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US Under Secretary for Trade Gil Kaplan to Lead Delegation of Investors to Kenya
Business

US Under Secretary for Trade Gil Kaplan to Lead Delegation of Investors to Kenya

US Under Secretary for International Trade Gil Kaplan is set to lead a delegation of American businesspeople to Kenya next week. Speaking during her maiden press briefing on Wednesday, State House Deputy Spokesperson…

Jun 20, 2018
Safaricom Opposes Gov't Plan to Increase Tax on Mobile Cash Transfer to 12 Percent
Business

Safaricom Opposes Gov't Plan to Increase Tax on Mobile Cash Transfer to 12 Percent

Kenya telecommunication giant Safaricom has opposed tax increase on mobile money transfer proposed by Treasury Cabinet Secretary Henry Rotich. While reading 2018/2019 budget statement in Parliament last Thursday, Roti…

Jun 18, 2018
Equity Bank to Launch More Special Branches for Rich Kenyans Depositing a Minimum of Sh200,000
Business

Equity Bank to Launch More Special Branches for Rich Kenyans Depositing a Minimum of Sh200,000

Equity Bank is set to launch new high-class branches targeting rich Kenyans depositing a minimum of Sh200,000 at a time. The move will bring the number of such exclusive banking outlets to 20 from the current 16 acros…

Jun 17, 2018
MPs Vow to Shoot Down Govt's Plan to End Cheap Loans for Kenyans
Business

MPs Vow to Shoot Down Govt's Plan to End Cheap Loans for Kenyans

A section of Members of Parliament have vowed to shoot down plans by the National Treasury to repeal the interest rate cap law that gave Kenyans access to cheap loans from banks. While reading 2018/2019 budget stateme…

Jun 16, 2018
Gov't Extends Amnesty Period for Rich Kenyans with Billions Hidden in Foreign Accounts
Business

Gov't Extends Amnesty Period for Rich Kenyans with Billions Hidden in Foreign Accounts

The government has reassured rich Kenyans who have hidden their cash and assets abroad that they will not be pursued if they return them to the country. National Treasury Cabinet Secretary Henry Rotich said government…

Jun 16, 2018
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Winners and Losers of Kenya’s Sh3.07 Trillion 2018/2019 Budget
Business

Winners and Losers of Kenya’s Sh3.07 Trillion 2018/2019 Budget

There were winners and losers in the Sh3.07 trillion 2018/2019 financial year budget unveiled by Treasury Cabinet Secretary Henry Rotich on Thursday. Local manufacturers of steel, textile and timber are among the bigg…

Jun 15, 2018
Kenya's Public Debt Hits Sh5 Trillion Mark as Appetite for Borrowing Grows
Business

Kenya's Public Debt Hits Sh5 Trillion Mark as Appetite for Borrowing Grows

Kenya’s public debt has hit Sh5 trillion mark for the first time, raising questions over the country’s ability to sustain the load in long term. As at February this year, Kenya's total outstanding external debt stood…

Jun 15, 2018
No More Cheap Loans for Kenyans as Gov't Moves to Repeal Interest Rate Cap Law
Business

No More Cheap Loans for Kenyans as Gov't Moves to Repeal Interest Rate Cap Law

Treasury Cabinet Secretary Henry Rotich has announced the state will revise the interest rates capping law that took effect in September 2016, a move that will put to an end access of cheap loans by Kenyans. In what c…

Jun 15, 2018
Kenyan Gov't to Impose Increased Taxes on Mobile, Bank Cash Transfers
Business

Kenyan Gov't to Impose Increased Taxes on Mobile, Bank Cash Transfers

The government is set to impose increased taxes in mobile money service in the coming financial year in a proposal by Treasury Cabinet Secretary Henry Rotich in the Sh3.074 Trillion 2018/2019 budget. While reading the…

Jun 14, 2018
Highlights Of The 2018/2019 Budget
Business

Highlights Of The 2018/2019 Budget

Treasury Cabinet Secretary Henry Rotich has indicated that Kenya will spend approximately Ksh2.55 trillion in the 2018/2019 financial year. Reading the Sh3.07 billion total budget for the fiscal year at the National A…

