BUSINESS NEWS
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A new report by a global financial investigative magazine shows that Kenya’s giant betting company, SportPesa made a whopping $1 billion (Sh100 billion) in 2018.
The report by Finance Uncovered said that SportPesa made the billions in Kenya alone last year but this information was never made public…
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Kenyan supermarket chain, Naivas has suspended the sale of red meat in its outlets across the country pending the results of an independent test on its meat stock.
In a statement, the supermarket said the entire stock of red meat in its stores will be subjected to a thorough independent laboratory…
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Kenya Railways Corporation (KRC) is embroiled in a battle for control of Standard Gauge Railway (SGR) billions with a Chinese operator.
KRC is reportedly seeking to take over revenue collection duties from a Chinese company that operates passenger train, Madaraka Express, according to Sunday Nation…
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Giant Kenyan betting company SportPesa has protested the latest move by the government that has paralyzed its operations.
In a statement, SportPesa said the government's directive for withdrawal of its pay bill numbers was illegal, malicious and prejudicial.
The company accused the Betting Control…
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The government has given millions of sports’ gamblers in Kenya 48 hours to withdraw funds deposited in betting companies’ wallets or lose them.
This means gamblers have until Friday night to withdraw the cash following the directive issued on Thursday by the Ministry of Interior.
The…
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The late Kenyan billionaire Njenga Karume’s Jacaranda Hotel in Nairobi's Westlands area is set to be auctioned over Sh257.6 million debt.
The four-star hotel has been put up for auction to recover the huge debt owed to Guaranty Trust Bank, reports Business Daily.
Guaranty Trust Bank has…
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A US investment company filed a lawsuit against a Kenyan farmers' co-operative society over failure to service a loan that has now accumulated to Sh36.6 million.
Root Capital Incorporated, an investment company based in Massachusetts, has sued Nyeri's Tekangu Coffee Farmers’ Co-operative Society…
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US coffeehouse chain Starbucks has refuted reports appearing in a section of local media claiming that it was planning to enter the Kenyan market.
A representative of Taste Holdings, the brand’s South Africa-based franchise holder told Business Daily that there were no such plans.
“We have no…
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Safaricom interim CEO Michael Joseph has defended the decision by the company's board to appoint him to the position following the death of Bob Collymore.
This comes after questions were raised on why the board did not settle on one of the Kenyan senior Safaricom officials.
Speaking during an…
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Safaricom has announced that all shops across the country will close for four hours on Thursday in honor of their late CEO Bob Collymore.
The telecommunications company said the outlets will remain closed from 10:30 am to 2:30 pm during Collymore's memorial service at All Saints Cathedral in…
