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UK Suspends Tariffs on Kenyan Cut Flowers

The Kenyan horticulture industry has secured a positive development with the UK's temporary removal of the Global Tariff (UKGT) on cut flowers. This two-year suspension, announced by the British High Commission, aims…

Apr 11, 2024

Business

The Kenyan Shilling Gains Strength Against the US Dollar

The Kenyan shilling displayed remarkable resilience against the US dollar on Tuesday, trading at a favourable rate of 127 shillings to the dollar. This positive development marks a significant improvement from its wea…

Apr 9, 2024

Business

Bank of Kigali Concludes Kenyan Operations, Shifts Focus to Digital Strategy

The Bank of Kigali (BoK), Rwanda's leading commercial bank, has effectively concluded its operations in Kenya as of April 2, 2024. This decision follows a strategic shift by the bank's parent company Bank of Kigali Gr…

Apr 5, 2024

Business

Sh75 Billion Tax Hurdle Delays M-Pesa's Separation from Safaricom

Kenya's plan to divide the giant telecommunications provider Safaricom and its mobile money arm M-Pesa has encountered a hurdle due to a substantial tax implication. The Central Bank of Kenya (CBK) has revealed that t…

Apr 5, 2024

Business

Kenyan Buyers to Benefit from Japanese Used Car Auction in Naivasha

The Special Economic Zones Authority (Seza), led by CEO Dr Kenneth Chelule, is gearing up for the highly anticipated launch of an auction for Japanese used cars in Naivasha, Nakuru County. This initiative, scheduled t…

Apr 2, 2024

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Business

Shilling Bounces Back, Recoups Half the Value Lost

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 imp…

Mar 31, 2024

Business

JKIA Introduces New Luggage Delivery Service and Announces Expansion Plans

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 pass…

Mar 31, 2024

Business

Kenya Government to Establish Commercial Centers in the US and Other Major Markets

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, outli…

Mar 26, 2024

Business

Kenya Airways, Virgin Atlantic Partner in Codeshare Deal

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…

Mar 22, 2024

Business

Kenyan Shilling Surges Against Dollar to Trade at Sh133

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 exch…

Mar 19, 2024

Business

Kenya's Booming Shilling Pinches Remittance Inflows

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 high…

Mar 17, 2024

Business

Kenya Airways Announces Nine Weekly Flights to New York

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…

Mar 16, 2024

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Business

Petrol Prices Fall Sh7 as Kenya Shilling Strengthens

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 strength…

Mar 14, 2024

Business

Kenya to Review Rental Income Tax System in Upcoming Budget

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…

Mar 3, 2024

Business

Kenyans React to the Launch of the East African Sheafra Currency

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…

Mar 3, 2024

Business

Kenya Placed on Grey List for Anti-Money Laundering

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 d…

Feb 23, 2024

Business

Renewed Hope for Farmers as Ovacado Exports Resume

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 Directora…

Feb 16, 2024

Business

Kenyan Shilling Surges Against Dollar, Signals Strong Investor Sentiment

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 c…

Feb 15, 2024

Business

Naivas Row: Inheritance Dispute Sparks Legal War Among Siblings

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…

Feb 5, 2024

Business

Dollar Loan Defaults Surge in Kenya Amidst Persistent Currency Shortage

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, transportati…

Jan 22, 2024