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Sunday, September 25, 2022
Coffee

Coffee revenue up by Sh10 billion on good harvest, prices

Coffee earnings from October last year to August 2022 jumped by Kes9.8 billion to Kes25.2 billion on account of improved local yields and favorable prices in the global market after world-leading producer Brazil suffered production setbacks due to harsh weather. In the review period, the latest data shows the Nairobi Coffee Exchange (NCE) handled 575,543 bags of green beans, a 52 percent increase from...
KCB Group

KCB woos oil importers in Sh120 billion financing deal

KCB Bank Kenya is planning to inject over Kes120 billion to support Oil Marketing Companies (OMCs) importing fuel as the regional lender seeks to consolidate its support to the energy industry. The Bank has been facilitating oil imports into Kenya by financing the oil firms under its portfolio that have won business under the Open Tender System (OTS) through the Ministry of Petroleum and...
KRA

Inflation adjustment by KRA is simply a double tax on consumers

Inflation is considered a hidden tax in that the same paycheck covers fewer goods, services, and bills leaving taxpayers less well-off due to higher costs while increasing the government’s spending power. Inflation increases the amount of money a government collects as taxes, for instance, 16 percent Value Added Tax (VAT) on a bottle of beer that ordinarily costs Kes100 is higher than if the...
Ruto

Kenya on course to a plastic-free environment — President Ruto

President William Ruto has pledged to end plastic pollution in Kenya, which has for the longest time posed a major threat to humans and the environment. During his inaugural speech at the United Nations General Assembly (UNGA) in New York on Wednesday, Dr Ruto said Kenya is ready to work with other nations to achieve the goal. "Kenya is committed to...
Kakuzi

Green gold: Kakuzi’s second Avocado shipment leaves for China market

Fruit exporter Kakuzi Plc has secured pre-shipment approvals from the Kenya Plant Health Inspectorate Service (KEPHIS) for its second fresh avocado shipment to China. The Nairobi Securities Exchange-listed company will be shipping several 20-foot container loads to China by sea before the end of this week as demand for quality Kenyan avocado fresh fruits grows in the South Asian market of 1.4 billion people.
Fertilizer

Ministry releases Sh3.5 billion for subsidy fertilizer as planting season starts

Farmers across Kenya will start buying subsidized fertilizer next week at Kes3,500 per 50Kg bag down from Kes6,500 as the planting season for the short rains starts. The move follows the release of Kes3.5 billion by the Ministry of Agriculture that will make available 1.4 million bags of fertilizer to millions of farmers. The National Cereal and Produce Board has been...

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BUSINESS AND MONEY

Inflation

Beer, juice, water prices are all but certain to rise starting October

As consumers barely come to terms with the impact of the fuel hikes implemented by the energy regulator this week, the taxman...
Cooking gas

Kenyans quit cooking gas in droves on steep costs

Sky-high prices of cooking gas especially in the wake of Russia-Ukraine war have seen a high number of Kenyans dump use of...

JOBS

Number of M-PESA agents double during Covid-19 pandemic

The number of Safaricom M-PESA agents doubled last year at a time when Kenyans were seeking side hustles and odd jobs to...

Meals, drinks riding businesses to profits

This Christmas, when you order your favourite meal and a bottle of Coca-Cola on Glovo or Uber eats, a boda boda rider...

Civil servants ordered to get Covid-19 shot by August 23

All civil servants have two weeks to get Covid-19 shot, failure to which they will face disciplinary actions. Head...

Ruto offers to cut unga, fertilizer prices next week

Kenyans are now looking forward to starting to enjoy a reduced price of maize floor (Unga) as well as that of fertilizer,...

OTHER NEWS

NSSF, Safaricom tie up M-PESA deal to shore up retirement savings

Millions of Kenyans can now funnel their retirement savings to the National Social Savings Fund (NSSF) via M-PESA Super App.

Students reaping a fortune from the Kibera plastic menace

During this year’s Madaraka Day celebrations, two students from Langata Secondary School, just like their peers, enjoyed a sumptuous meal; afterward, the school’s compound...

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