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NEWS & CURRENT AFFAIRS

Digital News

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Macharia Kamau

Two firms begin construction of 70MW geothermal plants in Menengai

Two power producers have started the construction of electricity plants with a combined capacity of 70 megawatts (MW) at the Menengai geothermal fields.

Two firms begin construction of 70MW geothermal plants in Menengai

Will Treasury succeed this time to trim State's transport costs?

Will Treasury succeed this time to trim State's transport costs?

Savannah ups offer in fight for Bamburi with Tanzania firm

Savannah ups offer in fight for Bamburi with Tanzania firm

Power sector on edge as new plants dry up amid surging demand

Power sector on edge as new plants dry up amid surging demand

CRB listings nearly doubles as State drive backfires

The number of borrowers blacklisted by different lenders, mostly digital lending platforms run by commercial banks and mobile digital loan apps, has risen by a staggering 3.85 million.

CRB listings nearly doubles as State drive backfires

High cost of internet devices and skills gap widen ICT access gap

Many Kenyans are struggling with the high cost of internet and mobile devices in the country, limiting the impact that the high internet coverage could have on many.

High cost of internet devices and skills gap widen ICT access gap

Firms increase night operations to benefit from cheaper power

Epra data shows companies on off-peak electricity tariffs grew 56 per cent by the end of June as the regulator considers some changes in the thresholds to be more friendly to firms.

Firms increase night operations to benefit from cheaper power

Banks begin to lower cost of credit amid Treasury pressure

NCBA announced it has reduced its base lending rate on Kenya shilling and dollar loans. Lenders have been slow to reduce their charges even after CBK cut its benchmark rate.

Banks begin to lower cost of credit amid Treasury pressure

We need more Adani-type deals to grow, says Mbadi

The government is eyeing five Adani-like deals in the current financial year in what National Treasury Cabinet Secretary John Mbadi said would enable the government to finish key projects.

We need more Adani-type deals to grow, says Mbadi

Revealed: The faces behind fake cement trade

Locally, out of the about 10 cement producers, only four have clinker production capacity. This means the other manufacturers have to rely on competition for this key raw material.

Revealed: The faces behind fake cement trade

Firm's northern circuit safaris offer alternative for tourists

The massive increase in park and community levy fees in the Maasai Mara Game Reserve earlier this year has also affected big group bookings.

Firm's northern circuit safaris offer alternative for tourists

Portland Cement seeks debt-free expansion with Sh9b land sale

In addition to technological upgrades, East African Portland Cement is seeking to optimise energy consumption through more sustainable solutions.

Portland Cement seeks debt-free expansion with Sh9b land sale

Financial hardships hamper push for solar uptake

Solar electricity systems are key to achieving universal electricity connection in Kenya but the economic situation of targeted households raises doubts.

Financial hardships hamper push for solar uptake

Airlines join bid to block Adani deal

Local airlines have rejected controversial plans to hand over the Jomo Kenyatta International Airport (JKIA) to India’s Adani Airports Holdings.

Airlines join bid to block Adani deal

Kenyans have four days to give Mbadi views on taxation, debt management

Kenyans have four days to give the National Treasury CS John Mbadi their views on how they would like the Ministry to manage the country’s financial situation going forward.

Kenyans have four days to give Mbadi views on taxation, debt management

Questions as Indonesian firm set for energy deal

Indonesian energy firm PT Pertamina Geothermal Energy is seeking entry into Kenya’s power production sector following a deal to develop two geothermal fields in Suswa and Olkaria.

Questions as Indonesian firm set for energy deal

How rot in police force drives away businesses

Maraga-led task force finds most police officers take bribes and allow free passage of counterfeit goods, recommends disbandment of the traffic unit and the use of technology.

How rot in police force drives away businesses

Cost of State emergency loans spikes on higher CBK base rate

Interest rates on the government’s overdraft facility, through which Treasury borrows directly from CBK increased by 87 per cent over the financial year to June 2024

Cost of State emergency loans spikes on higher CBK base rate

Austerity for who? State splurges Sh27b on foreign trips

A new report shows that spending on domestic and foreign travel increased by Sh6.97 to Sh27.34 billion from Sh20.37 billion in the financial year to June 2023.

Austerity for who? State splurges Sh27b on foreign trips

How CBK rate hikes impact Treasury's emergency loans

Treasury paid Sh9.63 billion as interest over the last financial year compared to a charge of Sh5.16 billion in the year to June 2023.

How CBK rate hikes impact Treasury's emergency loans

Madagascar tycoon to buy Zuku parent firm Wananchi Group

Wananchi Group, which owns the Zuku brand, is planning to sell the company to Axian Telecom Fibre of Mauritius.

By 2 months ago

Madagascar tycoon to buy Zuku parent firm Wananchi Group

Tullow still pursuing strategic partner, says oil plan on course

Tullow Oil is yet to make much headway in its search for a strategic partner, which remains one of the key aspects needed to move Kenya’s oil project forward.

By 2 months ago

Tullow still pursuing strategic partner, says oil plan on course

How access to credit is boosting tech adoption, earnings for SMEs

KNBS estimates that there are about 7.4 million MSMEs in Kenya that employ over 14.4 million Kenyans across all sectors of the economy.

By 2 months ago

How access to credit is boosting tech adoption, earnings for SMEs

Local startup taps sports and creative economy with super app

Truly Kenya Ltd aims to create new economic opportunities for the country’s growing youth population, with its sights on the sports and creative economy sectors.

