Business highlights – October 31 2017

Business highlights – October 31 2017

Flour shortage looms as supplies dwindle

Three ships carrying the last batch of 1.1 million bags of subsidised maize docked at Mombasa port last week and flour is expected to land in the shops in the second week of November. However, a reduced supply of subsidised maize flour has hit supermarkets days to the end of the subsidy scheme, raising fears of shortages.

World Bank solar power project targets Kenya’s Counties

About 14 of Kenya’s Counties are set to benefit from a World Bank-funded off-grid electrification project which will undergo inspection this November. This follows the approval of Ksh15.56 billion by the bank in July this year, and the financing agreement with the government of Kenya signed last month to fund the project, dubbed Off-grid Solar Access Project for Underserved Counties.

Nakumatt asks High Court for permission to appoint adminstrator

The directors of Nakumatt Holdings Limited have applied to the High Court for an administration order in accordance with section 532(1)(b) of the Insolvency Act (2015). Nakumatt has proposed that Mr Peter Kahi of PKF Consulting Limited be appointed as administrator. The move will allow Nakumatt to continue to trade and generate revenue to meet its ongoing financial obligations.

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