BUSINESS NEWS

 President William Ruto has struck a deal to export tea, coffee, avocado and pineapple to Israel starting June this year. This development comes after the head of state concluded a two-day official visit to Israel on Wednesday. While attending the Israel Investor Roundtable Forum in Tel Aviv,…

Ethiopia has licenced Safaricom's Mpesa to operate in the diverse and unbanked nation.  Safaricom anticipates outstretching Mpesa services in the region before 2024 in a bid to boost the service profile across the continents. The Telco's chief executive officer Peter Ndegwa during an investor…

Ethiopia has surpassed Tanzania and Uganda as the leading destination for Kenya's investment abroad, propelled by growth in the neighbouring market.  Kenya's direct investments in Ethiopia stood at Sh60.2 billion in 2021 ahead of outward direct investments of Sh51.5 billion and Sh56.3 billion…

Kenya is seeking yet another financing from the International Monetary Fund as the International lender is embarking on its mission in the country this week.  Kenya seeks to foster economic resilience and solve balance of payment issues through IMF Resilience and Sustainability Facility. IMF…

Little-known Kenyan firms providing digital services in trade facilitation, agriculture and healthcare have emerged as the fastest-growing businesses in Africa, according to a new report that ranks Nairobi as the third-largest home for the quickest-expanding companies in the continent. The…

Kenya Airways (KQ) and China Southern Airlines (CZ) have renewed their interline agreement which was suspended following the Covid-19 outbreak in 2020. The deal will restore connectivity for KQ and CZ passengers to points on the respective carriers’ networks via Nairobi, Guangzhou and Shanghai…

Econews Africa and the Kenya Small Scale Farmers Forum have called for the suspension of the ongoing trade negotiations between Kenya and the US, terming them dangerous.  Econews Executive Director Edgar Odari demanded that the government halts the talks until a stakeholders’ consultation is…

Kenya Airways (KQ) has posted a Sh38.2 billion net loss for the full year ending December 31st, 2022, the worst-ever loss in the airline’s history. The loss grew 58.2 percent from Sh16 billion in a similar period in 2021, surpassing the Sh36.2 billion loss it reported in 2020 when the Covid-19…

Kenya’s Equity Group has been ranked among the strongest banking brands globally. Equity jumped one place to fourth position in the World’s Top 10 Strongest Banking Brands, according to the 2023 Brand Finance’s Brand Strength and Brand Value rankings. The Kenyan financial services company achieved…

Kenyan tea farmers are set to earn more from the export of tea to Pakistan after the South Asian nation declared the commodity an essential import. The country exports about 50% of its tea to Pakistan, making it the world's largest importer of Kenyan tea. Pakistan’s Ministry of Commerce confirmed…