According to Kenyan Wallstreet, Telkom Kenya has announced plans to lay off 575 employees in its establishment. The massive lay offs are as a result of the telecommunications company’s decision to enter into a joint venture with its fellow mobile services company Airtel Kenya. On the 8th of February 2019, Telkom Kenya and Airtel Networks limited signed an agreement to unite their operations. The agreement came to life as a result of a desire by both companies to create a business with a greater distribution network, improved efficiency, and a very well planned brand presence. In order to hasten their…
Author: Tobey
Phelister Decoder Phelister decoder which was introduced into the Kenyan market in May 2018, is a free to air digital decoder whose features also include full HD 1080P, USB input, a personal video recorder (PVR) and of course gives users the ability to enjoy viewership of a variety of local channels. Phelister decoders currently cost a one time fee of 2,399 on jumia.co.ke which is 40% off from its original cost of 4,000 Kenyan Shillings. Phelister decoders, come with a free aerial as well on jumia.co.ke. ADN Decoder The ADN set-top box cost one time fees of 3,600 Kenyan Shillings…
Are you tired of the monthly bills from DSTV, GOTV and others like them? Have you ever wondered if there are other alternatives to their services? Or are you just curious? This article is for you. Free to air decoders save you from the hassles of paying monthly television bills. This is because all Free to air decoders, have a one time fee that is payable at the time of purchase. Think of the one time cost as a lifetime subscription fee. Oh and what is even better, is that you can reverse your subscription from pay as you watch…
According to Business Daily Kenya, Motorists planning to use the Nairobi to Nakuru to Mau Summit road, will pay between 1,458 Kenyan Shillings and 7,290 Kenyan Shillings as toll charges. The toll rates will make highways in Kenya among the most expensive to use in the world. The Kenya National Highways Authority (KeNHA) has recommended that high capacity vehicles like transit lorries for example, should pay 30 Kenyan Shillings per kilometre in order to use the toll road, while low capacity vehicles like personal cars will pay 6 Kenyan Shillings per kilometre on the 243 kilometre long highway. The 30…
Base Resources an Australian mining firms, has recorded a 26.1 percent increase in the value of titanium exports from its Kwale mine to 7 billion Kenyan Shillings in the second quarter which ended in June 2019. The increase is as a result of higher prices of the commodity in international markets. Sales in the same period last year )2018), stood at 5.5 billion Kenyan Shillings, with the higher selling prices more than making up for the reduction in production and shipments. The improvement in sales will inevitably lead to higher earnings for the Kenyan government which is paid royalties at…
The Kenyan government has made it known that it will work with whoever the Safaricom’s board decide to choose as the late Bob Collymore’s successor. The move is a far cry from its initial stance on the succession journey at Safaricom where it expressed its desire for the late CEO, to be succeeded by a Kenyan. According to a report by Reuters, the Kenyan government’s initial stance, led to a delay in the announcement of Bob Collymore’s replacement. The Information and Communications Technology (ICT) Secretary; Joe Mucheru stated last week that, “Their (Safaricom) board will decide who they will have…
According to reports by Business Daily Africa, the acting Managing Director of Kenya Power; Jared Othieno told the Senate committee on Energy that 13 members of staff were found to have been involved in generating tokens illegally. An estimate of 3,500 customers colluded with memebers of staff at Kenya Power, to steal 35.3 million Kenyan Shillings worth of prepaid tokens generated illegally from the utility firm. Mr. Jared Othieno stated that the staff who were involved were either sacked or disciplined administratively, Mr Othieno said. Kenya Power’s acting Managing Director also stated that the electricity distributor, will not be compensating…
According to Kenyan Wallstreet, East African Breweries Limited (EABL) has reported its full year financial results for the period ended June 2019. The company posted a 12% growth in reveneue to 82.54 billion Kenyan Shillings and a sharp rise in net profits from 2018’s figure of 7.3 billion Kenyan Shillings to 11.5 billion Kenyan Shillings in 2019. The cost of sales also increased by 0.08% to 44.43 billion Kenyan Shillings. East African Breweries Limited (EABL)’s volume grew by 11% due to strong performances across all categories and markets. Innovations also contributed 20.3 billion Kenyan Shillings to the firm’s revenues as…
Bidco Africa Group a very accomplished maker of consumer goods, has opened a 20 billion Kenyan Shillings ultra modern industrial park in Kiambu and already has plans to expand its manufacturing footprint with another plant in Nakuru. The new industrial park, also comes with a 66 kilovolt power station already installed, to supply 7.5 megawatts of electricity to the factory. President Uhuru Kenyatta who presided over the unveiling of the business complex on Thursday the 25th of July 2019, noted that the new factory has already created 1,000 direct jobs as well as 5,000 indirect jobs throughout the Bidco distribution…
From the 1st of September 2019, processed Juices, Bottled Water, Soda, and cosmetics will cost more. This is because the Kenya Revenue Authority (KRA), will be implementing a new tax system on a long list of consumable goods. The Kenya Revenue Authority (KRA), has reportedly set a target to raise 3.6 billion Kenyan Shillings more revenue from the new tax system. The Kenya Revenue Authority (KRA) made it mandatory for all manufacturers to install the Excisable Goods Management System (EGMS), which is expected to cost up to 2.80 Kenyan Shillings per item of production, and eventually add up to billions…
Kenya’s shilling dropped to 104.05/20 Kenyan Shillings per dollar on Thursday the 25th of July 2019, its lowest in nearly two years. According to Reuters, traders attributed the drop to the uncertainty caused by the announcement on Monday the 22nd Of July 2019, that the finance minister would be charged with financial misconduct. Since the announcement of the charges, the Kenyan Shilling, has lost 0.8 percent. Traders said banks had built up their dollar positions as a result of fears that the vacancy at the finance ministry could lead to further weakening of the Kenyan Shilling. According to Business Daily…
According the Kenyan Wallstreet, there have been reports of a shortage of the newly launched Banknotes. However, the Central Bank Governor Dr. Patrick Njoroge in response, has said that the new notes will increase in circulation starting this week. Dr. Njoroge made this known while appearing before the Public Investment Parliamentary committee telling the team that, “People will get their salaries in new banknotes this month,” The new look notes were first issued on the 1st of June 2019 but they have been in short supply ever since. The focus of Kenyans however, have been on the new generation 1,000…
President Uhuru Kenya has appointed Mr. Ukur Yatani as acting National Treasury and Planning Secretary. With this announcement Mr. Ukur Yatani replaces Mr. Henry Rotich for the meantime as he is currently fighting corruption charges. The former Marsabit Governor who lost his 2017 gubernatorial re-election bid, has been Kenya’s Labour and Social protection Cabinet Secretary. The Principal Secretary in the State department for planning, Dr Julius Muia, has also been moved to the National Treasury to occupy the position left vacant by Dr. Kamau Thugge, who is also facing corruption charges with Mr. Rotich. Devolution Principal Secretary Torome Saitoti in…
On Tuesday the 23rd Of July 2019, the Derivatives Market at the Nairobi Securities Exchange (NSE) saw an increase to 452,560 Kenyan Shillings. The increase was boosted by activity in East African Breweries Limited (EABL), Kenya Commercial Bank (KCB) and Safaricom, single future contracts. On Monday the 22nd of July 2017, the Nairobi Securities Exchange (NSE) derivatives market, referred to as NEXT, had posted a total value of 201,220 Kenyan Shillings. Tuesday’s trading saw Safaricom transact a total of 14 contracts for a value of 392,160 Kenyan Shillings. East African Breweries Limited (EABL) and Kenya Commercial Bank (KCB) had one…
