BUSINESS NEWS

The Hustler Fund, officially known as the Financial Inclusion Fund, is grappling with significant challenges in loan recovery. Acting CEO Elizabeth Nkukuu has informed Members of Parliament that the fund has reached an impasse in its efforts to recoup outstanding loans. A substantial portion of…

The Kenyan shilling demonstrated remarkable stability in September, maintaining a consistent exchange rate of Sh129.19 against the US dollar. This steadiness defied expectations of appreciation following the US Federal Reserve's interest rate reduction two weeks prior. Market participants…

The Kenya Information and Communications (Amendment) Bill, 2022 has entered its second reading in Parliament, reigniting efforts to separate mobile money services from telecommunications operations. This legislative proposal mandates that telcos like Safaricom, Airtel, and Telkom Kenya obtain…

American satellite internet company Starlink has expanded its offerings in Kenya with the introduction of a more affordable and portable option called 'Starlink Mini'. This new package launched globally on June 21, is now available for purchase by Kenyan subscribers, as announced by the company on…

The Kenyan Shilling has demonstrated remarkable resilience against the US Dollar, experiencing a notable strengthening on Wednesday driven by increased demand from companies for the local currency. This surge in demand has alleviated pressure on the Kenyan Shilling, resulting in gains against the…

A Kenyan farm manager was honoured on Wednesday at the United Nations General Assembly (UNGA) in the USA for leading the best innovative and sustainable agricultural practices. Kevin Getobai, the manager of Ololo Farm and Lodge in Kenya, has been recognized for his innovative and sustainable…

President Ruto has defended allowing Elon Musk's Starlink satellite internet company to enter the Kenyan market. At the Kenya Business and Investment Roundtable in New York, President Ruto emphasized that Starlink's introduction has fostered healthy competition within the country's…

Kenya has made a notable stride in its international economic relations by finalizing a Double Taxation Agreement (DTA) with Singapore. This accord, reached during the United Nations General Assembly, marks Singapore as the 50th nation to establish such an arrangement with Kenya. The agreement aims…

The transition to electric tuk-tuks in Mombasa is gaining momentum, heralding a green revolution in the city's transportation sector. Stakeholders are urging the county government to create an enabling environment to facilitate this shift, as the current infrastructure is deemed insufficient to…

The Kenyan government has entered into several secret, high-value deals with the Indian conglomerate Adani Group and other entities which have raised concerns among Kenyans. At the centre of the debate is a proposal for the Adani Group to operate Jomo Kenyatta International Airport (JKIA) under a…