Kericho Gold receives Sh400 million from World Bank to expand to Malawi

The International Finance Corporation (IFC), a member of the World Bank Group and the Global Agricultural Food Security Program (GAFSP) has offered Global Teas & Commodities Ltd, manufacturer of Kericho Gold and Bahari Chai a loan of ksh 400 million that will facilitate the expansion of Global Tea in Malawi. This will help to boost Macadamia and Coffee production and will be done through planting more macadamia trees, replanting existing coffee plantations and also developing a coffee out-grower program to support 3,300 smallholder farmers. “The company plans to increase packaging…

Western Union Opens Office in Ivory Coast

Western Union has been providing fast, reliable and convenient money transfer services in Ivory Coast since 1995 Western Union a leader in global cross-border, cross-currency money movement, announced today the opening of an office in Ivory Coast, reinforcing the company’s on-going commitment to service excellence by getting even closer to customers. Western Union has been providing fast, reliable and convenient money transfer services in Ivory Coast since 1995, connecting customers to over half a million locations in more than 200 countries and territories. Western Union services are currently available in…

KRA suspends officers in irregular sale of ethanol

The Kenya Revenue Authority (KRA) has suspended three officers alleged to be involved in irregular sale of ethanol marked for destruction, pending further investigations. The officers stationed in Mombasa, allegedly aided the sale of eight containers of ethanol outside the normal KRA auction process. The goods had been gazetted for auction under notice number 4557. The auction was set for 9th August, 2016. However, verification by stakeholders showed that the containers had been imported and concealed as diethylene glycol monobutyl ether. Upon verification, they were not auctioned on the basis…

Kenya Power losses 500 M on vandalism, illegal connections says Tarus

By Jacktone Lawi Kenya Power is now seeking harsher penalties for people involved in vandalism of transformers. The electricity distributor pointed out that is losing hundreds of millions in revenue from vandalism of its transformers, meter tempering and power theft through illegal connection and called for stiffer actions to deal with perpetrators of such crimes. According to the Company’s Managing Director and Chief Executive Officer Dr. Ken Tarus the firm losses about half a billion from to these vices. “We are losing KShs 500 million in revenue to vandalism and…