•Thursday, October 05, 2006
due to reduction in world oil prices from around 78.40 usd per barrel in july to an average of 60usd per barrel currently, kenyan oil companies are under increased pressure to reduce petrol prices. motorists and government alike have put these oil monoliths under pressure to reduce prices from the exorbitant kshs 86 to less than kshs 70. finance minister amos kimunya has threatened to use his powers to control petrol prices. oil companies are in the habit of effecting petrol increases the minute it’s announced that world crude oil prices are on the increase. However, they do not reciprocate this rush when crude oil prices are on the decline insisting that they have to clear their old stock which they bought at high prices.
the ongoing internet cutthroat competition has seen telkom reduce its kenstream data network costs by 50%. kenstream’s major competitor is kenya data networks which is playing a major role in pushing for an alternative to eassy submarine cable wholly financed by kenyan private companies.
telkom has also launched a fixed wireless connection which requires one to have a cdma enabled phone with a ‘ruim’ card slot. the wireless line is retailing at kshs 1000. however they are charging an internet browsing fee of 3shs per minute compared to flashcom’s 2.50 shs per minute and popote wireless’ 1.00shs per minute. it’s main advantage is that it integrates with existing telkom lines and charges to landlines are the same like for landline to landline calls.
kenya commercial bank has reduced interest rates for both its business and personal loans. with effect from october 1, kcb customers will be paying between two and five per cent less on business loans. rates for personal loans also dropped by between one and five per cent. for instance, business loans repayable within three years which were charged 20% have dropped to 15% while sme loans go down from 21% to 18%. most banks are now reaching out to retail investors with an aggressive marketing for their loan products. a major factor is the fact that the lucrative government instruments interest rates have remained at less than 7.5%. this is as a result in the government cutting its domestic borrowing requirements choosing to finance its budget from increased tax revenue.
celtel is doing its best to solidify its africa market by introducing seamless one network mobile telephony. its now possible to use your celtel phone across kenya, tanzania and uganda, take incoming calls free, make calls at local rates and top up with local airtime cards for both its prepaid and postpaid customers. celtel recently launched a shs40 lowest denomination scratchcard in response to safaricom’s bamba50. we eagerly await who will launch the 20 bob ‘bao bao’ card!
kenya airport authority has begun the kshs 10billion first-phase modernization project which will make nairobi a major international hub for africa. the modernization programme includes an ultra modern new terminal big enough for boeing 787 dream liner, new capacity and space that will enable direct flights to us, latin america and australia and walkway corridors separating arrivals from departures. the project is being handled by a chinese firm wu yi. the upgrade will raise jkia to the standards demanded by us authorities for planes to fly directly from nairobi to american airports. once complete the airport will be elevated to category one status of the international civil aviation organization which would allow direct flights to any destination in the world.
the first phase funded by kenya airports authority and world bank includes putting up a new apron, taxiways and an extended fuel hydrant system. it is expected to be complete by june 2007.
in the second phase which will start in february 2007 and last for 18 months, a unit will be added and a ultra modern car park to accommodate 1,500 vehicles built.
the final stage starting in march 2007 will involve of units one to three and international arrivals, and construction of two in-fills.
there are also plans to elevate kisumu and malindi airports to international status while wilson, isiolo and wajir airports will also be expanded. during the opening ceremony, kaa paid the government shs100m as dividend.
national carrier kenya airways is expected to launch several routes this month. in addition to the paris, france route, kq is expected to fly twice every week to brazaville, capital of the republic of congo (not democratic republic of congo, formerly known as zaire) and the city of cotonou in benin. the airline will cover 30 cities in africa and cotonou is the 11th city in west africa where kq will be flying. kq will also launch flights too the indian ocean islands of mayotte and comoros in december.
the ongoing internet cutthroat competition has seen telkom reduce its kenstream data network costs by 50%. kenstream’s major competitor is kenya data networks which is playing a major role in pushing for an alternative to eassy submarine cable wholly financed by kenyan private companies.
telkom has also launched a fixed wireless connection which requires one to have a cdma enabled phone with a ‘ruim’ card slot. the wireless line is retailing at kshs 1000. however they are charging an internet browsing fee of 3shs per minute compared to flashcom’s 2.50 shs per minute and popote wireless’ 1.00shs per minute. it’s main advantage is that it integrates with existing telkom lines and charges to landlines are the same like for landline to landline calls.
kenya commercial bank has reduced interest rates for both its business and personal loans. with effect from october 1, kcb customers will be paying between two and five per cent less on business loans. rates for personal loans also dropped by between one and five per cent. for instance, business loans repayable within three years which were charged 20% have dropped to 15% while sme loans go down from 21% to 18%. most banks are now reaching out to retail investors with an aggressive marketing for their loan products. a major factor is the fact that the lucrative government instruments interest rates have remained at less than 7.5%. this is as a result in the government cutting its domestic borrowing requirements choosing to finance its budget from increased tax revenue.
celtel is doing its best to solidify its africa market by introducing seamless one network mobile telephony. its now possible to use your celtel phone across kenya, tanzania and uganda, take incoming calls free, make calls at local rates and top up with local airtime cards for both its prepaid and postpaid customers. celtel recently launched a shs40 lowest denomination scratchcard in response to safaricom’s bamba50. we eagerly await who will launch the 20 bob ‘bao bao’ card!
kenya airport authority has begun the kshs 10billion first-phase modernization project which will make nairobi a major international hub for africa. the modernization programme includes an ultra modern new terminal big enough for boeing 787 dream liner, new capacity and space that will enable direct flights to us, latin america and australia and walkway corridors separating arrivals from departures. the project is being handled by a chinese firm wu yi. the upgrade will raise jkia to the standards demanded by us authorities for planes to fly directly from nairobi to american airports. once complete the airport will be elevated to category one status of the international civil aviation organization which would allow direct flights to any destination in the world.
the first phase funded by kenya airports authority and world bank includes putting up a new apron, taxiways and an extended fuel hydrant system. it is expected to be complete by june 2007.
in the second phase which will start in february 2007 and last for 18 months, a unit will be added and a ultra modern car park to accommodate 1,500 vehicles built.
the final stage starting in march 2007 will involve of units one to three and international arrivals, and construction of two in-fills.
there are also plans to elevate kisumu and malindi airports to international status while wilson, isiolo and wajir airports will also be expanded. during the opening ceremony, kaa paid the government shs100m as dividend.
national carrier kenya airways is expected to launch several routes this month. in addition to the paris, france route, kq is expected to fly twice every week to brazaville, capital of the republic of congo (not democratic republic of congo, formerly known as zaire) and the city of cotonou in benin. the airline will cover 30 cities in africa and cotonou is the 11th city in west africa where kq will be flying. kq will also launch flights too the indian ocean islands of mayotte and comoros in december.
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