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KRA to Hire 1,000 Spies to Smoke out Wealthy Tax Cheats
Business

KRA to Hire 1,000 Spies to Smoke out Wealthy Tax Cheats

Kenya Revenue Authority (KRA) has been allocated an additional Sh2 billion to hire 1,000 intelligence and enforcement officers to spy on and arrest wealthy tax evaders. The National Assembly Budget and Appropriations…

Nov 28, 2019
79,982: The Number of Kenyans Earning over Sh100,000 Per Month
Business

79,982: The Number of Kenyans Earning over Sh100,000 Per Month

A new report by the Kenya National Bureau of Statistics (KNBS) shows that only 79,982 employed Kenyans earn a monthly salary of Sh100,000 and above. This represents an increase of 3,178 (4.1 percent) compared to 2018…

Nov 20, 2019
Bill Gates Reclaims World’s Richest Man Title from Jeff Bezos
Business

Bill Gates Reclaims World’s Richest Man Title from Jeff Bezos

Microsoft co-founder Bill Gates on Friday reclaimed his world's richest person title from his Amazon counterpart Jeff Bezos, who has held the position for the past two years. Gates’ resurgence is partly attributed to…

Nov 17, 2019
Gov’t to Buyout Troubled Kenya Airways
Business

Gov’t to Buyout Troubled Kenya Airways

The national government is set to buyout the loss-making Kenya Airways (KQ). This was revealed by Transport Principal Secretary Esther Koimett while appearing before a Parliament committee on Thursday The government w…

Nov 15, 2019
Sh45 Billion Needed to Rescue Kenya Airways, Chairman Michael Joseph Says
Business

Sh45 Billion Needed to Rescue Kenya Airways, Chairman Michael Joseph Says

Kenya Airways needs at least Sh45 billion to return to profitability, the airline’s Chairman Michael Joseph has said. Speaking during an interview with Citizen TV’s Jeff Koinange in New York, Joseph hit out at the gov…

Nov 14, 2019
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Kenyan Farmers Cry Foul as US Chicken Imports Flood Kenyan Market
Business

Kenyan Farmers Cry Foul as US Chicken Imports Flood Kenyan Market

Kenyan poultry farmers and traders have lamented the influx of imported products from the United States as well as Brazil. Lobby groups representing poultry farmers and traders expressed fears that last week’s US Trad…

Nov 14, 2019
US Cements its Position as Kenya’s Top Source of Tourists thanks to KQ Direct Flights
Business

US Cements its Position as Kenya’s Top Source of Tourists thanks to KQ Direct Flights

The United States has maintained its place as Kenya’s top source of tourists, according to the latest data from the Tourism Research Institute (TRI). The latest TRI data shows that arrivals from the US grew by 8.4 per…

Nov 11, 2019
Amazon Executives Reveal Plans to Set Up Edge Location in Nairobi During Meeting with Uhuru
Business

Amazon Executives Reveal Plans to Set Up Edge Location in Nairobi During Meeting with Uhuru

President Kenyatta on Friday held a meeting with visiting executives of Amazon Web Services (AWS) at State House, Nairobi. AWS is an enterprise of the United States e-commerce giant, Amazon that offers cloud computing…

Nov 8, 2019
Mumias Sugar Company Fires All 700 Employees
Business

Mumias Sugar Company Fires All 700 Employees

A month after being placed under receivership, Mumias Sugar Company has sent home all its employees  Ponangipalli Rao, the receiver appointed by Kenya Commercial Bank (KCB), indicated the cash-strapped sugar miller wi…

Nov 6, 2019
Uhuru’s Proposal to End Cheap Loans for Kenyans Sails through
Business

Uhuru’s Proposal to End Cheap Loans for Kenyans Sails through

The National Assembly on Tuesday failed to overturn President Kenyatta’s recommendations on the repeal of interest rate cap on commercial lending. This came after the majority of MPs walked out of the house sitting to…

Nov 5, 2019
Kenyatta Family, Equity Bank CEO James Mwangi's Fortune Grow by Sh1 Billion Each in Two Weeks
Business

