On the Money – In Brief

Mergers, Acquisitions and Financial Results

Kenya's economy could be losing up to KShS3.2 billion ($38 million) in taxes through influx of illegally-imported counterfeit mobile phones, denying the country significant economic benefits, a Nokia anti-counterfeiting expert has said. High penetration of fake devices is negatively impacting on performance of operator networks and customer satisfaction, lowering operator profits and government tax income.

The curse of Nitel strikes again. Sources in the Bureau Public Enterprise (BPE) confirmed to Daily Trust last week that investigations have revealed that the New Generation Consortium are incapable of raising the bid price of $2.5billion.