business

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Business

Rai opens a new sugar plant

PHOTO: COURTESY   At least half of the sugar produced in Kenya is now controlled by one man after the billionaire Rai family opened their fourth milling plant in Bungoma. Naitiri Sugar Company which started milling in May is the new addition to the family’s sugar conglomerate that now spans the country. The new plant extends Rai’s position as the leading sugar manufacturer from a combined capacity of his existing […]

todayJuly 21, 2022 264

Business

Expensive fuel looms as IMF drops support for subsidy

  PHOTO: COURTESY   IMF has set a fresh loan condition requiring Kenya to drop fuel subsidy by October, exposing motorists to a sharp rise in pump prices. Kenya has since April last year spent an average of Sh7.65 billion monthly to subsidise diesel, super and kerosene, highlighting the adverse impact of the fuel stabilisation programme on the country’s revenues. The multilateral lender has inserted the removal of the subsidy […]

todayJuly 21, 2022 127

Business

Where Kenya’s super-rich are migrating to for investments

      Wealthy Kenyans are seeking second homes in St Kitts and Nevis, a two-island county in North America. Its education system is better, it is affordable to get citizenship because the investment requirement is fairer than in other countries and it is crypto-friendly hence attractive to technology investors and entrepreneurs. Henley & Partners, a leading international citizenship and residence advisory firm, says in 2022 Kenyans are showing interest […]

todayJuly 21, 2022 15

Business

president Kenyatta halves the cost of maize flour

photo: courtesy   The cost of maize flour, used to make Kenya's staple food, has been cut in half less than three weeks before general elections. The measure aims to deal with the rising cost of living that has seen prices of basic commodities soar. A 2kg (70 oz) packet of maize flour will now retail at KSh100, instead of KSH 200. Critics say Mr Kenyatta is using the measure […]

todayJuly 21, 2022 4

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