Author: Francis Muli

Telkom Kenya is targeting to raise at least Ksh3.87 billion through the sale of its properties in the country, an amount that will be contributed to the proposed merger with Airtel. Through Axis Real Estate, the telco is seeking to sell 17.8 acres of land, a move it says has received a nod from shareholders. “Under the transaction, Telkom is required to contribute funds in cash to the combined entity. Both entities in the transaction will contribute cash, for purposes of the transition and the integration of systems and network elements,” Telkom told Business Daily, without revealing the amount it is…

The Kenya Commercial Bank (KCB) has announced a 5 percent growth in after tax profit to KSh12.7 billion for the first half of 2019 ending June, as compared to Ksh12.1 billion in the same period last year. The lender attributed the growth to expanded loan book and increased mobile channel activity. Releasing the results on Thursday, KCB CEO Joshua Oigara said that prudent cost management further supported the performance despite a relatively tough business environment. Read: KCB’s Deal To Buyout National Bank Is Exploitative And Unfair To Kenyans – MPs “We had a strong second quarter and witnessed continued growth…

The State Public Service and Youth Department is unable to account for the expenditure of Ksh25 billion, the office of the Auditor General has revealed. According to the Auditor General Edward Ouko, of the Ksh25 billion, the department made payments amounting to Ksh21 billion that were either unauthorised, unreported or unaccounted. Payments vouchers for Ksh182.7 million were not available for audit verification since they were being held by various investigating agencies. “Under the circumstances, the payments as reflected on the statement of receipts and payments could not be confirmed to the extent of Ksh182.7 million represented by missing payment vouchers,”…

Eldoret High Court has reinstated five students of the Seventh-Day Adventist (SDA) faith suspended from AIC Chebisaas Boys High School in Eldoret for refusing to sit exams on a Saturday. The students were sent home on July 6, after allegedly refusing to sit exams on Saturday. SDA’s belief that Saturday is the true Sabbath, and that they should not work on the day other than going to church to worship God or “doing good” like visiting the sick in hospitals. To their relief, Eldoret High Court Judge Stephen Githinji on Wednesday directed that the suspended students be allowed back to…

The positions of the 575 Telkom employees retrenched by the firm will be advertised and interviews conducted after the merger with Airtel Kenya, Telkom has announced. In a statement to newsrooms, Telkom said that it was a requirement before the merger, and that the employees still have a chance in the merged entity. “This is line with the law and is a process that has to be undertaken before employees are able to move to any other entity and is still subject to regulatory approvals. The intention is to advertise and interview Telkom employees for positions in the Combined Entity…

“When Deputy President William Ruto becomes the President (of Kenya), I will retire from politics” were the concluding words of Garissa Township MP Aden Duale, at Citizen TV’s political show, Newsnight. Duale, who is also the national assembly majority leader, reiterated his support for Ruto come 2022, saying that he could serve as a clerk in State House under Ruto Presidency. “I have said in the past, if William Ruto becomes President, I will retire from politics. I can even serve as a clerk in State House,” he said. Read: Duale Breaks Ranks With DP Ruto Over Creation Of Prime…

The Kenya Revenue Authority (KRA) has seized three high-end cars suspected to have been stolen from the United Kingdom, headed to Kampala, Uganda. The cars, two Range Rovers and a Mercedes Benz, were seized at the Port of Mombasa Container Freight Station (CFS) in a container which was declared to be loaded with household goods. “On July 30, 2019, Customs Enforcement Southern Region received scanner alert pointing towards mis-declaration of a 40-foot container. The container which had been declared to contain personal and household effects were inspected non-intrusively using the Customs X ray scanner in Mombasa. The scanner image revealed…

