Business highlights June 16 2017

Power bills set to fall with the commissioning of the new Isinya substation

Electricity bills are likely to dip slightly with commissioning of the new Isinya substation set for July, Kenya Power and Lighting Company (KPLC) has said.

The new substation is expected to enable the power distributor to evacuated geothermal power from Naivasha to Mombasa.

Last month, the 400kV Susawa-Isinya transmission line was completed and will be commissioned by the end of this month by President Uhuru Kenyatta.

Over the last few months, the cost of electricity has risen, a phenomenon that KPLC acting chief executive officer (CEO) Ken Tarus, has attributed to the recent pro-longed drought which resulted into low water levels.

KFCB bans ‘inappropriate’ TV programmes

The Kenya Film Classification Board KFCB) on Thursday put a ban on six television programmes for broadcasting ‘pro-gay’ content.

The children programmes on MultiChoice’s DSTV and GoTV are said to be glorifying homosexuality.

KFCB chief executive officer, Ezekiel Mutua, said in a statement that they had received complaints from members of the public about the broadcast of the homosexual cartoon programmes, which contravened the law and KFCB guidelines.

The statement further read that the programmes were designed to corrupt the moral judgement of the children regarding the family institution.

Among those banned are Loud house, the Legend of Korra and Hey Arnold aired on Nickelodeon and Steven Universe and Adventure Time on Cartoon Network. The channels are available on both DSTV and GoTV.

FEP cuts losses by 87%

Diversified investment company FEP Holdings Ltd, has announced a Ksh106 million profit after tax for the year ended December 2016 compared to a loss after tax of Ksh905 million the previous year.

The firm made an 87% drop in consolidated loss before tax at Ksh108 million down from Ksh866 million in 2015.

FEP Holdings Chief Executive Officer, Maurice Korir, attributed the performance to prudent management of operating costs and the strong performance of their real estate and micro-lending units.

In the last quarter of 2014, the firm introduced a turn-around programme that focused on cutting administrative costs by reducing the number of regional offices and embracing technological innovations across all their business units.


Previous Sports headlines June 16 2016
Next Newspaper summaries-June 19 2017

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