Author: Francis Muli

Telkom has announced the launch of the All-Network-Bundles, that will see customers on the network make calls for as low as KSh1.50 cents, per minute. The bundles, spaced out into four tiers, will see customers pay KSh19 for a daily bundle, through to KSh199 for a 30-day bundle: Any Network Bundles Price (KSh) Validity 10 minutes any Network 19 (KSh1.9, per minute) 24 Hours 30 minutes any Network 49 (KSh1.6, per minute) 30 Days 66 minutes any Network 99 (KSh1.5, per minute) 30 Days Telkom’s CEO, Aldo Mareuse termed the bundles as a game changer in the telco industry.…

The Capital Markets Authority (CMA) has announced that it has launched a probe into the KenolKobil takeover deal by French firm Rubis over suspected insider trading. The french company was set to acquire KenolKobil at a valued price of Ksh35 billion. CMA has since announced that it has instructed the Central Depository and Settlement Corporation to place a freeze on the suspected accounts to allow for the conduct of the necessary inquiries following suspicion of irregular trading of the company’s shares on the Nairobi Securities Exchange (NSE). “Consequently, in connection with these investigations the Authority has instructed the Central Depository…

Facebook’s secret software has identified and removed 8.7 million child abuse images in the past three months. On Wednesday, the social media giant said that previously undisclosed software automatically flags images that contain both nudity and a child, helping its reviewers. A machine learning tool was also revealed that it said caught users engaged in “grooming” of minors for sexual exploitation. Read: French Firm Rubis Set To Acquire 75 Per Cent Stake At KenolKobil Facebook has hinted that it mighty apply the same technology to its Instagram app, which is arguably the biggest photo-sharing social media platform. Before the new software, Facebook relied on…

The Annual County Governments Budget Implementation Review Report has indicated that only three counties reached and exceeded their target revenue collection for the 2017/18 Financial Year (FY). The counties include Tana River, Migori and Kwale at 188.8 per cent, 111.1 per cent and 100.5 per cent respectively. The county governments were expected to generate own source of revenue amounting to Ksh49.22 billion in total. However, the counties fell short of Ksh16.73 billion, collecting Ksh32.49 billion which was 66 per cent of the annual target. The counties collected almost the same amount in 2016/17 FY, amounting to Ksh32.52 billion. The aggregate budget…

The office of the Attorney General has drafted a new bill that entitles whistleblowers to 10 per cent of money or assets recovered from stolen loot. The proposed bill will create a Whistleblower Reward Fund financed mainly by the exchequer and donors, from which whistleblowers will be paid. “A whistle-blower who makes a disclosure which leads to the arrest and conviction of an accused person shall be rewarded with money from the Fund,” reads part of the Bill. The draft of the bill is under scrutiny by various stakeholders including the Attorney General and the Director of Public Prosecutions offices, civil…

Airtel Africa has announced plans to start an Initial Public Offering (IPO) to offset its debt, estimated at USD 5 billion (Ksh500 billion). So far, six companies have agreed to invest USD 1.25 billion (Ksh125 billion) through a primary equity issuance in the company at a post money equity value of USD 4.4 billion (Ksh440 billion). Among the companies include Warburg Pincus, Temasek, Singtel, SoftBank Group International and two others. Read: French Firm Rubis Set To Acquire 75 Per Cent Stake At KenolKobil The present transaction will not involve any sale of shares by existing shareholders, according a a statement sent to newsrooms.…

French fuel company Rubis Energie is set to buy out Kenyan oil marketing and distribution company, KenolKobil. Rubis Energie has proposed a take-over offer of 75.01 percent of the issued ordinary shares of KenolKobil which will see the company delist from the Nairobi Securities Exchange. The proposed offer price is at Ksh23 per share. By the close of business day at the Nairobi Stock E, KenolKobil shares were retailing at Ksh15.30. Read: Kenya Power Profits Nosedive As Graft Cases Intensify KenolKobil which operates in Kenya, Ethiopia, Uganda, Rwanda, Burundi and Zambia is worth close to $225 million (Ksh22.5 billion) by market…

