BUSINESS NEWS

President Ruto will seek strategic foreign investors to buy a controlling stake in Kenya Airways (KQ) during his current trip to the United States, Transport Cabinet Secretary Kipchumba Murkomen has said. Murkomen said this is part of the Kenya Kwanza administration’s plan to turn around the loss-…

President Ruto on Wednesday launched the first phase of the Hustlers Fund, one of the key campaign pledges of the Kenya Kwanza administration. To access cheap loans under the Hustlers Fund, Kenyans will only need to dial *254# or use the mobile app platforms of mobile network operators, Safaricom,…

Pubs, Entertainment, and Restaurant Association of Kenya (PERAK) has said the recent ban on nightclubs in Nairobi will lead to massive job losses. The association warned that at least 23,000 full-time and temporary workers earning over Sh880 million per month will be rendered jobless after Nairobi…

Telecommunications giant Safaricom on Saturday launched a new financial product for teens and preteens aged between 10 and 17. Dubbed M-Pesa Go, the new service seeks to empower parents and guardians to raise a financially healthy generation who are prepared for a cashless world, as well as improve…

Nairobi Governor Johnson Sakaja has refuted reports that land rates in the city county will double from January. Sakaja termed an article published by Business Daily on Friday as misleading, saying the county government is only adopting a new evaluation roll where rates are at 0.115 percent of the…

Nairobi Governor Johnson Sakaja has revoked the licenses of all nightclubs operating in residential areas following a public outcry over noise pollution. Sakaja said the county government will no longer issue or renew licenses for nightclubs in residential areas and those already in existence will…

Kenya and South Korea have agreed on a roadmap that will lead to a free trade agreement (FTA) between the two countries. This followed bilateral talks between South Korean Trade minister Dukgeun Ahn and Kenya’s Trade Cabinet Secretary Moses Kuria where the two agreed to enter into negotiations for…

Kenya has secured Sh120 billion from South Korea to fund various development projects including the Sagana Industrial Park as well as the Dongo Kundu and Naivasha special economic zones. The funds will also go towards health, ICT and agriculture programs, technical training and vocational education…

MPs have demanded answers from the government after reports that a ship carrying 10,000 tonnes of imported maize docked at the port of Mombasa on Tuesday.  Citing a manifest from the Kenya Ports Authority (KPA), Business Daily reported that the maize consignment is onboard an African Merlin…

Google has announced it will remove mobile loan applications that do not comply with the Central Bank of Kenya (CBK) regulations. This comes after the American tech giant reviewed its policies on November 16th requiring all Digital Credit Providers (DCP) to register with the DCP and obtain a…