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Over 1,000 Kenyans to Lose Jobs as Finlays Announces Closure of Farms
Business

Over 1,000 Kenyans to Lose Jobs as Finlays Announces Closure of Farms

Multinational flower company, Finlays has announced it will shut down two of its farms in Kenya by December 25th citing difficult business environment in the country. The closure of the two flower farms in Kericho Cou…

Oct 21, 2019
Uhuru Rejects Finance Bill, Wants MPs to End Cheap Loans for Kenyans
Business

Uhuru Rejects Finance Bill, Wants MPs to End Cheap Loans for Kenyans

President Kenyatta declined to assent to the Finance Bill 2019 and asked MPs to scrap a cap on commercial lending that was imposed in 2016. Consequently, Uhuru has sent the Bill back to the National Assembly after agr…

Oct 17, 2019
Microsoft Recruits 50 Computer Engineers at its Nairobi Hub
Business

Microsoft Recruits 50 Computer Engineers at its Nairobi Hub

American technology company, Microsoft has hired 50 engineers at its Africa Development Centre (ADC) opened in Nairobi in May this year. The 50 experts are part of a team of 100 computer science engineers the tech gia…

Oct 17, 2019
US Beverage Company to Use Kenyan Coffee to Make Bhang-Laced Drinks
Business

US Beverage Company to Use Kenyan Coffee to Make Bhang-Laced Drinks

A Kenyan coffee producer has won a contract for the supply of ground berries to an American beverage company that makes bhang-laced drinks. New York-listed Puration Company (PURA) will make Cannabidiol-infused lattes…

Oct 15, 2019
Safaricom Mulls Buying Stake in Ethiopia’s State-Owned Ethio Telecom
Business

Safaricom Mulls Buying Stake in Ethiopia’s State-Owned Ethio Telecom

Kenya’s giant telecommunications company, Safaricom is planning to buy a stake in Ethiopia’s State-owned Ethio Telecom. Acting Safaricom CEO Michael Joseph indicated the company is considering buying shares in Ethio T…

Oct 13, 2019
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Kenyans Fail to Claim Sh12 Billion Idle Assets Surrendered to the State
Business

Kenyans Fail to Claim Sh12 Billion Idle Assets Surrendered to the State

The State is holding more than Sh12 billion in unclaimed assets as only 7,000 Kenyans applied to be reunited with their properties in the past seven years. Since it was established in 2013, the Unclaimed Financial Ass…

Oct 11, 2019
Rwandan Company Opens Africa’s First Smartphone Factory, Unveils 2 Makes
Business

Rwandan Company Opens Africa’s First Smartphone Factory, Unveils 2 Makes

Rwandan President Paul Kagame on Monday opened Africa’s first smartphone factory in the country’s capital, Kigali. Mara Group, a Rwandese company unveiled two smartphone brands on Monday dubbed Mara X and Mara Z. Mara…

Oct 8, 2019
Betting Company SportPesa Sacks over 400 Kenyan Employees
Business

Betting Company SportPesa Sacks over 400 Kenyan Employees

Kenya’s largest betting company, SportPesa has fired all employees days after it announced its decision to shut down operations in the country. More than 400 SportPesa staff were informed about the laying off during a…

Oct 2, 2019
Sh800 Billion Repatriated from Offshore Accounts by Wealthy Kenyans 'Goes Missing"
Business

Sh800 Billion Repatriated from Offshore Accounts by Wealthy Kenyans 'Goes Missing"

Kenya Revenue Authority (KRA) cannot reportedly trace Sh803 billion repatriated back to the country from offshore accounts by wealthy Kenyans since mid-2016. On Tuesday, a KRA top official said they are not sure wheth…

Oct 2, 2019
SportPesa Shuts Down Operations in Kenya as Betin Sends All Workers Home
Business

SportPesa Shuts Down Operations in Kenya as Betin Sends All Workers Home

Kenya's largest betting company, SportPesa has shut down operations in the country citing hostility from the government. SportPesa announced the move following its recent taxation and regulatory tussle with the Kenyan…

