BUSINESS NEWS
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Safaricom's pioneering mobile money service, M-Pesa, has recorded its first-ever decline in agent numbers following the implementation of a new geo-locking security measure.
The policy, designed to combat fraud, restricts agents to operating their tills within specific geographical boundaries,…
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The Ministry of Information and Communications Technology has announced that over two million smartphones have been asse,bled in Kenya.
ICT Principal Secretary John Tanui revealed that this initiative, spearheaded by telecommunications provider Safaricom and other technology companies, aims to…
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The changing lifestyles of consumers are pushing the leading supermarket chains in Nairobi and other major cities to offer 24-hour operations.
This shift, primarily driven by increasing urbanization, demanding work schedules, and a growing emphasis on convenience, has gained particular momentum in…
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Kenya's President William Ruto has called for increased investment in the country's vast geothermal energy potential, highlighting that only a fraction of available resources have been utilized thus far.
During the groundbreaking ceremony for the 35-megawatt Orpower 22 Power Plant in Nakuru County'…
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The Communications Authority of Kenya (CA) is implementing changes to mobile device taxation with a new directive set to take effect on November 1, 2024.
The initiative aims to strengthen tax compliance across Kenya's mobile phone sector through comprehensive tracking and verification measures. At…
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Kenya's Agriculture and Food Authority (AFA) has implemented restrictions on avocado exports, effective October 25, following revelations of insufficient production levels for the current season.
The directive specifically prohibits sea shipments of Hass, Pinkerton, Fuerte, and Jumbo avocado…
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Less than 1% of Kenyan bank accounts held more than 500,000 Kenyan shillings last year.
This indicates a lack of savings culture and increasing income inequality in the country. According to Central Bank of Kenya (CBK) data, approximately 800,000 high-value depositors, representing just 0.74 per…
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The Kenyan shilling has demonstrated remarkable resilience against the US dollar, largely due to the strategic interventions of the Central Bank of Kenya (CBK).
Despite the dollar reaching a two-month high earlier in the week, the shilling managed to hold its ground, closing at Sh129.20 against the…
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JPMorgan Chase, America's largest bank, has made progress in its African expansion strategy by securing approval to establish a representative office in Nairobi, Kenya.
This move signals increased international interest and investment in Kenya's financial sector. However, the bank's approach in…
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Kenya Electricity Generating Company (KenGen) has unveiled an ambitious 10-year strategy aimed at propelling the nation towards a sustainable, green energy future.
The G2G plan, spanning from 2024 to 2034, focuses on expanding investments in geothermal, wind, and solar power while enhancing…