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CBK to vet bank directors afresh, says Nyaoga
CBK Chairman Mohamed Nyaoga says the re-vetting has been necessitated by recent bank failures that threatened to crush confidence in Kenya’s banking system/FILE NAIROBI, Kenya, Feb 18 – The Central...
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Kenya, Uganda and Rwanda launch EA destination portal
The portal will be a shared platform for tourism trade operators to place their multi-country-packages promoting Kenya, Rwanda and Uganda; and provide a new channel to reach regional and international...
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Kenya vehicle sales declined by 28.7pc in January
President Kenyatta at the Volkswagen assembly plant in Thika/FILE NAIROBI, Kenya, Feb 21 – Kenya’s vehicle market started the year on a low note registering a 28.72 per cent decline in units sold in...
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DHL launches new delivery service in 6 African countries
On Demand Delivery site is accessed from any Smartphone, tablet or PC, and offers receivers up to six delivery options and also allows shippers to incorporate their own branding into customer...
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Safaricom seeks 40 female interns in 2017 tech internship program
The program dubbed Safaricom Technology Academy will also have four positions for persons living with disabilities, while the remaining 19 positions will be open to male interns/FILE NAIROBI, Kenya,...
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Kenya Commercial Bank to lay off staff
GROUP CEO Joshua Oigara at a previous briefing/FILE NAIROBI, Kenya, Feb 21 – Kenya Commercial Bank (KCB) Group plans to lay off some of employees in what the institution attributes to evolving...
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Tax from betting firms tripled in two years – KRA
The Bill proposes a tax charge on winnings at the rate of 20 per cent, an increase in betting tax from 7.5 per cent to 15 per cent as well as higher lottery tax from five to 20 per cent and gaming tax...
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Music Copyright Society license renewal declined
The Music Copyright Society of Kenya logo/COURTESY NAIROBI, Kenya, Feb 22 – The Kenya Copyright Board has declined to renew the license of the Music Copyright Society of Kenya (MCSK) for the year 2017....
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Sasini seeks approval to sell off Savanna Coffee House
Savanna Coffee House runs four restaurants on Nairobi’s Loita Street, Ralph Bunche Road, Muthangari Road and Mombasa Road/COURTESY NAIROBI, Kenya, Feb 22 – Sasini Limited is set to seek approval from...
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Barclays 2016 FY pre-tax profit dips 10pc to Sh Sh10.8bn
Barclays bank logo/FILE NAIROBI, Kenya, Feb 22 – Barclays Bank of Kenya’s pre-tax profit fell by 10 pc in full year 2016 to Sh10.8bn, compared to Sh12.07bn over the same period in 2015. The management...
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Tala raises Sh3bn as it seeks to expand in new markets
The firms’ mobile app for Android aggregates more than 10,000 different data points on a customer’s device, including financial transactions, savings, network diversity, and geographic patterns, and...
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BAT 2016 profit down by 15pc to Sh4.2bn
BAT logo/COURTESY NAIROBI, Kenya, Feb 23 – The introduction of excise duty and the use of excise stamps on cigarettes has cut British American Tobacco’s 2016 profit by 15 percent to Sh4.2 billion. The...
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KenGen to sell 5pc stake to SA pension fund
The deal which is subject to regulatory approvals will see KenGen sell the shares at Sh6.55 each to raise Sh2.3 billion/COURTESY NAIROBI, Kenya, Feb 23 – The Kenya Electricity Generating Company...
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KQ hopes direct United States flights could start in a month
Transport Cabinet Secretary James Macharia hopes that KQ will get the application approved in a month, paving way for direct flights to the United States/FILE NAIROBI, Kenya, Feb 24 – National Carrier...
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Kenya Power half year net profit hit Sh4.2bn
Power purchase costs went up to Sh26 billion from Sh24 billion due to the rise in unit purchases while fuel costs went down by 22 per cent to Sh6 billion from Sh8 billion recorded in 2015/FILE NAIROBI,...
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Stanbic records 10pc decrease in full year profits for 2016
Announcement of the results/COURTESY NAIROBI, Kenya, Feb 24 – Stanbic Bank has recorded 10 per cent decrease in 2016 full year net profit to Sh4.4 billion. Management attributes the decline to a...
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Acacia Mining invests Sh1.2Bn in high-grade gold exploration in Western Kenya
Mining firm says more exploration drilling and technical study work required to establish whether the project could be economically viable. NAIROBI, Kenya, Feb 27 – Acacia Mining will invest Sh1.2...
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Fero Mobile launches iris scanner Smartphone in Kenya
The new device will retail exclusively at Jumia Online retailer Kenya from Monday at Sh8,999. NAIROBI, Kenya, Feb 28 – Mobile brand Fero Technologies has launched its latest device in the Kenyan market...
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Turkana Wind Power project to generate up to Sh13Bn revenue per year
Assembly of the turbines began in March 2016 and all 365 are expected to be up and running by June 2017. NAIROBI, Kenya, Feb 28 – Lake Turkana Wind Power company projects to make Sh13.7 billion every...
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Drought pushes inflation to a one-year-high of 9.04pc
Over the review period, food and Non-Alcoholic Drinks’ Index increased by 3.28 per cent. /FILE NAIROBI, Kenya, Feb 28 – Drought has pushed Kenya’s Inflation to hit 9.04 percent surpassing government’s...
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