The Kenya Institute of Supplies Examinations Board (KISEB) has written to the Kenya Accountants and Secretaries National Examinations Board (KASNEB) demanding answers on why the body is offering exams and certification to professional procurement officers. KISEB claims that it is their exclusive role to administer the exams and certification, and that KASNEB had overstepped its mandate. “You are purporting to conduct examinations for professional supplies certification which is the mandate of  Kenya Institute of Supplies Examinations Board (KISEB). A cursory look at Section 12, 13 and 14 of the Supplies Practitioners Management Act, 2007 shows that KISEB is exclusively mandated…

The Kenya Revenue Authority is now reviewing the files of taxpayers who filed nil returns for the year 2018. The taxman suspects that most people filed nil returns during or towards the deadline to avoid penalties that come with late returns, by opting the nil option which is easier and faster. Those found to have misrepresented their income by filing nil returns when they actually received taxable income will be expected to file an amendment return declaring the correct state of affairs. The amendment will then have to be approved by KRA, in the process needing more information from the…

Members of the Biashara Savings and Credit Co-Operative (Sacco) Society Limited in Nyeri were woken up by a message from the sacco on Sunday, urging them to withdraw their funds. The 2 am message said that the sacco would be closed by August 31, hence they should withdraw their monies before that time. “The message was calling out for the members to withdraw their money as the Sacco was due to close by August 31 this year. We want to assure our members and the general public to disregard the malicious message that was in circulation because all their funds…

At least Ksh533 Million from the National Youth Service (NYS) was spent on construction of Karen and Ngong Road furniture markets, which do not exist, according to the auditor general Edward Ouko. In a recent report, Ouko  says that the money was used to buy materials for construction of the markets, but operations have since stalled for two years following a legal claim on the land. For the Karen Market, the materials were to cost Ksh53.5 million while that of Ngong Road Market were to cost Ksh143 million amounting to Ksh196.5 million. The balance of Ksh336.5 million has not been…

Former gymnast Wendy Waeni’s manager Joe Mwangi has come out to claim that he is innocent, amid allegations of swindling the minor. Appearing on Chipukeezy Show at Ebru TV, Mwangi claimed that Waeni’s mother MsMagdaline Syombua is a drunkard and has been dishonest. “I gave Wendi’s mum 100k for wendi’s school fees. Wendi’s mum is a drunkard,” he said, amid allegations that he pocketed all income from Waeni’s performances. Read: DCI Launches Probe Into Wendy Waeni’s “Con” Ex-Manager Joe Mwangi  According to Mwangi, Wendi doesn’t need money right now, but instead needs guidance and counseling since her fees is catered…

Suspected Mombasa drug lord Ali Punjani today escaped police trap in his residence in drug swoop that has been declared by Interior CS Fred Matiang’i. Police in plains clothes, GSU officers and K-9 Unit police officers with sniffer dogs raided the home in Nyali trying to net Punjani, who is suspected to be a close ally of convicted drug lords, the Akasha brothers. He however managed to escape before police arrived. “We believe this house has been used to sell drugs. We will not get out of here until this house has been fully searched. We have names of certain…

A police officer in Murang’a dropped dead on Sunday in a drinking joint after barely taking a bottle of beer. The sergeant officer ordered a beer in the joint, and took it halfway before he fell on the table as if sleeping. Revelers who were in the club, thinking that he was just sleeping allowed him to rest for sometime before deciding to wake him up after around 20 minutes. Read: KDF Soldier killed, Body Burnt In Likoni However, the officer could not wake up prompting the revelers to call a medic from a chemist within, who confirmed that the…

The promised Mombasa – Nairobi expressway might not start any time soon, following revelations that greed and graft reigned high at the ministry of Transport and the Kenya National Highways Authority(KeNHA). According to a local publication, the project cost was inflated by 66.7 per cent, from an estimated cost of US$1.8 billion (Ksh185.7 billion) to US$3 billion (Ksh309.5 billion). The 485-kilometre highway was supposed to have commenced construction last year, but it was pushed to January this year as the US government which is the top financier smelt a rat, and hesitated its commitment. In January, the project failed to…