BUSINESS NEWS
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The Financial Action Task Force (FATF) has placed Kenya on its "grey list" of countries deemed at increased risk of money laundering, terrorism financing, and proliferation of weapons of mass destruction.
While this designation raises concerns, it also highlights Kenya's ongoing efforts to address…
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In just two weeks, Kenya will once again begin exporting avocados, putting an end to the three-month suspension implemented by the Agricultural Food Authority (AFA).
In November 2023, the Horticultural Crops Directorate (HCD) enforced a suspension to ensure the quality of exported avocados was…
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Yesterday, the Kenyan shilling experienced its most significant intra-day increase against the US dollar in 12 years.
The local currency has experienced an unforeseen surge in value due to a sudden spike in investor confidence. This increase is a direct consequence of a substantial influx of funds…
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Amidst the towering aisles of Naivas, Kenya's premier supermarket chain, a familial storm brews over the legacy of its late founder, Peter Mukuha Kago.
The empire he founded now stands at the centre of a legal tussle as three of his children Newton Kagira Mukuha, Grace Wambui, and David Kimani…
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Firms and individuals who have taken out loans in US dollars are now struggling to repay them, leading to a dysfunction in the foreign exchange market.
Borrowers in various industries such as real estate, transportation, communication, and construction, as well as individuals, are facing challenges…
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Kenya did not make it into the top 20 fastest-growing economies in Africa Outlook 2024 ranking by Economic Intelligence (EIU), despite a projected GDP growth of 5.3%.
In contrast, Tanzania and Uganda, along with Rwanda, the Democratic Republic of Congo, and Ethiopia, were included in the list. The…
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Equity Bank Kenya Limited has introduced a new feature called Boostika Which allows customers to exceed their account balance by up to Sh100,000 in order to carry out transactions like shopping and purchasing airtime.
The introduction of Boostika by the bank means that it will now directly compete…
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Local employees of organizations with diplomatic agreements with Kenya, such as the United Nations, who have previously been exempt from paying taxes will now have Pay as you earn (PAYE) deducted from their monthly salaries by their employers.
The Ministry of Foreign and Diaspora Affairs issued a…
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Starbucks, a well-known coffee chain in the United States, is facing legal action from the National Consumers League.
According to the lawsuit, Starbucks engaged in unethical practices when sourcing coffee from Kenya, Brazil, and Guatemala. The advocacy group argues that the multinational…
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Despite the Central Bank of Kenya (CBK) raising interest rates to combat the weakening local currency, the Kenyan shilling has depreciated at a faster pace than expected.
Following the implementation of more stringent monetary measures on December 5th, the devaluation of the Kenyan shilling in…