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US President Donald Trump Proposes Reduction of Assistance to Kenya

Kenya has been dealt a financial blow after the United States President Donald Trump proposed a cut in development assistance to Kenya by Sh7 billion as he endeavors to fulfill his campaign pledges of cutting out on f…

May 25, 2017

Business

US Congress Demands Documents on Sh43 Billion Kenya Arms Deal

A US Congress investigative committee has demanded it be served with key documents of the proposed Sh43 billion sale of border patrol aircraft to Kenya by the United States meant to be used in subduing the Al Shabaab…

May 24, 2017

Business

Kenya to Extend Plastic Ban on Water, Juice Bottles

The government through Environment Cabinet secretary Judi Wakhungu has announced that it will be extending the ban on plastic bags use to plastic bottles in the continued attempts to curb environmental pollution. The…

May 23, 2017

Business

President Uhuru to Launch New Standard Gauge Railway, Ride on Maiden Trip

The Mombasa-Nairobi new Standard Gauge Railway (SGR) is set to begin operations after the official launching by President Uhuru Kenyatta on May 31st in an event that will be attended by senior officials from the Chine…

May 22, 2017

Business

US Pretzel Chain Set to Enter Kenya, a Growing Market for American Fast Food Companies

American pretzel chain Mr Pretzel is set to be the latest US fast food chain to enter Kenya, a growing market for fast foods. Mr Pretzel has announced it is partnering in a franchise model with Kenyan bakery company S…

May 21, 2017

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Business

'Hungry' Kenyans Storm Supermarkets for Cheap Unga

Kenyans on Thursday flocked supermarkets and stores to scramble for the government subsidized maize flour, which prompted the stockists to limit the number of packets of the commodity one could buy. Several supermarke…

May 19, 2017

Business

Volvo to Set Up Sh2.5 Billion Assembly Plant in Kenya

Volvo Group has announced that it will be investing Ksh2.5 billion in assembly plant in Mombasa that will serve the growing East African market. Volvo Trucks President Claes Nilsson said the assembling plant will only…

May 19, 2017

Business

Boost for Kenya as More Oil is Discovered

Kenya has received a major boost as far as petroleum exportation is concerned after more oil has been discovered in South Lokichar basin in Turkana. Oil drilling firm Tullow Oil disclosed that it had discovered oil in…

May 18, 2017

Business

President Uhuru Secures Sh359 Billion from China for Standard Gauge Railway Extension to Kisumu

President Uhuru Kenyatta has negotiated an additional $3.59 (Sh359 billion) billion grant from China to facilitate the extension of the Standard Gauge Railway (SGR) from Naivasha to Kisumu. The head of state secured t…

May 16, 2017

Business

US-Based NGO Petitions 'Mitumba' Ban by Kenya and EAC

A US-based lobby group has filed a petition with American trade authorities challenging Kenya’s plan to band second hand clothes imports, commonly known as mitumba. East African Heads of State in 2015 agreed to work o…

May 16, 2017

Business

Mexico Denies Selling Maize to Kenya

In a fresh twist of events surrounding the importation of maize in Kenya to ease the current shortage, the Mexican Government denied exporting 30,000 tonnes of the grain to Kenya. The Mexican embassy in Kenya in a sta…

May 16, 2017

Business

BBC to Set Up Sh1 Billion MultiMedia Production Studio in Nairobi

The British Broadcasting Corporation (BBC) has announced that it will be investing nearly $10 million (Sh1 billion) to construct an Ultra-modern multimedia production studio in Kenya’s capital, Nairobi. The firm will…

May 14, 2017

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Safaricom Launches New 'M-Pesa 1 Tap' Splution

Business

Safaricom Launches New 'M-Pesa 1 Tap' Solution

Kenya’s leading Mobile services provider Safaricom has launched tests on a new M-Pesa tool that aims at cutting the transaction process from eight steps to just one. The new technology dubbed M-Pesa 1 tap makes use of…

May 11, 2017

Business

Trump's Aid Cuts to Hurt Kenya

A proposal by President Donald Trump to have the United States reduce its foreign aid by 30 per cent will see deeper cuts in aid to Kenya. The United States this week suspended aid funds to the Ministry of Health over…

May 11, 2017

Business

Safaricom Net Profit Rises to Sh48 Billion, to Pay Out Sh38 Billion in Dividends

Kenyan telecommunications giant Safaricom on Wednesday announced a Sh48 billion net profit for the fiscal year ending March 31st, 2017, which was a 27 percent increase over the previous year. Gross revenue stood at Sh…

May 10, 2017

Business

Kenya Commercial Bank to Close South Sudan Branches

Kenya Commercial Bank (KCB) will be closing several of its branches in war tone South Sudan as a result of deflation of the country’s currency, persistent civil war and run-away inflation that dwindled the bank earnin…

May 7, 2017

Business

Kenya Airways Hires Polish CEO to Spearhead Recovery

Kenya Airways has hired a Polish to spearhead the national carrier’s reversal plan following a series of hard times experienced by the carrier. Sebastian Mikosz will take over the mantle of leadership for the carrier…

May 6, 2017

Business

Dubai, the 'Playground' for Kenyans

Dubai has been named one of the leading destinations of choice for more than 15 million visitors annually owing to its magnificent structures; shopping malls and other tourists’ attraction sceneries and Kenyans have n…

May 6, 2017

Business

Direct Flights to US to Boost Kenya's Flower Exports

The Kenya Flower Council (KFC) is positive that the transport costs for flowers will lower by half with the nodding of direct flights between Kenya and the United States. Cargo flights which ship flowers to America fr…

May 4, 2017

Business

NGO Oversight Body Freezes Kalonzo Musyoka Foundation's Accounts over Unaccounted Sh146 Million in Donor Funds

Kenya’s Non-Governmental Organization Coordination Board has suspended the operations of Kalonzo Musyoka Foundation and frozen the NGO’s bank accounts. The Board’s Executive Director, Fazul Mohamed in a letter dated M…

May 2, 2017