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Trump Top Official Woos Kenya to Award Sh300 Billion Nairobi-Mombasa Expressway Contract to US Firm
Business

Trump Top Official Woos Kenya to Award Sh300 Billion Nairobi-Mombasa Expressway Contract to US Firm

The head of the United States government agency that helps private businesses invest in developing countries is wooing Kenya to award the contract for construction of Sh300 billion Nairobi-Mombasa expressway to Americ…

Jul 25, 2018
Kenyan Tech Start-Ups Battle for Visa Funding
Business

Kenyan Tech Start-Ups Battle for Visa Funding

Four Kenyan tech start-ups are set to battle for Sh5 million funding from American multinational financial services corporation Visa. The four, M-Changa, Mookh, WayaWaya and LipaPlus are among 12 finalists selected fr…

Jul 23, 2018
Astral to Fly Kenya's First Cargo Drones
Business

Astral to Fly Kenya's First Cargo Drones

Kenya-based cargo airline Astral Aviation is set to launch country's first cargo drones after inking a deal for the acquisition of the remote-controlled aircraft. Astral has signed an agreement with Dubai-based Falcon…

Jul 23, 2018
Kenya Airways Secures Parts, Services Deal with US Plane Manufacturer Boeing
Business

Kenya Airways Secures Parts, Services Deal with US Plane Manufacturer Boeing

Kenya Airways (KQ) has inked a deal with American aircraft manufacturer Boeing, making it the first African airline to use Boeing’s Consumable & Expendable Services. The agreement will help Kenya Airways improve its a…

Jul 23, 2018
Trump Top Official in Kenya to Counter China Invasion
Business

Trump Top Official in Kenya to Counter China Invasion

US top government officials are set to arrive in the country on Saturday for a tour aimed at boosting business with Kenya and countering China's investments in Africa. The officials are drawn from a state agency taske…

Jul 21, 2018
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Court Suspends Implementation of Robin Hood Tax on Kenyans Transacting Over Sh500,000
Business

Court Suspends Implementation of Robin Hood Tax on Kenyans Transacting Over Sh500,000

The High Court has issued conservatory orders suspending the implementation of the excise duty on transactions of cash exceeding half a million shillings. The excise duty on the bulk bank cash transactions was announc…

Jul 19, 2018
Wealthy Kenyans Stash More Billions in Foreign Accounts
Business

Wealthy Kenyans Stash More Billions in Foreign Accounts

The amount of cash stashed by wealthy Kenyans in foreign accounts increased in 2017 despite spirited efforts by the government to have the assets returned to Kenya. Money hidden by Kenyans in Swiss accounts grew by 4…

Jul 19, 2018
Gov't Imposes Taxes on Employees' Allowances, Airtime
Business

Gov't Imposes Taxes on Employees' Allowances, Airtime

The government is set to introduce taxation on airtime received by Kenyan workers from their employers beginning August 1st, 2018, in a new Bill published by Treasury Cabinet Secretary Henry Rotich. The new taxes will…

Jul 18, 2018
Kenyans Transact a Record Sh1.8 Trillion Via Mobile Cash in Three Months
Business

Kenyans Transact a Record Sh1.8 Trillion Via Mobile Cash in Three Months

The Communications Authority of Kenya (CA) has revealed that Kenyans transacted a record Sh1.8 trillion through mobile cash platforms between January and March, 2018. Of the Sh1.8 trillion, Safaricom's Mpesa service a…

Jul 18, 2018
Standard Gauge Railway Makes Sh10 Billion Loss in Its First Year of Operation
Business

Standard Gauge Railway Makes Sh10 Billion Loss in Its First Year of Operation

The Standard Gauge Railway (SGR), which was dubbed the biggest infrastructural project in the history of Kenya made a loss of close to Sh10 billion in its first  year of operation. Figures from the ministry of Transpo…

