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Business

UN Honours Kenyan Innovator for Revolutionary Farming Practices in New York Ceremony

A Kenyan farm manager was honoured on Wednesday at the United Nations General Assembly (UNGA) in the USA for leading the best innovative and sustainable agricultural practices. Kevin Getobai, the manager of Ololo Farm…

Sep 25, 2024

Business

Ruto Explains Decision to Welcome Starlink into Kenyan Telecom Sector

President Ruto has defended allowing Elon Musk's Starlink satellite internet company to enter the Kenyan market. At the Kenya Business and Investment Roundtable in New York, President Ruto emphasized that Starlink's i…

Sep 25, 2024

Business

Kenya and Singapore Ink Landmark Double Taxation Agreement

Kenya has made a notable stride in its international economic relations by finalizing a Double Taxation Agreement (DTA) with Singapore. This accord, reached during the United Nations General Assembly, marks Singapore…

Sep 24, 2024

Business

Mombasa Embraces Electric Tuk-Tuks for Green Revolution

The transition to electric tuk-tuks in Mombasa is gaining momentum, heralding a green revolution in the city's transportation sector. Stakeholders are urging the county government to create an enabling environment to…

Sep 23, 2024

Business

Secret Billion-shilling Contracts Shake Ruto's Government

The Kenyan government has entered into several secret, high-value deals with the Indian conglomerate Adani Group and other entities which have raised concerns among Kenyans. At the centre of the debate is a proposal f…

Sep 16, 2024

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Business

Experts Forecast Continued Strengthening of Kenyan Shilling Against US Dollar

Recent reports suggest a promising outlook for the Kenyan shilling against the United States dollar in the coming days. Traders have expressed optimism regarding the forex market with Reuters noting that the shilling…

Sep 13, 2024

Business

Turkish Investor Launches High-End Airport Lounge in Mombasa

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, spannin…

Sep 10, 2024

Business

Kenyan Activist in France Claims Life Under Threat for Exposing JKIA-Adani Deal

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 K…

Sep 9, 2024

Business

Treasury CS John Mbadi Unveils 3-Year Tax Cut Plan to Boost Economy

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…

Sep 9, 2024

Business

Maize Flour Prices Plummet Amid Bumper Harvest

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 fro…

Sep 2, 2024

Business

Kenyan Shilling Holds Steady for a Week as Forex Market Finds Balance

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 balance…

Aug 31, 2024

Business

Kenya Emerges as Top African Investment Destination in 2024 Deloitte Survey

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, attrib…

Aug 30, 2024

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Business

Safaricom Sounds Alarm on Starlink's Kenyan Market Entry

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 comm…

Aug 26, 2024

Business

Kenyan Shilling Set to Strengthen as Dollar Demand Eases

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…

Aug 23, 2024

Business

President Ruto's Backing of JKIA Deal Sparks Outcry Over Elite Capture

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 dis…

Aug 3, 2024

Business

Matatu Industry Issues 7-Day Ultimatum on Increased Fuel Levy

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 S…

Jul 24, 2024

Business

Gachagua's Travel and Hospitality Budget Slashed by Sh1.8 Billion

The office of Deputy President Rigathi Gachagua faces significant budget cuts for the current fiscal year. In the recent round of austerity measures by Ruto's regime, Gachagua's office endures a substantial reduction…

Jul 17, 2024

Business

US Businesses Expose Corruption Among Kenya Government Officials

American investors seeking opportunities in Kenya face the challenge of persistent demands for bribes from government officials. This issue has come to light in the 2024 Biennial Report on the Implementation of the Af…

Jul 11, 2024

Business

Kenya-US Data Hub Project at Risk as Chinese Influence Raises Red Flags

Kenya and the United States recently signed a Sh127 billion technological deal to establish an advanced data centre in Olkaria. This project, a collaboration between Microsoft and a UAE-based multinational company, ai…

Jul 6, 2024

Business

Treasury Bond Auction Falls Short as CBK Collects Only Sh488 Million of Sh20 Billion Goal

Kenya is grappling with a renewed crisis of investor confidence following violent protests that forced the government to abandon proposed tax increases. The demonstrations, which began in June against a finance bill a…

Jul 5, 2024