BUSINESS NEWS

A Turkish investor has established a new lounge at the Moi International Airport (MIA) in Mombasa, aiming to capitalize on the increasing number of passengers passing through the airport. The Bosphorus Lounge, spanning an impressive 10,000 square feet and capable of accommodating up to 150 guests,…

Kenyan whistleblower Nelson Amenya residing in France has raised concerns regarding his safety following his public disclosure of a controversial deal involving the Indian conglomerate Adani Group and Nairobi's Jomo Kenyatta International Airport (JKIA). Speaking on X on Sunday, Amenya expressed…

Treasury Cabinet Secretary John Mbadi has unveiled an ambitious plan to reduce taxes over the next three years, aiming to alleviate the financial burden on Kenyan citizens. The plan, which includes lowering the Value Added Tax (VAT) from 16% to 14% and reducing corporate tax from 30% to 25%, was…

Ugali lovers can soon enjoy affordable servings as maize prices sharply decline due to the current harvest and the influx of low-cost produce from East African Community countries. The price of maize has plummeted from a staggering Sh4,600 to a more affordable Sh2,200 per 90-kilogram bag in certain…

The Kenyan shilling demonstrated remarkable stability during the week of August 26 to August 30, 2024, maintaining a consistent exchange rate of 129.25 against the US dollar. This steadiness is attributed to a balanced equilibrium between dollar demand and supply, coupled with strategic…

Kenya has emerged as a premier investment destination in Africa, alongside South Africa, Nigeria, and Tunisia. The 2024 Deloitte Africa Private Equity Confidence Survey (PECS) highlights Kenya's attractiveness, attributing it to recent policy reforms and regulatory adjustments. These changes have…

The entry of Starlink, a satellite internet provider owned by Elon Musk's SpaceX, into the Kenyan market has sparked controversy and concern from Safaricom, Kenya's leading telecommunications company. In a formal communication to the Communications Authority of Kenya (CAK), Safaricom has voiced…

The Kenyan Shilling is poised to strengthen against the US Dollar in the coming week, driven by reduced foreign currency demand from fuel importers and manufacturers. Industry experts anticipate a slight stabilization of the Shilling against the dollar as these sectors have curtailed their dollar…

The recent controversy surrounding the potential sale of Kenya's primary airport has rapidly evolved from mere social media speculation to a noteworthy issue of elite capture. What initially appeared to be a minor disagreement between the Ministry of Transport and the Kenya Airports Authority (KAA…

The public transport sector in Kenya has issued an ultimatum to the government, threatening industrial action if the recently increased road maintenance levy is not rescinded. The levy, which was raised from Sh18 to Sh25 per litre of petrol and diesel, has sparked outrage among various transport…