Author: Muindi

National Treasury’s 18-year Infrastructure bond received bids valued at Ksh.76.4 billion and was oversubscribed at 101.8 percent, the Central Bank of Kenya reported on Wednesday. Treasury received Ksh.73.8 billion from the sale whose auction ended on Tuesday against a target of Ksh 75 billion. The weighted average rate of accepted yields stood at a high of 13.742 percent. The bond will be fully redeemed on 21st May 2040, with the first interest payment scheduled for 12th December 2023. “Notably, the CBK has in recent auctions been trying to manage th cost of borrowing by keeping. However, given the magnitude of…

Fibre Directorate says cotton production in Kenya declined by 59 percent year-on-year to 2,527 lint bales worth Ksh 82 million in 2021, a decline from 6,196 bales worth Ksh 1.76 million dollars in 2020. The Directorate noted that this was largely attributed to farmers lacking access to genetically modified Bacillus Thuringiensis (BT) seeds imported mainly from India. “Getting seeds was a major challenge during the period under review especially due to the fact that the Bt seeds have to be imported into the country from India, and undergo germination test before distribution. In most cases, the seeds reached the farmers…

Pwani oil announced on Monday it would temporarily shut its Kilifi plant, a decision that has been compounded by “challenges faced in accessing dollars”. Pwani Oil, the manufacturer of Freshfri, Salit, and Fry Mate cooking oils, said the decision was based on a shortage of raw materials which it blamed on difficulties accessing dollars to pay suppliers on time. “Given the prevailing challenges, Pwani Oil has temporarily halted operations at its refinery in Kilifi as we work to resolve the problem. We however wish to assure our customers, employees, suppliers, partners, and other stakeholders that this is a temporary measure…

Gathoni is the first female professional gamer from Kenya

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