BUSINESS NEWS
1
The government’s response to the Covid-19 pandemic has received a boost after International Monetary Fund (IMF) Executive Board on Wednesday, May 6th, approved the disbursement of $739 million (Sh78.3 billion) to Kenya.
The amount, which was channeled through IMF’s Rapid Credit Facility (RCF), will…
7
American companies operating under the International Intellectual Property Alliance (IIPA) are ready to back the proposed free trade agreement (FTA) between Kenya and the US but on certain conditions.
The alliance, in a letter to Trump’s administration, said Kenya must first enact strong…
2
Kenya Airways raked in Sh214 million from its cargo business in the month of April 2020.
This comes after the government banned all international passenger flights on March 22nd as part of the measures to contain the spread of Covid-19 in the country.
In April alone, the national carrier made 53…
2
Kenya’s giant mobile network operator, Safaricom has recorded a net profit of Sh74.7 billion for the financial year ended March 31st, 2020.
This represents a 19.5 percent growth compared to the company’s earnings in the previous year thanks to growth in M-Pesa and data revenues.
Earnings from M-…
13
The government has approved prototypes of Kenyan-made ventilators, paving the way for mass production of the life-saving medical equipment.
The ventilators developed by Kenya Association of Manufacturers’ (KAM) automotive sector were presented to Trade and Industrialization CS Betty Maina on…
1
Kenya Airways (KQ) has announced it is converting some of its grounded passenger flights into cargo freighters.
KQ said the move is aimed at keeping the airline in operation amid the coronavirus pandemic, which has completely crippled the air travel industry globally.
The grounded KQ passenger…
1
A 28-year-old Kenyan woman has made it to the 2020 Forbes Africa top 30 under 30 list released this month.
Ogutu Okudo, who is the founder and CEO of Women in Energy & Extractives Africa, was recognized for her immense contribution to the oil and energy sector in Kenya and Africa.
"These are…
6
Peter Ndegwa on Wednesday, April 1st, officially took over as the new CEO of Safaricom following his appointment last year.
Ndegwa was appointed to the position in October last year to replace former CEO Bob Collymore, who died of cancer in July 2019.
He assumes the role from Michael Joseph,…
5
Kenyan billionaire businessman Chris Kirubi is set to spend Sh2.7 billion to acquire 133 million more shares in Centum Investment Company.
This will raise the tycoon’s stake in Centum Investment from the current 30 percent to 49.99 percent, making him the company’s single-largest individual…
4
Kenya has suspended the importation of second-hand clothes, locally known as ‘mitumba’, due to the global coronavirus outbreak.
In a statement on Wednesday, the Ministry of Trade, Industry, and Cooperatives said the move is aimed at protecting the health of Kenyans and promoting the local textile…
