Cash-strapped parastatals seek loan write-offs as defaults hit Sh74b

Cash-strapped parastatals seek loan write-offs as defaults hit Sh74b

Kenya Power workers fix a 3 phase distribution transformer of 250KVA at Ndimaini Village in Karatina, Nyeri on December 28, 2020. Parastatals have failed to service interest payments on Sh921.93 billion State loans, with the majority of them seeking write-offs as losses mount. State-owned enterprises (SOEs) including Kenya Power, Kenya Railways and East African Portland […]

Govt Orders Destruction of Ksh1.4 Billion Investment

Govt Orders Destruction of Ksh1.4 Billion Investment

Operations taking place at Naivasha Inland Container Depot A consortium of investors is counting billions of shillings in loss after Kenyan authorities resolved to destroy a Ksh1.4 Billion haul that they had imported from Zimbabwe. Sirocco Investments (K) Ltd imported 20,000 tonnes of brown sugar from Zimbabwe. The company is among 200 companies licenced to […]

Govt Orders Destruction of Ksh1.4 Billion Investment

Govt Orders Destruction of Ksh1.4 Billion Investment

Operations taking place at Naivasha Inland Container Depot A consortium of investors is counting billions of shillings in loss after Kenyan authorities resolved to destroy a Ksh1.4 Billion haul that they had imported from Zimbabwe. Sirocco Investments (K) Ltd imported 20,000 tonnes of brown sugar from Zimbabwe. The company is among 200 companies licenced to […]