Afya Sacco has officially written off Sh361.6 million lost in failed investments linked to the Kenya Union of Savings and Credit Co-operatives (KUSCCO), marking one of the most significant financial setbacks resulting from the scandal that rocked Kenya’s cooperative sector. The loss was disclosed in Afya Sacco’s consolidated financial report …
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Jubilee Holdings has revealed a record dividend payout of Sh978 million for the 2024 financial year, driven by a strong performance that saw the insurer’s profit before tax reach Sh6.2 billion. At the company’s 87th Annual General Meeting (AGM) in Nairobi, shareholders approved a final dividend of Sh11.50 per share. …
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Ford Motor Company is recalling close to 1.1 million vehicles in the U.S. due to a software malfunction that may prevent rearview cameras from displaying images, posing a heightened risk of accidents. Click here to join our WhatsApp Channel The recall affects select models from 2021 to 2024, including the …
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Safaricom has unveiled plans to invest Sh66 billion over the next three years to develop artificial intelligence (AI) infrastructure throughout East Africa. Click here to join our WhatsApp Channel The initiative will prioritize the enhancement of digital systems, strategic partnerships with both local and global tech firms, and the acceleration …
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The Kenya Electricity Generating Company PLC (KenGen), a government-owned power producer, announced on Wednesday its intention to scale back reliance on hydropower due to its vulnerability to erratic rainfall, aiming to enhance the country’s energy resilience. Click here to join our WhatsApp Channel KenGen CEO Peter Njenga stated that hydropower …
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The National Coffee Cooperative Union (NACCU) is calling on the Ministry of Cooperatives and MSME Development to delay the full implementation of direct payments to coffee farmers until June 2026. In a letter to Cabinet Secretary Wycliffe Oparanya, NACCU Chair Francis Ngone requested a one-year extension, citing challenges with incomplete …
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The National Transport and Safety Authority (NTSA) has instructed all Public Service Vehicle (PSV) operators to eliminate graffiti and unauthorized artistic designs that obscure vehicle identification. Click here to join our WhatsApp Channel According to the authority, these embellishments often hide the names of the SACCOs or companies the vehicles …
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The government has released 200,000 bags of subsidised maize to millers in a bid to stabilise prices and avert a potential shortage, Agriculture Cabinet Secretary Mutahi Kagwe announced. Click here to join our WhatsApp Channel The maize, drawn from the National Strategic Grain Reserve, is being distributed through selected depots …
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Kenya’s agriculture and livestock sectors are facing a major budget deficit in the 2025/26 fiscal year, with Parliament allocating Sh58.2 billion—well below the Sh106 billion requested by the Ministry of Agriculture and Livestock Development. Click here to join our WhatsApp Channel In a report to the National Assembly, the Departmental …
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President William Ruto has announced that the government will set aside KSh500 million in the upcoming financial year to address illegal electricity connections in Nairobi’s informal settlements. Click here to join our WhatsApp Channel These unauthorized connections have been linked to several fire outbreaks that have destroyed homes and caused …
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The Lower Eastern Times Opening The Third Eye