BUSINESS NEWS

The Kenyan shilling's recent appreciation offers a sigh of relief for consumers and businesses alike. As a net importer, Kenya has long grappled with the challenges of a weak currency, which translates into higher import costs. However, the shilling's significant 19% gain in just two months has…

Jomo Kenyatta International Airport (JKIA) has launched a new service known as Airport Mtaani in a move designed to enhance traveller convenience. This initiative streamlines the luggage claim process by allowing passengers to bypass baggage claims entirely and proceed directly to their destination…

The Kenyan government has unveiled an ambitious plan to establish a network of commercial centres around the world, aiming to propel the nation's economic growth and expand its export footprint. This initiative, outlined in the Fourth Medium Term Plan (MTP IV) 2023-2027, stresses the government's…

Kenya Airways (KQ) and Virgin Atlantic have signed a codeshare agreement in a strategic move to bolster their presence in domestic, African, and international markets. This collaborative effort grants Virgin Atlantic the ability to place its code on KQ's London flights. This, in turn, provides…

The Kenyan Shilling has exhibited remarkable strength against the US dollar in recent weeks. This positive development has ignited optimism for a potential economic recovery in Kenya. As of March 19, the official exchange rate stood at 133.99 Shillings per dollar, according to the Central Bank of…

Kenyans abroad sent home $385.9 million (Sh52.2 billion) in February. While this represents a decrease of 6.4% compared to the record-breaking January inflow, it still reflects a 24.8% increase year-on-year. This highlights the continued importance of diaspora remittances to the Kenyan economy. The…

Kenya Airways is strategically scaling up its operations to cater to the burgeoning travel industry. This expansion is twofold, with the airline adding new flights to its popular New York route and resuming service to previously suspended destinations. To accommodate the surge in travellers…

The Energy and Petroleum Regulatory Authority (Epra) has announced a decrease in fuel prices for the fifth consecutive month, bringing much-needed relief to Kenyan motorists. This reduction is attributed to a strengthening Kenyan shilling which has rebounded significantly from its all-time low of…

Through the National Treasury, the Kenyan government has announced its intention to review the taxation of rental income from residential properties in the recently released 2024 Budget Policy Statement. This decision follows public consultations where citizens actively voiced their concerns and…

A significant step has been taken towards economic integration in East Africa, with the official unveiling of the East African Sheafra (SHF). The planned common currency will be relevant for the East African Community (EAC) member states: Kenya, Uganda, Tanzania, Rwanda, Burundi, the Democratic…