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KRA advertises Commissioner General job after Wattanga exit
The Kenya Revenue Authority has officially advertised the vacant position of Commissioner General following the recent departure of Humphrey Wattanga. Meanwhile, the Kenya Vision 2030 Delivery Secretariat has appointed James Maina as its new acting Director General, effective April 14. The International Monetary Fund has separately advised Kenya to incorporate pending bills, estimated at Sh684 billion, into its official public debt figures to provide a more accurate fiscal outlook. These developments come as the SIC Investment Co-operative faces crippling losses of up to Sh2 billion due to years of mismanagement and fraudulent practices, leaving thousands of members facing significant financial distress. Additionally, the Policyholders Compensation Fund has begun paying out compensation to clients of Trident Insurance Company Limited following its collapse.
Evergrande founder pleads guilty to fraud
Hui Ka Yan, the founder of China's property giant Evergrande, has pleaded guilty to charges including embezzlement and bribery, marking a significant development in the fallout from Evergrande's collapse. In a separate case, a 20-year-old man has been charged with multiple state and federal offenses, including attempted murder, for allegedly attacking the San Francisco home of OpenAI CEO Sam Altman and attempting to damage the company's headquarters. Meanwhile, French cement giant Lafarge has been found guilty in a Paris court of financing terrorism by paying millions of dollars to militant groups, including the Islamic State, to maintain operations at its Syrian plant during the civil war.
Kenya Ports Authority wins Sh1.3bn tenders fight
The Public Procurement Administrative Review Board has rejected appeals by Finnish firm Kalmar Finland Oy, upholding the Kenya Ports Authority's decisions to disqualify the company from two tenders totaling Sh1.3 billion. Separately, the Kenyan government is partnering with private sector investors to establish a strategic petroleum reserve in Mombasa, aiming to enhance energy security and mitigate the impact of global supply shocks. The UN Environment Programme and UN-Habitat have also launched a 5.2 million U.S. dollar project to transform Nairobi into a hub for climate resilience and nature-positive growth.
