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IMF Ranks Kenya’s Business Environment as the Second Worst in the World
Business

IMF Ranks Kenya’s Business Environment as the Second Worst in the World

International Monetary Fund (IMF) has released a report ranking Kenya’s business environment as the second worst in the world behind Colombia. The World Uncertainty Index (WUI) attributed Kenya’s business uncertainty…

Jul 16, 2022
High Court Orders KRA to Reopen Keroche Breweries
Business

High Court Orders KRA to Reopen Keroche Breweries

The High Court has ordered Kenya Revenue Authority (KRA) to immediately reopen Keroche Breweries Ltd pending the hearing and determination of a tax dispute between the two parties. The order was issued on Friday after…

Jul 16, 2022
Kenya, US Launch a Strategic Trade and Investment Partnership
Business

Kenya, US Launch a Strategic Trade and Investment Partnership

Kenya and the US have launched a Strategic Trade and Investment Partnership (STIP) to replace an agreement President Donald Trump's administration had inked with Nairobi. Under the STIP, the two states will start work…

Jul 15, 2022
Cash-Strapped Moi University to Lay Off Hundreds of Workers
Business

Cash-Strapped Moi University to Lay Off Hundreds of Workers

Moi University has announced plans to lay off hundreds of its workers as part of measures to cut costs and keep the institution afloat. Vice-Chancellor Prof. Isaac Kosgey in a notice said the university’s wage bill ha…

Jul 5, 2022
Kenya Eyes 482-kilometer Expressway to Connect Nairobi and Mombasa
Business

Kenya Eyes 482-kilometer Expressway to Connect Nairobi and Mombasa

The government of Kenya has commenced talks to construct a 482-kilometer expressway that will connect Nairobi and Mombasa cities. This follows a pre-feasibility study carried out by the Korean Overseas Infrastructure…

Jun 30, 2022
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Wealthy Investors to be Given Idle Kenya Gov't Land for Large-Scale Farming
Business

Wealthy Investors to be Given Idle Kenya Gov't Land for Large-Scale Farming

The Ministry of Agriculture says investors interested in idle government land to carry out large-scale commercial farming must show their financial muscle. This comes after the Cabinet last month approved a policy tha…

Jun 28, 2022
Kenya Signs a Deal to Import Cheaper Fuel from Saudi Arabia
Business

Kenya Signs a Deal to Import Cheaper Fuel from Saudi Arabia

The imports will be used in providing strategic stocks for the country and cushion the country from a fuel shortage due to global disruptions.  The National Oil Corporation of Kenya (NOCK) will from August start impor…

Jun 28, 2022
Kenya Airways Signs a Deal to Acquire 40 Flying Electric Taxis from Brazil
Business

Kenya Airways Signs a Deal to Acquire 40 Flying Electric Taxis from Brazil

Kenya Airways (KQ) has signed a deal with two Brazilian companies to acquire 40 flying electric taxis as it seeks to establish itself as a leader in urban air mobility. Through its subsidiary Fahari Aviation, the nati…

Jun 22, 2022
KRA Officials to Start Wearing Body Cameras in a Bid to Curb Bribery
Business

KRA Officials to Start Wearing Body Cameras in a Bid to Curb Bribery

Kenya Revenue Authority (KRA) has announced that its officials will start using body-worn cameras as part of its efforts to curb cases of tax cheating and bribery. KRA Commissioner General Githii Mburu told Business D…

Jun 22, 2022
Keroche Breweries to Lay Off over 400 Workers Following Closure by KRA
Business

Keroche Breweries to Lay Off over 400 Workers Following Closure by KRA

Keroche Breweries has announced it will lay off over 400 employees following its closure by the Kenya Revenue Authority (KRA) over tax arrears. The Naivasha-based beer manufacturer was shut down on May 15th after defa…

