BUSINESS NEWS

The Kenyan government has assumed the responsibility of servicing a substantial loan originally taken by the national carrier, Kenya Airways (KQ). The loan, amounting to $641.49 million (Sh83.4 billion), was provided by US lenders Citi Bank and JP Morgan in 2017 and was intended to finance the…

Etihad Airways has indefinitely delayed the resumption of its direct flights from Abu Dhabi to Nairobi. This announcement follows the airline's inability to initiate the flights on June 1, 2024, as previously scheduled. These non-stop connections were expected to facilitate seamless travel for…

Macadamia nuts, often referred to as "nature's gold," have become a prized commodity globally, celebrated for their rich flavour, creamy texture, and numerous health benefits. Kenya, a key player in macadamia production, has witnessed remarkable growth in this sector with the country's annual…

The Ruto administration in Kenya finds itself entangled in a complex web of fiscal challenges with revenue collection a formidable obstacle. The World Bank's recent warning about unrealistic revenue projections and their potential impact on spending plans has cast a spotlight on the nation's fiscal…

Brussels Airlines has made a triumphant return to Nairobi after a hiatus of nearly a decade. Their return is spurred by Kenya's burgeoning corporate landscape and revitalized tourism sector. The Belgian national carrier, a member of the esteemed Lufthansa Group and Star Alliance, touched down at…

The Kenya Association of Air Operators (KAAO) has voiced strong opposition to the 2024 Finance Bill, citing its potential to disrupt the nation's air travel sector. The Bill proposes the implementation of Value-Added Tax (VAT) on various airline operations, encompassing leasing of equipment,…

The Kenyan shilling has remained resilient against the US dollar in recent days, despite fluctuations in global currency markets and economic trends. According to the latest report from the Central Bank of Kenya (CBK), the exchange rate stood at Sh131.87 per US dollar on May 30, 2024, marking a…

Kenya's inflation rate climbed to 5.1% in May 2024, reversing a three-month trend of decline. This rise signals a potential period of increased strain on household budgets. The primary driver of this inflation surge is the cost of food commodities. Essential food items like spinach, sukuma-wiki,…

In a bid to address the declining number of contracted tobacco farmers, British American Tobacco (BAT) Kenya has taken the strategic step of increasing its tobacco leaf prices. This move aims to stem the mass exodus of growers and ensure the sustainability of its supply chain. 2023 presented…

The recent acquisition of Lipton Teas and Infusions (formerly Ekaterra) estates by Sri Lankan firm Browns Investments Plc has reignited long-standing disputes and unresolved issues with the local community in the South Rift region of Kenya. This transition of ownership has brought to the forefront…