The Capital Markets Authority (CMA) has fined Nairobi businessman Mr. Rodrick Muhoro KSh 208 Million and banned him from the industry for 10 years following the conclusion of investigations with respect to the allegation of irregular trading of Government Securities in 2016 and 2017. “The authority has imposed a financial penalty of Kshs 208 Million being twice the amount of benefit Mr. Muhoro received from irregular trading and banned him from conducting bonds trading for a period of 10 years,” CMA announced in a statement. The Authority will refer the matter to the Director of Public Prosecution for consideration of…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Fuel Prices have increased further in new monthly rates announced by the Energy and Petroleum Regulatory Authority (EPRA). Super petrol will retail for KSh 5.43 more starting Wednesday, while those of diesel and kerosene have increased by KSh2.24 and KSh2.40 respectively. “The changes in this month’s prices have been as a consequence of the average landed cost of imported super petrol, diesel and kerosene. Super petrol rose by 11.39% from $620.54 to $691.25, diesel by 2.75% from $624.25 to $641.51 and kerosene by 2% from $662.55 to $675.55. The pump prices are inclusive of 8% Value Added Tax (VAT) in…
Internet of Good Things provides access to life-saving and life-enhancing information, free of data charges by Safaricom. UNICEF and Safaricom have launched the Internet of Good Things in Kenya – a set of information and resources which promotes living better and healthier. Internet of Good Things is a UNICEF-led initiative, currently accessible in over 60 countries and territories around the world, and helping to bridge the digital divide and build knowledge societies. Internet of Good Things as a platform hosts mobile-packaged content from UNICEF and its partners, designed to make life-saving and life-improving information available at no cost – even…
The Nairobi Security Exchange (NSE) on Tuesday admitted Homeboyz Entertainment Limited onto the Ibuka Program. The company became the first Kenyan entertainment company to join the program. “Today marks an important milestone for Homeboyz Entertainment Limited. As the region’s most influential entertainment company, the Ibuka program will play a significant role in inspiring your next phase of growth,” said Odundo Geoffrey, NSE chief executive. Ibuka is an incubation and acceleration program designed by NSE in 2016 for aspirational companies with growth prospects. Nine firms have been admitted since it was launched in December, including APT Commodities, Globetrotter Agency Limited, Moad…
Global rating firm Standard and Poors (S&P) has given Kenya’s proposed dollar-denominated Eurobond ‘B+’ long-term issue rating. “The amount and interest rate, among other details of the bond, will be determined during the placement,” said S&P. In March, the firm affirmed its ‘B+/B’ long- and short-term foreign and local currency sovereign credit ratings on Kenya. “The outlook is stable,” said. Fitch assigned the country a rating ‘B+’, which has a Stable Outlook. Last week, the National Treasury began a roadshow for its dual-tranche Eurobond (12- and 31-year paper) to raise Ksh250 billion targeting investors in Europe and the United States. JP…
Former IPOA chairman Macharia Njeru, a Senior Advocate of the High Court of Kenya has been appointed to serve as a member of the Judicial Service Commission. President Uhuru Kenyatta appointed Njeru in a Special Gazette Notice for a period of five years with effect from 13 May 2019. Njeru emerged the winner in the Law Society of Kenya’s (LSK) male representative to the JSC elections with 2,738 votes. His opponents, Prof. Tom Ojienda came in second with 2,545 votes. Charles Mong’are Ongoto got 123 votes. Njeru is a Notary Public, Commissioner for Oaths and a Certified Public Secretary. He…