Tanzania’s East Africa Foods raises $40m to expand cold chain into Kenya
PIDG’s InfraCo led a $26m Series B inside a ~$40m package for East Africa Foods, which plans Kenya expansion to cut post-harvest losses.
Mbadi meets US Treasury in Bangkok as IMF Article IV mission set for December
Mbadi met US Treasury’s Eric Meyer in Bangkok on Kenya’s stalled IMF programme; an IMF Article IV mission is due in Nairobi in December.
China loan clause leaves Sh45bn in SGR fares idle at KCB
John Mbadi says about Sh44.6bn in SGR fares sits locked in KCB escrow under China Exim Bank terms, forcing tax-funded loan repayments.
KRA misses first-quarter revenue target by Sh58.2 billion
Ordinary revenue hit Sh655.8bn in the quarter to September, up 14.4%, but still Sh58.2bn short of target as income tax and excise lagged.
More than half of job leavers tap pensions early, SanlamAllianz finds
SanlamAllianz finds 53% of Kenyans who left a job withdrew some pension savings early; seven in 10 say they are not on track for retirement.
Microsoft to shut Nairobi engineering centre in global restructuring
Employees at Microsoft’s Nairobi Africa Development Centre were told on Monday that the engineering hub will close as part of a worldwide restructuring.
Shilling holds near 129.75 as 91-day T-bill rate settles at 8.76%
The shilling stayed close to 130 to the dollar and short-term government borrowing rates held steady after the Central Bank of Kenya left its policy rate at 8.75 per cent.
Dangote GDR offer closes Tuesday as minimum buy-in drops to Sh535
The Kenyan window to buy into Nigeria’s Dangote refinery IPO closes at 5pm on Tuesday, October 13, after the minimum order was cut from about Sh107,000 to Sh535.
NSE sheds Sh40bn in a week as foreign investors turn net sellers
The Nairobi bourse lost Sh40.06 billion in value in the week to October 9, its second weekly decline, as foreigners sold in every session.
Tata Chemicals says 1,000 jobs at risk as Magadi shutdown drags on
Tata Chemicals Magadi says more than 500 staff and about 600 contractors are exposed as its soda ash plant stays shut ahead of an October 23 court ruling.
Kenya Airways gets Sh45bn Cabinet lifeline to restore grounded jets
Cabinet has approved $350 million in shareholder financing for Kenya Airways and endorsed a plan to convert Sh122 billion of government loans, but KQ shares did not move.
Motorists brace for October 14 fuel review as 8% VAT relief runs out
EPRA announces pump prices on October 14, the same day the temporary 8% fuel VAT expires. Petrol is at Sh214.03 and diesel Sh217.86 in Nairobi.
