BUSINESS NEWS

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 regulatory approval”. Business Daily reports that Kenyans can order and deposit $99 (…

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 EAC officials at Maanzoni Lodge in Machakos County. Mathuki noted that the EAC…

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 which are undergoing scheduled maintenance, adding that there has been a global…

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 is meant to allow the airline to complete its operational and corporate…

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 facility would cease operations on December 31st. “Following extensive discussions…

The United States has retained its place as the largest source country for international visitors to Kenya, accounting for 14.4 percent of all arrivals recorded between January and November. Kenya received a total of 1,321,887 international visitors during the January-November 2022 period, a 74.5…

Kenya Airways (KQ) has resumed daily nonstop flights between Nairobi and New York City amid growing demand for travel on the route during the festive season. The national carrier has grappled with a fluctuating demand on the route since the onset of the Covid-19 pandemic in early 2020, forcing it…

The International Monetary Fund (IMF) says it is monitoring challenges in accessing the US dollar in Kenya in a bid to determine the reasons behind the crisis. IMF said the availability of dollars in the forex interbank market has dried up, forcing banks to seek dollars from clients and resulting…

The International Monetary Fund (IMF) has approved a $447.39 million (Sh55.1 billion) loan to Kenya for budgetary support. This is the fourth tranche of the $2.34 billion (Sh288 billion) 38-month-long loan facility which was approved in April last year to support Kenya’s program to address debt…

President Ruto has confirmed he met officials of Delta Air Lines during his visit to the US, where he launched a bid to sell a controlling stake in Kenya Airways (KQ). Ruto, who was in Washington, DC for the US-Africa Leaders’ Summit hosted by President Biden between December 13th and 15th, held a…