Articles by Michael Karanja

Uchumi restructuring cuts full year loss to Sh2.8bn

1057, January 31, 2017 (EAT)

Uchumi Supermarkets’ restructuring efforts have begun paying off as the retailer cut its full year 2016 full year loss. In the period ended June ...

Auto dealers struggle as car sales dip 30.6pc in 2016

1843, January 18, 2017 (EAT)

New car sales dropped 30.6 percent in 2016, highlighting a turbulent year for auto dealers. Data from the Kenya Motor Industry Association shows th...

Central Bank retains CBR at 10% amid uncertainty over global economy

1915, November 28, 2016 (EAT)

The Central Bank of Kenya’s monetary policy committee (MPC) has retained the benchmark lending rate at 10 percent. In making its decision, the co...

Relief as Treasury releases Sh7bn for tax refunds

1908, October 3, 2016 (EAT)

The government has released Sh7.1 billion to the Kenya Revenue Authority (KRA) to clear outstanding tax refunds. The move will offer relief to firm...

Sugar shortage is artificial, AFA says

920, September 28, 2016 (EAT)

The Agriculture and Food Authority (AFA) has dismissed claims of a sugar shortage in the country. The authority’s sugar directorate has termed th...

Co-op Bank takes the lead in lowering interest rates to 14.5pc

1832, August 26, 2016 (EAT)

The Co-op Bank has become the first lender to lower interest rates in line with the new law capping interest rates. The bank has lowered interest r...

Gov’t acquires 40% stake at De la Rue

1307, August 18, 2016 (EAT)

The government has paid 663.3 million shillings to acquire a 40 percent of currency printing firm De la Rue. This marks the end of an eight year pr...

Publishers want books zero-rated

1259, August 18, 2016 (EAT)

The Kenya Publishers Association wants the Government to amend the Finance Bill 2016 to have books included in the list of zero-rated items in order t...

An extra coin for Safaricom shareholders

1022, July 26, 2016 (EAT)

Safaricom shareholders will have more to smile about after the listed teleco announced a special dividend of Sh0.68 cents per share. This will see the...

Global leaders at UNCTAD 14 urged to narrow global inequality

1214, July 18, 2016 (EAT)

Global leaders attending the 14th session of the United Nations Conference on trade and development have been argued to lower the gap of Global econom...

Kenya Airways sacks 80 employees in phase 1 of retrenchment

1123, July 8, 2016 (EAT)

National carrier Kenya airways (KQ) has sent home close to 80 employees in the first phase of its staff rationalization program. The airline in Mar...

High Court delays ruling on Imperial Bank payment

1326, July 5, 2016 (EAT)

Efforts to repay Imperial Bank depositors were dealt a further blow after the High Court postpone ruling on the suspension of payments. The court w...

Munga to sell 23.3% stake in Britam in two years

1641, July 1, 2016 (EAT)

Billionaire investor Peter Munga has announced that he will sell the 23.3 percent stake he is acquiring in financial services firm Britam Holdings wit...

KQ appoints new COO as part of management changes

1159, July 1, 2016 (EAT)

National carrier Kenya Airways (KQ) has appointed Jan de Vegt as the new chief operating officer, signaling the sweeping management changes expected a...

KenGen nets Sh26.4 billion from shareholders

1118, June 30, 2016 (EAT)

The Kenya Electricity Generation Company, KenGen, has raised Sh26.4 billion from selling new shares to existing shareholders. The power producer ho...

Kenya Pipeline begins search for KPRL advisor

1741, June 29, 2016 (EAT)

The Kenya Pipeline Company (KPC) is seeking a transaction advisor to evaluate renovation costs for the oil refinery. The state corporation took man...

Gov’t to single source Nairobi-Naivasha SGR supervisor

1140, June 29, 2016 (EAT)

The Kenya Railways Corporation is set to single source a consultant to oversee the construction of the Nairobi-Naivasha standard gauge railway line. ...

Central bank governors to ensure market stability after Brexit

1636, June 27, 2016 (EAT)

Central bank governors from across the globe are keeping a close eye on market developments following the Great Britain’s vote to leave the European...

CBK ready to shield shilling against Brexit fallout

1524, June 25, 2016 (EAT)

The Central Bank of Kenya (CBK) has reaffirmed its commitment to support the shillings following Great Britain’s vote to leave the European Union. ...

Court bars transfer of Imperial Bank assets to NIC

1218, June 23, 2016 (EAT)

The High Court has blocked a move by the Central Bank of Kenya (CBK) to transfer assets and liabilities of Imperial Bank to NIC Bank. This follows ...