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Ekeza Sacco, Which Has 5,000 Members in the Diaspora to Remain Shut, Says Govt
Business

Ekeza Sacco, Which Has 5,000 Members in the Diaspora to Remain Shut, Says Govt

The government says Ekeza Sacco will remain shut until it is convinced that there is a proper management structure in place. Speaking to Business Daily, acting Principal Secretary for Co-operatives Chris Kiptoo said l…

Sep 5, 2018
Fuel Tax Debate: You Must Pay to Enjoy Services, Secure Future, Equity CEO James Mwangi Tells Kenyans
Business

Fuel Tax Debate: You Must Pay to Enjoy Services, Secure Future, Equity CEO James Mwangi Tells Kenyans

Equity Bank Chief Executive Officer (CEO) James Mwangi has urged Kenyans to stop complaining about increased taxes. Reacting to the 16 percent Value Added Tax (VAT) imposed on fuel products by the government in order…

Sep 4, 2018
Foreign Cash Deposits in Kenyan Banks Grow By Sh60 Billion Buoyed By Diaspora Inflows
Business

Foreign Cash Deposits in Kenyan Banks Grow By Sh60 Billion Buoyed By Diaspora Inflows

Foreign currency deposits held in local banks increased by Sh60 billion in the month of June, data from the Kenyan government shows. Analysts attributed the huge growth of the foreign currency deposits to increased re…

Sep 4, 2018
Kenya Shilling Strengthens Against US Dollar on Diaspora Inflows Support
Business

Kenya Shilling Strengthens Against US Dollar on Diaspora Inflows Support

The Kenyan shilling strengthened against the US dollar on Friday, supported by remittances by Kenyans in the diaspora and foreign investors in government securities. The shilling traded at 100.55 on average in the int…

Sep 3, 2018
Nakumatt Shuts Down Its Last Remaining Outlet in Mombasa
Business

Nakumatt Shuts Down Its Last Remaining Outlet in Mombasa

Nakumatt has shut down its Likoni Branch, the last remaining outlet of the region's once largest retailer in the city of Mombasa and the coast. The struggling supermarket exited Likoni outlet following an order by the…

Sep 3, 2018
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Hard Times ahead for Kenyans as KRA Announces 16 Percent Tax on Fuel
Business

Hard Times ahead for Kenyans as KRA Announces 16 Percent Tax on Fuel

The Kenya Revenue Authority (KRA) has announced 16 percent tax on all petroleum products effective September 1st. This means motorists will now have to dig deeper into their pockets for fuel and other products whose p…

Sep 1, 2018
Inside the Sh300 Billion Nairobi-Mombasa Expressway to be Constructed by US Engineering Firm Bechtel
Business

Inside the Sh300 Billion Nairobi-Mombasa Expressway to be Constructed by US Engineering Firm Bechtel

The construction of a Sh300 billion state-of-the-art expressway connecting Nairobi and Mombasa is set to begin before the end of this year. The road will be build by United States engineering firm Bechtel after Kenya…

Sep 1, 2018
Uhuru Kenyatta to Meet Chinese President Xi Jinping in Beijing
Business

Uhuru Kenyatta to Meet Chinese President Xi Jinping in Beijing

President Uhuru Kenyatta is this weekend expected to travel to China where he will attend the China-Africa forum that will take place from September 1st to 5th.  During the trip, Kenyatta is also scheduled to hold tal…

Aug 31, 2018
20 New British Companies to Open Shop in Kenya
Business

20 New British Companies to Open Shop in Kenya

Twenty new British companies are set to open shop in Kenya, United Kingdom Prime Minister Theresa May has announced. Speaking at Kenya-UK business forum at Strathmore University in Nairobi, May said the entry of the 2…

Aug 31, 2018
Kenya Airways to Take Over Running of JKIA from KAA
Business

Kenya Airways to Take Over Running of JKIA from KAA

Kenya Airways is set to assume the running of daily operations of Jomo Kenyatta International Airport (JKIA) from Kenya Airports Authority (KAA). Speaking to the press, Kenya Airways Chief Executive Officer (CEO) Seba…

