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Business

Safaricom Enters List of Top 10 Most Valuable Companies in Africa

Kenya’s giant mobile operator, Safaricom has been ranked among the 10 most valuable companies in Africa in 2020. A report by South African-based business magazine, African Business indicates that Safaricom value prese…

May 19, 2020

Business

Banks to be Fined Sh2 Million for Each Blacklisted Kenyan They Deny Loan

The National Treasury has introduced new regulations that will have banks, microfinance institutions, and Saccos fined Sh2 million for every borrower they deny a loan for being listed with credit reference bureau (CRB…

May 18, 2020

Business

Uhuru Gifts Rwanda Land in Naivasha to Build Dry Port for its Cargo

President Kenyatta has given Rwanda a parcel of land in Naivasha to build a dry port for its cargo, according to reports. The move is aimed at easing transportation of goods from the Mombasa seaport to Kigali as well…

May 16, 2020

Business

KRA Revives Sh2.8 Million Tax Row with Economist David Ndii

Kenya Revenue Authority (KRA) has launched a fresh bid to recover nearly Sh3 million in unpaid taxes from controversial Kenyan economist David Ndii. Business Daily reported on Friday, May 15th that KRA has notified th…

May 15, 2020

Business

IMF Approves Sh78 Billion Loan to Kenya to Aid in Covid-19 Response

The government’s response to the Covid-19 pandemic has received a boost after International Monetary Fund (IMF) Executive Board on Wednesday, May 6th, approved the disbursement of $739 million (Sh78.3 billion) to Keny…

May 7, 2020

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Business

American Companies Issue Conditions to Back Proposed US-Kenya Trade Deal

American companies operating under the International Intellectual Property Alliance (IIPA) are ready to back the proposed free trade agreement (FTA) between Kenya and the US but on certain conditions. The alliance, in…

May 4, 2020

Business

Kenya Airways Rakes in Sh214 Million in a Month from Cargo Business Amid Covid-19 Pandemic

Kenya Airways raked in Sh214 million from its cargo business in the month of April 2020. This comes after the government banned all international passenger flights on March 22nd as part of the measures to contain the…

May 1, 2020

Business

Safaricom Records Sh74.7 Billion Profit

Kenya’s giant mobile network operator, Safaricom has recorded a net profit of Sh74.7 billion for the financial year ended March 31st, 2020. This represents a 19.5 percent growth compared to the company’s earnings in t…

Apr 29, 2020

Business

Kenyan-Made Ventilators Receive Government Approval, Paving Way for Mass Production

The government has approved prototypes of Kenyan-made ventilators, paving the way for mass production of the life-saving medical equipment. The ventilators developed by Kenya Association of Manufacturers’ (KAM) automo…

Apr 21, 2020

Business

Kenya Airways Converts Passenger Planes into Cargo Freighters Amid Covid-19 Crisis

Kenya Airways (KQ) has announced it is converting some of its grounded passenger flights into cargo freighters. KQ said the move is aimed at keeping the airline in operation amid the coronavirus pandemic, which has co…

Apr 12, 2020

Business

Meet Ogutu Okudo, the Only Kenyan in 2020 Forbes Africa Top 30 Under 30 List

A 28-year-old Kenyan woman has made it to the 2020 Forbes Africa top 30 under 30 list released this month. Ogutu Okudo, who is the founder and CEO of Women in Energy & Extractives Africa, was recognized for her immens…

Apr 7, 2020

Business

Peter Ndegwa Officially Takes Over as the New Safaricom CEO

Peter Ndegwa on Wednesday, April 1st, officially took over as the new CEO of Safaricom following his appointment last year. Ndegwa was appointed to the position in October last year to replace former CEO Bob Collymore…

Apr 1, 2020

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Business

Kenyan Tycoon Chris Kirubi to Buy Sh2.7 Billion Worth of Shares in Centum

Kenyan billionaire businessman Chris Kirubi is set to spend Sh2.7 billion to acquire 133 million more shares in Centum Investment Company. This will raise the tycoon’s stake in Centum Investment from the current 30 pe…

Mar 26, 2020

Business

Kenya Suspends Importation of Second-Hand Clothes Due to Covid-19 Pandemic

Kenya has suspended the importation of second-hand clothes, locally known as ‘mitumba’, due to the global coronavirus outbreak. In a statement on Wednesday, the Ministry of Trade, Industry, and Cooperatives said the m…

Mar 25, 2020

Business

US, Kenyan Companies Invited to Make Views on the Proposed US-Kenya Trade Deal

President Trump’s administration has invited American and Kenyan companies to submit their views on the proposed free trade agreement between the US and Kenya. This comes as the two countries prepare to open formal ne…

Mar 24, 2020

Business

20 FREE One-Way Kenya Airways Tickets from JFK to JKIA for Travel on Tuesday, March 24th

Need to travel from the US to Kenya right away? Kenya Airways has a total of twenty (20) complimentary one-way tickets from JFK International Airport in New York to JKIA International Airport in Nairobi for travel on…

Mar 23, 2020

Business

Kenyans to Enjoy High-Speed Internet as Gov't Allows Google Loon to Fly Balloons over Kenyan Airspace

Kenyans are set to enjoy high-speed and affordable internet courtesy of Google Loon in partnership with Telkom Kenya. This comes after the Kenya Civil Aviation Authority (KCAA) signed an agreement with Google Loon, al…

Mar 23, 2020

Business

Kenya Airways Staff to Take Huge Pay Cuts as Coronavirus Bites

Kenya Airways has announced its top officials, including the CEO, will take huge pay cuts effective April 1st as the airline fights to stay afloat in the wake of coronavirus pandemic. KQ CEO Allan Kilavuka in a letter…

Mar 21, 2020

Business

Trump Informs US Congress of Plans to Commence Trade Talks with Kenya

The start of talks on a free trade agreement between Kenya and the United States is inching closer after President Trump sent a notification to the Congress regarding the matter. Trump revealed the intention to open n…

Mar 19, 2020

Business

Relief for Kenyan Borrowers as Banks Agree to Extend Loan Repayment By 12 Months

Following the coronavirus outbreak, commercial banks operating in Kenya have agreed to prolong repayment of personal loans by up to 12 months. Central Bank of Kenya (CBK) Governor Dr. Patrick Njoroge on Wednesday said…

Mar 18, 2020