Kenya Airways Boeing 737-800 © Tis Meyer (PlanePics.org) The International Monetary Fund (IMF) has asked Kenya’s National Treasury to limit its support to struggling state-owned enterprises (SOEs) such as Kenya Airways , as part of new conditions for approving USD2.34 billion worth of Extended Credit Facility (ECF) and Extended Fund Facility (EFF) arrangements for the […]
Treasury Cabinet Secretary Ukur Yatani has moved to arm the taxman with a new weapon to help it get difficult taxpayers to pay their fair share of taxes. In the Finance Bill 2021, Mr Yatani wants to empower the Kenya Revenue Authority (KRA) to seek help from other authorities for tax collection. One of the […]
The National Treasury will get Sh1.3 billion in power producer Kenya Electricity Generating Company dividends in a year the government has struggled to collect taxes as a result of the coronavirus scourge and related economic downturn. At the firm’s annual general meeting on Thursday last week, shareholders voted to increase the dividend per share to […]
The government says it will ensure that Kenya Power #ticker:KPLC pays its debt to KenGen #ticker:KEGN and other power producers, responding to concerns that the electricity distributor’s default could hurt the entire supply chain if it is not resolved in the near term. KenGen, whose sole customer is Kenya Power, had not been paid Sh23.9 […]
The Kenya Pipeline depot in Embakasi, Nairobi. PHOTO | FILE Recently, the government unveiled a licensing policy that will require telecoms firms to have local ownership of at least 30 percent within the next three years. Despite local ownership requirement regulations sounding progressive, many times they are just ambiguous. Let’s take the case of Airtel […]
A Kenya Power technician inspects a line. FILE PHOTO | NMG Loss-making Kenya Power got a huge reprieve after the Ministry of Energy announced it will restrict Kenya Electricity Generating Company (KenGen) plans to sell power directly to consumers. State-owned Kenya Power has a monopoly on power sales, but the Energy Act 2019 provides for […]
The Nairobi Securities Exchange (NSE) has stepped up its push for the sale of additional government stake in Safaricom and cash-rich parastatals like Kenya Ports Authority (KPA) to cut the State appetite for expensive loans in the short term. The NSE chief executive Geoffrey Odundo told Parliament Tuesday that the State has the potential to […]
The Nairobi Securities Exchange (NSE) has stepped up its push for the sale of additional government stake in Safaricom and cash-rich parastatals like Kenya Ports Authority (KPA) to cut the State appetite for expensive loans in the short term. The NSE chief executive Geoffrey Odundo told Parliament Tuesday that the State has the potential to […]
Investors at the Nairobi Securities Exchange (NSE) will now trade online on derivative contracts of blue-chip firms like Safaricom #ticker:SCOM, KCB Group #ticker:KCB, Equity Bank #ticker:EQTY and East African Breweries #ticker:EABL. This comes after NSE granted online forex trader EGM Securities the operating licence on Tuesday to trade derivative contracts at the bourse. EGM Securities, […]
Treasury Cabinet Secretary Ukur Yatani. FILE PHOTO | NMG The State has ruled out selling its stake in profit-making parastatals despite pressure to do so and unlock cash and growing strain of external borrowing. Stanley Kamau, Head of Public Investments at the National Treasury said the firms remained strategic to government plans and national security […]
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