BUSINESS NEWS

The IMF has issued a warning to Kenya and other Sub-Saharan countries regarding the potential impact of China's economic growth decline on their economies. Thursday's press release announced reduced levels of borrowing from China by Sub-Saharan countries, resulting in the need to seek other sources…

Several Korean companies have shown interest in investing in Kenya by capitalizing on the ongoing advancements in technology. The Korea Trade Development Agency (KOTRA) reports that three Korean companies have signed Memorandums of Understanding (MoUs) with Kenyan companies. Examples include Korea…

The Kenya Revenue Authority (KRA) has contacted Airbnb, the online platform for short and long-term homestays, in a bid to crack down on tax evasion among Kenyan hosts. Airbnb Ireland UC, acting as the data controller for Airbnb Kenya users, has received a request from the KRA for transaction data…

Quickmart has suffered a loss of Sh94 million in what appears to be a robbery that took place on Monday while the money was being ferried to the Nairobi city centre for banking. As of now, there are concerns over the whereabouts of the two Wells Fargo staffers responsible for transporting the funds…

Households have been cutting down on non-essential expenses due to rising costs. This is in line with a recent survey analyzing the behaviour of Kenyan consumers from April to June. The study by TransUnion revealed that over half of households reduced their spending on non-essential items in the…

The fiscal policy proposals of the Kenya Kwanza administration have faced criticism for their heavy reliance on taxation as a means of generating revenue. At Bomas of Kenya, the National Dialogue Committee convened an open discussion on the rising living costs with economic experts as panellists.…

The Kenya Revenue Authority (KRA) has provided further clarification regarding the taxation of goods brought into the country by passengers returning home. KRA has issued a revision to its previously declared statement that all goods worth Sh75,000($500) and above will be under taxation. In an…

According to the Central Bank of Kenya (CBK), the demand for foreign exchange in Kenya has consistently exceeded the supply, resulting in the depreciation of the Kenya Shilling. This depreciation has led to the currency crossing the Sh150 mark against the US dollar. Kamau Thugge, Governor of the…

Consumers are expected to face further financial distress as the Kenyan Shilling is projected to exceed Sh 160 against the dollar. Last week, Increased demand for the dollar resulted in a significant drop in the value of the shilling despite government efforts to stabilize it. Traders currently…

Nairobi's Kenyatta International Convention Centre (KICC) has emerged as the top choice for business events in Africa, clinching the prestigious World Travel Awards (WTA) five years in a row. KICC has triumphed over formidable foes from Nigeria, Ghana, Rwanda, Egypt, and South Africa to claim the…