The Competition Authority of Kenya (CAK) has issued a warning to phone retailers who are advertising ‘refurbished’ phones as new, stressing that this practice is illegal. Mugambi Mutegi, CAK’s Manager of Communications and External Relations, stated that such deceptive marketing and unfair business practices violate consumer protection laws. Referencing violations …
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Eleven Kenyan companies have been featured in Africa’s top 500 firms list by The Africa Report and Jeune Afrique, based on their financial performance in 2023. Among the Kenyan firms listed are Safaricom (ranked 62nd), Vivo Energy Kenya (100th), Kenya Airways (114th), TotalEnergies Marketing Kenya (126th), and East African Breweries …
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Harambee Sacco has announced an increase in the interest rate on deposits to a record high of 9% for 2024, compared to 8.5% paid out in 2023, according to national chairman Macloud Malonza. Click here to join our WhatsApp Channel Additionally, the Sacco is proposing a new record interest of …
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Agriculture and Livestock Cabinet Secretary Mutahi Kagwe has instructed all farmers and aggregators to begin delivering their wheat stocks to the National Cereals and Produce Board (NCPB) starting Tuesday morning. Click here to join our WhatsApp Channel This decision by CS Kagwe addresses the wheat crisis where farmers were left …
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This week, Kenya’s foreign exchange reserves decreased by a significant 200 million U.S. dollars, reaching a four-week low, according to the Central Bank of Kenya (CBK) in its weekly financial markets update released on Friday evening. Click here to join our WhatsApp Channel The CBK reported that forex reserves stood …
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The Kenyan government plans to invest over Sh128 billion in the development of the Dongo Kundu and Naivasha Special Economic Zones (SEZs). Click here to join our WhatsApp Channel A lease agreement was signed between the African Export-Import Bank (Afreximbank), the Kenya Ports Authority (KPA), and the Special Economic Zone …
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Kenya has secured $1.5 billion (Sh194 billion) in its latest Eurobond issuance as part of its debt management strategy. Click here to join our WhatsApp Channel The bond, with an interest rate of 9.5%, attracted offers totaling $4.9 billion (Sh633.8 billion) from investors. It will be repaid in three equal …
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The luxury cruise ship MV Norwegian Dawn has arrived at Mombasa Port from Seychelles, carrying 2,220 tourists. At 294 meters in length and a draft of 8.3 meters, the vessel is among the largest ever to dock in Mombasa. Click here to join our WhatsApp Channel The Kenya Ports Authority …
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Wiper Party Leader Kalonzo Musyoka has criticized the Kenya Kwanza administration for not regulating the sale of cheap imported rice, which undermines local farmers by creating unfair competition. Click here to join our WhatsApp Channel Speaking in Ngurubani, Kirinyaga County, on Saturday, Kalonzo stated that President William Ruto’s government has …
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Kenya Airways CEO Allan Kilavuka has called on the government to adopt a strategic approach to address the growing issue of foreign airlines poaching skilled personnel from the airline. He warned that if this trend continues unchecked, Kenya could face a shortage of highly qualified aviation professionals, which would negatively …
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The Lower Eastern Times Opening The Third Eye