BUSINESS NEWS

Kenya says it plans to launch an investor roadshow in mid next month in a bid to promote a planned Eurobond issue. Speaking on the sidelines of the World Economic Forum in Davos, Switzerland on Friday, Central Bank of Kenya (CBK) Governor Patrick Njoroge said the campaign would likely be held in…

The government has embarked on a plan to transform Jomo Kenyatta International Airport (JKIA) into a world-class facility as Kenya Airways prepares to fly its maiden direct flight to the United States later this year. In the new plan, the government will among other things install a new parking…

Kenya has dropped an earlier plan to electrify the newly constructed Standard Gauge Railway (SGR) line between Mombasa and Nairobi due to its high cost and the country's irregular power supply. In a statement, Kenya Railways managing director Atanas Maina said that preliminary research show that…

President Kenyatta's cousin, Ngengi Muigai has lost a 25-year court tussle for a 443-acre coffee estate in Kiambu county auctioned by Kenya Commercial Bank (KCB) about 10 years ago. The businessman was dealt a blow on Tuesday after the Court of Appeals dismissed the suit, where he contested the…

Authorities at Jomo Kenyatta International Airport (JKIA) on Thursday grounded two passenger airlines for reportedly engaging in illegal activities. Speaking at JKIA on Thursday, Transport Cabinet Secretary James Macharia said the two have been operating as cargo airlines when they are licensed to…

The Kenya Revenue Authority (KRA) plans to launch an operation targeting workers and businessmen who have declined to file tax returns, with culprits facing a Sh20,000 fine. Treasury said the tax collector will hunt for workers and businesspeople who failed to declare their income to the State, in…

It has now emerged two families were the largest beneficiaries of the government subsidy on maize launched in mid 2017 following a shortage of the commodity that left Kenyans in 'hunger'. The Standard reports that two Mombasa-based billionaire families pocketed Sh9 billion spent by government on…

Kenyans could soon be able to send or receive money across networks in real time. The Information Communication and Technology Ministry has said that mobile money operators Safaricom and Airtel will from next week launch a trial of mobile money interoperability, which will enable mobile users make…

National Bank of Kenya (NBK) has confirmed that fraudsters made away with Sh29 million in a suspected a hacking incident on Wednesday. In a statement to the media, the banking institution confirmed its systems had been infiltrated and investigations have since been launched. “We can confirm that…

Hundreds of Kenyans who invested their money in a United Kingdom firm are now living in fear after the company allegedly went 'missing.' The investors, who purchased shares of Atlas African Industries said they are unable to track the performance of the company after its website, the only means it…