400 gov’t officers cleared in vetting process

By Benjamin Muriuki,

The government has cleared 400 procurement and accounting heads in the ongoing vetting process which was ordered by President Uhuru Kenyatta in July. ...

Eric Kiraithe , President Uhuru Kenyatta , vetting process

KCB left as sole bidder for Imperial Bank acquisition

By Citizen Reporter,

Imperial Bank is set to have a new anchor shareholder to lift it out of a close to three year receivership. This as KCB Kenya has emerged as the le...

Acquisition , assets , banking , bid , Central Bank , chase bank , depositors , imperial bank , KCB , Kenya Deposit Insurance Corporation , liabilities , SBM

Court suspends Uhuru’s order on fresh vetting of all procurement heads

By Dzuya Walter,

The High Court has temporarily suspended the government's move to send home all heads of procurement and accounting in public offices as it seeks to h...

corruption , Joseph Kinyua , NYS scandal , Uhuru kenyatta , vetting

Auditor casts doubts ARM Cement’s viability after losses

By Reuters,

ARM Cement's independent auditor has cast doubt on the Kenyan company's survival as a going concern after losses mounted last year. The company, Ke...

ARM cement , audit , debt , financial loss , going concern , nse , poor financial run , Pradeep Paunrana , revenue , stock dumping , strategic investor

Gov’t orders all procurement, accounting heads to step aside

By Benjamin Muriuki,

The government has ordered all heads of procurement and accounting in public offices to vacate their offices with immediate effect as the war on corru...

corruption , Mwenda Njoka , Uhuru kenyatta

Home Afrika seeks investors amid growth in loss

By Citizen,

Listed property developer Home Afrika has sunk to a Sh180 million loss for the year ended December 2017. This is a seven percent growth in loss, fr...

capital raising , Dan Awendo , golf estate , Home Afrika , houses , Investors , Migaa , nse , Property developer

City Hall receives report linking Kidero to lost Ksh. 21B

By Citizen Reporter,

Nairobi City Hall has received the damning audit report that revealed Ksh.21 billion was misappropriated under former Nairobi Governor Evans Kidero. ...

corruption , EVANS KIDERO , KPMG , Mike Sonko , nairobi county

Nakumatt to petition creditor for reprieve

By Patrick Igunza,

Creditors of struggling retailer Nakumatt are facing the daunting task of keeping their money in the retailer after it emerged that it did not have mo...

assets , branch closure , creditors , debt conversion , ipo , liabilities , liquidation , listing , nakumatt , Peter Kahi , PKF

Sonko wants county payments stopped for auditing

By Dzuya Walter,

Nairobi County through its boss Governor Mike Sonko has filed a case at the Milimani law courts seeking to stop payments to all creditors so as to all...

City Council of Nairobi , Mike Sonko , nairobi county , Sonko wants county payments stopped for auditing

Court stops Matiang’i order on schools

By Dzuya Walter,

The High Court has temporarily stopped Education Cabinet Secretary Fred Matiang'i from dissolving management boards of primary and secondary schools ...

Court stops CS Matiang'i order on schools , CS Matiangi , Education Cabinet Secretary Fred Matiang’i , Education CS Fred Matiang'i , Kenya National Union of Teachers , Kenya National union of Teachers (KNUT) , KNUT , Primary Schools , secondary schools

EACC directs all public officers to declare wealth before end of year

By Wahome Gitonga,

The Ethics and Anti-Corruption Commission (EACC) has issued a directive to all state and public officers to declare their income, assets and liabiliti...

All State officers expected to declare wealth before December 31 , Declaration of wealth by state officers , Ethics and Anti Corruption Commission CEO Halakhe Waqo , Ethics and Anti-Corruption Commission (EACC).

Portland Cement sinks to Sh1.5bn full year loss

By Citizen,

State owned cement maker East African Portland Cement has posted a Sh1.45 billion net loss for the year ended June 30. This was a drop from the Sh4...

business restructuring , cement , dividend , East Africa Portland Cement , full year results , imports , insolvent , loss , revenue , sales , shareholders

Mauritian bank makes offer to acquire Chase Bank

By Citizen,

Mauritian baking group SBM Holdings has emerged as the front runner to acquire Chase Bank which has been under receivership since April 2016. This ...

banking , bond , Central Bank of Kenya , chase bank , Dr. Patrick Njoroge , fraud , KDIC , mauritius , partial access to funds , receivership , SBM Holdings

Devolution Ministry transferring assets to counties four years later

By Citizen Reporter,

The Ministry of Devolution and Planning has begun the process of transferring assets and liabilities that belonged to the non-operational local author...

Mumias sinks to Sh3.8bn six-month loss on cane poaching

By Citizen,

  Troubled sugar miller Mumias has posted a 70 percent increase in its half-year loss. During the six-month period Mumias’ loss stood at ...

Cane Poaching , electricity sales , ethanol , government bailout , half year loss , Kennedy Mulwa , Mumias , pricing , production , raw material , revenue , Sugar , sugar belt

Former FKF boss Nyamweya in alleged theft of KSh2.5m

By Citizen Team,

Football Kenya Federation (FKF) Aberdares branch Chairman Davis Chege has accused former federation boss Sam Nyamweya and a local bank of colluding t...

FKF , Sam Nyamweya

BP returns to profit in 2016 on slashed costs

By AFP,

BP returned to profit in 2016 as cost-cutting and lower charges linked to the Gulf of Mexico oil spill offset weaker crude prices, the British energy ...

bob dudley , BP , brent , crude oil , deep water horizon , drilling rig , Fuel , gulf of Mexico spill , london stock exchange , Oil , OPEC , return to profitability , Royal Dutch Shell , share price

High Court paves way for Imperial Bank depositors’ payout

By Sophie Kinoti,

Imperial Bank owners have been dealt a major blow after the High Court paved way for the payment of depositors. The clarification was made after th...

Banking Sector , Central Bank of Kenya , DTB Bank , high court , imperial bank , Imperial Bank Depositors’ Lobby , Justice George Odunga , KCB , KDIC , Kenya Deposit Insuranace Corporation , NIC bank

Imperial Bank customers to get 10pc of their deposits

By Citizen,

The Kenya Deposit Insurance Corporation (KDIC) has begun processing payments for Imperial Bank depositors who still have money held up in the bank. ...

bank was placed under receivership , CBK , Central Bank of Kenya , customers , DTB , exteded receivership period , fraud , imperial bank , KCB , KDIC , Kenya Deposit Insurance Corporation , large depositors

MP wants Uhuru to take action on corrupt governors

By Ruben Mutochi,

Narok West Member of Parliament, Patrick ole Ntutu, has challenged President Uhuru Kenyatta to crack the whip on governors and other leaders accused o...