Author: David Indeje

S&P Global Ratings has downgraded Kenya’s outlook from stable to negative over high debt that could be worsened by the Covid-19 pandemic. However, it affirmed Kenya’s ratings at ‘B+/B’. “The Covid-19 pandemic will slow Kenya’s GDP growth significantly in 2020 and weigh on its already weak public finances,” S&P Global said. “The ratings could also come under downward pressure if the ultimate economic fallout from the pandemic and weaker policy momentum derailed Kenya’s efforts to curb its twin fiscal and external deficits, pushing external debt up, and/or weakening external liquidity beyond our current projections.” The firm says “Although external financial…

The price of Super Petrol, Diesel and Kerosene will increase by KSh11.38, KSh17.30 and KSh2.98 per litre respectively as from July 15 according to the latest review by Energy and Petroleum Regulatory Authority (EPRA). Super Petrol will now retail at Ksh100.48 in Nairobi, Diesel at Ksh91.87 and Kerosene at Ksh65.45.  In Mombasa, the prices will be relatively lower at Ksh98.11 for Super Petrol, Ksh89.50 for Diesel and Ksh63.09 for Kerosene. In June, the marginal rise was a result of the recovery in crude oil globally. Year-on-year, petrol, diesel and kerosene prices fell by 22.23 percent, 28.34 percent and 39.49 percent…

Nairobi Securities Exchange has appointed Kiprono Kittony as the board chair effective immediately replacing Samuel Kimani who resigned Monday. Kimani has served as the chairman of the NSE board since 2012. He will remain on the board as an independent non-independent director for one more year. “After a thorough process, the board of directors has appointed Kittony as the next chairman of the NSE,” NSE announced. At the same time, NSE said Bob Karina will continue to serve as the Vice-Chairman of the Board for the next year. Kittony thanked the board for having elected him to the position of…

Cold Solutions Kenya Limited has invested KSh7.5 billion to construct state-of-the-art, temperature-controlled cold storage warehouses in the country. The firm will construct Cold Solution flagship facility in Tatu City Special Economic Zone in Nairobi, with other facilities located in Mombasa. The 15,000 square meters grade ‘A’ cold storage complex will span across six acres at Tatu City and will be the country’s largest, most advanced and efficient in the region. The facility is expected to be operational in 12 to 18 months. It has been flexibly designed to cater to numerous temperature ranges from +26 to -40 degrees Celsius and…

Genghis Capital, an investment and stock brokerage firm advises TransCentury Plc shareholders to seek more clarity before it delists from the Nairobi Securities Exchange. According to Genghis, the Infrastructure Company since its listing by introduction 9 years ago ‘has been a disappointment to investors (listing price Ksh 50, latest pre-announcement price Ksh 1.61) despite its industrial-heavy portfolio of investments in Power, Infrastructure Projects and Engineering across 14 countries in East, Central and Southern Africa.” In a notice, last week, TransCenturytold its shareholders it was seeking to delist from the NSE in order to meet precondition for accessing new capital from…

Ogutu was recognised for championing gender equality in the energy sector Kenya’s Ogutu Okudo Founder and CEO of Women in Energy & Extractives Africa  (WIOGEA) is the 2020 recipient of the Emerging Leader Award by Global Energy Show. The announcement was made at the Global Energy Show Awards that serve to celebrate leaders who drive change and shine a spotlight on excellence. Ogutu was honoured for being a Focus Area Champion for gender equality in the energy sector, as well as for helping to provide 1 million people in rural communities across Africa and Asia with affordable, sustainable off-grid solutions. …