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Matatu Fares Jump 50% as Operators Protest Fuel Price Hikes
Matatu operators in Kenya are implementing a 50 percent fare increase and planning a nationwide strike starting Monday in protest against recent fuel price hikes. This follows the Energy and Petroleum Regulatory Authority (EPRA) announcing significant price increases for petrol and diesel in the May-June pricing cycle, with petrol up Sh17 and diesel up Sh46. The government has defended the fuel price surge, citing Middle East conflict-driven global oil market volatility as the primary cause for increased pump costs. Kiharu MP Ndindi Nyoro is urging the government to implement significant tax reductions and levy removals to combat soaring fuel prices. Public transport operators across Kenya have expressed concern following the fare increases, warning of the economic impact on commuters.
Asahi Cleared for EABL Majority Stake, Posta Shutters 125 Offices
Asahi Group Holdings Ltd has secured regulatory approval in Kenya, Tanzania, and Uganda to acquire a majority stake in East African Breweries PLC (EABL) without issuing a mandatory takeover offer to minority shareholders. Separately, the Postal Corporation of Kenya (Posta) is shutting down 125 of its post offices as part of a Sh1 billion cost-cutting initiative to achieve profitability. CPA Roble Said Nuno has also been appointed as the new Chief Executive Officer of the Commission on Revenue Allocation (CRA) following a competitive recruitment process aimed at enhancing leadership in managing devolved funds.
