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Kenya Airways Announces Plan to Lay Off Workers
Business

Kenya Airways Announces Plan to Lay Off Workers

Kenya Airways has announced plans to lay off some of its workers in what the management terms as a restructuring move. In an internal memo addressed to staff members, Kenya Airways acting CEO Allan Kilavuka indicated…

Jan 29, 2020
Kenya to Negotiate Free Trade Agreement with the US
Business

Kenya to Negotiate Free Trade Agreement with the US

Officials from Kenya are early next month set to meet with their United States counterparts to negotiate on a Free Trade Agreement (FTA) between the two nations. Kenya, alongside Morocco, is set to be the first countr…

Jan 29, 2020
Kenya to Issue Sh150 Billion Infrastructure Bond
Business

Kenya to Issue Sh150 Billion Infrastructure Bond

The government, through the Kenya Roads Board (KRB), is set to issue a KSh150 bond to enable it to finance various infrastructure projects across the country. The money will be used to fund the development, maintenanc…

Jan 27, 2020
US Billionaire Investor Exits Kenya, Sells 3,700 Acre Farm in Siaya County
Business

US Billionaire Investor Exits Kenya, Sells 3,700 Acre Farm in Siaya County

American tycoon Calvin Burgess has reportedly sold out his multi-billion-shilling farm in Kenya following what he termed as frustration by politicians. Burgess allegedly sold the 3,700-acre Dominion Farms in Siaya Cou…

Jan 26, 2020
Kenya Risks Losing KSh3 Billion US Funding over Graft
Business

Kenya Risks Losing KSh3 Billion US Funding over Graft

Kenya is at risk of missing out on early access to a United States multi-million-dollar development program due to high corruption rates. The country was ranked 137 out of 180 countries in the latest Transparency Inte…

Jan 26, 2020
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26-Year-Old Woman Launches Kenya’s First Digital Car Insurance Company
Business

26-Year-Old Woman Launches Kenya’s First Digital Car Insurance Company

In a move that could revolutionize Kenya’s insurance industry, a 26-year-old Kenyan woman has launched the country’s first digital car insurance company. Jihan Abass, the founder and CEO of Griffin Insurance, on Frida…

Jan 25, 2020
Michael Joseph Sells All His Safaricom 1.17 Million Shares
Business

Michael Joseph Sells All His Safaricom 1.17 Million Shares

Acting Safaricom CEO Michael Joseph has disclosed he sold off his entire shares in the giant telecommunications operator. Joseph, who is Safaricom’s founding Chief Executive, owned 1.17 million shares in the mobile se…

Jan 19, 2020
Ethiopian Airlines to Build $5 Billion Mega Airport
Business

Ethiopian Airlines to Build $5 Billion Mega Airport

Ethiopian Airlines has revealed plans to build a mega airport at a cost of USD5 billion (KSh500 billion). The construction of the modern facility will commence later this year in Bishoftu, a town located 39 kilometers…

Jan 16, 2020
Kenyans Lose Jobs as Nairobi’s Mayfair Hotel Closes
Business

Kenyans Lose Jobs as Nairobi’s Mayfair Hotel Closes

Dozens of Kenyans have lost their jobs after Tsogo Sun, a South African hospitality group, announced the closure of Nairobi’s Southern Sun Mayfair Hotel. The four-star hotel, which has been in operation in Kenya since…

Jan 10, 2020
Uhuru to Open the Refurbished Kisumu Port
Business

Uhuru to Open the Refurbished Kisumu Port

President Kenyatta is next week scheduled to officially open the refurbished Kisumu port. Uhuru will commission the facility that was renovated at a cost of KSh3 billion on Tuesday, according to Kisumu Governor Prof…

Jan 9, 2020
End of an Era: Kenyan Giant Retail Chain Nakumatt Dissolved
Business

End of an Era: Kenyan Giant Retail Chain Nakumatt Dissolved

The curtains have finally fallen on Nakumatt after creditors on Tuesday voted to dissolve the former giant Kenyan retail chain. The liquidation process was approved during a meeting between Peter Kahi, the court-appoi…

Jan 8, 2020
Microsoft Picks Kendi Ntwiga Nderitu as Country Manager for Kenya
Business

Microsoft Picks Kendi Ntwiga Nderitu as Country Manager for Kenya

United States technology company, Microsoft has appointed Kenyan Kendi Ntwiga Nderitu as the Country Manager for its operations in Kenya. In a statement, Microsoft described Kendi as a highly disciplined and IT-driven…

Jan 7, 2020
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Court Declines to Stop Planned Auction of Njenga Karume’s Jacaranda Hotel in Nairobi
Business

Court Declines to Stop Planned Auction of Njenga Karume’s Jacaranda Hotel in Nairobi

The High Court on Tuesday declined to stop the planned auction of Nairobi’s Jacaranda Hotel, which is owned by the late Kenyan cabinet minister Njenga Karume. Justice Wilfrida Okwany ordered the hotel to pay Guaranty…

Jan 7, 2020
Njenga Karume's Jacaranda Hotel in Nairobi to be Auctioned This Month over Unpaid Loan
Business

Njenga Karume's Jacaranda Hotel in Nairobi to be Auctioned This Month over Unpaid Loan

Popular Jacaranda Hotel in Nairobi’s Westlands area is set to be auctioned later this month over a defaulted loan amounting to over KSh250 million. The high-end hotel, owned by the family of the late powerful Kenyan c…

Jan 6, 2020
Court Freezes Bank Accounts of Isabel dos Santos, Africa’s Richest Woman
Business

Court Freezes Bank Accounts of Isabel dos Santos, Africa’s Richest Woman

An Angolan court has ordered the freeze of all bank accounts belonging to Africa’s richest woman, Isabel dos Santos in an attempt to recover the money she reportedly owes the government.      Also frozen are all bank…

Jan 4, 2020
US Loses its Place as Largest Buyer of Kenya's Specialty Coffee
Business

US Loses its Place as Largest Buyer of Kenya's Specialty Coffee

The United States has lost its place as the largest buyer of Kenya’s specialty coffee.  The US, which topped in both quantities and prices offered in the 2017/2018 season, was overtaken by Belgium and Germany, accordi…

Dec 30, 2019
Allan Kilavuka Appointed as Kenya Airways Interim CEO
Business

Allan Kilavuka Appointed as Kenya Airways Interim CEO

Allan Kilavuka has been appointed as the interim CEO of Kenya Airways (KQ) to replace Sebastian Mikosz who exits the airline at the end of this month. In a statement on Monday, the KQ Board said Kilavuka, who is the c…

Dec 16, 2019
Rwanda's New $1.3 Billion Airport to Dwarf JKIA
Business

Rwanda's New $1.3 Billion Airport to Dwarf JKIA

Qatar Airways is set to take part in the redesign of Bugesera International Airport in Kigali following a deal with the Rwandan Government. Qatar Airways reportedly agreed to take up a 60 percent stake in the new airp…

Dec 11, 2019
US-Based Company Varian Opens Cancer Center in Nairobi
Business

US-Based Company Varian Opens Cancer Center in Nairobi

Varian, a US-based radiation oncology treatments and software maker has entered the Kenyan market. The move comes amid the rising population of cancer patients in the country with many preferring to seek treatment abr…

Dec 2, 2019
BBI Proposes 7-Year Tax Holiday for Kenyan Startup Businesses
Business

BBI Proposes 7-Year Tax Holiday for Kenyan Startup Businesses

The recently launched Building Bridges Initiative (BBI) report has proposed tax exemptions for startup businesses in the country. The report, which was launched by President Kenyatta on Wednesday, recommends a seven-y…

Nov 29, 2019