rights and security, a delegation of 16 ambassadors led by Swedish Ambassador to Uganda Per […]
Tanzania Stock Exchange opens week on low note
The Dar es Salaam Stock Exchange (DSE) opened the week on a low note, with the market capitalisation down by Sh290 billion to Sh21.9 trillion on Monday from Sh22.19 trillion on Friday. The decrease in the market capitalisation was a result of a fall in share prices among cross-listed companies included Acacia (ACA), Kenya Airways […]
600 trucks forced out of road by new Kenyan railway
Standard Gauge Railway cargo train has forced 600 trucks out fo the road since its launch in January, data from the Ministry of transport reveals. The data released on Monday by Transport CS James Macharia further states that over 30,000 containers have been moved by the SGR in the six months it has been in […]
