Business highlights -March 14, 2018

Business highlights -March 14, 2018

Parliamentary committee slams Airports Authority for failing to produce title deeds following audit

The Kenya Airports Authority (KAA) management has been asked to produce five title deeds for parcels of land related to audit queries flagged by the Auditor General during the financial year 2015/16.The Authority’s Managing Director Jonny Anderson told the Parliamentary Public Investments Committee (PIC) chaired by Abdulswamad Nassir (Mvita) that the title deeds were under the custody of lawyers whose identities he failed to reveal.

AfDB’s Economic Outlook shows decline in regional economies

The African Development Bank has expanded its flagship publication, the African Economic Outlook, with five regional reports. The regional economic studies were released in Tunis (North Africa), Abidjan (West and Central Africa), Nairobi (Eastern Africa) and Pretoria (Southern Africa).

According to Nnena Nwabufo, the Bank’s Deputy Director General for the East Africa Region, East Africa, with thirteen countries, recorded the continent’s best economic performance with a GDP growth rate of 5.9% in 2017 −a rate much higher than the growth recorded by the other regions of the continent, and above the continental average of 3.6%. The good performance of the East African sub region is stimulated by six countries: Ethiopia, Tanzania, Djibouti, Rwanda, Seychelles and Kenya. The outlook remains positive for 2018 and 2019, with growth expected to continue, reaching 5.9% in 2018 and 6.2% in 2019.

KAPI lauds appointment of National Quality Control Laboratory Board Members

The Kenya Association of Pharmaceutical Industry (KAPI), the umbrella pharmaceutical industry body, has lauded the government for the recent re-organisation of the National Quality Control Laboratory (NQCL) following the gazettement of a new board of management. KAPI Chairperson Dr Anastasia Nyalita said the appointment of a new Board of management at the NQCL will provide the much needed continuity on the ongoing efforts to guarantee the integrity of the local pharmaceutical market against unregulated and sub-standard medicines.

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