Business highlights July 4 2017

Business highlights July 4 2017

Relief for new telcos as CA extends licensing compliance deadline:

The Communications Authority of Kenya (CA) has extended the grace period for two telco operators in the country after the duration within which they were supposed to launch their operations in the country expired.

Lycamobile and Homeland Media were expected to begin their operations on November 2015 and February 2016 respectively after they were granted mobile virtual network operator (MVNO) licences.

The industry regulator has said that it has extended the period to allow the telcos to negotiate interconnection agreements with other players in the industry.

“The Authority has also received communication from some of the host Mobile Network Operators on the ongoing negotiations with the MVNOs, and being cognizant of the intricacy such negotiations may present to the parties, [CA] is monitoring developments with a facilitative mindset,” said CA in a statement.

 

HF, training centre in Ksh317 million loan row:

Mortgage lender Housing finance (HF) has found itself in a legal tussle with a Nairobi-based vocational training centre over a disputed Ksh317 million loan.

Vikrut Prerequisites Limited has filed a suit against HF claiming that the lender had duped them into signing a partnership with the intention of expanding the institution. However, the lender only extended loans that Vikrut alleges are exaggerated.

Vikrut has now moved to court seeking to bar the auction of the centre on Kangundo Road. The institute also wants HF to explain how the Ksh89 million loan grew to Ksh 317 million.

Kilimall rewards shoppers as it celebrates third anniversary:

Online shopping mall, Kilimall, is celebrating its third anniversary in the country in style with irresistible offers and rewards for their shoppers.

The promotion dubbed Kilimall Triple Treat will see shoppers enjoy great deals and cash rewards between June 29 and July 7.

The rewards will also include free same day delivery, free gifts to shoppers, discount of up to 50% on various items and hourly flash sales with up to 90% discount on select items.

Kilimall managing director Victor Ma said the company intends to share with its clients the gains it has made in three years in Kenya.

“We are where we are because of Kenyans who believed in us even in harsh economic times. We want to celebrate our birthday with them,” said Ma.

 

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