THE STANDARD
BUSINESS
Uber East Africa General Manger Loic Amado with Barclays Bank s Director of Retail and Business banking Zahid Mustafa when they signed a partnership MoU.[Wilberforce Okwiri]
It is Monday morning. Most investors in the digital application taxi business are eagerly waiting for a notification on their mobile phones about weekly returns from their drivers.
Depending on the agreement between a driver and the owner of the car, most of the payments are done weekly, especially on Monday when the application providers (Uber, Taxify, Little etc) release payments done during the week through cards.
However, Monday, which was once a promising day for the car owners, is turning out to be a theatre of all drama.
THE STANDARD
BUSINESS
A Kenya Power technician carries out maintenance on a power line in Nyeri town. [Mose Sammy, Standard]
Local companies are struggling to implement measures to reduce their energy bills, with more than half failing to comply with energy management regulations.
A new report by the Energy and Petroleum Regulatory Authority (Epra) noted that embedding energy management within their structures as well as undertaking regular audits can save Kenyan firms an estimated Sh45 billion annually.
Partial compliance with the Energy Management Regulations, which stands at 43 per cent, however resulted in firms saving only Sh19 billion annually over the last nine years.
THE STANDARD
BUSINESS
Motorists using super petrol will have to dig deeper into their pockets after the government increased the price of the fuel by Sh3.56 per litre, pushing the cost to Sh126.37 in Nairobi.
Users of diesel and kerosene were, however, spared the hike with the cost of the two products remaining unchanged for the third consecutive month.
In its latest price guideline released yesterday, the Energy and Petroleum Regulatory Authority (Epra) also restored the margins for oil marketing companies, which had been slashed last month in a move to cushion Kenyans from a price increase.
“In the period under review, the price for super petrol increases by Sh3.56 per litre while that of diesel and kerosene remains unchanged,” said Epra in a statement signed by acting director-general Daniel Kiptoo.
THE STANDARD
COMMENTARY
A user guide on how to access Safaricom s Fuliza loan
‘We have become beggars in our own country. Please Mpesa me something if you can’. This message came from a caddie friend of mine. He is a hardworking Kenyan who can no longer make ends meet because of the current economic situation in our country.
It is no surprise that Safaricom’s fuliza loans hit a record 1 billion daily. For millions of Kenyans, such credit was the only way of getting revenue.
Recently the Energy and Petroleum Regulatory Authority was forced to backtrack its earlier announcement of fuel hikes. This move stemmed from widespread public anger over the looming price hike at a time when most Kenyans are struggling.