SGR project: Appellate Court rules Kenya Railways failed to comply with the law

By Citizen Reporter,

The Court of Appeal has dealt a huge blow to the Kenya Railways Corporation after it ruled that it failed to comply with the law when procuring the St...

Okiya Omtatah , SGR

Budget day: Inside the 2020/2021 Ksh.2.73 trillion spending plan

By Kepha Muiruri,

The 2020/2021 budget barely differs with its predecessor as the total spend rounds off to Ksh, 2.73 trillion from Ksh.2.78 trillion last year. The ...

2020/2021 budget

Budget Committee seeks to raise budget by Ksh.50 billion

By Kepha Muiruri,

The National Assembly Budget and Appropriations Committee (BAC) has proposed ammendments to the 2020/21 expenditure estimates that will see a cumulati...

2020/2021 budget , National Treasury

NCBA Group records Ksh.2.4B pre-tax profit for quarter ending March 31

By Citizen Reporter,

The NCBA Group PLC (NCBA) has recorded a pre-tax profit of Ksh. 2.4billion for the quarter ending March 31, 2020. Total operating income for the qu...

NCBA

Gov’t releases Ksh.4.3B for Inua Jamii beneficiaries

By Agencies,

The Government has released Ksh.4.37 billion for payment to beneficiaries enrolled in the cash transfer programmes. The money, channeled through th...

Centum sets aside Ksh.2.1 billion in anticipated losses from Amu Power

By Kepha Muiruri,

Centum Investment has set aside Ksh.2.1 billion as provision for the eventuality of a loss from its funding of the distressed Amu Power Company. Th...

Amu Power Company , centum , James Mworia , Lamu coal power project

Stanbic firm to keep minority investors in push for more shares

By Kepha Muiruri,

Stanbic Bank parent company- the Stanbic Africa Holding Limited (SAHL) (UK) is set to retain its minority investors for at least another year even as ...

CfC Stanbic , mergers and acquisitions , nse , Stanbic Africa Holding Limited

Consolidated Bank bond holders agree to revised payment date

By Kepha Muiruri,

Consolidated Bank bond holders have voted to side with the lender’s pushed repayment of their Ksh.1.6 billion, seven-year held maturing notes plus i...

consolidated bank

Kiambu County admits not following proper budget making procedure

By Agnes Oloo,

Kiambu County Government has admitted to having not followed proper procedure in making a supplementary budget seeking Ksh.16.5 billion for the curren...

kiambu , Supplementary Budget

OxyContin maker Purdue agrees to settle Oklahoma opioid case: source

By Reuters,

Purdue Pharma LP has agreed to settle a lawsuit by the state of Oklahoma accusing the OxyContin painkiller maker of helping fuel an opioid abuse epide...

Mike Hunter , Oklahoma , OxyContin

Crackdown on suspected electronic banking fraudsters instensifies

By Agnes Oloo,

The crackdown on suspected electronic banking fraudsters has intensified with four more suspects being arraigned in court on Friday. Damaris Muthei...

chase bank , consolidated bank , electronic banking fraud , Stanbic Bank

Kenya’s UK export slack opens door to regional rivals

By Kepha Muiruri,

Kenya’s exports to the United Kingdom (UK) declined in value by 20 percent between 2009 and 2016 pointing to the country’s diminishing export edge...

Chris Kiptoo , Coffee , Department for International Development , DfID , export , flowers , kenya , ODI , Trade , UK

The Ngiritas allegedly received half of NYS millions

By Citizen Reporter,

The alleged benefactors of the Ksh.468 million National Youth Service (NYS) loot can now be revealed according to a charge sheet that is set to be use...

Anne Ngirita , Director of Public Prosecutions Noordin Haji , Ngirita , NYS

Court suspends order on De La Rue currency printing tender

By Dzuya Walter,

High Court Judge George Odunga has temporarily suspended the Public Procurement Administrative Review Board (PPARB)  decision that nullified the curr...

Central Bank of Kenya , Court suspends order , currency printing tender , De La Rue , Lawyer Fred Ngatia , PPARB , PPRAB , Public Procurement Administrative Review Board

Uchumi narrows full year loss to Sh1.7bn

By Citizen,

Uchumi Supermarkets restructuring efforts have began bearing fruit with the retailer narrowing its full year to June loss by 39 percent. In the lat...

dispose non core assets , dividend , financial performance , full year results , government loan , Julius Kipng'etich , nakumatt , regional operations , restructuring plan , strategic investor , Uchumi supermarkets

Activist Okiya Omtatah sues land investment group for fraud

By Simon Ngure,

  Civil rights activist Okiya Omtatah has filed a petition at the Environment and Lands Court in Nakuru High Court protesting the alleged grab...

activist Okiya Omtatah , Land fraud

National Bank Q3 profit dips to Sh521m as bad loans rise

By Citizen,

National Bank of Kenya (NBK) has recorded a 76.8 percent slump in its third quarter net profit. During the period ended September, the bank’s net...

bad loans , Central Bank of Kenya , loan loss provision , national bank , NBK , non-performing loans , NSSF , third quarter results , Treasury

Raila toying with Kenyans on Eurobond issue – President Kenyatta

By Benjamin Wafula,

President Uhuru Kenyatta has called on the Coalition for Reforms and Democracy (CORD) leader, Raila Odinga, to substantiate allegations that some proc...

raila odinga , Uhuru kenyatta

Raila advises investors to keep off Kenya’s second Eurobond

By Benjamin Wafula,

CORD leader Raila Odinga has cautioned international financial institutions and investors against buying into Kenya’s second Eurobond proposed to be...

Eurobond , raila odinga

Auditor disputes over Ksh30m owed to Nyamweya by FKF

By Charity Wanja,

Football Kenya Federation (FKF)’s appointed auditor, Alloys Otieno, has rejected payment of over Ksh30.80m owed to former president, Sam Nyamweya th...

Annual General Meeting , auditor , FKF , football , Nick Mwendwa , Sam Nyamweya