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Audit links 350 irregularly contracted firms to 18 KP employees

In an audit report ordered by Kenya Power Managing Director Ken Tarus, 350 out 500 contractors were found not to have met the set criteria, leading to the dismissal of 18 Kenya Power staff

Survey shows 70% of Kenyan women will watch World Cup

GeoPoll’s poll of 2,400 respondents in Ghana, Kenya, Nigeria, Senegal, South Africa, and Tanzania also found a big shift in World Cup viewing plans, continent-wide, towards home viewing

Heads roll as fresh maize scandal hits NCPB

Decision to replace Newton Terer as Managing Director came after the Board moved to address an audit report looking into maize purchase and operational issues on the distribution of subsidized fertilizer

Somoina Kimojino named Capital Group MD

While announcing the appointment, Capital Group Board Director, Mary-Ann Musangi, said Kimojino has also been instrumental in managing many partnerships

Carrefour to open food market in Nairobi

Retailer says Village Market store, which will open by year-end, is an approach that allows the retailer to serve customers by offering them a store that caters to their everyday shopping needs.

Safarilink appoints ex-KQ director as CEO

Alex Avedi will take over as the Chief Executive designate of the airline from 1st June 2018 to replace the retiring John Buckley – who co-founded Safarilink 15 years ago

Dar blocks Kenya’s confectionery despite on-going trade talks

Tanzania cites EAC Legal Notice number EAC/70/2017- where Kenya was granted duty remission on raw sugar, at a zero-rated duty for one year to manufacture sugar for industrial use – as justification for its actions

Banks rendered 1,620 workers jobless in 2017

During the same period, 39 branches were closed with Bank of Africa closing the most branches at 12 followed by Eco Bank at 9, Equity Group and Barclays closed 7, while Standard Chartered closed four branches

StanChart gross profit drops 24.2% to Sh10.1b

CEO Lamin Manjang says the dip is attributable to an increase in the non-performing loans portfolio and the financial impact from the interest rate capping law.

Co-op Bank 2017 profits drops to Sh11.4b

Group Managing Director and CEO Gideon Muriuki attributes the drop to a challenging operating environment which included interest rate caps and lower economic growth in an election year