Kenyatta Family, Equity Bank CEO James Mwangi's Fortune Grow by Sh1 Billion Each in Two Weeks

President Kenyatta’s family, the family of former Central Bank governor Philip Ndegwa and Equity Bank CEO James Mwangi have increased their fortune by Sh1 billion each within the past two weeks. This comes after price…

Nov 1, 2019
Widow Wants Former Equity Bank CEO John Mwangi's Body Exhumed over Property Row
Business

Widow Wants Former Equity Bank CEO John Mwangi's Body Exhumed over Property Row

Sarah Wanjiru, one of the widows of the late Equity Bank CEO John Mwangi Kagema has filed an application seeking to have his body exhumed for a DNA test to be carried out over property dispute. In documents filed in c…

Oct 31, 2019
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Kenya Airways Marks One Year since Launch of US Direct Flights, Flies 100,000 Passengers
Business

Kenya Airways Marks One Year since Launch of US Direct Flights, Flies 100,000 Passengers

Kenya Airways (KQ) on Tuesday marked one year since it launched direct flights to the United States.  Speaking on Tuesday, KQ CEO Sebastian Mikosz indicated that the airline had executed 594 hauls between Nairobi and…

Oct 30, 2019
Kenya's Second Batch of 500,000 Barrels of Crude Oil set for Shipment
Business

Kenya's Second Batch of 500,000 Barrels of Crude Oil set for Shipment

The second batch of 500,000 barrels of crude oil is set to leave the country at the end of February, 2020. The shipment will still be part of Kenya’s ongoing tests of the quality of its oil deposits ahead of Tullow Oi…

Oct 29, 2019
Top US Bank Goldman Sachs Acquires Sh2.4 Billion Stake in Kenya’s Twiga Foods
Business

Top US Bank Goldman Sachs Acquires Sh2.4 Billion Stake in Kenya’s Twiga Foods

Goldman Sachs, a leading US investment bank, has acquired a stake in Kenyan start-up Twiga Foods. The deal will see Goldman Sachs pump $23.75 million (Sh2.44 billion) into Twiga Foods to help in its expansion plan in…

Oct 28, 2019
Vivo Energy Gets Gov’t Nod to Acquire KFC Restaurants in Kenya
Business

Vivo Energy Gets Gov’t Nod to Acquire KFC Restaurants in Kenya

Vivo Energy has received the green light to acquire KUKU Foods which operates US fast-food chain Kentucky Fried Chicken (KFC) in Kenya. The Competition Authority of Kenya (CAK) approved the planned acquisition saying…

Oct 28, 2019
Russia President Putin Courts Kenya with Arms, Energy Deals in Meeting with Uhuru
Business

Russia President Putin Courts Kenya with Arms, Energy Deals in Meeting with Uhuru

Infrastructure, energy and military hardware are among the opportunities that Russian President Vladimir Putin offered to his Kenyan counterpart Uhuru Kenyatta during the inaugural Russia-Africa Economic Forum in Soch…

Oct 26, 2019
Who is Peter Ndegwa, the New Safaricom CEO?
Business

Who is Peter Ndegwa, the New Safaricom CEO?

Peter Ndegwa was on Thursday appointed the new Safaricom Chief Executive Officer (CEO), becoming the first Kenyan-born national to head the giant telecommunications company. Ndegwa, the Diageo Continental Europe Manag…

Oct 25, 2019
Peter Ndegwa Appointed as New Safaricom CEO
Business

Peter Ndegwa Appointed as New Safaricom CEO

Kenya’s leading telecommunications operator, Safaricom has appointed Peter Ndegwa as its new CEO. In a statement on Wednesday, Safaricom said Ndegwa’s appointment will take effect on April 1st, 2020. Ndegwa joins Safa…

Oct 24, 2019
Safaricom Introduces Non-Expiry Data, Voice and SMS Packages
Business

Safaricom Introduces Non-Expiry Data, Voice and SMS Packages

As it marks its 19th anniversary, Safaricom has introduced non-expiry data, voice and SMS packages for its customers. On Wednesday, the giant telecommunications operator unveiled the changes in a new system dubbed ‘Si…

Oct 23, 2019
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