Kenya Railways Staff Retirement Benefits Scheme (KRSRBS) was established in 2006 to safeguard the interests of over 10,000 pensioners, and has assets estimated to be worth more than Sh20 billion, most of it in form of prime land parcels around the country, especially in Nairobi and Mombasa. The new developments come as the DCI investigates […]
Tag: nation media group
Power outages cost Zimbabwe businesses $200m weekly
A Zimbabwean student reads using a solar lamp. Zimbabwe is experiencing frequent and prolonged power outages. PHOTO | FILE | NATION MEDIA GROUP On July 20, making a call on Zimbabwe’s biggest mobile phone network, Econet, was almost impossible as its services were down. “Our generators failed to kick-in following a Zimbabwe Electricity Supply Authority […]
MPs ask Treasury to reject KCB’s offer to takeover National Bank
A branch of the National Bank of Kenya. PHOTO | FILE | NATION MEDIA GROUP The recommendation against the move is by the Finance and National Planning Committee, chaired by Kipkelion East MP Joseph Limo, that has been investigating the proposed acquisition. The committee has recommended that NBK’s principal shareholders – the National Treasury (22.5 […]
Kenya’s economy grows as job losses soar
Residents stage protests outside the East African Breweries plant in Kisumu on December 7, 2017, calling for employment. PHOTO | FILE | NATION MEDIA GROUP Thousands of families stare at bleak economic times following a wave of employee layoffs announced by leading companies in the past few weeks. The job losses in commercial banks, breweries […]
Tanzania bourse suffers low trade figures
The Dar es Salaam Stock Exchange recorded a 32 per cent fall in liquidity during the second quarter of 2019, compared with Quarter 1 data. PHOTO | FILE | NATION MEDIA GROUP The Dar es Salaam Stock Exchange recorded a 32 per cent fall in liquidity during the second quarter of 2019, compared with Quarter […]
Diageo, EABL parent company, to retrench staff in Kenya
EABL plant at Ruaraka in Kenya’s capital Nairobi. The firm’s parent company Diageo plans to retrench more than 100 employees in Kenya. PHOTO | FILE | NATION MEDIA GROUP The Diageo Africa Business Service Centre (ABSC), the only shared service centre in Africa and one of five globally, will be shutting down and its role […]
Support textiles and apparel sector for much-needed jobs
Workers at the Export Processing Zone in Athi River. FILE PHOTO | NMG Research has produced an astonishing number of expert papers describing how best to harness the great potential in the cotton, textiles and apparel sector to create jobs and earn foreign exchange. The global apparel industry is worth about $800 billion annually with […]
NSE slide sees dividend beat Treasury bill yields
The Nairobi bourse. Dividend yields of more than a dozen NSE- listed companies are now higher than Treasury bill rates. FILE PHOTO | NMG Dividend yields of more than a dozen Nairobi Securities Exchange- (NSE) listed companies are now higher than the prevailing Treasury bill rates, offering alternative investment option in a tough climate. The […]
Kenyan stand at UK travel fair fails to impress
Visitors at the World Travel Market fair in Docklands, London. Kenya Airways, KTB and the Tourism Ministry did not take part. PHOTO | CORRESPONDENT | NATION MEDIA GROUP London For many years, the Kenyan stand at the World Travel Market in London has been one of the biggest attractions. It typically occupies a large space […]
Car smuggling ring eludes KRA dragnet
Vehicles imported fraudulently are destroyed at the East African Portland Cement on August 31, 2018. PHOTO | FILE | NATION MEDIA GROUP In 2016, the taxman had indicated that there could have been more than 300 other vehicles on Kenyan streets with questionable registration. KRA has since recovered some Sh36 million from the car syndicate […]