Motorist will now pay more for fuel consumption after the Energy Regulatory Commission (ERC) increased pump prices on Monday. Pump prices increased by margins of Sh2.63 per litre for super petrol and Sh0.72 per litre for kerosene. However, diesel reduced by Sh0.36 per litre. Petrol will retail at Sh121.13 in Nairobi, diesel at Sh108.44 per litre and kerosene Sh87.

The CBD Car Bazaar is a weekly event that takes place every Sunday from 8.00 am to 5.00 pm at the parking grounds between the GPO and Barclays Plaza adjacent to Uhuru Highway. It provides a platform for car owners, car sellers and car dealerships to exhibit their cars for sale to car buyers.

Mr Muthoka failed to comply with the take-over procedures after his direct and indirect shareholding in CMC rose above the 25 per cent cap beyond which a shareholder is required to declare an intention to take-over of a public company…It remains a mystery as to who initiated the Pewin contract as Mr Muthoka has denied allegations by Pewin’s managing director…

We must do all in our power to ensure ours is not a country where a shrinking number of people do really well, buying the best and latest vehicle in the market while a growing number of Kenyans can barely put food on their table.

Persons mentioned adversely in the forensic audit report by South African firm Webber Wentzel will present their defense to the committee, the Capital Markets Authority (CMA) said on Friday when it formed the team.

CMA initially suspended CMC shares for seven trading days beginning September 16, eight days after lead shareholder Peter Muthoka was replaced as chairman. The CMA had argued that the suspension was meant to sustain investor confidence in the capital markets and give the CMC Holdings’ directors an opportunity to resolve the outstanding issues.

CMC is the official appointed dealer for Volkswagen in Kenya, with Mr Forster and his partners said to be importing the buses directly from Brazil. Sources add that Multiple Hauliers East Africa, a transport company, last year stopped buying MAN heavy commercial trucks from CMC and started ordering directly from manufacturers.

UAP Life Assurance and Capex Life Assurance confirmed that they had regulatory issues to settle and were hoping to have received approvals in a month’s time.

The licence of UAP’s sister company, UAP Insurance Company which does general business, was renewed. UAP is eyeing listing on the Nairobi Securities Exchange this year.

The Government has allocated Sh1.4 billion for the purchase of a fresh fleet to bolster security operations. he acquisition aims to improve and widen security patrols in the wake of Somali militia Al Shabaab attacks, and to prepare for the election. It is understood that at least Sh1 billion is being spent on the China-made station wagons, single and at least a dozen lorries to be deployed to the departments.

Available documents indicate an invoice dated October 17, and numbered PML0016-011/PNK sent to CMC Group Limited showing that 50 Land Rover pick-ups were sold to the Ministry of Internal Security and Provincial Administration, through Pewin Motors Ltd, the agents for CMC Group. The deal earned Pewin Motors, whose chairman is one Peter Kirigua, formerly working for automaker DT Dobie, Sh11.7 million in commission. In yet another transaction, Pewin Motors was paid Sh2.8 million in agency commission for sale of 16 Ford Ranger double cabins to the Ministry of Education, through a Local Purchase Order (LPO) No 1032932.