The fate of the Centum-backed Lamu coal power plant hangs in the balance after recommendations in a report presented to President Uhuru Kenyatta said its power purchase agreement (PPAs) with Kenya Power had lapsed. President Kenyatta appointed the taskforce in March after it emerged that Kenya Power had signed contracts committing it to take more […]
Steam pipes at the geothermal wells in Olkaria KENGEN power stations, Naivasha, Nakuru County on June 2020. FILE PHOTO | NMG The High Court has blocked KenGen from awarding a tender worth close to Sh1 billion to H. Young & Company (East Africa) Ltd, pending the determination of a petition filed by a local company. […]
Safaricom Limited’s headquarters, Nairobi. PHOTO FILE | NMG A tribunal has suspended a Communications Authority of Kenya (CA) directive requiring Safaricom to connect calls to a customer who has been waiting for the services since 2016. Communications and Multimedia Appeals Tribunal agreed with the country’s largest telco that the customer – Homeland Group – must […]
Nation Media Group (NMG)-Uganda will tomorrow launch a new and refreshed website for its flagship Uganda title, the Daily Monitor newspaper, as the first of many steps in the company’s digital transformation journey. The website, which will go live at midnight tonight, will incorporate content types from across the group’s media platforms, feature aspects of […]
An MTN stand at an expo. PHOTO | FILE | NMG East African investors have been offered free shares to motivate them to buy stock in telecoms firm MTN Uganda that opened its $250 million (Ush895.56 billion) initial public offering (IPO) on Monday. South Africa’s MTN Group is selling 4.47 billion shares in its Ugandan […]
A stockbroker at the Nairobi Securities Exchange trading floor. FILE PHOTO | NMG Foreign investor participation at the Nairobi Securities Exchange (NSE) rebounded last month after holding below 50 percent in the two previous months, indicating renewed confidence in the market. Foreign investors’ share of traded turnover at the bourse stood at an average of […]
Centum CEO James Mworia. FILE PHOTO | NMG Two Rivers Power Company (TRPC) has received Sh775 million ($7 million) loan from a commercial and industrial solar financier to expand renewable energy infrastructure projects for its parent firm, Centum Real Estate. The firm— wholly owned by Two Rivers Development Limited, which is in turn 58 percent […]
National Bank of Kenya managing director Paul Russo. DIANA NGILA | NMG It is now two years since Kenya Commercial Bank started executing the bail- out takeover of the National Bank of Kenya(NBK). I recently caught up with NBK managing director Paul Russo for insights into execution of successful bank turnarounds. We must not forget […]
The signing of the deal between Kenya and Barbados may not cut the length of the trip, but it gives airlines like Kenya Airways an easier access to the Caribbean through future code sharing.. PHOTO | FILE | NMG On Wednesday, Kenya inked bilateral deals on aviation cooperation, environmental conservation and trade and investment, on […]
An Air Tanzania plane. FILE PHOTO | NMG Air Tanzania will launch direct flights to Nairobi, Bujumbura and Lubumbashi in November, stepping up competition for Kenya Airways, which also serves these routes. The national carrier recently acquired two Airbus A220-300 aircraft, raising its fleet of A220s to four, boosting its plan to introduce more international […]
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