The Directorate of Criminal Investigation (DCI) has summoned Kenya Pipeline Managing Director Joe Sang and 11 others over theft of money through unauthorised advancement of fuel to oil marketing companies disguised as loss. The company is said to have lost over Ksh70 billion through flawed tendering processes, inflated prices and scandalous deals. Among those summoned by the DCI alongside Sang include Madam Filicity Biriri, Mr Samuel Odoyo, Samson Soimo, Antipas Tirop, Felix Relimoi, Pius Mwendwa, Francis Cherotich, Carol Kiplagat, Beatrice Ogutu and Juma Amina. “This office is investigating a case of embezzlement of money, through theft by some oil marketing companies…

The Kenya Revenue Authority (KRA) is demanding over Ksh1.35 billion in taxes from Tatu City directors and its sister company, Kofinaf. In a letter dated October 22, KRA says that the Ksh1,359,678,000 entails tax arrears and accrued interest. “Please note that this notice is to restrict further transactions on the said pieces of land. In case of partial payment, this notice shall remain in force until the amount specified herein in fully recovered,” reads the letter in part. Consequently, the directors of the city and Kofinaf cannot resell the land until the amount is cleared. Read: How Foreigner Stephen Jennings Swindled KRA Ksh6.5…

North Horr MP Chachu Ganya and his Saku counterpart Ali Rasso have been released on a Ksh250,000 bail each. Ganya and Rasso were arrested over the Borana and Gabra inter-clan clashes in Marsabit where 14 were left dead. The Directorate of Criminal Investigations was seeking consent from the court to detain the two for 21 days, awaiting evidence from the Police Cybercrime Unit. The two have been charged with incitement to violence. Read: ODM Party Threatens To Intervene Should MCAs Not Impeach Obado Within Two Weeks “I have considered the submissions before court and there was no proof that they (accused) will interfere…

BMW has announced plans to recall more than one million diesel cars over faulty exhaust systems that could cause fire “in extreme cases”. In a statement, BMW said it was contacting sellers who would in turn get in touch with owners of the affected vehicles to arrange a checkup. According to the statement, in some diesel vehicles, glycol cooling fluid can leak from a faulty component called the exhaust gas recirculation cooler, which can combine with other substances in the system to create the fire risk. Read: Toyota To Recall 2.4 Million Faulty Hybrid Cars In The Market “The exhaust recirculation module…

Dr Sarah Nyendwoha Ntiro has died at the age of 92. Dr Ntiro died on Monday evening on her way to hospital, according to family members. Dr Ntiro was the first woman degree graduate in East and Central Africa. She attained her first Bachelors degree in History from the Oxford University in 1951. Dr Ntiro studied as a teacher at the Makerere University (then Makerere College) in the late 1940s for three years, after her basic education. In 1951, she joined Oxford University where graduated with a Bachelor’s Degree in History in 1954. At that time, no tertiary institution…

Former Kenya Power secretary Beatrice Meso and two others were presented in court today over lost report on faulty transformers a day after case against firm bosses adjourned. Yesterday, the Director of Public Prosecutions (DPP) Noordin Haji revealed that the file containing evidence against Kenya Power managers had gone missing, forcing him to adjourn the case. In a tweet, Haji says that the documents were under custody of Kenya Power. While in court, prosecutor Alexander Muteti told chief magistrate Felix Kombo that the original ERC report prepared on the procurement of faulty transformers had mysteriously disappeared. Read: Kenya Power Profits Nosedive…

The Kenya Aviation Workers’ Union (Kawu) has issued a strike notice to Kenya Airways (KQ) over the airline’s failure to agree with its employees on special pay and working conditions for the much hyped US direct flights. According to media reports, the strike will include cabin crew for the Boeing 787 Dreamliner aircraft that will be deployed for the first direct flight to New York. “It’s our demand that management commits to concluding the CBA negotiations before October 28, 2018. To that end we are calling on all our members across all sections, that is passenger services, cargo operations, passenger…

SIM swap fraud has been termed as a global threat to institutions and individuals in a recent survey. In the survey by mobile technology specialist Myriad Connect, 90 per cent of Kenya’s banking leaders have admitted that SIM swap fraud is a threatening issue for their organisations. The firm states that over 25% (individuals and institutions) of the respondents in the survey had been victims of SIM swap fraud. “SIM swap fraud is not limited to Africa. It is a growing global issue affecting even some of the most sophisticated technologies in the world,” says Willie Kanyeki, Myriad Connect Director Business…