Author: Francis Muli

Members of Parliament have abandoned the Parliamentary Service Bill 2018 that sought to fatten their package just a day after President Uhuru Kenyatta said he will not sign it. The bill was supposed to be passed before the MPs’ Christmas recess, but it has been plucked out of the list of parliament business. However, according to media reports, the bill might not have been dropped for good and might be brought back to parliament in 2019. “I have to say this, and I know many people will get angry with me. There are some things people are trying to pass in…

Kenya Airways (KQ) has postponed plans to fly to Somalia’s Mogadishu due to delays in getting additional airline and operational requirements. The flights to Mogadishu were supposed to commence on December 5, but failed the national carrier failed to take off. “Kenya Airways wishes to update its guests and the public, that due to the delays in the getting the additional airline and operational requirements for flights between Nairobi and Mogadishu planned for December 5 have been further postponed,’’ read a statement from KQ. Before that, the flight to Mogadishu had been scheduled to commence on November 15 but…

Central Bank of Kenya Governor Patrick Njoroge has been appointed to the United Nations (UN) task force on digital financing of the Sustainable Development Goals (SDGs). In his new role, together with other members of the task force, he will recommend strategies to harness the potential of digital finance and financial technology to advance the SDGs agenda. “We have already seen how technology has helped expand financial inclusion —itself an important goal— by 1.2 billion people in just six years. But we have only just begun to tap the potential of digital finance and investment to meet the broader agenda…

Canon Central & North Africa (CCNA) has launched its pioneering EOS R System  with range of full frame, mirrorless cameras in Kenya targeting professional photographers and filmmakers. The manufacturers have termed the new make as the world’s fastest auto focus camera with faster communication between camera and lens. “The EOS R System inherits all the existing system advantages, importantly full compatibility with existing EF and EF-S lenses and accessories, when using one of three newly-developed lens adapters, expanding the boundaries of image capture,” reads a statement from Canon. Canon further states that the EOS R System allows users to shoot and film…

Oman-based cement manufacturer Raysut Cement Co has expressed an interest in acquiring Athi River Mining (ARM) Cement Ltd. This comes a month after Nigerian tycoon Aliko Dangote expressed interest on the same company. Raysut plans to use Ksh10 billion to acquire the cash strapped company, a move that ARM is yet to comment on. “The acquisition will complement Raysut’s revised strategy to manufacture clinker in proximity to the markets it supplies to in East Africa,” read Raysut’s statement in part. ARM Cement’s administrators are seeking funds to reduce the company’s debts of $140 million (Ksh14 billion) by selling some of…

Importer and distributor of healthcare and consumer goods Harleys Limited is on the spot for selling substandard goods to Kenyans. The company is accused of repackaging pharmaceuticals products which they import  without expiry dates, choosing to make stickers locally and place on the products. This is not the first time the company is facing such allegations, as it is battling a court case where they are being prosecuted by the Director of Public Prosecutions (DPP) for importing sub-standard adult diapers from China. In this new case, they do not put KEBS stickers on these items (as shown in the image)…

Telkom Kenya has acquired a $40 million (Ksh4 billion) loan from the European Investment Bank (EIB) in a bid to expand its network, as well as increasing its market share. The loan consensus states that Telkom will use the money to boost its 3G and 4G coverage and invest in its Fibre-to-the-Building (FTTB) network. The finer details of how the loan will be used to achieve the aspirations and relevant time frames and/or contractors however remained wrapped. Read: Bamburi Cement Issues Profit Warning, 2018 Earnings To Slump By 25PC “The strategic support from the EIB will give impetus to Telkom’s data…

Business entities with a turnover of less that Ksh5 million will start paying presumptive tax as from January 2019. According to a statement from the Kenya Revenue Authority, the entities will pay 15 per cent of the business permit fee or license. Owners will pay for the tax at the time of payment for business permit fee or trade license. Eligible taxpayers will have to log into iTax to make payment for presumptive tax. The taxpayers shall be required to generate a Payment Generation Number (PRN) on iTax under Presumptive Tax Payment, after which they can pay through MPesa paybill number…

