Afternoon business highlights- December 15, 2017

Afternoon business highlights- December 15, 2017

Insurance agents calls for appointment of IRA Commissioner General

Insurance agents are calling for the appointment of a substantive Commissioner General at the Insurance Regulatory Authority that is currently being led by Godfrey Kiptum in an acting capacity. BIMA Intermediaries Association of Kenya Chairman Washington Ndegea claims the acting commissioner is being held captive by cartels inside the industry record declines in the last one year. He says the current commissioners inability to clamp down on the cartels has seen insurance companies continue to operate without following the laid down rules of operations.

Kenya’s trade in agricultural exports hampered by pesticide residue

Kenya’s trade in agricultural exports is greatly hampered by perceived high pesticide residue in crops destined for key markets. Foreign Affairs Cabinet Secretary Ambassador Amina Mohamed says limited phytosanitary data has impelled export markets to set very low pesticide maximum residual limits in crops such as beans and peas thus denying developing countries revenue from exports. Kenya is a largely agro based economy in which the sector contributes an upward of 27 percent to the gross domestic product.

Sh39M case against Kisumu businessman fails to kick off

A case in which a businessman is facing criminal charges for issuing a bad cheque failed to kick off on Friday after the proprietor failed to show up. The court was told that the businessman had travelled and asked for the case to be adjourned to another date. The Kisumu based businessman, Hemar Kishor Kotecha through his lawyers indicated that he would like to have the matter settled out of court saying that he had already paid the plaintiff Ksh. 6 million shillings. Mr. Kotecha is accused alongside others of issuing bad cheques worth Ksh. 39,310,000 million shillings to Jumbo Commodities for an account held at GTB bank.


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