Jun 14, 2018
Kenya to Unveil a Record Sh3.07 Trillion 2018/2019 Budget
Business

Kenya to Unveil a Record Sh3.07 Trillion 2018/2019 Budget

Kenya is set to unveil an all-time high budget of Sh3.07 trillion for the 2018/19 financial year to be tabled before Parliament. In the 2017/2018 budget, Kenya spent Sh2.6 trillion. The government will be forced to bo…

Jun 12, 2018
Kenyan Gov't Sets Aside Sh1 Billion for Cuban Doctors
Business

Kenyan Gov't Sets Aside Sh1 Billion for Cuban Doctors

The National Treasury has set aside Sh1 billion to cater for wages and other allowances for the 100 Cuban doctors who arrived in the country last week. A breakdown of Treasury report tabled to the National Assembly’s…

Jun 12, 2018
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Millions of Kenyans Consuming Poisonous Sugar
Business

Millions of Kenyans Consuming Poisonous Sugar

The government says millions of Kenyans are consuming poisonous sugar which is being sold in outlets across the country disguised as local brands. This comes after Deputy Head of Public Service Wanyama Musiambo, Inspe…

Jun 10, 2018
Kenyans Rush to File Tax Returns Ahead of June 30th Deadline
Business

Kenyans Rush to File Tax Returns Ahead of June 30th Deadline

About 1.3 million Kenyans have filed their tax returns three weeks to the June 30th deadline, setting a new record. Kenya Revenue Authority (KRA) said the compliance represented an improvement by 400,000 compared to t…

Jun 9, 2018
East African Community to Launch Common Currency
Business

East African Community to Launch Common Currency

Citizens from the six East African countries are soon set to transact their businesses using a single currency as per the Monetary Union Protocol signed in 2013. Kenya's East African Community Cabinet Secretary Peter…

Jun 9, 2018
Equity Group Billionaire Founder Peter Munga Retires after 35-Year Stint
Business

Equity Group Billionaire Founder Peter Munga Retires after 35-Year Stint

Equity Group founder and Chairman Peter Munga is set to leave the bank after more than 30 years of service, the company has announced. Equity said Munga, who has been its Founder Chairman since 1984, will proceed on r…

Jun 6, 2018
Kenya Airways Introduces Direct Flights to South Africa
Business

Kenya Airways Introduces Direct Flights to South Africa

Kenya Airways has launched three direct flights to Cape Town, South Africa every week. The non-stop flights will leave Jomo Kenyatta International Airport (JKIA) in Nairobi to the South African city every Wednesday, F…

Jun 6, 2018
Nairobi MCAs Question How Sh297 Million was Wired into Australia's Maryland University Account
Business

Nairobi MCAs Question How Sh297 Million was Wired into Australia's Maryland University Account

Nairobi County Government finance department is on the spot after it was established that Sh297 million Bursary Fund was banked in the wrong account in Australia. Questions have been raised on how and who wired the hu…

Jun 6, 2018
Wealthy Kenyans With Billions Hidden in Offshore Accounts Rush to File Returns Ahead of Amnesty Deadline
Business

Wealthy Kenyans With Billions Hidden in Offshore Accounts Rush to File Returns Ahead of Amnesty Deadline

As June 30th deadline to file returns with Kenya Revenue Authority (KRA) fast closes in, a section of rich Kenyans who have hidden assets overseas are rushing to return the assets to avoid paying taxes. Tax consultant…

Jun 5, 2018
Kenya Pipeline Company Boss Joe Sang Denies Reports of Sh95 Billion Graft Scam
Business

Kenya Pipeline Company Boss Joe Sang Denies Reports of Sh95 Billion Graft Scam

Kenya Pipeline Company (KPC) Managing Director Joe Sang has refuted claims that the institution lost Sh95 billion in skewed tenders, terming the reports by the media as false and malicious.  Speaking to the media on T…

Jun 5, 2018
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