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Business

Chris Kirubi's Son-In-law to Take Control of Centum, His Multi-Billion-Shilling Real Estate Company

Andrew Musangi, the son-in-law of the late businessman Chris Kirubi is poised to take over control of the deceased’s real estate company - Centum Real Estate. Musangi, who is the husband of Kirubi’s only daughter Mary…

Jul 7, 2021

Business

Nakuru Hotels Report 100% Bookings Courtesy of WRC Safari Rally Event

The hotel industry in Nakuru County has reaped big from the ongoing World Rally Championships (WRC) Safari Rally Kenya. Hotels in Naivasha, Nakuru, and Elementaita have reported 100 percent bookings courtesy of local…

Jun 25, 2021

Business

Over 3.8 Million Kenyans File Tax Returns Ahead of June 30th Deadline

Kenya Revenue Authority (KRA) says more than 3.8 million Kenyans had filed their tax returns as of June 20th. This represents a 20 percent growth compared to 3.1 million returns filed by the same date last year. Grace…

Jun 23, 2021

Business

Kenya Airways Signs Expanded Codeshare Deal with Delta Airlines

Kenya Airways (KQ) has signed an expanded code-share agreement with US-based Delta Airlines, opening up new destinations for the two airlines. Through its nonstop flights from Nairobi to New York, Kenya Airways is exp…

Jun 22, 2021

Business

Billionaire Manu Chandaria Loses Company over Sh4.3 Billion Debt

A company linked to billionaire Manu Chandaria has been placed under receivership over a Sh4.3 billion debt. Kaluworks Limited, which is part of Chandaria’s Comcraft Group was placed under receivership by the NCBA Gro…

Jun 21, 2021

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Business

Cytonn Investments is Not a Licensed Entity, CMA Says

The Capital Markets Authority (CMA) has opened a probe against Cytonn Investments following numerous complaints from investors. The regulator said it is looking into Cytonn High Yield Solutions (CHYS) and Cytonn Proje…

Jun 19, 2021

Business

Kenya Airways to Resume Direct Flights to London

Kenya Airways (KQ) is slated to resume flights to and from the UK on June 26th after a two-month hiatus. The restart of direct flights between London’s Heathrow Airport and Jomo Kenyatta International Airport (JKIA) f…

Jun 19, 2021

Business

World Bank Approves Sh81 Billion Loan to Support Kenya’s COVID-19 Recovery

The World Bank has approved a loan of $750 million (Sh81 billion) to Kenya to support the country’s economic recovery from the COVID-19 pandemic. The international lender said the development policy operation (DPO) lo…

Jun 12, 2021

Business

Paradise Beach Resort in Kikambala on Sale for Sh800 Million

The Paradise Beach Resort in Kikambala, Kilifi County has been put up for sale. Owners of the popular hotel are looking to sell the establishment for a staggering price of Sh800 million, according to Nation. Paradise…

Jun 9, 2021

Business

KLM to Launch Direct Flights to Mombasa

KLM is set to launch direct flights to Mombasa in October targeting leisure travelers. The move is part of its plan to strengthen its presence in East Africa. The October 31st launch will come a month after the termin…

May 28, 2021

Business

Billionaire Narendra Raval Bids Sh5 Billion to Revive Mumias Sugar

Billionaire Narendra Raval has revealed plans to invest Sh5 billion in reviving Mumias Sugar Company. The tycoon plans to spend Sh4 billion on upgrading the rundown milling plant while Sh1 billion will be used to woo…

May 24, 2021

Business

Japanese in Kenya Exempted from Paying Income Tax

The National Assembly on Wednesday passed a motion seeking to exempt Japanese companies, employees, and consultants from paying income tax. This came after the Parliamentary Committee on Delegated Legislation tabled a…

May 20, 2021

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Business

President Uhuru Woos American SMEs to Invest in Kenya

President Kenyatta has invited American Small and Medium Enterprises (SMEs) to invest in Kenya through partnerships with their Kenyan counterparts. Speaking during a virtual US Chamber of Commerce Global Leaders’ Foru…

May 19, 2021

Business

Uganda Signs Sh5 Billion Deal with Chinese Company to Link Railway to Kenya's SGR

Uganda has inked a Sh5 billion deal with China Roads and Bridge Corporation (CRBC) to rehabilitate its old meter gauge railway. Once revamped, the 260-kilometer century-old line will be linked to Kenya’s Standard Gau…

May 17, 2021

Business

Kenya Airways Signs Interline Pact with South Africa's Airlink

Kenya Airways (KQ) has signed an interline agreement with South Africa’s regional airline Airlink. The deal is expected to boost the national carrier’s reach in the South African region via the cities of Johannesburg…

May 8, 2021

Business

Nairobi Hospital Fires over 200 Workers After Graft Audit

The Nairobi Hospital has laid off over 200 workers as the facility moved to cut expenditure and clear out staff members implicated in a recent graft audit. In a statement, the privately-owned hospital said the fired w…

May 4, 2021

Business

Former Nakumatt CEO Atul Shah Loses Another Prime Property to Auctioneers

The court of appeal has declined to reverse the auction of a property belonging to Atul Shah, the CEO of collapsed retail chain Nakumatt. The property located in Nairobi’s Industrial Area was sold by KCB Bank last Nov…

May 3, 2021

Business

Kenya Airways Partners with UK Company to Launch Drone Operations in Kenya

Kenya Airways (KQ) is set to launch drone operations in the country as part of its plan to diversify income sources. The national carrier signed a memorandum of understanding (MoU) with UK-based logistics company Skyp…

May 2, 2021

Business

Kenya's Population of Billionaires Drops to 330, 4th Highest in Africa

Kenya has a total of 330 individuals with a net worth of at least $10 million (Sh1.08 billion), according to the 2020 Africa Wealth report by AfrAsia Bank. The figure represents a 7.31 percent drop compared to 2019 wh…

Apr 27, 2021

Business

Muguku Family Denies Reports of Planned Sale of Waterfront Karen Shopping Mall for Sh20 Billion

David Muguku, the managing director of The Waterfront Mall in Karen area has refuted reports that the property is up for sale. “The Waterfront Karen Shopping Mall and its surrounding property remain to be a long-term…

Apr 27, 2021