BUSINESS NEWS
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Kenya’s giant telecommunications company, Safaricom is planning to buy a stake in Ethiopia’s State-owned Ethio Telecom.
Acting Safaricom CEO Michael Joseph indicated the company is considering buying shares in Ethio Telecom, the world’s largest telecoms monopoly. Joseph said Safaricom also has…
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The State is holding more than Sh12 billion in unclaimed assets as only 7,000 Kenyans applied to be reunited with their properties in the past seven years.
Since it was established in 2013, the Unclaimed Financial Assets Authority (UFAA) is holding assets worth Sh13 billion belonging to two million…
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Rwandan President Paul Kagame on Monday opened Africa’s first smartphone factory in the country’s capital, Kigali.
Mara Group, a Rwandese company unveiled two smartphone brands on Monday dubbed Mara X and Mara Z.
Mara X and Mara Z use Google’s Android operating system and will cost around 175,750…
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Kenya’s largest betting company, SportPesa has fired all employees days after it announced its decision to shut down operations in the country.
More than 400 SportPesa staff were informed about the laying off during a meeting called by CEO Ronald Karauri at the company’s headquarters at Nyaku House…
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Kenya Revenue Authority (KRA) cannot reportedly trace Sh803 billion repatriated back to the country from offshore accounts by wealthy Kenyans since mid-2016.
On Tuesday, a KRA top official said they are not sure whether the money was used for the intended purpose of development or was wired back…
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Kenya's largest betting company, SportPesa has shut down operations in the country citing hostility from the government.
SportPesa announced the move following its recent taxation and regulatory tussle with the Kenyan government, which saw its license withdrawn.
The bookmaker is protesting the…
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President Kenyatta on Tuesday urged US investors to consider Kenya as their investment destination.
Kenyatta, who spoke at a forum hosted by the American Chamber of Commerce and attended by top executives from leading US multi-nationals, said Kenya has exciting investment opportunities for US…
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Kenya Airways (KQ) is set to sell seven of its aircraft in a sale deal expected to earn the loss-making airline billions of shillings.
The sale of the planes is part of the airline’s efforts to cut its fleet in a bid to strengthen its financial position, Business Daily reported.
In the plan, KQ is…
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Central Bank of Kenya (CBK) suspects that Kenyans holding dirty cash could be buying wheat in a bid to clean it ahead of the September 30th deadline.
Speaking on Tuesday, CBK Governor Dr. Patrick Njoroge said the sudden surge in the number of Kenyans buying wheat using the old Sh1,000 note in…
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Kenya Revenue Authority (KRA) is set to begin monitoring individuals’ Mpesa transactions in a bid to nab tax cheats.
KRA, which is seeking to net 1.9 trillion this year, suspects that some taxpayers who receive their income through mobile money and other online cash transfer platforms such as…
