BUSINESS NEWS
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The World Bank has approved a Sh32 billion increase in Kenya’s loan request, with the country now set to receive $1 billion (Sh129 billion) in budgetary support by June 30th.
The disbursement, under the Development Policy Operations (DPO) facility, will provide Kenya with additional resources to…
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Women Founders Africa Program has selected five Kenyan startups for the inaugural Google for Startups Accelerator program.
The 12-week program is aimed at empowering and supporting women founders across the continent by providing adequate and relevant resources and opportunities to help their…
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Kenya has inked a deal with Saudi Arabia and the United Arab Emirates (UAE) to import oil products on credit terms for six months.
Nation reports that the deal was sealed on Friday after the government floated a tender seeking bids for the supply of diesel and super petrol products.
The…
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20 Kenyan-based fashion start-ups have been selected for the third class of the British Council’s Creative DNA Program.
Launched in 2020, the program is funded by the Foreign Commonwealth Office to develop skills, knowledge, and global networks for local fashion designers.
The British Council said…
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The government is seeking the World Bank’s support to fund the Kenya Digital Superhighway Project.
On Monday, ICT Cabinet Secretary Eliud Owalo held consultations with World Bank officials led by Isabel Neto, Eastern Africa’s Digital Development Sector Director, and Dr. Tim Kelly, Lead ICT Policy…
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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 said it expects to “make rapid progress” in negotiating 11 pillars of the…
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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 Committee on Friday, Murkomen said the exchequer plans to stop funding for the national…
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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 that Safaricom is engaged in banking and financial business despite not being a bank…
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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 meeting on February 24th.
“The Board of Safaricom PLC is pleased to announce that at…
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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 partnership with local traders from Gikomba, Nyamakima, Eastleigh, Kamukunji, Muthurwa, and…