Summary Of The Business Daily Newspaper -Aug 1,2025
Page 1: Reports that a company linked to Stanley Murage, a former aide to President Kibaki, and an American investor facing fraud charges has received Treasury approval for a Sh106 billion Lamu desalination project under a private proposal model.
Page 2: Notes that Kenya plans to privatize Kenya Pipeline Company and sell part of its Safaricom stake to raise funds after tax hike protests, with the Treasury arguing reduced state ownership could boost dividends.
Page 4: Highlights that Kenya Power’s customer base exceeded 10 million, driving record electricity demand and forcing reliance on imports from Ethiopia and Uganda amid thin reserves.
Page 6: States that East African Breweries posted a 12.2% profit rise to Sh12.19 billion, increasing dividends for the third straight year despite challenges like illicit alcohol.
Page 7: Reveals that the High Court overturned the acquittal of five individuals in the Sh3.5 billion Anglo-Leasing scandal, ordering them to defend fraud charges over undelivered security equipment.
Page 8: Indicates that sub-Saharan African central banks, including Kenya’s, are boosting gold reserves as a hedge against volatility, though BMI warns of risks if prices fall.
Page 9: Criticizes Kenya’s misuse of emergency procurement for non-urgent projects, arguing it enables corruption in deals like the $550 million Naivasha power plant.
Page 10: Explains that Kenya’s property sector lags in tech adoption despite tenant demand for digital solutions, with only 47.2% of agents using rent collection software.
Page 12: Notes that Acorn Holdings’ two Reits saw a 32.2% combined profit rise to Sh456.63 million, driven by student hostel rentals and property valuations.
Page 13: Warns that Kenya’s banking sector faces a 17.4% NPL rate a two-decade high despite rising profits, urging better credit management and restructuring.
Page 21: Describes how artist Yusuf Mirumbe, mentored by Alfajiri, overcame street life to gain acclaim and university sponsorship through his minimalist paintings.
Page 24: Highlights that 32.5 million Kenyans still use feature phones, excluding them from digital services like eCitizen and mobile banking, widening inequality.