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AAR to set up Nairobi hospital in Sh10bn expansion
The firm has been expanding its presence in the Kenyan market by opening Out- patient centres in major towns in the country.NAIROBI, Kenya, Apr 18 – AAR Healthcare is set to open a 100-bed capacity...
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Experts caution over 2015/2016 government borrowing
The government is hoping to maintain inflation at five percent in the medium term as well as improve revenue by 20 percent in the period under review based on the ongoing tax reforms in the...
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KNBS to launch 2015 economic report Wednesday
With the rebasing of GDP, Kenya’s growth rate for 2013 was also been revised higher, to 5.7 percent growth in 2013 from an estimated 4.7 percent. NAIROBI, Kenya, Apr 28 – The Kenya National Bureau of...
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Kenya’s economic growth slowed in 2014
The building and construction sector recorded an accelerated rate of 13.1 percent in the period under review compared to 5.8 percent growth in 2013 with cement consumption rising to by 21.8 percent to...
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Good tidings for banks as Kenyan firms borrow Sh1.4tr
The rise comes as the banking sector went through developments in the period under review that includes the introduction of Kenya Banks Reference Rate (KBRR) as well as the introduction of full file...
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REA Vipingo shareholders approve land sale to Centum
Shareholders of REA Vipingo Plantations voted in favour of the resolution at an Extraordinary General Meeting/FILENAIROBI, Kenya Apr 30 – Shareholders of REA Vipingo Plantations have approved sale of...
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M-PESA Foundation to construct academy in Kiambu
We as government are happy to see these kinds of initiatives as they redefine our economic growth and provide new opportunities to the disadvantaged,” said Deputy President William Ruto. NAIROBI,...
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Tuskys hires CEO ahead of public offer
The directors have appointed Dan Gathua as the Chief Executive Officer effective May 4, 2015 who will lead a team of professionals who are already heading various departments in the...
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IRA introduces new Islamic insurance rules
, the Takaful operator is expected to report separately assets, liabilities, revenues and expenses relating to conventional business and Takaful business and ensure total separation of the Takaful and...
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Boda bodas generating Sh400mn daily in Kenya
Kalua says the industry has contributed over Sh2.2 billion to the exchequer in form of direct taxes with over 500,000 motorcycles on Kenyan roads/FILENAIROBI, Kenya, May 6 – The motorcycle business in...
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Commercial bank lending rates stand at 15.5pc
The report indicates that the spread between the benchmark and the commercial bank rate stands at lows last witnessed in December 2012/FILENAIROBI, Kenya, May 7 – The average lending rate for...
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Increasing fraud in Kenya’s insurance sector alarming
NAIROBI, Kenya, May 8 – The insurance sector is alarmed of the rising trends of fraud especially in general insurance (motor insurance and medical insurance). According to the industry, 20 percent of...
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Demand for credit increases in 5 sectors of economy
According to the survey, banks foresee an increase in Non- Performing Loans in four sectors that include: Tourism, Personal/Households, Transport and Communication and Real Estate sectors in the second...
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ERC says there’s enough Super petrol in the country
The commission states the country has enough stocks of Super Petrol in Mombasa and effort is being made to ensure that the product is pumped to Nairobi/file. NAIROBI, Kenya, May 11 – The Energy...
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Botswana’s Choppies Supermarket to enter Kenya in 2015
The retail chain intends to enter the market through acquisitions when expanding as its management has hinted at the possibility of an acquisition in order to establish a footprint in Kenya/CFMNAIROBI,...
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CBK says it is monitoring the shilling
enya and IMF agreed on a stand-by loan deal to support the country’s economic reforms and give it a cushion against external shocks/FILENAIROBI, Kenya, May 12 – The Central Bank of Kenya (CBK) on...
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EABL sale of glass subsidiary valued at Sh4.5bn
The proceeds from the sale will be used by EABL to reduce existing debt and in investing in its core beverage business/FILENAIROBI, Kenya, May 13 – East African Breweries Limited (EABL) has announced...
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REA Vipingo buyout offer extended for two weeks
Initially, the offer to buy all issued ordinary shares of the Nairobi Securities Exchange-listed sisal grower was slated for closure on May 13, 2015/FILENAIROBI, Kenya, May 14 – Shareholders of REA...
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KPC says it’s not to blame for fuel shortage
In a statement the KPC acting Managing Director Flora Okoth says the company has enough stocks in their systems in Nairobi and other parts of the country for all products/FILENAIROBI, Kenya, May 14 –...
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Crude costs, weak shilling push fuel prices up
The ERC Director General Joe Ng’ang’a said the increase was attributable to increase in the international crude oil prices that went up by seven percent leading to an increase of between 2.7 percent...
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