Category: East Africa

Conversion of the James Gichuru Road-Rironi section of the Nairobi-Nakuru road into a six lane highway will cost Sh8.3 billion more than was announced in July, according to an audit report submitted to the National Environment Management Authority (Nema). The report says that expansion of the road will cost Sh24.7 billion or Sh8.3 billion higher…

One of Tanzania’s largest consumer goods dealers, Modern Holdings East Africa (Masafi), has won a Sh927 million compensation for a consignment it lost during the 2007-2008 post-election violence in a landmark case that could open a floodgate of similar suits against the Kenyan government. The High Court in Mombasa ordered the Kenya Ports Authority (KPA)…

President Uhuru Kenyatta has appointed a team to oversee reforms aimed at turning around the coffee industry in a move likely to test the Judiciary’s powers and spark fresh turf wars with counties. In a gazette notice published on Friday, President Kenyatta appointed a committee to implement recommendations made recently by a coffee taskforce. The…

Japanese conglomerate Toyota Tsusho Corporation is eyeing more big-ticket contracts in Kenya after signing a support deal with the government. The Nagoya-based company, a unit of the Toyota Motor Corporation, says it is ready to undertake several projects in diverse sectors of the economy including mining and power generation. This will significantly expand its business…

More than 60 pilots quit national carrier Kenya Airways for greener pastures in rival Middle East airlines in the past year, the company’s management said. An undisclosed number of engineers have also left for better jobs as the Kenyan carrier struggles to dig itself out of a loss-making pit. Kenya Airways – popularly known as…

Kenya and Uganda are set to position East Africa as the next oil development frontier, Bloomberg Intelligence has said. The note based the findings on the discovery of several onshore deposits. They include the billion-barrel potential at Uganda’s Lake Albert and Kenya’s South Lokichar Basin. “While early-stage, with full development not expected until 2020 or…

Kenya’s removal of excise duty on locally assembled cars will boost the industry, but the government must make power supplies cheaper and address other concerns to draw more investment, the automobile industry association chief said on Thursday.With little growth in mature markets, automakers are looking to tap into emerging African markets, but there is plenty…

Kenya’s biggest lender by assets KCB on Wednesday reported a five-fold increase in average monthly lending to individuals, signalling rising interest in borrowing since the coming into force of a new law capping of interest rates. The bank said it had lent out Sh6.3 billion in three weeks, disapproving earlier fears that the new loan…