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Business

Kenya Joins League of Oil-Exporting Countries, Earns Sh1.2 Billion from Inaugural Oil Sale

Kenya on Thursday sold 200,000 barrels of crude oil, becoming the latest nation to join the league of oil-exporting countries. President Kenyatta broke the news about the sale of Kenya’s first crude oil during a Cabin…

Aug 1, 2019

Business

Nairobi’s DusitD2 Hotel Reopens After January Terror Attack

Nairobi’s DusitD2 Hotel was on Wednesday reopened six months after it was closed following a terror attack that left 21 people dead and several others injured. The high-end hotel located on Riverside Drive in Westland…

Jul 31, 2019

Business

Safaricom Succession: Gov’t Promises to Keep Off Process of Picking Bob Collymore’s Successor

The government will not meddle in Safaricom’s process of picking its new chief executive following the death of Bob Collymore early this month, ICT Cabinet Secretary Joe Mucheru has said. Mucheru said the government w…

Jul 27, 2019

Business

Kenya Airways Set to Become a State Company

Kenya Airways is set to become a State corporation after MPs on Tuesday unanimously approved a proposal by National Assembly Transport committee to nationalize the airline. The adoption of the proposal paves the way f…

Jul 23, 2019

Business

Sh100 Billion: Investigative Report Reveals SportPesa’s 2018 Profit

A new report by a global financial investigative magazine shows that Kenya’s giant betting company, SportPesa made a whopping $1 billion (Sh100 billion) in 2018. The report by Finance Uncovered said that SportPesa mad…

Jul 21, 2019

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Business

Naivas Supermarket Suspends Sale of Red Meat in its Outlets Countrywide

Kenyan supermarket chain, Naivas has suspended the sale of red meat in its outlets across the country pending the results of an independent test on its meat stock. In a statement, the supermarket said the entire stock…

Jul 19, 2019

Business

Kenya Railways Embroiled in Battle for Control of SGR Billions with Chinese Operator

Kenya Railways Corporation (KRC) is embroiled in a battle for control of Standard Gauge Railway (SGR) billions with a Chinese operator. KRC is reportedly seeking to take over revenue collection duties from a Chinese c…

Jul 14, 2019

Business

SportPesa Protests Government’s Gagging

Giant Kenyan betting company SportPesa has protested the latest move by the government that has paralyzed its operations. In a statement, SportPesa said the government's directive for withdrawal of its pay bill number…

Jul 13, 2019

Business

Gov't Gives Kenyan Gamblers 48 Hours to Withdraw Funds from Betting Companies' Wallets

The government has given millions of sports’ gamblers in Kenya 48 hours to withdraw funds deposited in betting companies’ wallets or lose them. This means gamblers have until Friday night to withdraw the cash follow…

Jul 12, 2019

Business

Late Kenyan Billionaire Njenga Karume’s Jacaranda Hotel Put on Auction over Sh257 Million Debt

The late Kenyan billionaire Njenga Karume’s Jacaranda Hotel in Nairobi's Westlands area is set to be auctioned over Sh257.6 million debt. The four-star hotel has been put up for auction to recover the huge debt owed t…

Jul 10, 2019

Business

US Lender in Court Battle with Kenyan Sacco over Sh36 Million Loan

A US investment company filed a lawsuit against a Kenyan farmers' co-operative society over failure to service a loan that has now accumulated to Sh36.6 million. Root Capital Incorporated, an investment company based…

Jul 9, 2019

Business

US Coffeehouse Chain Starbucks Speaks Out on Opening Shop in Nairobi

US coffeehouse chain Starbucks has refuted reports appearing in a section of local media claiming that it was planning to enter the Kenyan market. A representative of Taste Holdings, the brand’s South Africa-based fra…

Jul 9, 2019

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Business

Michael Joseph Defends His Appointment as Safaricom Interim CEO

Safaricom interim CEO Michael Joseph has defended the decision by the company's board to appoint him to the position following the death of Bob Collymore. This comes after questions were raised on why the board did no…

Jul 3, 2019

Business

Safaricom to Close All Shops Countrywide in Honor of Late CEO Bob Collymore

Safaricom has announced that all shops across the country will close for four hours on Thursday in honor of their late CEO Bob Collymore. The telecommunications company said the outlets will remain closed from 10:30 a…

Jul 3, 2019

Business

Martha Karua Faults Appointment of Michael Joseph as Safaricom Interim CEO

Kenyan politician Martha Karua has criticized the appointment of Michael Joseph as Safaricom's interim CEO. Joseph was picked by Safaricom Board to serve in the position on an acting capacity following the death of Bo…

Jul 2, 2019

Business

Safaricom Apologizes after Erroneously Sending ‘Threatening’ Message to Subscribers

Safaricom has apologized to its subscribers after erroneously sending a threatening message on Saturday morning. Several Safaricom subscribers were left in shock after receiving a message from the mobile service provi…

Jun 29, 2019

Business

1.3 Million Kenyans Risk Huge Fines for Failing to File Tax Returns before Sunday Deadline

More than one million Kenyans are yet to file their tax returns with Kenya Revenue Authority (KRA) four days before Sunday’s June 30th deadline. KRA told Business Daily that 1.3 million taxpayers were yet to file thei…

Jun 27, 2019

Business

Kenyan Businessman Files Sh115 Trillion Lawsuit against Safaricom

Kenyan businessman Benedict Kabugi Ndung’u has filed a lawsuit against telecommunications company Safaricom. Ndung’u accuses the giant mobile service provider company of breach of privacy in handling data for its mill…

Jun 26, 2019

Business

Username Investments CEO Receives the Prestigious 2019 African Business Personality Award

Reuben Kimani, CEO, Username Investment Limited is the 2019 recipient of the African Business Personality Award at the Voice Achievers Award. The prestigious award seeks to recognize outstanding men and women who have…

Jun 24, 2019

Business

We Are Only Accepting Old Kenyan Currency, US Embassy in Nairobi Tells Visa Applicants

The United States Embassy in Nairobi has told visa applicants that the Embassy is only accepting old Kenyan currency notes at the moment. In a statement on Tuesday, the Embassy said they are still developing procedure…

Jun 18, 2019