Afternoon business highlights – November 2 2017

Afternoon business highlights – November 2 2017

Kenya Revenue Authority loses Ksh50 billion due to prolonged elections

The Kenya Revenue Authority has lost Ksh50 billion in revenue collection to date due to prolonged elections that have either crippled or suspended businesses across the country in recent months. State Department for Planning Principal Secretary Irungu Nyakera says he hopes that the political climate will improve so that revenue collection can return to normal.

Government to upgrade Standard Gauge Railway by 2021

Cabinet Secretary for Transport and Infrastructure James Macharia has confirmed that Kenya’s government is planning to upgrade its Standard Gauge Railway service (SGR) by making a shift from diesel to electric power within the next four years. Macharia said the new project will cost about Ksh65 billion. He stated that the government opted to start with diesel powered train due uncertainty in electrical power supply.

Kiambu land prices fall as County moves to regulate land use to boost food security 

Land prices in Kiambu have fallen marginally following a June 2017 plan by the county’s department in charge of land, housing and physical planning announced  to regulate land use in order to boost food security. Prices Ruiru fell by 3.5%, as those in Juja declined by 5%. Meanwhile, Limuru saw a drop of 5.7%. Land for real estate commands a significantly higher price than land meant for agricultural use. Policies that prevent the change in land use from agriculture to real estate will therefore adversely affect land prices. Investors are therefore holding back on buying land in satellite towns in Kimabu County until they are certain that purchases will not be affected by the proposed policies on landuse, said HassConsult Head of Development Consulting and Research, Sakina Hassanali.

Previous Schools urged to focus on classroom design to improve student performance
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Newspaper summaries-September 18 2017

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