BUSINESS NEWS

Kenyan entrepreneur Mark Steve Nuguti was among the leaders feted during the just-concluded Pan African Youth Leadership Foundation Global summit in Dubai, United Arab Emirates (UAE). Steve, who is the CEO of Spoton Vacations, was presented with the Most Influential Youth Leader of the Year trophy…

Equity Bank Kenya and NALA Payments Limited have signed a partnership aimed at facilitating diaspora remittances. Equity Bank says the partnership with the United Kingdom and United States-licensed platform cements its position as the leading lender in supporting diaspora remittances. The…

Kenya Airways (KQ) and South African Airways (SAA) have signed a codeshare agreement that opens more destinations for seamless travel opportunities.  In a statement on Tuesday, Kenya Airways said the code-sharing agreement will see each airline sell, under its own code, flights operated by…

The International Monetary Fund (IMF) has approved the release of a $235.6 million (Sh28 billion) loan to Kenya for budgetary support. The disbursement is the third tranche of a 38-month budget support program inked in April 2021 and which seeks to address Kenya’s debt vulnerabilities, the response…

The African Development Bank Group (AfDB) Board of Directors has approved financing of $150 million (about Sh18 billion) to Kenya to support the development of the Nairobi-Mau Summit highway. The funding represents about 10 percent of the Sh180 billion required for the upgrade of the 190-kilometer…

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 to the rising political temperature in the country ahead of the August 9th general…

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 the two parties returned to court after the Naivasha-based beer manufacturer…

Kenya and the US have launched a Strategic Trade and Investment Partnership (STIP) to replace an agreement former President Donald Trump's administration had inked with Nairobi. Under the STIP, the two states will start work to develop a roadmap for engagement in 10 key areas among them agriculture…

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 has become unsustainable, noting that they spend up to 70 percent of the funds…

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 & Urban Development Corporation Africa (KIND) in collaboration with the Kenya…