Jul 18, 2018
Suspected Fraud Attack at Chase Bank Leaves Customers Stranded
Business

Suspected Fraud Attack at Chase Bank Leaves Customers Stranded

A suspected fraud attack at Chase Bank has reportedly paralyzed key services at the lending institution in the last five days. Since Sunday, customers have not been able to access key services such as debit card trans…

Jul 14, 2018
South African Wins Sh7.8 Million MpesaTu Promotion Apartment
Business

South African Wins Sh7.8 Million MpesaTu Promotion Apartment

A South African national living in Kenya has become the latest winner of a multi-million shilling apartment in the Safaricom's MpesaTu promotion. 49-year-old Eric Lindenberg was handed keys to the Sh7.8million house l…

Jul 14, 2018
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US-Based Tech Company Cisco to Launch Innovation Hub in Nairobi
Business

US-Based Tech Company Cisco to Launch Innovation Hub in Nairobi

US-based technology firm Cisco Systems is set to launch an innovation hub in Nairobi later this year. Cisco seeks to recruit tech enthusiasts in the country with the Sh50 million ($500,000) lab that has a capacity of…

Jul 13, 2018
Kenya Ranked Africa's Third Most Innovative Country in Sub Saharan Africa
Business

Kenya Ranked Africa's Third Most Innovative Country in Sub Saharan Africa

Kenya has been ranked Sub Saharan Africa's third most innovative country in the Global Innovative Index (GII) 2018. The index named access to microfinance loans, innovation linkages and exports of creative services, w…

Jul 12, 2018
Gov't Denies Awarding Sh300 Billion Nairobi-Mombasa Expressway Contract to US Company
Business

Gov't Denies Awarding Sh300 Billion Nairobi-Mombasa Expressway Contract to US Company

The government has denied that the contract for the construction of Sh300 billion Nairobi-Mombasa expressway was awarded to American company Bechtel. Speaking when he appeared before Parliament’s Implementation Commit…

Jul 12, 2018
KRA Targets Unlicensed Tax Agents with Tougher Regulations
Business

KRA Targets Unlicensed Tax Agents with Tougher Regulations

The Kenya Revenue Authority (KRA) has formulated new tough regulations in a bid to tame unlicensed tax agents in the country. The tax agency has published the Tax Procedures (Tax Agents) Regulations 2018 that require…

Jul 11, 2018
SGR Isn't a Matatu: Deputy President William Ruto Justifies Sh1 Billion Monthly Operation Cost for Madaraka Express
Business

SGR Isn't a Matatu: Deputy President William Ruto Justifies Sh1 Billion Monthly Operation Cost for Madaraka Express

Deputy President William Ruto has confirmed reports by the media that Kenyan taxpayers are shouldering a whooping Sh30 million per day as operation cost for the Standard Gauge Railway (SGR) passenger train between Nai…

Jul 9, 2018
Kenya Airways, Safaricom Named in List of 100 Best Companies in Africa
Business

Kenya Airways, Safaricom Named in List of 100 Best Companies in Africa

Kenya Airways has been named in the top 100 best companies to work for in the continent of Africa. The ranking follows a survey that interviewed more than 20,000 African professionals on questions about employee engag…

Jul 9, 2018
Ten Highest Paid Non-Executive Directors in Kenya
Business

Ten Highest Paid Non-Executive Directors in Kenya

Chairpersons of a host of top Kenyan companies listed in the Nairobi Securities Exchange (NSE) have emerged as some of the highly paid individuals in corporate sector. Business Daily has identified the top ten non-exe…

Jul 7, 2018
MP Moves to Protect Loan Guarantors from Lenders in New Bill
Business

MP Moves to Protect Loan Guarantors from Lenders in New Bill

A Member of Parliament has moved to make amendments to the existing law to stop lending institutions from going for guarantor's property in case principal borrowers default on loans. In his proposal, Juja MP Francis W…

Jul 7, 2018
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