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CCK accuses Safaricom of promoting monopolistic market practices
The Communications Commission of Kenya has accused Safaricom of advocating for a monopoly and killing smaller mobile players through its push for higher call termination rates.The regulator says Safaricom's call for a stop in any further reduction of Mobile Termination rates has nothing to do with protecting investments but to have a reason to highly price its tariffs for other networks and thus force consumers to stay on its network.CCK said ...
Heavy dollar demand pushes down shilling
The Kenya shilling fell against the dollar yesterday pushed down by heavy demand for the US currency worldwide as investors spooked by a political crisis in Greece that threatens its future in the euro zone seek out the safest assets. At 0902 GMT, commercial banks quoted the shilling at 84.50/70 against the dollar, 0.7 percent weaker than Tuesday's close of 83.90/84.10. It reversed the previous day's gains, made when the Central Bank intervene...
CMA approves listing of CIC shares at bourse
THE Capital Markets Authority has approved the listing to CIC Insurance Group shares at the Nairobi Securities Exchange by introduction. The firm previously intended to list through an initial public offer but opted for listing by introduction citing negative performance of the stock market for the better part of last year. Last year, CIC shareholders resolved to increase the insurer’s share capital to Sh3 billion from Sh1.2 billio...
Virgin Atlantic out of Nairobi-London route
Banker’s association unveils research unit
The Kenya Bankers Association has set up a special unit for industry research and policy. The Centre for Research on Financial Markets and Policy headed by Dr Jacob Oduor will offer diverse resources to banking sector professionals including macroeconomic reports, issues and policy analysis, as well as sponsored research. Other research fellows in the unit are Lydia Mbura and Francis Ogula. “Through these activities the C...
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