Afternoon business highlights – January 17, 2018

Afternoon business highlights – January 17, 2018

Nakumatt to be booted out of Likoni premises

The landlord for Nakumatt’s Likoni branch has sued the retailer, seeking an order to pay Ksh59.7 million in outstanding rent and service charge as at November 14, 2017.Nova Holdings Ltd also want Nakumatt Holdings Ltd, the parent company of the supermarket chain, ordered to immediately vacate the premises and in any event, not later than three days when the order is issued.Through lawyer Willis Oluga, the landlord wants a declaration that Nakumatt Holdings Ltd is in breach of the lease agreement dated March 20, 2014.

National Treasury seeks to raise Ksh40 billion through infrastructure bond

Kenya’s National Treasury is seeking Ksh40 billion through one of the largest infrastructure bonds ever offered since the instrument was first floated by the Grand Coalition government in 2009.The offer comes with a 12.5% annual return payable every six months and without any income tax charged unlike the other bonds. This means that the minimum investment of Ksh100,000 earns an investor Ksh12,500 a year, payable in two equal instalments six months apart.

Nuu Mobiles eyes Kenyan market as Hong Kong phone maker branches into Africa

Nuu Mobiles, a Hong Kong-based smartphone manufacturer is eyeing the Kenyan market as part of its strategy to expand in Africa .Nuu Mobiles, which is owned by Sun Cupid technology (HK) Limited, manufactures its phones in mainland China.The tech firm will debut in the Kenyan market by introducing Android smartphones priced at between Ksh15,000 and Ksh50,000.

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