Business highlights – January 9, 2018

Business highlights – January 9, 2018

Kenya needs 24 hour economy, says Matatu Owners Association

The Matatu Owners Association (MOA) has been hard hit by the December night travel ban and has called for involvement of all stakeholders in seeking a lasting solution to the runway road accidents. The Association said haphazard directives by the National Transport and Safety Agency (NTSA) and the police only serve to disrupt lives and impoverish hardworking Kenyans.“Kenya needs a 24-hour economy to create thousands of jobs but you cannot hurt that prospect just because someone failed to do their work. The night bus travel ban must be lifted partially to 11 pm to allow buses to complete long distance journeys like from Mombasa to Eldoret,” said MOA chairman Simon Kimutai.

We did not sack 1,000 SGR workers, China Communications Construction Company says

China Communications Construction Company, the contractor of the Nairobi–Naivasha SGR Phase 2A project has refuted claims that it has fired 1,000 staff at the Maai Mahiu sub-section.Over the past few days, the workers at the sub-section office No. 4 have been engaging in a strike, raising issues on remuneration and an improvement of the working conditions.The company, however, said since the start of the strike, they have been having discussions with the workers’ representatives on how best to handle these issues.

Road accidents hit insurance sector as sector to pay Ksh500 million in claims

Insurance companies will pay over Ksh500 million in compensation claims for fatal accidents that occurred in December alone, a report by Bima Intermediaries Association of Kenya has found. Bima Chairman Washington Ndegea says the rate of compensation for an insurance fatality due to motor accidents stands at Sh3 million.He says the accidents in December that saw over 200 people dead took away 0.5 per cent of the expected premium income of the year 2017 from only one class of insurance businesses.

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