Business

Kebs suspends licenses of 369 water bottling firms

The Kenya Bureau of Standards (Kebs) has suspended the licenses of 369 water-bottling companies for non-compliance with quality standards. KEBS CEO Charles Ongwae warned other water bottlers that they risk losing their licenses if they fail to meet the set standards. The move follows the rise of counterfeit substandard bottled water products that pose a risk to human health. According to Kebs, there are 600 registered water-bottling firms in the

Lenders in need of bail-out cash given strict Central Bank rules

The Central Bank has set tough conditions for the money it has offered to bail out banks facing liquidity pressures as a result of Chase Bank’s closure last week. The interest-free cash, which will be extended for between seven days to four weeks, will only be given to banks facing pressures that are not of their making. “This is not a loan, credit or a bailout. It is interest-free but

Pork Producer: Hope the good reputation gives some extra pennies per. kg

Kaj Munck was visited by an American writer. Now he landed on the front page of the great American newspaper New York Times. “Every time I google ‘the difference between American and Danish pork your name pops up’. Who are you?” These were the words on the phone when the American author Barry Estabrook in the fall called Kaj Munck, a pig farmer from Bøgekærgård at Faxe in southern Zealand.

See the list: Several of the world’s largest oil states threatened by bankruptcy

Several of the world’s largest oil states are threatened by bankruptcy, if the oil price continues to fall as it has done in recent years. The world’s largest oil exporter Saudi Arabia is already in danger of going bankrupt over the next five years due to the significantly lower oil prices, writes several international media. The wealthy kingdom is far from the only oil state, which risks throwing its population

Strike notice: Bus, truck owners tell drivers to respect the September 30 deadline

Cargo and commuter bus owners have told drivers refusing terms provided by their employers to return the vehicles instead of pushing for a strike. Speaking at a press conference in Dar es Salaam yesterday, the owners said that there is no cause for drivers to strike because their claims were being solved. “Drivers were demanding a work contract between them and their employers which has largely been solved, while other

Tanzania loses half cereals it grows annually

Tanzania loses nearly half of its production of cereals every year due to poor storage, lack of harvesting skills and processing facilities, prompting agricultural experts into calling for urgent measures to save the poverty-stricken nation from hunger. Deputy Permanent Secretary at the Ministry of Agriculture Food Security and Cooperative Raphael Daluti said it is estimated that more than 40 percent of the annual national production of crops is lost or

Tanzanian brewer wins global acclaim

Serengeti Breweries Limited (SBL) has been awarded the International High Quality Trophy 2015 and the Crystal Prestige Trophy 2015 by the Brussels-based International Institute for Quality Selections. SBL’s products, the Serengeti Premium Larger was also awarded Gold Medal 2015, by the same institute. “It is a non-competitive award open to food and drink products.  Consumer products are tasted and tested in order to grant them a quality label,” detailed SBL’s

Kenya Power signs energy purchase deals for 76MW

Electricity distributor Kenya Power has entered into power purchase agreements with two firms. The deals will see Akiira Geothermal Limited supply 70 megawatts and Kleen Energy Limited generate 6 megawatts. The agreement inked on Thursday brings to 45 the number of firms that have entered into deals with Kenya Power to generate electricity as the government’s plan of producing 5,000 megawatts by 2017 continues to gather steam. So far, 25

Barclays unveils Sh30bn credit line for SMEs

Small and medium enterprises would soon have easier access to credit as more banks pledge financing commitments to the business segment. Barclays Bank of Kenya has stepped in with a Sh30 billion loans commitment to SMEs. Barclays Managing Director Jeremy Awori said the bank would continue to support the sector as part of its plan to help in accelerating economic growth and providing market-specific products. “Given that this sector contributes

KLM deal flying Kenya Airways into losses, Senate team told

The partnership between Kenya Airways and KLM has plunged the entities into losses in the last three years, a Senate inquiry was told yesterday. Kenya Airways CEO Mbuvi Ngunze said that the deal has not been making any money for the national carrier due to a drop in the number of travellers in the shared routes. The partnership has come under scrutiny following the Sh26 billion loss suffered by Kenya