Aug 30, 2018
Relief to Kenyans Making Huge Cash Transactions as MPs Reject Proposed Robin Hood Tax
Business

Relief to Kenyans Making Huge Cash Transactions as MPs Reject Proposed Robin Hood Tax

Kenyans transacting more than half-a-million shillings can now have a reason to smile after Members of Parliament on Thursday turned down a proposal that sought to impose a 0.05 per cent tax. MPs voted to reject the e…

Aug 30, 2018
Kenya Airways Announces Sh4 Billion Half-Year Loss
Business

Kenya Airways Announces Sh4 Billion Half-Year Loss

Kenya Airways has recorded a loss of Sh4 billion in the first six months of 2018, representing a 30 percent improvement from the Sh5.7 billion posted in the same period the previous year. The airline’s revenue grew to…

Aug 29, 2018
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JKIA Receives Last Point of Departure Clearance, Paving Way for Nonstop Flights to the US
Business

JKIA Receives Last Point of Departure Clearance, Paving Way for Nonstop Flights to the US

The United States government has granted Jomo Kenyatta International Airport (JKIA) the Last Point of Departure (LPD) clearance. This clearance paves the way for airlines to fly directly from JKIA to any destination i…

Aug 29, 2018
President Kenyatta Holds Meeting with Top US Investors in Washington, DC
Business

President Kenyatta Holds Meeting with Top US Investors in Washington, DC

President Uhuru Kenyatta on Monday held successful talks with top American business leaders in Washington, DC. During the meeting with business executives of leading US companies operating under the Business Council f…

Aug 27, 2018
World Bank Topples China as Kenya's Biggest Creditor at Sh581 Billion
Business

World Bank Topples China as Kenya's Biggest Creditor at Sh581 Billion

The World Bank has regained its grip as Kenya's leading creditor after earlier being overtaken by China. This comes after Kenya borrowed Sh54 billion from the Washington DC-based in three months this year, helping it…

Aug 27, 2018
British Prime Minister Theresa May Troops to Kenya with Top UK Investors
Business

British Prime Minister Theresa May Troops to Kenya with Top UK Investors

British Prime Minister Theresa May is this week expected to visit Kenya as part of her three-nation tour to Africa that will also see her land in South Africa and Nigeria. May is set to be the first British Prime Mini…

Aug 27, 2018
Nairobi-Based NGO to Receive Sh200 Million Donor Funding from US Organization
Business

Nairobi-Based NGO to Receive Sh200 Million Donor Funding from US Organization

A Kenyan non-governmental organisation is set to receive this year's Sh200 million donor funding from a US-based non-profit organisation, Conrad N. Hilton Humanitarian. Shining Hope for Communities (SHOFCO) which offe…

Aug 24, 2018
Jubilee Insurance on the Spot for Sacking Female Employee Due to Pregnancy
Business

Jubilee Insurance on the Spot for Sacking Female Employee Due to Pregnancy

Jubilee Insurance has been placed on the spot for allegedly sacking a female employee over pregnancy. The insurance firm is said to have illegally terminated former head of corporate communications Victoria Miguda's c…

Aug 22, 2018
How Four Employees Stole Sh72 Million from Kenya Commercial Bank
Business

How Four Employees Stole Sh72 Million from Kenya Commercial Bank

Detectives from the Directorate of Criminal Investigations (DCI) arrested four employees for allegedly stealing Sh72.6 million from Kenya Commercial Bank (KCB). In a statement, DCI boss George Kinoti said the four wer…

Aug 20, 2018
Transit Passengers via JKIA Hit 800,000 in Two Months
Business

Transit Passengers via JKIA Hit 800,000 in Two Months

Jomo Kenyatta International Airport (JKIA) has continued to cement its place as Africa's top transit hub. The number of passengers passing through the Nairobi airport increased tremendously in the month of May and Jun…

Aug 18, 2018
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