Sep 29, 2019
Uhuru Meets Top US Business Executives in New York, Markets Kenya as an Investment Hub
Business

Uhuru Meets Top US Business Executives in New York, Markets Kenya as an Investment Hub

President Kenyatta on Tuesday urged US investors to consider Kenya as their investment destination.  Kenyatta, who spoke at a forum hosted by the American Chamber of Commerce and attended by top executives from leadin…

Sep 25, 2019
Kenya Airways to Sell 7 Boeing Aircraft
Business

Kenya Airways to Sell 7 Boeing Aircraft

Kenya Airways (KQ) is set to sell seven of its aircraft in a sale deal expected to earn the loss-making airline billions of shillings. The sale of the planes is part of the airline’s efforts to cut its fleet in a bid…

Sep 25, 2019
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'Dirty Cash': Alarm as Kenyans Rush to Buy Wheat in Old Sh1,000 Notes Ahead of Next Week Deadline
Business

'Dirty Cash': Alarm as Kenyans Rush to Buy Wheat in Old Sh1,000 Notes Ahead of Next Week Deadline

Central Bank of Kenya (CBK) suspects that Kenyans holding dirty cash could be buying wheat in a bid to clean it ahead of the September 30th deadline.  Speaking on Tuesday, CBK Governor Dr. Patrick Njoroge said the sud…

Sep 24, 2019
KRA to Track Mpesa Transactions in Bid to Nab Tax Cheats
Business

KRA to Track Mpesa Transactions in Bid to Nab Tax Cheats

Kenya Revenue Authority (KRA) is set to begin monitoring individuals’ Mpesa transactions in a bid to nab tax cheats. KRA, which is seeking to net 1.9 trillion this year, suspects that some taxpayers who receive their…

Sep 23, 2019
Gov’t Shelves Plan to Ban Importation of Chinese Fish into Kenya
Business

Gov’t Shelves Plan to Ban Importation of Chinese Fish into Kenya

The government has shelved plans to ban the importation of Chinese fish into the Kenya. Fisheries Development Principal Secretary Prof. Micheni Ntiba said the move to ban fish imports from China would only create a sh…

Sep 21, 2019
JKIA Ranked World’s 2nd Fastest-Growing Cargo Airport
Business

JKIA Ranked World’s 2nd Fastest-Growing Cargo Airport

Kenya’s Jomo Kenyatta International Airport (JKIA) has been rated among the world’s fastest-growing cargo airports. JKIA has been ranked position two in the category of world airports that handle more than 250,000 met…

Sep 19, 2019
170 Kenyans Left Jobless as US-Based Software Company Andela Lays off Workers
Business

170 Kenyans Left Jobless as US-Based Software Company Andela Lays off Workers

New York-headquartered software developer training and outsourcing company Andela has announced massive job cuts in Africa. On Tuesday, the company said it will lay off 170 software developers in Kenya and at least 25…

Sep 17, 2019
MPs Reject Proposal to End Cheap Loans for Kenyans
Business

MPs Reject Proposal to End Cheap Loans for Kenyans

Members of the National Assembly Finance and National Planning Committee have rejected a proposal by National Treasury to repeal the interest rate capping law. Members of the committee argued that repealing the law wo…

Sep 10, 2019
New Premier Kenyan Business and Events Platform Launched
Business

New Premier Kenyan Business and Events Platform Launched

New premier Kenyan business platform called NaiGate launched to create market access for businesses and service providers —including freelancers— both in Kenya and in the diaspora. NaiGate was recently featured on KTN…

Sep 9, 2019
Kenya Airways Drops Bid to Takeover JKIA Operations
Business

Kenya Airways Drops Bid to Takeover JKIA Operations

Kenya Airways (KQ) says it has formally withdrawn its Privately Initiated Investment Proposal (PIIP) seeking to take over the operations of Jomo Kenyatta International Airport (JKIA). The proposal, which was submitted…

Sep 4, 2019
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