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  • KRA surpasses 2013-14 first half target

    January 14, 2014 8:39 PM 20

    KRA Commissioner General John Njiraini said the authority posted Sh470.8 billion against a target of Sh470.2 billion representing a 23.7 percent growth compared to the previous year, when they collected Sh380.7 billion. Njiraini attributed the performance to a strong VAT growth and enhanced monitoring of Pay As You Earn (PAYE) remittance by County Governments

  • CMC applies brakes on extraordinary meeting

    January 14, 2014 8:37 PM 17

    This follows a request by the Dubai based Al-Futtaim Auto and Machinery Company for an extension of the expiry date for a proposed take-over offer and pending the approval of the request by the Capital Markets Authority. In a statement, CMC said a future date will be communicated subject to grant of regulatory approval. Al-Futtaim made a cash offer for CMC for the purchase

  • Startup Company Uses Drones To Fend Of Poachers

    January 14, 2014 2:39 PM 21

    Drones, for the most part, have been thought of as instruments for spying and war, but they can be used for many different things as well, such as delivery of goods which is what Amazon had in mind, and they can also be used for good as well, which is what a startup company has done when they have designed drones meant to protect endangered animals from poachers

  • KIXP moves to East Africa Data Centre

    January 14, 2014 7:53 AM 20

    The Kenya Internet Exchange Point (KIXP) is to move from its current home of 10 years to the newly opened East Africa Data Centre, allowing for greater internet expansion in the region. According to Liquid Telecom, owners of the data centre that opened in September last year, the KIXP “frees international links from congestion, speeds up data and reduces

  • De La Rue dangles quick returns on currency deal to woo State

    January 13, 2014 9:45 PM 26

    Updated Monday, January 13th 2014 at 22:50 GMT +3 Nairobi, Kenya: British currency printer, De La Rue is wooing the Government with the promise of a quick return on investment to push through a joint venture currency printing agreement. The Government is set to pay Sh713 million (£5 million) for a 40 per cent stake in a joint venture with De La Rue Currency

  • Over regulation stifling firms’ growth in Africa

    January 13, 2014 3:45 PM 16

    According to a survey done by PriceWaterhouseCoopers in 22 countries including Kenya, 75 percent of Chief Executive Officers said there was too many laws that hindered firms’ expansion. Releasing the report in Nairobi on Monday, a tax partner with PWC, Steve Okello, said company heads now want their governments to be flexible as it was not only hard to start

  • Charles Tanui named Kenya Pipeline Company MD

    January 13, 2014 2:29 PM 21

    Tanui who has been holding the position in an acting capacity since May last year, will serve for the next three years. Tanui took over from Selest Kilinda, who was dismissed over allegations of nepotism by influencing the hiring of his two sisters and a brother at the company. Prior to the appointment in an acting capacity in May, Tanui was Chief Manager

  • Kenya Power halts pre-paid meters in towns

    January 11, 2014 12:31 PM 25

    Updated Friday, January 10th 2014 at 21:35 GMT +3 KENYA: Kenya Power is relooking its prepaid metering, with plans to relax the implmenetaion of the programme in urban areas. Kenya Power newly appointed chief executive Ben Chumo said the shift in rolling out the programme is deliberately designed to focus on rural areas where it cost more to engage meter

  • Cloud-computing boosts German software giant SAP

    January 10, 2014 1:33 PM 19

    FRANKFURT, January 10- German software giant SAP said on Friday that cloud-computing boosted sales and earnings in the fourth quarter of 2013 and the year as a whole. Cloud computing is a term used to cover many functions of external and shared resources to provide computer services such as the distant storage of information. According to preliminary

  • IMF's Lagarde: Uncertainty over health of European banks

    January 10, 2014 11:21 AM 27

    International Monetary Fund Managing Director Christine Lagarde said Thursday that questions marks remain over the health of Europe's banks and that coming stress tests are a chance to build confidence in them. In an article published online by Project Syndicate, Lagarde said Europe is "at a key juncture", showing signs of recovery but stuck with "uneven