Fuel racket
The post budget 3 -4 shilling hike which has taken the price of a lire of fuel from about 73 to above 82 shillings per litre is the second such increase in just over a month.
Kengen
Refund cheques and physical share certificate are now ready for all Kengen shareholders and can be collected from stockbrokers. I already got and spent my refund last month.
Uchumi lifeline
Trade & Industry Mukhisa Kituyi says Uchumi could resume operations in just under a month under a governemnt approved plan. No word yet on the fate of (us) shareholders.
Naku Crash
- Uchumi’s main rival Nakumatt are having a sale this week at their ‘Mega’ branch (Nyayo Stadium) which is driving housewives, techies, and electronics shopkeepers, crazy. For the last week there’s been a mad rush each morning for flat screen TV’s, fridges, cookers, microwaves, radio’s and other electronic items which are have all been discounted by 50%.
- Meanwhile the company’s directors have failed to heed a lesson that the corporate world has learnt - which is that you don’t mess around with Government ministers. From Michuki (Standard & KTN), Tuju (CCK, KWS, KICC), Ngilu (Narc-K), Munyao (KMC), Kirwa (Kenya Seed) Maitha (city councils) and now Kituyi who has turned his fury at Nakumatt for interfering with his revival plan for Uchumi and retaliated on two fronts against the company – one is the non-inspection of their goods and the other is on the low taxes they pay (1/10th of Uchumi’s VAT).
New Bank
Family Finance Building Society will be licensed as a commercial bank at the end of this month and add on 5 new branches by the end of the year.
New University
Following the launch of Gretsa (U) in Thika last month, Kenya Methodist University in Meru will receive accreditation papers later this month.
Housing
New houses are on sale at the under-construction Balozi Estate off Muthaiga road. The 4 bedroom houses are going for 6.5 million.
Buy a minibus
Easy coach is disposing of 14 buses (10 38-seat Mitsubishi’s and 4 25-seat Isuzu’s). More details from easycoash@wananchi.com
Sleeping giants want you back
Telkom is waiving charges in a bid to get customers to reconnect their disconnected/out of service telephone lines. Reconnection and other charges from when the line was disconnected have been waived and the company will arrange repayment plans to settle the old bills.
Posta reminds Kenyans that it has over 80,000 mail boxes available at post offices around the country at an annual cost of 1,300 shillings for individuals and 4,000 for corporations.
