Business & Economy3 stories from 2 sources
The Kenya Sugar Board (KSB) announced that all four state-owned sugar mills recently leased to private investors will be fully operational by the end of October, with two already running. In the energy sector, the government is accelerating efforts to commercialize Turkana oil discoveries after Tullow Oil exited Kenya. Tullow Oil sold its entire business to Auron Energy E&P Limited, an affiliate of Gulf Energy Ltd, after 14 years in the country. This transaction is considered a significant step for Kenya's ambition to become an oil exporter. Concurrently, the government's mandatory housing levy is being challenged in court. Civil society organizations filed a petition at the High Court to halt the levy, arguing it is unconstitutional and exacerbates poverty.
Civil society organizations have filed a petition at the High Court in Kenya to halt the government's mandatory housing levy, arguing it is unconstitutional and exacerbating poverty among citizens.
Summary & Analysis
Tullow Oil has exited Kenya after 14 years, completing the sale of its entire business to Auron Energy E&P Limited, an affiliate of Gulf Energy Ltd. This transaction marks a significant step for Kenya's ambition to become an oil exporter, as the government accelerates efforts to commercialize Turkana oil discoveries.
Summary & Analysis
