An earthmover parked at the Athi River Mining plant in Kaloleni, Kenya. PHOTO | FILE | NATION MEDIA GROUP Troubled cement maker Athi River Mining (ARM) is seeking to dispose of its Rwanda and South African subsidiaries, bringing closer to de-listing of the Nairobi Securities Exchange (NSE) listed company. Administrators of the cement processor last […]
Tullow Kenya Managing Director Martin Mbogo speaks on the firm’s future during an interview in Westlands, Nairobi, on February 20, 2020. PHOTO | FILE | NATION MEDIA GROUP An audit of the cost recovery bill presented by Tullow has revealed that at least Sh15 billion claimed does not qualify to be repaid by the Kenyan […]
Equity Bank CEO James Mwangi. PHOTO | FILE | NATION MEDIA GROUP Equity has restructured Sh92 billion loans, equivalent to about 25 per cent of its net loans at the end of last year, as the lender seeks to cushion customers who have been hit by the coronavirus crisis. The relief, which is being determined […]
A resident scares away desert locusts from a farm in Embu County, central Kenya, on January 25. 2020. PHOTO | GEORGE MUNENE | NATION MEDIA GROUP • Kenya will get the concessional 30-year loan from the World Bank alongside Djibouti, Ethiopia and Uganda, pushing the total loan to $129.5 million (Ksh138 billion). • Locust numbers […]
Consumers are yet to feel relief more than a month since President Uhuru Kenyatta directed that VAT on goods and services be reduced from 16 to 14 per cent. PHOTO | FILE | NATION MEDIA GROUP The prices of essential commodities such as maize and wheat flour, soap, tea leaves, milk, rice and cooking oil, […]
KCB Group CEO Joshua Oigara. FILE PHOTO | NATION MEDIA GROUP KCB Group chief executive officer Joshua Oigara earned Sh299.1 million in salary, bonus and allowances in 2019, a year when Kenya’s biggest bank by assets announced a record net profit. Mr Oigara’s compensation increased by 9.6 percent or the equivalent of Sh26.2 million from […]
A pump attendant fuels a vehicle at Total Kimathi Street in Nairobi on February 14, 2020. Industry players say local prices are expected to drop significantly by May or June. PHOTO | FILE | NATION MEDIA GROUP As the world oil industry goes through a price turmoil, Kenyans can look forward to reaping some benefits, […]
THE Tanzania Share Index (TSI), slightly fell during the week after losing a 0.09 point to close the week at 3,494.06 points. The drop follows a 0.003 percent drop of the domestic market capitalisation originating from the DSE counter which fell by 1.11 per cent. The domestic market capitalisation closed the week at 9.17tri/- ($3.99bln). […]
Tullow Oil Kenya Managing Director Martin Mbogo demonstrates the firm’s progress during an interview at his Nairobi office on February 20, 2020. PHOTO | FILE | NATION MEDIA GROUP Oil firms recover their exploration costs over years once production and sale of the commodity start, which in Kenya’s case is planned for 2022. Tullow, which […]
Nairobi County Assembly which is this week expected to pass a new supplementary budget which will allocate Sh3.5 billion to the Nairobi Metropolitan Service . PHOTO | FILE | NATION MEDIA GROUP The Nairobi Metropolitan Service (NMS) will get a huge financial boost after being allocated Sh3.5 billion for its operations before the end of […]
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