Jun 20, 2022
Kenya Listed Among WorldRemit’s Top Markets in Africa
Business

Kenya Listed Among WorldRemit’s Top Markets in Africa

London-based global digital payments giant WorldRemit has named Kenya among its top African markets. On Friday, the company which provides international money transfer and remittance services in more than 130 countrie…

Jun 19, 2022
KRA Shuts Down Keroche Breweries Again in Renewed Tax Dispute
Business

KRA Shuts Down Keroche Breweries Again in Renewed Tax Dispute

The Kenya Revenue Authority (KRA) has once again shut down Keroche Breweries Limited over tax arrears. Keroche CEO Tabitha Karanja says the company was shut down on May 15th after reneging on an earlier agreement to r…

Jun 14, 2022
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Kenya, US Agree to Expedite Trade Discussions
Business

Kenya, US Agree to Expedite Trade Discussions

Trade representatives from Kenya and the United States on Monday held further discussions aimed at enhancing trade and investment relations between the two countries. This followed a meeting between US Trade Represent…

Jun 14, 2022
Kenya to Resume Miraa Exports to Somalia After a Two-Year Ban
Business

Kenya to Resume Miraa Exports to Somalia After a Two-Year Ban

Kenya is set to resume miraa exports to Somalia this month following the lifting of a two-year ban. Somalia’s new President Hassan Sheikh Mohamud agreed to lift the embargo after diplomatic talks with his Kenyan count…

Jun 10, 2022
Court Bars KCB Bank from Seizing Lavish English Point Marina Hotel over Sh4.8 Billion Debt
Business

Court Bars KCB Bank from Seizing Lavish English Point Marina Hotel over Sh4.8 Billion Debt

The High Court has stopped the Kenya Commercial Bank (KCB) from seizing the luxurious English Point Marina Hotel in Mombasa over a debt amounting to Sh4.8 billion. Justice Dorah Chepkwony issued the restraining order…

Jun 9, 2022
Safaricom and Visa Launch MPesa GlobalPay Visa Virtual Card
Business

Safaricom and Visa Launch MPesa GlobalPay Visa Virtual Card

Safaricom and American digital payments company Visa have signed a deal that will allow MPesa customers to pay for goods and services in more than 200 countries. The deal led to the launch of the MPesa GlobalPay Visa…

Jun 8, 2022
Raila Pledges to Ban Mitumba Clothes If Elected President
Business

Raila Pledges to Ban Mitumba Clothes If Elected President

Azimio La Umoja-One Kenya coalition presidential candidate Raila Odinga has revealed plans to ban the importation of second-hand clothes, commonly known as mitumba, if he ascends to power this year. Odinga, who is giv…

Jun 7, 2022
Pwani Oil Shuts Down Cooking Oil Plant Due to Shortage of US Dollars
Business

Pwani Oil Shuts Down Cooking Oil Plant Due to Shortage of US Dollars

Pwani Oil has temporarily shut down its cooking oil plant due to a shortage of raw materials which it blamed on challenges in accessing dollars to pay suppliers on time. Pwani Oil Commercial Director Rajul Malde told…

Jun 6, 2022
Meta Appoints Kenyan Kendi Ntwiga as Global Head of Misrepresentation
Business

Meta Appoints Kenyan Kendi Ntwiga as Global Head of Misrepresentation

Kenyan IT business leader Kendi Ntwiga has been appointed the Global Head of Misrepresentation at Meta based in Ireland. Kendi assumed the role last month after leaving American tech giant Microsoft where she served a…

Jun 6, 2022
Nairobi Expressway Users Warned Against Paying Toll Fees to Attendants Via MPesa
Business

Nairobi Expressway Users Warned Against Paying Toll Fees to Attendants Via MPesa

The operator of the Nairobi Expressway has warned motorists against paying toll fees to toll attendants through MPesa. Moja Expressway, a subsidiary of the China Road and Bridge Corporation (CRBC) which is responsible…

Jun 3, 2022
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