Trade and Investment
High Court blocks Presidential appointee at troubled cement maker
By Today Financial News Reporter
Management crisis a the troubled East African Portland Cement Company (EAPCC) deepened Wednesday after the High Court blocked Mr Isaac Ole Mapenay from taking over as chairman of the board.
Industrialisation minister Amason Kingi sacked board
Mr Mapenay was appointed by President on Friday last week to replace Mr Mark ole Karbolo whose team has waged a running court battle with the government after acting Industrialisation Minister Amason Kingi sent them packing in December last year.
Oil prices drop again as global economy slow down due to financial crisis in Europe
By Ben Kinyanjui
Oil prices continued to drop as the impact of global economic slowdown sparked by the financial crisis affecting most European countries.
Reduced purchasing power in Europe has affected manufacturing in most parts of the world hence reducing demand for oil imports that has seen oil prices stabilise. A tonne of crude was imported into Kenya at $1069.01 in January.
Kenyatta National Hospital restructures operations, unveils decentralized management structure
By Today Financial News Reporter
Kenyatta National Hospital (KNH), the largest referral hospital in the country has embarked on an ambitious restructuring process to turn it into a world class facility.
In deploying the strategy developed by the new Management team led by the Chief Executive Officer Mr Richard Lesiyampe, efforts to revamp the national medical facility have kicked off with the unveiling of a new decentralized and robust management structure.
CMC board should be dissolve and a caretaker board appointed, says Capital Markets Authority
By Ben Kinyanjui
The Capital Markets Authority (CMA) has recommended the appointment a caretaker board to run the affairs of the troubled CMC motors in order to protect investors’ interests.
CMC Chief Bill Lay has waged war against former chairman
CMA board chairman Mr Kungu Gatabaki said a forensic audit by Messrs Webber Wentzel had raised serious concern over the way the motor vehicle selling company was being run.
Visiting World Bank Vice President to hold talks with President Kibaki
By Today Financial News Reporter
The World Bank Group Vice President for Sustainable Development, Ms Rachel Kyte, is in the country to hold discussions with top government officials.
Ms Rachel Kyte to visit some projects funded by World Bank
During her three-day visit, Kyte is expected to hold discussions with President Mwai Kibaki and Prime Minister Raila Odinga, on the Bank’s partnership with Kenya.
Inflation set to decline further this month as oil prices fall for a second month running
By Ben Kinyanjui
The persistent high inflation witnessed over the last six months could finally drop sharply this month as oil prices decline.
ERC director general Eng Kaburu Mwirichia
The Energy Regulatory Commission (ERC) announced Sunday that oil prices could drop by between Sh3-7 a litre as price of crude oil in the international market decline.
Manufacturers and cargo owners organise trade mission to Netherlands
By Ben Kinyanjui
Teampro in conjunction with Kenya Shippers Council and Kenya Association of Manufacturers is organizing a trade and investment mission from Kenya to the Netherlands in September. 
Trade logisitcs is critical for EAC region
The mission is supported by The Dutch Government through its agency, NL EVD International, under the Ministry of economic affairs through the CPA programme.
Nakumatt’s Sh40 million school fees burden relief
By Today Financial News Reporter
As the festive season draws to a close and the back to school rush begins, regional retail chain giant Nakumatt Holdings has announced the commencement of its unique Smart Points redemption program for school fees cheques.
The unique redemption program is one of the numerous benefits extended to loyal Nakumatt Smart cardholders who can now redeem their accumulated Smart points for school fees cheques drawn in favour of the shopper’s school of choice.
High tea and coffee prices fail to boost economy that declined to 3.6 per cent in third quarter
By Ben Kinyanjui
Modest 4.8 per cent growth in the agricultural sector in the third quarter of 2011 failed to jump-start the economy from a slow down that started in the second quarter of the year.
The sugar industry is doing poorly
Tea output expanded by 6.3 per cent from 764.4 million kilogrammes in the third quarter of 2010 to 813.3 million in 2011, while coffee delivered to marketing boards grew by 39.6 per cent from 7.7 million kilogrammes in the third quarter of 2010 to 10.7 million in the same period of 2011.
Drought killed five per cent of livestock in Kenya, says World Bank report
By Today Financial News Reporter
Kenya lost five per cent of its livestock population to recent drought that also left 3.7 million people mainly in the arid and semi-arid areas hungry.
Drought left 3.7 million people hungry
A World Bank report says weak policies both at national and regional level had contributed to the loss that can recur if mitigation measures are not put to place before the next drought.
