KRA bans stripping of containers destined for Zanzibar

The Kenya Revenue Authority (KRA) has banned the stripping of cargo containers at the port of Mombasa before onward conveyance by dhows to various consignees in Zanzibar. The move is meant to curb sea smuggling where cargo is diverted in the ocean, finding its way into the local EAC market. …

National Lands Commission to probe Integrity Centre Ownership

National Lands Commission to probe Integrity Centre Ownership. The firm at the center of the eviction of the Ethics and Anti-Corruption Commission (EACC) has been cast under the spotlight as the National Land commission seeks to investigate ownership of Integrity Centre. NLC says that the government intends to acquire the …

KenGen to switch on 158MW plant next year

Power consumers are set for better times following an announcement by the leading energy generator, Kenya Electricity Generating Company (KenGen), that the 158MW Olkaria V geothermal power plant will be operational next year as scheduled. The power plant is part of KenGen’s ambitious green energy development agenda aimed at delivering …

Hides trader charged with evading Sh204 million export duty

A Nairobi based hides and skins trader has been charged with five counts relating to tax fraud and failure to file tax returns leading to loss of revenue amounting to KSh 204 million. Ms. Claire Marisiana Odimwa is said to have under-declared the weight and measure of wet salted cow …

Moodys ratings sinks Kenyans junk bond ratings

Kenya foreign debt has been rated junk, non-investment grade speculative 11 ranks below the premium triple-A ratings given to America. Moodys downgraded Kenya’s overall ratings to B2 from B1, local debts from B2 to B3 and foreign loans from Ba2 to Ba3. Save for pricing, credit ratings have however diminished …

The Future of Corporate Governance is Good Relationship with Stakeholders

By Beatrice Meso  There is no person who is an island, not even corporate persons. As the Ubuntu philosophy asserts, ‘a person is a person through other people.’ We all depend on relationships to be who we are. Even corporate entities need a relationship, not just with their shareholders, but also their stakeholders …

Corporate Governance summit

The 2018 Corporate Governance Summit themed “good Governance for Good Citizenship” is set to kick off tomorrow at the Safari Park Hotel. Among Keynote speakers lined up for the two-day event are Professor Mervyn King, a corporate governance global guru and former justice of the Supreme Court of South Africa who is …

Two vandals sentenced to 10 years imprisonment each

An Eldoret court has sentenced two suspects to 10 years imprisonment each after they were found guilty of stealing and vandalizing transformers. Wesley Rotich was apprehended at Ngeria area of Uasin Gishu county on 7th June 2016 while vandalizing a 200KVA transformer worth KShs.2.5 million while James Ngondoli was arrested on …

Execution Point Limited sets to reap big from online currency license

The sole trader allowed to operate accounts which Kenyans can use to bet one currency against the other is set to reap a major windfall. Currently, the currency market is witnessing massive volatility, with the dollar losing ground against most currencies including the shilling. It is estimated that the Kenyan …