BUSINESS NEWS

The discovery of excessive levels of aflatoxin in a popular brand of maize flour has prompted the Ministry of Health to take immediate action. The Ministry has cautioned the public against consuming the contaminated flour and directed county health officers to seize all existing stock from the…

A recent cut in undersea fibre optic cables near Mtunzini, South Africa, has caused internet slowdowns across East Africa. The Communications Authority of Kenya (CA) has issued a statement acknowledging the disruptions and outlining efforts to mitigate their impact. The affected cables, including…

The Kenyan government's Finance Bill for 2024 outlines significant alterations to the country's tax structure. These proposals, if approved by parliament, will establish the tax policy framework for President William Ruto's administration and contribute to funding the 2024/25 fiscal year budget.…

The Kenyan government's Finance Bill 2024 has sparked debate due to proposed increases in excise duties on various services. A central concern lies in the potential rise in costs for phone calls, internet data, and money transfers. The National Treasury recommends raising the excise duty on…

United States Ambassador to Kenya Meg Whitman believes that a revitalized manufacturing sector has the potential to propel Kenya to the position of Africa's economic powerhouse. Currently, manufacturing contributes only 7.2% to Kenya's GDP, but Ambassador Whitman sees significant room for growth…

Kenya Airways (KQ) has announced the suspension of its flights to Kinshasa, the capital city of the DRC. This decision, slated to take effect from April 30, 2024, is a direct consequence of the ongoing detention of several Kenya Airways employees by the Military Intelligence Unit in Kinshasa. The…

The recent Global Youth Development Index (GYDI) for 2023 sheds light on Kenya's position in youth employment opportunities. While commendable efforts have been made by the Ruto administration to address unemployment, Kenya falls behind many of its East African neighbours. Although Kenya surpasses…

The Kenyan economy is currently navigating a period of heightened volatility in the foreign exchange market with the Shilling's performance directly impacting lending rates. This interplay between currency value and borrowing costs highlights the intricate relationship between micro and…

A months-long dispute between Kenya and Uganda in 2023 significantly impacted cargo movement through Mombasa Port. This rift decreased over 200,000 metric tonnes of cargo transiting through the port compared to the previous year. Notably, Uganda, historically the leading contributor to Mombasa's…

Kenya's tourism sector is facing friction between the government and hoteliers. Cabinet Secretary Alfred Mutua's recent criticism of hotel rankings has caused unease within the industry. Hoteliers fear these pronouncements will damage the reputation of an already struggling sector. Hotelier…