Economy News This Week | Kenya

Fuel prices have risen to the highest level in Kenya’s history after the State discontinued a subsidy scheme introduced in April to ease public outrage over the high cost of living. The energy regulator — Energy and Petroleum Regulatory Authority (Epra) — removed subsidies of Sh7.10 on petrol, Sh9.90 on diesel and Sh11.36 on kerosene that applied on the prices of fuel sold in the month to September 14. https://bit.ly/3C5uDdU

The US firm contracted to build the Sh300 billion Nairobi-Mombasa Expressway has rejected Kenya’s offer to have it construct the road and recover its costs from charging motorists toll fees. The Parliamentary Budget Office (PBO) on Tuesday said American contractor Bechtel has settled on a model where the State pays it for building the road instead of recovering its money through user fees. https://bit.ly/3A8IAXT

Kenya will next year start manufacturing Covid-19 vaccines locally in collaboration with unnamed pharmaceutical firms in a move aimed at easing supply hitches that have derailed mass inoculation. Health Cabinet Secretary Mutahi Kagwe revealed in an internal vaccination blueprint that the country has started the process of building a filling plant for the Covid-19 vaccines. https://bit.ly/3EkLf31

A company that procured the controversial airport passenger buses has now slapped the Kenya Airports Authority (KAA) with a higher Sh934 million claim for unpaid fees and damages, records show. Relief and Mission Logistics won an arbitration award for concession fees and damages after the KAA terminated its eight-year contract in 2015. https://bit.ly/3hBvcUR