Business Daily Africa

Caged Bird is the title of Mavin Kibicho's play which was staged last weekend at Nairobi Cinema.

As it turns out, it is Joan who was sneaky and seriously desperate enough to take information off of Amy’s phone about her friend Alexus and somehow manipulate the system to obtain the funds it seems she needed. But Caged Bird was not a play meant for nonbelievers. Still, I had to wonder how Alexus couldn’t have donated Sh10,000 to Amy which is what she required to pay the rent. Naturally, from that point on, things began to change. At the top of the list should have been poverty, but that was never mentioned outright in the play. In fact, this play presents a virtual laundry list of problems confronting not just a few but many Kenyans today.

The Court of Appeal has declined to suspend the hearing of a case filed by the anti-graft body seeking the repossession of Sh500 million land on Valley ...

Mr Kuria wanted the case suspended pending the determination of his appeal. The EACC had also asked the court to compel Ms Kuria to deposit the money she collects from the car bazaar in court pending the outcome of the case, but the application was declined. She also said she has been in possession of the land for more than 30 years and plans by EACC to recover the land had been overtaken by time.

The Nairobi Securities Exchange (NSE) has received regulatory approval for the extension of the term of its chairman Kiprono Kittony.

[By CHARLES MWANIKI](/bd/markets/capital-markets/diageo-eabl-offer-oversubscribed-in-first-phase-4148232) [By EDWIN MUTAI](/bd/economy/how-debt-ceiling-policy-shift-is-affecting-kenya-budget-making--4148174) [By GERALD ANDAE](/bd/markets/commodities/twiga-leads-private-firms-queue-at-galana-kulalu--4148370)

Kenya Pipeline Company Ltd (KPC) has been spared the agony of paying more than Sh60 million.

The High Court had directed the costs of restoring the land and trespass to be borne by the contractor and KPC. He also accused the contractor of parking heavy construction machinery on his property. [By DOMINIC OMONDI](/bd/economy/kra-to-tax-small-traders-per-product--4148448) The parcels are separated by a road and the works were completed in 1990. [By EDWIN MUTAI](/bd/economy/how-debt-ceiling-policy-shift-is-affecting-kenya-budget-making--4148174) Engineering Company ltd- who was independent of KPC, even though the houses were for the latter.

March's infrastructure bond (IFB) whose auction closes on Tuesday is set to be oversubscribed.

[By CHARLES MWANIKI](/bd/markets/capital-markets/diageo-eabl-offer-oversubscribed-in-first-phase-4148232) “From the performance of recent Treasury bond and bills issues, investors’ bidding trends have shown a risk versus duration mismatch. “We expect the issue to be oversubscribed due to the tax-free nature of IFB issues and the high yields currently being offered by government papers.

Global economists see a faster rise in Kenya's average cost of living measure for 2023 than earlier projected.

[By CHARLES MWANIKI](/bd/markets/capital-markets/diageo-eabl-offer-oversubscribed-in-first-phase-4148232) [By DOMINIC OMONDI](/bd/economy/kra-to-tax-small-traders-per-product--4148448) [By EDWIN MUTAI](/bd/economy/how-debt-ceiling-policy-shift-is-affecting-kenya-budget-making--4148174)

The taxman plans to start opening containers to compute taxes item by item.

[By CHARLES MWANIKI](/bd/markets/capital-markets/diageo-eabl-offer-oversubscribed-in-first-phase-4148232) “KRA further applies minimum test yields in the assessment of imports to avoid unfair competition and forestall tax evasion. [By EDWIN MUTAI](/bd/economy/how-debt-ceiling-policy-shift-is-affecting-kenya-budget-making--4148174)

Five local banks have been picked to issue letters of credit of up to Sh614.89 billion ($4.8 billion) for fuel that Kenya will import on credit from the ...

It offers comfort to the supplier of the goods. Banks charge fees to issue such guarantees and may also take security to cut their exposure. [Kenya will import UAE oil on credit to ease dollar woes](https://www.businessdailyafrica.com/bd/markets/commodities/kenya-will-import-uae-oil-on-credit-to-ease-dollar-woes--4142616) The deal that will see Kenya import diesel, super and jet fuel on a credit of 180 days is aimed at propping the shilling against the dollar. The six banks will issue letters of credit to the oil marketer (s) that will be picked by the government to enter into an import deal with oil dealers from the United Arab Emirates. Five local banks have been picked to issue letters of credit of up to Sh614.89 billion ($4.8 billion) for fuel that Kenya will import on credit from the United Arab Emirates over a nine-month period.

The seventh edition of the Connected Banking Summit - East Africa kicks off on Tuesday in Nairobi.

[By DOMINIC OMONDI](/bd/economy/kra-to-tax-small-traders-per-product--4148448) [By EDWIN MUTAI](/bd/economy/how-debt-ceiling-policy-shift-is-affecting-kenya-budget-making--4148174) The summit is sponsored by among other technology industries; Huawei Technologies Kenya Limited, Absa Bank Kenya Plc, Cyber1 Solutions, and Technology Fund Africa Ltd.

Kenyans may be paying up to 30 times more for everyday medicines.

In such a system, bidders are only allowed to lower their prices but not to increase them - hence the term ‘reverse auction’. All registered qualified suppliers would be invited to bid in real-time through an online platform. The recent Kemsa scandals attest to this. There are however a number of factors that could hinder the growth of the pharmaceutical manufacturing sector in Kenya and interventions will need to be put in place to address these. Kenyans may be paying up to 30 times more for everyday medicines. It has prioritised reforms and interventions in the healthcare sector, including with respect to the procurement of medical supplies and ramping up of local manufacturing of pharmaceutical products.

The William Ruto administration has started handing out parts of Kenya's multi-billion food security project to private investors.

“It will be mandatory for a firm to plant the basic food, which is maize. “NIA will now play a supervisory role by ensuring that everything is moving on as planned. The project has also attracted interest from firms in the US and Qatar. They will not only help us in achieving food security but also create employment,” said Mr Mugambi. All firms that have applied for leasing at Galana will have to grow maize as a mandatory crop for one season, then they would be allowed to plant other crops in subsequent seasons for the remainder of the year. Twiga, which has operated large farms mainly in Taita Taveta County, wants to develop part of the Galana farm after the government announced in January that it will be opening the mega irrigation scheme to private investors.

British multinational Diageo's offer to buy an extra 14.97 percent stake in East African Breweries Plc (EABL) has been oversubscribed.

The remaining 41.08 million shares in the pool will remain available to satisfy all tenders received from the final acceptance shareholders up to a maximum of 10,000 ordinary shares each,” said Diageo. “As of the first closing, 1,480 early acceptance shareholders tendered a total of 122.018 million ordinary shares. Therefore, Diageo Kenya will apply the pro-rata scale-down mechanism specified in the tender offer document,” said Diageo on Monday. [By CHARLES MWANIKI](/bd/markets/capital-markets/diageo-eabl-offer-oversubscribed-in-first-phase-4148232) [Diageo ready to access additional EABL shares in open market](https://www.businessdailyafrica.com/bd/corporate/companies/diageo-ready-to-buy-eabl-shares-in-open-market--4141064) Diageo succeeds in raising EABL stake to 65 percent [Companies](/bd/corporate/companies)