Good morning! Let’s dive into today's top stories from Business Daily.

Kenya seeks UN’s help to tame Elon Musk’s Starlink

Regulatory Development: The Communications Authority of Kenya (CA) is collaborating with the International Telecommunication Union (ITU) to establish regulations for satellite internet providers like Elon Musk's Starlink, addressing challenges posed by their cross-border operations and novel technologies.

Legal Dispute: Kituo Cha Sheria, a legal advocacy group, has filed a lawsuit against the CA, alleging that the regulator is supporting Safaricom's efforts to limit Starlink's activities in Kenya.

Banking executive who led transformative initiatives loses long battle with Lupus

Resilient Leadership: Nuru Mugambi, diagnosed with Lupus at 33, defied medical expectations by living 14 more years, during which she made significant contributions to sustainable finance and responsible investment across Africa.

Dedicated Motherhood: As a single parent, Nuru was deeply committed to her daughter, Makena, ensuring her upbringing was marked by health, focus, balance, independence, and happiness.

Equity Bank cuts interest rates to below 26pc ahead of CBK summons

Interest Rate Reduction: Equity Bank has reduced its base lending rate to 17.39%, allowing for a maximum loan rate of 25.89%, down from the previous 26.33%.

Alignment with CBK Policy: This adjustment follows the Central Bank of Kenya's recent cut in the Central Bank Rate to 12%, reflecting Equity Bank's commitment to providing more affordable credit in line with national monetary policy.

Tax pain as Treasury eyes Sh343bn in new Finance Bill

Proposed Tax Increases: The National Treasury plans to introduce new taxes and raise existing ones to generate KSh343 billion in additional revenue, aiming to address the budget deficit and fund development projects.

Public Concern: These proposed tax measures have sparked public apprehension, with critics arguing that they may exacerbate the cost of living and place undue financial pressure on Kenyan citizens.

Unga Group pays ousted CEO Joseph Choge Sh13 million

Severance Payment: Unga Group paid former CEO Joseph Choge KSh13.25 million upon his departure on May 31, 2024, as part of his total remuneration of KSh56.2 million for the financial year.

Leadership Restructuring: Following Choge's exit, the company appointed James Nyutu, previously the Finance and ICT Director, as acting Managing Director effective June 4, 2024, aiming to enhance operational efficiency.

Elijah Oenga turns dry Kajiado into export farm, eco-lodge

Transformative Farming: Elijah Oenga revitalized his inherited 18-acre arid land in Kajiado County by planting trees and establishing 14 greenhouses, enabling the cultivation of basil for export and other crops.

Eco-Tourism Development: He dedicated five acres to create Ubuntu Kreative Village, an eco-lodge featuring a farmhouse, wellness stations, and an events garden, attracting guests for various events and promoting sustainable tourism.

Advancing sustainable school meal programs in Kenya and beyond

Nutritional and Educational Benefits: School meal programs in Kenya are crucial for combating hunger and enhancing educational outcomes, especially for children who rely on these meals as their primary source of nutrition.

Climate Resilience and Economic Impact: By sourcing food locally and adopting clean cooking methods, these programs not only support smallholder farmers and stimulate local economies but also contribute to environmental sustainability and climate resilience.

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Five More Top Stories

Law to bar varsities from offering certs, diplomas:
Legislative Proposal: The National Assembly's Education and Research Committee recommends passing a bill to prohibit universities from offering basic certificates and diplomas, reserving these programs for Technical and Vocational Education and Training (TVET) institutions. — Read the full article here

Agency rolls out GMO crops’ trials across the country after court nod:
Advancement in GMO Crop Trials: Following a High Court decision dismissing petitions against the government's lifting of the GMO ban, the National Biosafety Authority (NBA) has approved confined field trials for various genetically modified crops across Kenya, including maize, sweet potato, cassava, and cotton. — Read the full article here

Will G20 talks act on Africa debt burden?
Debt Crisis and Development Challenges: African nations are grappling with escalating debt levels, often surpassing public spending on health and education, which threatens recent development gains and hampers essential investments in climate change adaptation and mitigation. — Read the full article here