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Covid-19: Safaricom Waives M-Pesa Transaction Fees for Amounts Below Sh1,000
Business

Covid-19: Safaricom Waives M-Pesa Transaction Fees for Amounts Below Sh1,000

Safaricom has waived all M-Pesa transaction charges for amounts below Sh1,000 in the wake of coronavirus outbreak. In a statement on Monday, Safaricom acting CEO Michael Joseph said all person-to-person transactions b…

Mar 16, 2020
KRA Freezes Keroche Breweries Bank Accounts as it Seeks to Recover Sh9 Billion in Unpaid Taxes
Business

KRA Freezes Keroche Breweries Bank Accounts as it Seeks to Recover Sh9 Billion in Unpaid Taxes

The tax dispute pitting Kenya Revenue Authority (KRA) against Keroche Breweries Limited has taken a new twist. This comes after KRA reportedly froze the brewer’s bank accounts in an attempt to recover unpaid taxes tot…

Mar 12, 2020
Shock as Goldenscape Greenhouses Fails to Pay Investors, Goes Silent
Business

Shock as Goldenscape Greenhouses Fails to Pay Investors, Goes Silent

Kenyans who invested with Goldenscape Greenhouses fear they have lost their money after the agribusiness company failed to pay them and went silent. Investors were initially set to receive payments in November last ye…

Mar 6, 2020
Optiven Foundation Partners with Fusion Capital to Fund Needy Students in 20 Counties
Business

Optiven Foundation Partners with Fusion Capital to Fund Needy Students in 20 Counties

Optiven Foundation has today partnered with private equity firm Fusion Capital to empower over 8, 000 needy students from twenty counties across Kenya. Under this new partnership, Fusion Capital has injected Kshs2 mil…

Mar 5, 2020
Central Bank of Kenya Moves to Buy $400 Million in US Currency
Business

Central Bank of Kenya Moves to Buy $400 Million in US Currency

Central Bank of Kenya (CBK) has revealed plans to buy $400 million US dollar currency in a bid to grow the country’s foreign currency reserves above normal levels. CBK wrote to the CEOs of local commercial banks expre…

Mar 4, 2020
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42 Kenyans Are Worth over $30 Million, Says Report
Business

42 Kenyans Are Worth over $30 Million, Says Report

There are 42 Kenyans with a net worth of over $30 million (Sh3 billion), according to the 2020 Knight Frank's global wealth report. The report released on Wednesday shows that Kenya has the fourth-largest number of in…

Mar 4, 2020
Kenya Inks Deal to Buy 15 Second-Hand Commuter Trains from Spain
Business

Kenya Inks Deal to Buy 15 Second-Hand Commuter Trains from Spain

Kenya has inked a deal for the acquisition of 15 second-hand commuter trains from Spain for about Sh1.5 billion. The agreement was signed on Monday in Mallorca, Spain by Kenya Railways Managing Director Philip Mainga…

Mar 3, 2020
US Company Exits Kenya, Moves to Zambia 5 Months After Opening Nairobi Shop
Business

US Company Exits Kenya, Moves to Zambia 5 Months After Opening Nairobi Shop

Barely five months after entering into the Kenyan market, US company Corteva Agriscience has closed its shop in Nairobi and shifted base to Zambia. Corteva, a New York Stock Exchange-listed agricultural chemical and s…

Mar 2, 2020
Kenya Earns Sh51.85 Billion from Exports to the US
Business

Kenya Earns Sh51.85 Billion from Exports to the US

Kenya earned Sh51.85 billion from exports to the United States in 2019, according to data by the Central Bank of Kenya (CBK). This represents a growth by Sh4.51 billion (9.53 percent) from the previous year, making it…

Mar 1, 2020
Allan Kilavuka Named as New Kenya Airways CEO
Business

Allan Kilavuka Named as New Kenya Airways CEO

Jambojet CEO Allan Kilavuka has been confirmed as the new Chief Executive Officer of Kenya Airways. The appointment of Kilavuka, who has been serving as the airline’s CEO in an acting capacity since December 16th, 201…

Feb 27, 2020
Kenya Lifts Ban on Wheat Imports from the US
Business

Kenya Lifts Ban on Wheat Imports from the US

After a 12-year ban, Kenya has opened doors for wheat imports from three US states. In a statement on Wednesday, the US Department of Agriculture (USDA) said the prohibition was lifted following an agreement between K…

Feb 27, 2020
Kenyan Companies Back the Proposed US-Kenya Free Trade Pact
Business

Kenyan Companies Back the Proposed US-Kenya Free Trade Pact

Kenyan companies have thrown their weight behind the proposed free trade agreement between Kenya and the United States. Through their lobby, Kenya Private Sector Alliance (Kepsa), the Kenyan companies said the agreeme…

Feb 22, 2020
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Safaricom Rolls Out New Mobile Numbers with 0110 and 0111 Prefixes
Business

Safaricom Rolls Out New Mobile Numbers with 0110 and 0111 Prefixes

Kenya’s giant mobile operator Safaricom on Tuesday announced the rollout of SIM cards with new 0110 and 0111 prefixes. The introduction of the new prefixes comes after the phasing out of the vintage 07xx prefix. Safar…

Feb 18, 2020
Safaricom to Launch Kenya's First 5G Network
Business

Safaricom to Launch Kenya's First 5G Network

Safaricom has revealed plans to launch Kenya’s first fifth-generation (5G) mobile internet services before the end of this year as it looks to capitalize on the increasing mobile internet use among Kenyans. Acting Saf…

Feb 13, 2020
Google Abandons Plan to Buy Stake in Lake Turkana Wind Farm
Business

Google Abandons Plan to Buy Stake in Lake Turkana Wind Farm

United States technology company, Google has abandoned plans to acquire a stake in Kenya’s Lake Turkana Wind Power (LTWP). Google had submitted a bid to buy a 12.5 percent stake in LTWP but ended the quest over delays…

Feb 11, 2020
Uhuru Meets Trump at the White House
Business

Uhuru Meets Trump at the White House

President Kenyatta on Thursday held a meeting with US President Trump at the White House in Washington, DC. During the meeting, the two leaders agreed to initiate negotiations on a free trade agreement between Kenya a…

Feb 7, 2020
Kenya Signs New Air Transport Agreement with the US
Business

Kenya Signs New Air Transport Agreement with the US

Kenya and the United States have signed a new Air Transport Agreement that will grant all-cargo airliners from the two nations express rights. In a statement on Wednesday, the US government said the agreement that was…

Feb 6, 2020
Trump to Host President Uhuru at the White House
Business

Trump to Host President Uhuru at the White House

US President Donald Trump will on Thursday host Kenyan President Kenyatta at the White House in Washington, DC. The two leaders will advance the discussions that begun when Kenyatta last visited the White House in Aug…

Feb 6, 2020
Uhuru to Hold Talks with Trump in Washington, DC
Business

Uhuru to Hold Talks with Trump in Washington, DC

President Kenyatta is this week scheduled to hold talks with his United States counterpart Donald Trump in Washington, DC. The meeting between the two leaders comes as Kenya and the US prepare to start negotiations on…

Feb 4, 2020
Gov’t Bans the Sale of 17 Maize Flour Brands
Business

Gov’t Bans the Sale of 17 Maize Flour Brands

The Kenya Bureau of Standards (KEBS) on Thursday banned the sale of 17 maize flour brands. In a statement, KEBS said the affected maize meal brands were found to contain high levels of aflatoxin, making them unsafe fo…

Jan 30, 2020
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