Prime News Kenya

Current Business News in Kenya: Banking | Economics

Lenders of Italian firm in dams scandal seek payment

A week after police arrested government officials over the Sh63 billion Arror and Kimwarer dams scandal, a huge row is simmering between broke Italian firm CMC Di Ravenna and its local creditors who have been asked to wait for two years before getting paid.

Senators want KPC probed on oil leakage

The Senate Energy Committee has directed an energy regulatory body to investigate roles played by consultants and a contractor in a faulty pipeline project.

US, Europe scramble for Kenya’s energy billions

A few days to the launch of the Lake Turkana Wind Power plant by President Uhuru Kenyatta, the then UK Secretary of State for International Development Rory Stewart made a quiet tour of the multi-billion shilling project that went largely unreported in the local media.

Sh1.5trn bank loans pile pressure on Treasury

The sharp increase in the Treasury’s borrowing from local banks has exposed the economy to shocks in the financial sector, analysts at global ratings agency Moody’s have warned.

KRA to track traders’ daily sales

The Kenya Revenue Authority (KRA) is set to install new electronic tax registers at business premises giving it real-time access to invoices issued by traders around the country in a new, high-tech war against tax cheats.