Standard Business: Mumias Sugar to double production capacity06 Feb 2012 - Mumias Sugar Company (MSC) plans to more than double its production capacity in the next six months so as to ease the sugar shortage that saw the commodity's retail price hit a historic high of Sh200 per kilogramme in August last year. |
Capital Business: Banker urges MPs to speed up amendmentsNAIROBI, Kenya, Feb 6 – A top banker has called on Members of Parliament to fast track passage of the Banking Amendment Act saying it will help seal loopholes that are exploited by unscrupulous people. Standard Chartered Kenya Chief Executive Officer Richard Etemesi told a panel of MPs investigating the decline of the shilling that [...] |
Capital Business: Industry blooms ahead of ValentinesNAIROBI, Kenya, Feb 6 – The Kenya flower industry expects high sales in exports to Europe during Valentines week, despite ongoing problems with the euro zone crisis. Fresh Produce Exporters Association of Kenya (FPEAK) chief executive officer Stephen Mbithi said that the greatest volume of flowers will be shipped abroad between February 11 and 13, [...] |
Capital Business: Afren appoints Obath to boardNAIROBI, Kenya, Feb 6 – In efforts to strengthen its presence in East Africa, oil exploration corporation Afren has appointed Kenya Private Sector Alliance (KEPSA) chairman Patrick Obath to its global board as a non-executive director. Obath joins the London-based firm as it prepares to kick off an extensive exploration programme across its East African [...] |
Capital Business: Board changes ordered at troubled CMCNAIROBI, Kenya, Feb 6 – Auto dealer CMC Holdings is set for a major shake-up after the Capital Markets Authority (CMA) undertook to appoint a third of the directors to an interim board. In a statement, CMA said it would pick an independent chairman to head the caretaker board which will however retain the current [...] |
Capital Business: Major drive to purge use of DimethoateNAIROBI, Kenya, Feb 6 – The horticulture industry is working with the government to implement traceability in the crop market, as they continue to tour the country to promote the banning of the Dimethoate chemical in pesticides. Fresh Produce Exporters Association of Kenya (FPEAK) CEO Stephen Mbithi said that the traceability project will cost Sh15 [...] |
Capital Business: Nakumatt to cross-sell products in regional marketsNAIROBI, Kenya, Feb 6 – Regional retailer Nakumatt Holdings is planning to streamline its services across its branch networks in the East African region offering customers a wider and more diverse range of products. The supermarket chain that operates in Kenya, Uganda, Tanzania and Rwanda has already stepped up efforts to integrate its services in [...] |
Capital Business: Court paves way for NSE demutualisationNAIROBI, Kenya, Feb 6 – The Nairobi Securities Exchange (NSE) will now proceed with plans to separate the private ownership of the bourse from the management, after the High Court dismissed a case seeking to stop the process. Justice Cecilia Githua terminated the judicial review proceedings instituted by stockbroker Francis Thuo and Partners which had [...] |
Capital Business: Nyeri public hospital’s ICU gets bank aidNYERI, Kenya, Feb 6 – Kenya Commercial Bank (KCB) Group and the KCB Foundation over the weekend extended support to the Intensive Care Unit (ICU) of the Nyeri Provincial General Hospital. The bank presented a donation of two suction machines for the ICU valued at Sh520,000 which are aimed at easing the plight of patients [...] |
Star Business: Balala asks Moroccan airline to speed up planned Kenya flights07 Feb 2012 - TOURISM Minister Najib Balala has asked officials of a Moroccan airline granted permission to operate in Kenya to speed up its planning and launch direct flights between the two countries soon. Balala who is in Morocco to market Kenya was optimistic that the new tourism diversification strategy embarked on by his ministry will improve the country's popularity.The Moroccan airline Royal Air Maroc is expected to launch flights into Kenya soon an... |
Star Business: Corporates line up for ICT City07 Feb 2012 - Local corporates are increasingly showing interest to invest in the proposed ICT city, Konza, whose ground breaking is expected by April this year. The companies eying to lease part of the 5000 acres land for development include mobile operator Safaricom, IT solutions providers Seven Seas Technologies (SST) ,Express Automation,Computer Pride, mortgage financier Housing Finance and Chandaria Group of companies.Other orgarnisations that have exp... |
Star Business: Mumias Sugar’s profit edges up 4.5% in first half07 Feb 2012 - Mumias Sugar posted a slight pick-up in pretax profit to Sh1.30 billion for its first half through December, it said on Friday. Mumias is the largest sugar grower and miller in the east African nation of 39 million people. The country has an annual sugar deficit of around 200,000 tonnes, which is usually filled by imports from other producers in the region.Although the firm's revenue fell 5 percent a year before to just under Sh7 billion, the ... |