By 2 months ago

Local startup taps sports and creative economy with super app

State's share sale plan major boon for retail investors

Available figures indicate that retail investors’ participation in the bourse remains low, with domestic and international institutional investors currently the dominant forces.

By 2 months ago

State's share sale plan major boon for retail investors

Pump prices remain unchanged as Epra retains higher road levy

It is the second consecutive month that Epra has retained the cost of super petrol and diesel at the same levels, halting the reduction in pump prices witnessed for nearly a year.

By 2 months ago

Pump prices remain unchanged as Epra retains higher road levy

KQ, exporters stare at losses amid protests over Adani deal

Firms exporting fresh produce and other time-bound cargo are staring at huge losses after planes failed to land and take off

By 2 months ago

KQ, exporters stare at losses amid protests over Adani deal

Technology firm rocks market with new last-mile internet connectivity solution

An American firm is looking to revolutionise the local connectivity market with a new technology that enables businesses and institutions to deploy private cellular networks.

By 2 months ago

Technology firm rocks market with new last-mile internet connectivity solution

EAPCC in surprise dividend plan after sale of idle land

East African Portland Cement Company has said it will consider paying dividends to shareholders, which will be funded by the sale of idle assets.

By 2 months ago

EAPCC in surprise dividend plan after sale of idle land

Incessant blackouts: Which way for Kenya's ageing power network?

In the last week, the country experienced two major power outages, crippling not just businesses and households but essential services providers such as hospitals.

By 2 months ago

Incessant blackouts: Which way for Kenya's ageing power network?

Falling pump prices fail to spur fuel consumption amid tough economic times

The government has been subsidising the cost of petroleum products, which has partly been among the factors driving down pump prices, but this has also been adequate to lift consumption.

By 2 months ago

Falling pump prices fail to spur fuel consumption amid tough economic times

Rironi-Mau Summit road project snatched from France by China

The Chinese are now poised to develop the Rironi-Mau Summit road, which had been awarded to a consortium of French firms

By 2 months ago

Rironi-Mau Summit road project snatched from France by China

Standard Group shareholders approve Sh1.5 billion rights issue at annual meeting

The funds are expected to strengthen the media company’s balance sheet to be able to take advantage of emerging digital growth opportunities as part of an ongoing reorganisation.

By 2 months ago

Standard Group shareholders approve Sh1.5 billion rights issue at annual meeting

Kenya bets big on nuclear as US-Africa energy talks kick-off

Kenya will in September sign a nuclear cooperation agreement with the United States that is expected to firmly set Kenya up on a path to developing nuclear energy for electricity production

By 2 months ago

Kenya bets big on nuclear as US-Africa energy talks kick-off

Inside the decade-long bruising legal battle for 14 Riverside

The project was designed to be the epitome of high-end construction but contentious dispute involving billions of shillings has seen parties embroiled in court cases, arbitrations and appeals.

By 2 months ago

Inside the decade-long bruising legal battle for 14 Riverside

State forced to ignore of court orders on taxes to raise revenue

Epra has not reviewed fuel prices, acting contrary to court orders, despite having the legal tools to review prices in case of such developments.

By 3 months ago

State forced to ignore of court orders on taxes to raise revenue

Wandayi missed chance to lower fuel prices after court order

As the CS, Mr Wandayi would have been among the first people to be briefed, even consulted, about the pump prices before they were made public.

By 3 months ago

Wandayi missed chance to lower fuel prices after court order

Workers oppose private sector players in power transmission

Workers in the energy sector have opposed the handing over of some electricity transmission lines to private sector players under the public-private partnerships (PPP).

By 3 months ago

Workers oppose private sector players in power transmission

Kenya Airways posts Sh513m profit after 10-year hiatus

Kenya Airways has been in the red for more than a decade, having last reported a half-year profit of Sh384 million in 2013.

By 3 months ago

Kenya Airways posts Sh513m profit after 10-year hiatus

Troubled Mobius finds mystery rescuer in boost to local industry

The company says an undisclosed buyer has acquired 100 per cent of the shareholding after it announced closure last week after it failed to get traction in the market.

By 3 months ago

Troubled Mobius finds mystery rescuer in boost to local industry

KenGen to spend Sh32.2 billion on new geothermal electricity plant

With the addition of 80.3 megawatts, geothermal will overtake hydro on the national grid. The firm accounts for two-thirds of Kenya’s installed electricity-generating capacity.

By 3 months ago

KenGen to spend Sh32.2 billion on new geothermal electricity plant

Kenyans get raw deal in fuel prices

Epra fails to reduce VAT on fuel despite Appeals court declaring Finance Act 2023 illegal. Halving the tax would have knocked off Sh13 a litre, obeying orders on fuel levy another Sh7

By 3 months ago

Kenyans get raw deal in fuel prices

Fuel prices remain unchanged as regulator ignores court ruling on VAT

Epra also retained value-added tax on petroleum products at 16 per cent despite the Court of Appeal ruling that the Finance Act, 2023 is unconstitutional.

By 3 months ago

Fuel prices remain unchanged as regulator ignores court ruling on VAT

KenGen eyes power storage facility to cut costly thermal

KenGen is planning to build a battery energy storage system that will store excess energy from its geothermal power plants in Olkaria to be used when demand goes up.

By 3 months ago

KenGen eyes power storage facility to cut costly thermal

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