All is not pretty in the corporate world, as six companies listed with the Nairobi Securities Exchange (NSE) market have issued profit warnings in the 2018 financial year. The latest to issue a profit warning is Bamburi Cement, indicating that its profits would go down by over 25 per cent. The company attributed the slump to difficult market conditions as well as escalating international energy prices in both Kenya and Uganda. Cash strapped Kenya Power has followed suit, together with insurance provider Sanlam, Sameer Africa, Deacons and Housing Finance Group (HF Group). Kenya Power’s profits shrunk  by 63.7 percent to Ksh1.92…

Nairobi Governor Mike Sonko has lifted the Matatu Central Business District (CBD) ban, hours after he insisted that the ban was there to stay. The governor, in a statement said that he had been touched with the plight of commuters, the reason he decided to lift the ban. “I have noted with deep concern the plight of Nairobi residents as a result of the ban, and hereby announce that the full implementation of this directive has been suspended with immediate effect,” read the statement in part. Sonko said that he reached the decision of lifting the ban after holding a…

Despite a persistent fall of fuel prices in the international market, fuel prices in Kenya have remained high, and as Kahawa Tungu learns, the situation might not change any time soon. Petroleum Principal Secretary Andrew Kamau in February 2017 signed an agreement with an Israeli company, Rafael Advanced Defence Systems Ltd. The company would install security system for the yet to be built Turkana oil pipeline, and the current Kenya Pipeline Corporation (KPC) line at a cost of Ksh30 billion. The money would come as a loan from Israeli Bank Hapoalim. The loan according to agreement documents was meant for installation of cameras…

The court has declined to suspend matatu ban in the Nairobi Central Business District (CBD) in a case filed by matatu saccos. Instead, the court has directed saccos to serve county government of Nairobi, National Transport and Safety Authority (NTSA) and police with suit papers for hearing on December 6. The suit had been filed by the saccos seeking a suspension on the ban, which took effect today. Earlier on, Nairobi Senator Johnson Sakaja had vowed to go to court to seek court orders suspension on the same. The county government effected the ban today, announcing new pick up stations…

Bamburi Cement has issued a profit warning, indicating that the 2018 full year profits could go down by more than 25 per cent. The cement manufacturer attributes the slump on difficult market conditions as well as escalating international energy prices in both Kenya and Uganda. The decrease in profits is also attributable to increasing power costs in Kenya as well as additional provisions, mainly receivables, in Uganda as causes of the decrease. “This announcement is based solely on the company’s preliminary assessment of the group’s expected financial results of the year 2018,” reads a statement from the company secretary. The…

Top leadership of the International Planned Parenthood Federation Africa (IPPFA) at global level of the organization have been accused of covering-up corruption, sexual harassment, bullying and harassment of whistle-blowers and staff in general at IPPF Africa Region Office in Nairobi. Kahawa Tungu’s investigative desk has learnt that these acts of gross misconduct perpetrated by the Regional Director in Africa Region began being reported in 2017. Since 2017, three investigations were conducted, managed from both Regional and Central Office in London. However, the investigations did not delve into the issues raised by a number of staffers who have constantly been victimised. One of the…

Jacques Vermeulen has been appointed the new Chief Executive Officer (CEO) for Coca-Cola Beverages Africa (CCBA). The appointment of Vermeulen, who is the current managing director of its international division, took effect on December 1. Vermeulen has served as managing director of CCBA’s International Division, which covers all of CCBA’s Africa operations outside South Africa, since July 2016. He first joined the Coca-Cola system in 1995. CCBA Chairman, Phil Gutsche expressed optimism that the appointment of Vermeulen would steer the company to success in its expansion move in Africa. “Jacques brings his strong leadership and exceptional experience into this role. His…