Star Business: Port congestion hits Malaba border07 Feb 2012 - THE congestion at the Port of Mombasa that reached its peak during December holidays and early January has led to massive traffic pile up at the Malaba border. The pile up started last Wednesday and by Sunday it had reached over 15 kilometers past Kocholiia to confirm the magnitude of the problem. Drivers complained that the snarl up had forced them to live from hands to mouth and forcing them to sleep in cabins owing to lack of resources.Cle... |
Star Business: KQ adds two brokers for rights issue07 Feb 2012 - KENYA Airways has appointed two morebrokers for its rights issue planned for later in the year to helpwith transactions in Uganda and Tanzania. The two Crested Stock SecuritiesLimited and Orbit Securities Company will steer transactions inUganda and Tanzania respectively joining Standard Investment bankwhich was appointed last year to broker the transaction in Kenya.The airline is still awaiting approvalfor the issue from Capital Markets Autho... |
Star Business: NHIF move could ease medical care07 Feb 2012 - Theaggressive move by the National Hospital Insurance Fund to cover thelarge number of employees in the public sector could lead to reducedinsurance premiums in whole industry. Theproviders might also revamp their product offerings to match chargedpremiums as competition intensify.Ina few weeks NHIF has signed two major deals likely to ruffle thehealth insurance market. Thisweek it signed a Sh4.2 billion premiums per year deal with TeachersSe... |
Star Business: Social Media Is A Game Changer07 Feb 2012 - The mobile phone was a silver bullet for Africa, it was the device which brought billions of Africans into the c21st. The mobile phone is variously estimated to have added up to 2.0% to GDP across the continent. The mobile phone now includes not only voice, but a mobile wallet and the mobile internet. Where once, whole swathes of Africans, were cut off from the World, today you will find the mobile phone even in the most remote places. And som... |
Capital Business: Indian products on display in KenyaNAIROBI, Kenya, Feb 6 –Merchants seeking to build on the India-Kenya trade relations are in Nairobi for an exhibit showcasing a range of products from the Asian sub-continent. Dubbed ‘Colours of India’ the exhibit that originated in Mumbai in 2008 consists of 37 SME’s and multi-nationals from India retailing consumer products ranging from clothing and [...] |
Standard Business: KIE turns to educational broadcasting06 Feb 2012 - The Kenya Institute of Education (KIE) has finalised plans to run a 24/7 audio and visual TV channel programmes aimed at enriching classroom teaching. The programmes cover languages, sciences, arts, agriculture and applied sciences. |
Standard Business: CMA summons CMC directors06 Feb 2012 - Capital Markets Authority (CMA) is expected to meet Cooper Motors Corporation (CMC) management on Monday to discuss the contents of a forensic audit initiated by the Regulator to determine whether there was a breach of corporate governance standards in the troubled motor company. |
Capital Business: EA players to discuss housingNAIROBI, Kenya Jan 26 – Private sector real estate players will meet in Nairobi with East African Community Housing ministers to discuss strategies of attracting international capital and expanding housing supply in the region. Conference spokesman Kizito Mokua said delegates will discuss strategies of increasing home-ownership opportunities, adopting new construction technologies for higher quality and [...] |
Business Daily: Continent must solve intra-trade puzzle05 Feb - It was an eventful week at the African Union headquarters in Addis Abbas, Ethiopia. Besides hot elections and the grandiose opening of the organisation’s gift from China, the issue of Intra- trade kept the continent’s honchos busy. |
Business Daily: Let’s fix problems facing country05 Feb - Some of my friends were enroute to Eldoret for business on January 27 where a “prayer” rally was scheduled at the 64 Stadium. There was such a carnival mood in the town and I wasn’t sure they would be able to effectively do business. |
Business Daily: JKIA needs to polish its global image05 Feb - In November 2011, CNN published its list titled “10 of the world’s most hated airports.” Our very own Jomo Kenyatta International Airport (JKIA) came in loud and proud at number six, having been drubbed by London’s Heathrow, the Los Angeles International Airport and Paris’ Charles de Gaulle who came in third, second and first respectively. |
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