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US Gov't Lists Trade Pact with Kenya on Its 2023 Agenda

US President Biden’s administration has included the proposed bilateral trade pact with Kenya in its 2023 agenda. In the 2023 Trade Policy to Congress on March 1st, the Office of the United States Trade Representative…

Mar 6, 2023

Business

Gov’t Seeks a Strategic Partner to Buy Out Kenya Airways Sh170 Billion Debt

Transport Cabinet Secretary Kipchumba Murkomen says the government is still looking for a strategic partner to buy out Kenya Airways’ Sh170 billion debt. Appearing before the Senate Transport and Infrastructure Commit…

Mar 4, 2023

Business

Three Kenyans Sue Safaricom for Sh305 Billion Over Fuliza Overdraft Service

Three Kenyan MPesa users have filed a lawsuit against Safaricom over its Fuliza overdraft facility. Gichuki Waigwa, Lucy Nzola, and Godfrey Okutoyi claim Fuliza uses money belonging to non-borrowing MPesa users and th…

Mar 3, 2023

Business

Safaricom Shareholders to Receive a Sh23.4 Billion Dividend Payout

Safaricom has announced a Sh23.4 billion dividend payout for its stakeholders, which is equal to Sh0.58 per ordinary share. In a statement on Monday, the giant telco said its board approved the payout following a meet…

Feb 27, 2023

Business

CS Moses Kuria Offers to Help China Square Owner to Set Up a Manufacturing Plant in Kenya

Trade Cabinet Secretary Moses Kuria has announced he will help the owner of China Square to set up a manufacturing plant in Kenya. Through Twitter, Kuria said this will enable the Chinese investor to work in partnersh…

Feb 26, 2023

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Trade CS Moses Kuria Wants China Square to Exit the Kenyan Market

Investments, Trade and Industry Cabinet Secretary Moses Kuria wants the now popular China Square on Thika Road to exit the Kenyan market. Through Twitter on Friday night, Kuria said he has made an offer to buy out the…

Feb 25, 2023

Business

Username Investments Donates Sh500,000 Towards Education Sponsorship

Username Investment Ltd. recently donated Kshs 500,000 in support of needy but bright students sponsored under Affecto Foundation. The event was held at Affecto Foundation Head Office in Ruiru. “For 4 years now, Usern…

Feb 23, 2023

Business

JPMorgan Chase to Set Up a Regional Office in Nairobi

American multinational financial services company JPMorgan Chase will set up a regional office in Nairobi. This was announced by President Ruto after holding talks with Daniel Zelikow, the Vice-chairman and Global Hea…

Feb 22, 2023

Business

Amazon’s Smart Home Security Company Ring Enters the Kenyan Market

American company Ring has inked a partnership with Nairobi-based tech company Mart Networks to introduce smart home security devices to the Kenyan market. The deal signed on Thursday will see Mart Networks deliver hom…

Feb 17, 2023

Business

US Issues Kenya a Default Notice for Sh57 Billion Kenya Airways Debt

The Exim Bank of the USA has slapped the Treasury with a default notice for delayed payment of a Sh57.8 billion loan that the government guaranteed Kenya Airways (KQ). Treasury Principal Secretary Chris Kiptoo told Pa…

Feb 15, 2023

Business

Kenyan and US Officials to Hold Discussions on Strategic Trade and Investment Partnership

Trade representatives from Kenya and the US are set to hold an in-person first round of conceptual discussions under the Strategic Trade and Investment Partnership (STIP) in Washington, DC, from February 6th to 10th…

Feb 6, 2023

Business

Kenya Airways Issues a Full Year Profit Warning

Kenya Airways (KQ) has announced that its net earnings for the year ending December 31st, 2022, will decline by at least 25 percent. In a profit warning notice to stakeholders, the KQ board said the drop was occasione…

Jan 28, 2023

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Gov’t Protests Dutch Airline KLM’s Claims of Civil Unrest in Kenya

Kenya is set to lodge a formal complaint with the Netherlands after the country’s flag carrier airline KLM canceled flights to Kenya and Tanzania citing fears of ‘civil unrest’. Transport Cabinet Secretary Kipchumba M…

Jan 28, 2023

Business

US Gov’t Funds Construction of a Sh3.7 Billion Data Center in Nairobi

The United States government has committed $30 million (Sh3.7 billion) for the expansion of a data center in Nairobi. Africa Data Centres (ADC) broke ground on the project at its data centre facility in Sameer Busines…

Jan 23, 2023

Business

Detectives Arrest Six Suspects Manufacturing Fake KRA Stamps in Nairobi

Detectives in Nairobi have arrested six suspects in connection with the production of fake Kenya Revenue Authority (KRA) stamps. The suspects, Peter Mburu, James Kigera, Frankline M’Mburia, Mary Wanjiku, Titus Ndegwa…

Jan 18, 2023

Business

Elon Musk's Company Set to Launch Satellite Internet Service in Kenya

American satellite internet provider Starlink has announced it will launch in Kenya in the second quarter of this year. Starlink, which is owned by US billionaire Elon Musk, said it is “pending service coverage or reg…

Jan 13, 2023

Business

East African Community to Have a Single Currency By 2027

The East African Community (EAC) is currently working on a plan to have a common currency by 2027. The announcement was made by the regional bloc’s Secretary-General Dr. Peter Mathuki during a five-day retreat for all…

Jan 13, 2023

Business

Kenya Airways Blames Ukraine-Russia War for Ongoing Flight Disruptions

Kenya Airways (KQ) has issued a statement regarding the flight disruptions currently being experienced by the airline. KQ CEO Allan Kilavuka said the disruptions were a result of delays in getting back its aircraft wh…

Jan 9, 2023

Business

Kenya Airways’ Shares Trading Freeze Extended for Additional 12 Months

The Capital Markets Authority (CMA) has announced the extension of the share trading freeze on Kenya Airways (KQ) for a further 12 months. In a statement on Wednesday, the capital markets regulator said the extension…

Jan 4, 2023

Business

The Iconic Hilton Hotel Nairobi Closes Its Doors After 53 Years

The iconic Hilton Hotel in Nairobi’s central business district has shut its doors permanently after 53 years of operation. In April last year, International Hotels Kenya Limited which manages the hotel announced the f…

Jan 1, 2023