Evening news headlines

News highlights

KFS Board to blame for depletion of country’s tree cover

The task force formed to get to the root of the depletion of Kenya’s forest cover has found the board and management of the Kenya Forest Service (KFS)liable. When it presented its findings to Deputy President William Ruto on Monday morning, the task force attributed the poor management of Kenya’s green resources to corruption and ineptitude at the KFS. The task force was later on Monday expected to handover its findings to Environment Cabinet Secretary Keriko Tobiko. The task force which was gazetted into existence on February 26 was formed in response to Kenya’s depleted forest cover.

Fraudsters arrested again after Biwott tree saga

A duo charged with attempting to defraud several businessmen, with the purported sale of the late Nicholas Biwott’s trees, have been rearrested for presenting fake land titles in court. The fake titles were used as surety for their release pending the hearing of their case. The veteran politician died on July 11, 2017 and was buried at his Toot village home in Elgeyo Marakwet on July 20. The accused are Solomon Kiptanui, Margaret Jepchirchir and Milkah Cheruto.

Protesters block Kisumu-Kakamega Highway 

Protesters paralysed transport on Kisumu-Kakamega highway earlier today. The demonstrators were protesting  the poor state of a road. They blocked the highway at the Mamboleo junction, where the road in question starts from, causing a traffic snarl up. They also blocked the Mamboleo- Miwani- Chemelil road – the one in a poor state, with stones while others planted trees. The road links Kisumu and Nandi counties and by sugarcane trucks as a shorter route to transport cane to Kibos Sugar factory.

Business highlights

Transparency key to securing finance for SMEs, says Invest in Africa Forum

Credit to small and medium enterprises has continued to contract especially after the introduction of interest rate capping in 2016. Over 50 SMEs gathered at the Strathmore Business School on Friday to discuss and share their experiences in SME financing. Organised by Invest In Africa Kenya, the SMEs explored whether there is a gap in SME financing and how businesses can source start-up, operating and expansion capital. The purpose of the forum was to foster the participation of and dialogue between SMEs and financiers on perceptions biases regarding SME financing if any and gain consensus on the way forward towards advancing the SME financing agenda in Kenya.

Cytonn report tags Thika as one of Kenya’s best places to buy land

Thika is the most affordable place to buy land outside of Nairobi according to a land Report released by Cytonn Real Estate company. The asking prices for an acre in Thika is at Ksh9.2 million followed by Syokimau and Mlolongo at Ksh12 million. According to the Nairobi Metropolitan Area Land Report, Athi River and Ruai asking prices are at Ksh12.9 million and Ksh13.1 million respectively. The report indicates that Thika offers investors the highest expected returns of 9.7% against a market average of 3.7%.

KenGen gets Ksh18 billion risk guarantee for renewable energy projects

The World Bank will provide up to Ksh18 billion ($180 million) to Kenya Electricity Generating Company (KenGen) in the form of risk guarantee allowing it to attract long term capital for its renewable energy development projects. KenGen said on Monday the World Bank’s approval will also enable it raise up to Sh30 billion ($300 million) in long term commercial financing to be used to refinance its existing commercial loans.

Sports highlights

Arsenal and Chelsea tracking Atalanta’s Bryan Cristante

Arsenal and Chelsea are reportedly monitoring Atalanta midfielder Bryan Cristante. The 23-year-old has had a superb season in Serie A after Atalanta made his loan from Benfica permanent earlier this year. It is understood Cristante’s representatives met with Premier League clubs in London two weeks ago and the player is keen on a move to England.

Bayern Munich Winger Arjen Robben to miss clash against Real Madrid

Bayern Munich are without winger Arjen Robben for their Champions League semi-final second leg against Real Madrid. Robben suffered a leg injury eight minutes into Real’s 2-1 win at the Allianz Arena last Wednesday. Left-back David Alaba (thigh) and midfielder Javi Martinez (head) are both expected to return from injury. Real Madrid right-back Dani Carvajal is likely to miss out with a hamstring injury, but Isco trained on Monday despite a shoulder injury.

Stoke to suffer mass exodus in coming weeks with Jack Butland and Badou Ndiaye set to leave if relegation confirmed

Stoke fear a mass exodus of their top players if they are relegated from the Premier League – with Jack Butland and Badou Ndiaye likely to head the list of those leaving. Paul Lambert’s side have still not given up hope of scrambling to survival this season and are now just three points adrift of Swansea in 17th. But they still need to win their last two matches of the campaign to have a realistic chance of survival as they desperately try to avoid the fall down in to the Championship.

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