BUSINESS NEWS

Wed, 05/22/2013 01:21 PM | By Mwakilishi

Kenyans who incur losses due to power outages and surges could soon get compensation if a move by Marakwet East MP David Bowen sails through.

Bowen wants Kenya Power to compensate Kenyans who encounter fires and loss of property as a result of outages and surge...

Wed, 05/22/2013 08:37 AM | By Mwakilishi

Kenya Investment Authority in a bid to scale up engagement with diaspora Kenyans.

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Tue, 05/21/2013 09:49 PM | By Mwakilishi

The Delamere family is for first time in more than 100 years subdividing its Sh5 billion Naivasha-based estate as part of a succession plan involving grandsons of the settler farmer.

The aristocrats have registered a new company, Ngombe Limited, to inherit some...

Sun, 05/19/2013 06:08 PM | By Mwakilishi

Machakos County cabinet secretary for Trade, Economic Planning and Planning Dr Sunil Kumar Dhall and Governor Alfred Mutua’s chief of staff discuss in an interview with NTV the investment opportunities available or coming up in the county of Machakos, as well as the incep...

Sun, 05/19/2013 02:31 PM | By Mwakilishi

The Konza technology city, which is set to be Africa's first silicon savannah, is expected to grow the country's economy tremendously, through job and investment opportunities. The city will sit on 5,000 acres of land in Malili in the county of Machakos, and is expected t...

Sat, 05/18/2013 02:51 AM | By Mwakilishi

Nairobi’s stature as a regional logistical hub for overseas investors is set to drive further growth in Kenya’s prime residential market, top Knight Frank officials have said.

The firm’s head of global residential Lord Andrew Hay and head of international resid...

Wed, 05/15/2013 09:43 PM | By Mwakilishi

UK companies with significant stakes in Kenya’s listed firms are taking home more than Sh20 billion in dividends and fees this year, underlining the former colonial master’s continued dominance in the economy.

Financial results so far released for the six compa...

Tue, 05/14/2013 09:27 AM | By Mwakilishi

Telecoms firm Safaricom has recorded a 39 per cent increase in profit after tax to Sh17.5 billion for the period ended March 2013, on the backdrop of increased revenue flows from voice, M-Pesa and data services.

Revenues increased by 16 per cent to hit Sh124.3...

Tue, 05/14/2013 01:00 AM | By Mwakilishi

When three brothers ventured into technology business, their friends and relatives laughed off the idea. But, they also shrugged off the negative voices, convinced it was time to test the waters of the technology world.

They were coming together after taking di...

Mon, 05/13/2013 04:58 PM | By Mwakilishi

An upcoming Sh500 million exclusive Malindi resort owned by Italian billionaire Flavio Briatore will open its doors in August.

Mr Briatore, who was on a one-day inspection tour of the project at the weekend, arrived at the Malindi Airport aboard a private luxur...

Mon, 05/13/2013 03:06 AM | By Mwakilishi

Foreign investors flocked back to the stock market in April doubling share purchases in a reversal of the decline recorded in March, when election jitters are thought to have slowed their participation at the bourse.

Net foreign investor inflows to the Nairobi...

Fri, 05/10/2013 01:28 AM | By Mwakilishi

US tech giant IBM has opened an innovation hub in Nairobi to match IT innovators with investors who will help develop the ideas commercially.

The hub, which is the third in Africa after Morocco and South Africa, will allow software developers to test their new...

Thu, 05/9/2013 07:35 PM | By Mwakilishi

The Flower People is a floral company based in Kenya. They have created an online platform for the Kenyan diaspora to buy bouquets and arrangements of flowers for Mother’s Day or any other day or occasion.

Wed, 05/8/2013 05:28 PM | By Mwakilishi

Jackson, who prefers to use one name, is a Kenyan living in Texas, USA. He was introduced to an investment cooperative in Kenya by a friend, who is a member.