Nakumatt Holdings opens new store in Nakuru, steps up expansion programme
By Ben Kinyanjui
Former President Daniel Arap Moi has challenged regional retailer Nakumatt Holdings to step up its expansion programmes locally and in the East African region.
Retired President Moi want Nakumatt to venture far and wide
While singling out what he described as a vast retail market in Juba, South Sudan, Moi noted that Kenyan firm has taken a positive lead in helping foster regional trade.
Troubled chamber of commerce and industry get chance to redeem itself
By Ben Kinyanjui
The meeting was well attended but the participants looked tensed and uneasy and for good reasons. For over a decade now, they have been squabbling and fighting leaving the once vibrant body almost unrecognizable. 
Mr Stephen Mbugua, KNCCI acting chairman says chamber has a bright future
Despite efforts being put by stakeholders led by the Kenya Private Sector Alliance (Kepsa) led by Eng Patrick Obath to redeem the body, the members are not convinced that time has come to break away with the past and chart a new path for the Kenya National Chamber of Commerce and Industry (KNCCI).
Thika Superhighway under construction boosts housing development
By Ben Kinyanjui
Developers in the real estate are now eying Thika Town and its surrounding to cash on the super highway that will reduce travel time to Nairobi by over 50 per cent.
The superhighway has opened Thika for real estate development
The Kenya National Highway Authority has confirmed that the new eight-lane superhighway from Thika to Nairobi will be completed along its entire length by March next year.
Boeing Dreamliner lands in Nairobi as Kenya Airways gear for fleet modernisation
By Ben Kinyanjui
The Boeing Dreamliner 787-800 makes its first landing in Nairobi with Kenya Airlines expected to acquire some within the next two years.
Kenya Airways CEO Titus Naikuni
The state-of-the-art aircraft is currently on a world tour to countries whose airlines have signed a purchase agreement with Boeing, and will be arriving from Ethiopia for the two days stay before proceeding on the tour.
UK-based investors to visit the country next week to explore trade opportunities
By Ben Kinyanjui
A delegation of United Kingdom (UK) based private equity investors are set to tour Kenya early next week to evaluate long term trade, development and investment opportunities in the local market.
Impression of proposed Konza technopolis
Undeterred by the prevailing economic climate, senior executives from Britain’s DVK Group which manage an Africa investment fund are expected in the country early Monday for a series of high level exploratory meetings with top government officials as the organizations sets its eyes on Kenyan and surrounding countries opportunities.
Two top insurance companies merge as market consolidation gather momentum
By Ben Kinyanjui
The insurance Company of East Africa Limited (ICEA) and Lion of Kenya Insurance Company Limited have merged to form ICEA LION insurance company.
Imposing ICEA building in Nairobi
. The two companies are among the market leaders in insurance and financial services in Kenya and the wider East Africa region.
Prepare to face tough times ahead, warns economists
By Ben Kinyanjui
Kenyans will be hard pressed next year to deal with multiple challenges including elections under a new constitution and economic shocks transmitted from the global economy, says a new World Bank economic report.
WB Lead Economist for Kenya Wolfgand Fengler says the economy is unbalanced
The Kenya Economic Update says 2012 will be a defining year for Kenya due to national elections, the establishment of a new system of devolved government in 47 counties under a new constitution, and deteriorating global economic conditions.
Kenya faces tough year ahead, warns the World Bank
By Ben Kinyanjui
The World Bank launches a report on Kenya’s economy tomorrow with a warning that 2012 might turn out to be a difficult year.
World Bank Country Director Mr Johannes Zutt predicts a tough year ahead
The bank says the country enters into another election next year after the 2007/08 when violence associated with the disputed presidential results abruptly ended the country’s growth momentum.
Government set to support fishing industry within the Lake Victoria basin under the Vision 2030 strategy.
By Teresia Yulu
The government has put in place a mechanism to double fish output in Lake Victoria under the Vision 2030 economic and development strategy.
Vision 2030 Director of Manufacturing that falls under the Ministry of Industrialisation Mr Francis Maliti says fisheries cluster is the way to go to achieve the target. 
Fishing around Lake Victoria can be better organised
He said fisheries in the region provide employment to a critical mass within Kisumu and its neighborhood and the government intends develop its capacity to double its annual turnover.
Toyota Kenya spends Sh200 million to expand its branch network as high interest rates dampen demand for new cars
By Today Financial News Reporter
Toyota Kenya has opened a new multi-operational branch in Westlands, bringing the total number of Toyota facilities in Kenya to ten. 
Toyota cars are popular in Kenya
These include five branches and five authorized dealerships.
