Author: Muindi

Nicholas Mwendwa retained the Football Kenya Federation chairmanship after he garnered  77 votes during the FKF national elections held Saturday at Safari Park, Nairobi. His closest challenger Lordvick Aduda got five votes. Herbert Mwachiro garnered three votes while Bonface Osano and Daniel Mule didn’t get a single vote. “77 votes. 7 is the number of completeness and perfection…symbolizing everything positive and valuable. 77 is complete completeness! Mwendwa Tweeted Sunday. “…This clearly shows that the delegates have more confidence in me, better than they did four years ago.” In 2016, he won by 54 votes out of the 78 cast defeating…

TransCentury PLC has been given additional time to publish its 2019 full-year report by the Capital Markets Authority (CMA). The infrastructure firm was to publish its results no later than 30 September 2020. However, CMA says it has to do so by December 30, 2020. In a statement released on Saturday, TransCentury said it had negotiated with, and received approval from the CMA to file and publish its results by year-end. The troubled firm, says its fundraising and currently negotiating a transaction that will boost its liquidity as outlined in its Ahidi 2018-2022 strategy plan. The plan’s objective is to…

Tax collections for the first quarter of the 2020/21 fiscal year fell almost 15% to Ksh.317.7 billion against the previous year’s Ksh.151 billion. This largely attributed to the COVID-19 pandemic which hit on various tax heads including excise duty and income taxes according to the National Treasury statement on actual revenues and net exchequer issues as of September 30, 2020. From the data, Kenya Revenue Authority (KRA) in September collections declined 14.2 percent equivalent to Ksh.129.6 billion from Ksh.151 billion in September 2019. Non-tax revenue collections doubled in the period to Ksh.24.9 billion from Ksh.12 billion last year. Cumulatively, ordinary…

Shanta Gold Ltd (LON: SHG) says its West Kenya project has an average annual production of 105,000 ounces forecast over nine-years according to an independent Scoping Study. The West Kenya Project is made up of two greenfield deposits, the Isulu and Bushiangala Prospects and the company says the study which is still at an early stage estimation of the project, will still require a pre-feasibility and bankable feasibility study before construction approval, a process that could take up to three years, according to Shanta Gold CEO, Eric Zurrin. “The board is committed to making the investment to confirm the viability…

KCB Group has received KSh16.2billion ($150 million), from the International Finance Corporation (IFC) to support the growth of the Bank’s sustainable climate finance portfolio and scale-up lending to micro, small and medium enterprises. “The facility is aligned with our green financing goals, will enable us to expand our financing to SME and special market segments like women and youth-owned enterprises that are critical to the growth of the economy, but are facing acute financing gap,” KCB Group Chief Executive Officer and Managing Director Joshua Oigara said. “It complements Government’s effort, through the MSME guarantee scheme, to avail funding to this…

Kenya Airways (KQ) and Delta Air Lines have expanded their current codeshare agreement further strengthening their existing interline partnership enabling frequent fliers of both airlines to earn points when travelling on each other’s networks and other benefits. This adds 3 more points in the USA ahead of the resumption of its flights to New York on 31 st October 2020.  “The one-stop service via New York into North America is critical especially in the current environment as Kenya Airways continues to focus on offering safe travel by reducing the amount of connections needed by passengers connecting to and from Africa,”…