The performance of the cooperative, based on its reports, encouraged him. He now earns annual income of...

Tue, 05/7/2013 03:59 PM | By Mwakilishi

Central Bank of Kenya employees hatched an elaborate fake bonds trading scheme in which the Treasury may have lost up to Sh2.6 billion, a Nairobi court has been told.

Blacklisted bonds dealer Fredrick Mweni claims in an affidavit filed in court that the CBK los...

Mon, 05/6/2013 11:08 PM | By Mwakilishi

Kenya was the fifth biggest foreign direct investor in other African countries over the past five years based on the number of new projects initiated, an Ernst & Young survey has established.

India took the lead position with 237 projects, South Africa was...

Mon, 05/6/2013 07:13 PM | By Mwakilishi

Kenya’s largest bank by assets, KCB, has surpassed Equity Bank to become the most valuable lender listed at the stock market.

KCB’s market capitalisation has risen to Sh125 billion compared to Equity Bank’s Sh115 billion, while a year ago Equity’s market valuat...

Sun, 05/5/2013 06:11 PM | By Mwakilishi

Even as the influence of China and India continues to reverberate across the East African region, it has emerged that Kenya has toppled the Asian powerhouses in terms of investment in the region.

According to TradeMark East Africa, the publishers — in collabo...

Sun, 05/5/2013 01:45 PM | By Mwakilishi

Little was known of Julius Yego until last year’s London Olympics where he represented Kenya in javelin. The policeman had relied on the Internet to sharpen his skills, earning himself the nickname ‘YouTube athlete.’

His relentless zeal to learn the skills onli...

Fri, 05/3/2013 04:57 PM | By Mwakilishi

A rich crop of Kenyan tycoons and millionaires from Uganda and Tanzania have been honoured with a listing in the prestigious annual Rich List produced by the British national newspaper the Sunday Times. 

The silver jubilee edition of the annual list relea...

Fri, 05/3/2013 03:14 PM | By Mwakilishi

Equity Bank beat 42 other local lenders to rank as the best bank in Kenya in a survey conducted by ThinkBusiness magazine.

The bank has grown rapidly over the years to become the second most profitable in the country, posting a Sh12 billion net profit last year...

Fri, 05/3/2013 01:07 PM | By Mwakilishi

The launch of BebaPay, a Near Field Communication (NFC) enabled prepaid card, will certainly change the mobile payments industry.

Equity Bank and Google have partnered to unveil the commuter card where passengers top-up the card and use it to pay fare. All you...

Thu, 05/2/2013 03:32 PM | By Mwakilishi

President Uhuru Kenyatta stayed on the expansionary path of his predecessor Mwai Kibaki submitting a Sh1.654 trillion Budget for the next financial year. This represents a 13.4 per cent increase over the Sh1.459 trillion Budget for current year ending June 30.

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Wed, 05/1/2013 02:22 AM | By Mwakilishi

The government is reviewing the traffic law to enforce the use of cashless payment in a bid to revamp public transport.

In a press briefing on Tuesday, Transport permanent secretary Karanja Kibicho said the ministry is finalising a review of the New Traffic Act...

Tue, 04/30/2013 09:09 PM | By Mwakilishi

Billionaire entrepreneur Richard Branson Tuesday hit out at “overzealous” Western governments for killing Kenya’s tourism industry through many travel advisories relating to terror attacks.

In a commentary published in London’s Independent newspaper, the owner...

Tue, 04/30/2013 09:25 AM | By Mwakilishi

More than Sh40 million is missing after police and guards transporting the cash from a bank in Busia to Kisumu abandoned a vehicle and went missing.

Police and G4S officials say there was more than Sh40 million being transported in the van.

The vehic...

Tue, 04/30/2013 08:55 AM | By Mwakilishi

China committed more than $75 billion to Africa in the past decade, coming close to the level of US money although the nature of Beijing's support was far different, a study said Monday.

The database released by the Center for Global Development aims to be the...

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