Loss-making Kenya Power plans to connect millions of its customers in rural homes with high-speed Internet as part of a fresh plan to capitalise on burgeoning mobile data usage in the country and grow new revenue streams.
This is a step up by the electricity distributor, which has been lea…
Sh27bn bad loan cut helps drive bank profits
Top banks saved up to Sh27.2 billion in the nine months to September on lower costs of handling defaults as borrowers resumed making payments following months of a freeze.
The eight tier-one lenders reduced their loan loss provisioning costs by up to 39 percent, underlining the supernormal…
Kenyans risk Sh4.8bn loss to bankrupt Spanish company
Kenyan taxpayers are on the verge of losing Sh4.8 billion to a Spanish firm contracted by the State-owned Kenya Electricity Transmission Company (Ketraco) to construct an electricity line linking the local and Ugandan power grids.
Ketraco lost a second attempt in court to stop paying the f…
Tuskys drops bid to lease brand amid survival fight
Struggling supermarket chain Tuskys has dropped the bid to lease its brand through a franchise after losing most of its stores due to non-payment of debt to landlords and suppliers.
The retailer had received approval from the Competition Authority of Kenya (CAK) to allow various independen…
Tanzania’s Ubongo wins innovation prize for child programming
Tanzanian-based nonprofit social enterprise Ubongo has won the 2021 Rotman Innovation of the Year Award for its education and entertainment broadcast programming targeting children in Africa.
The award comes with a cash prize of 10,000 Canadian dollars (US$7,876).
Presented…
Bringing ballet back on stage with Nutcracker
Having performed in The Nutcracker from the time she was two, Cooper Rust says the production of this classical ballet is a time-honored tradition that’s been practiced annually at Christmas time in Kenya since 2015 when her Dance Centre Kenya (DCK) first staged it at Kenya’s National Theatr…
Mobile lenders to reveal hidden fees in new rules
SUMMARY
The Competition Authority of Kenya (CAK) said the mobile lenders will disclose interest charges, late payment and rollover fees.
Dozens of unregulated microlenders have invested in Kenya’s credit market in response to the growth in demand for quick loans.
The CAK’s pursuit of d…
Why Turkana oil project ought to be given priority
There was a time when Kenya was upbeat about the socio-economic opportunities from Turkana oil discoveries. This is until one occurrence after another pushed the oil project further into the future. Global oil markets and prices which over the past seven years had discouraged investments are…
NCBA to open 4 new branches as profit doubles to Sh6.5bn
NCBA Group plans to open four new branches before the end of the year as it seeks to double its network to get “closer to its customers”.
The bank, which reported 2.5 times to jump in its net profit in the nine months to September on Wednesday, said it will set up the brick-a…
To doctors, nurses your nudity counts for nought
There is a Kiswahili saying that says Mficha uchi hazai which translates to, ‘one who hides nakedness (from their sexual partner) does not conceive!’
In your case and in this context, you would not have gotten better, if you had hidden your nakedness from the medical teams that took care o…