Afternoon business highlights

CBK officials probed over Imperial Bank woes
Central Bank of Kenya (CBK) current and former officials are under investigation by the Ethics and Anti-Corruption Commission (EACC) over the fraud that led to the collapse of Imperial Bank.
“All the banks that have had problems with depositors’ money have had their senior management, and in some cases directors, charged in court. With specific regard to Imperial Bank, that is, Criminal Case number 478/2016, the senior management have been charged together with the directors for loss of Sh29 billion,” said Director of Public Prosecutions (DPP) Noordin Haji.
Niger Delta residents retain right to sue Shell
A British High Court judge ruled on Thursday that a Nigerian fishing community would maintain the right to take legal action should the oil company Shell fail to clean up areas devastated by oil spills in the Niger Delta.
The Bodo fishing community went to court following two major oil spills in 2008 and Shell settled the claims for $70m in 2015.
The clean-up has now begun.
Shell’s lawyers argue that the prospect of further legal action is a hindrance.
They say that it gives people the impression that there could be a bigger payout if the job is not done properly – and people might be tempted to disrupt the clean-up.
South Africa to launch first optical telescope
South Africa is launching its first automated optical telescope on Friday in the province of Northern Cape, the headquarters of the country’s space exploration project.
The Meerlicht optical telescope could soon help unravel the mysteries of the universe, beginning with a closer look at the vast African skies.
Optical telescopes work by detecting visible light in space – and this one will be used alongside a radio telescope.
Together they will a give a real-time image the solar system at night.
This latest development is part of the Square Kilometre Array (SKA) project – which once completed will be the largest telescope in the world – the size of about 200 football fields.
The SKA will have antennas here in South Africa, New Zealand and Australia and is expected to change space exploration as we know it.

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