AdvertisementTop banner · 970×90 / 728×90

Business

Flight Price Could Rise by 40pc, Warns Kenya Association of Air Operators

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…

Jun 4, 2024

Business

Kenyan Shilling Defies Global Trends, Maintains Value Against US Dollar

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)…

Jun 3, 2024

Business

Kenya's Inflation Rate Soars to 5.1%

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 i…

May 31, 2024

Business

BAT Increases Payout to Retain Dwindling Farming Workforce

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 o…

May 27, 2024

Business

Residents Raise Issues Prior to Tea Estate's Impending Sale

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 Sout…

May 25, 2024

AdvertisementIn-feed ad

Business

Dangerous Aflatoxin Levels Found in Popular Kenyan Flour Brand

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 f…

May 15, 2024

Business

Slow Internet Connections Likely to Persist, Communications Authority of Kenya Warns

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 disruption…

May 13, 2024

Business

Products Exempted From Tax In Proposed Finance Bill 2024

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…

May 12, 2024

Business

Proposed Tax Reforms in Kenya's 2024 Finance Bill Draw Criticism

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 mo…

May 11, 2024

Business

US Ambassador to Kenya Meg Whitman Envisions Kenya as Africa's Singapore

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 on…

May 6, 2024

Business

Kenya Airways Suspends Flights To Kinshasa

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 se…

Apr 29, 2024

Business

Kenya Lags Behind East African Peers in Employment Ranking

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…

Apr 28, 2024

AdvertisementIn-feed ad

Business

Kenyan Banks Tighten Credit as Shilling Weakens

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 b…

Apr 22, 2024

Business

How Kenya-Uganda Diplomatic Rift Disrupted Mombasa Port Cargo Flow

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 pr…

Apr 20, 2024

Business

Comment on Hotel Rankings Counterproductive, Hoteliers Tell CS Mutua

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 pronounce…

Apr 19, 2024

Business

Investing in Kenya? A Guide to Corporate Tax Rates and Regulations

The concept of taxation has a long history dating back to ancient civilizations. In Kenya, a more formal tax structure emerged during the colonial era with the Income Tax Act of 1973 establishing the current framework…

Apr 19, 2024

Business

Electricity Cost Drops by 14pc in Kenya Amid Boost in Generation

Heavy rains have caused water levels at Masinga Dam, Kenya's largest hydropower reservoir, to surge past capacity. This presents both an opportunity and a challenge for the country. On the positive side, the increased…

Apr 19, 2024

Business

The Rise of KDF's Supermarket Chain Generating Sh1 Billion in Turnover

The Kenya Defence Forces (KDF) established the Defence Forces Canteen Organization (DEFCO) in 1973, initially known as the Armed Forces Canteen Organization (AFCO). Over the past five decades, DEFCO has grown into a c…

Apr 16, 2024

Business

Six Kenyan Companies Among Africa's Billion-Dollar Enterprises

A recent report by the McKinsey Global Institute sheds light on the landscape of large companies in Africa. Kenya emerges as a front-runner in East Africa, boasting six companies generating over Sh130.5 billion (USD1…

Apr 15, 2024

Business

Kenyan Startup Draws Billions from Former Google, Netflix CEOs

Kenyan cleantech startup SunCulture has secured significant funding with a portion coming from two former CEOs of global tech giants. This investment reflects the growing importance of innovation in tackling food secu…

Apr 11, 2024