BUSINESS NEWS

Kenyan company Keep IT Cool has been awarded the top prize in the 'Build a Waste-Free World' category at the prestigious Earthshot Prize ceremony held in Cape Town, South Africa. Emerging victorious from a pool of 15 global finalists, Keep IT Cool's innovative solutions have earned them a…

Kenya's telco, Safaricom now serves 46% of Ethiopia's population, just two years after entering the market. The telco has since reached at least 52 million of the country's 112 million people. This milestone achievement was today revealed by Safaricom's Group Chairman Adil Khawaja during the…

The Kenyan government is taking steps to enhance tax compliance and boost revenue collection by expanding the mandatory use of Personal Identification Numbers (PINs) for various government services. This move aims to enable the Kenya Revenue Authority (KRA) to monitor individuals' and companies'…

The skincare industry in Nairobi has experienced a surge in popularity, particularly due to the growing trend of body scrubbing at local spas. Once relegated to basic bar soap, body care has now become a lucrative segment of the $5.6 trillion wellness industry, with women and men alike flocking to…

Elon Musk, founder of Starlink satellite internet service, has addressed the company's recent decision to suspend new sign-ups in several African urban centers, including Nairobi. Through his X (formerly Twitter) platform, Musk emphasizes the company's ongoing efforts to enhance internet capacity…

Uber has partnered with Safaricom to provide free mobile data access for users of the Uber and Uber Eats applications. This collaboration ensures that drivers, delivery partners, riders, and merchants can utilize the platforms without incurring data charges, with Uber covering the associated costs…

Kenya's National Treasury has unveiled a new Tax Laws (Amendment) Bill, 2024, proposing changes to alcohol taxation, particularly affecting the pricing structure of wine and beer. This legislation, previously integrated into the controversial Finance Bill, 2024, introduces a novel approach to…

Kenya's digital marketplace is poised for significant transformation as the Ministry of Treasury and Economic Planning introduces comprehensive tax reforms. Treasury Cabinet Secretary John Mbadi has unveiled the Tax Laws (Amendment) Bill, 2024, marking a strategic shift in the government's approach…

The Kenya National Bureau of Statistics (KNBS) on Thursday listed electricity as one category of essential commodities whose prices increased in October 2024. In the energy sector, electricity costs witnessed modest upticks, with 200-kilowatt and 50-kilowatt consumption rates increasing by 0.2% and…

Safaricom's pioneering mobile money service, M-Pesa, has recorded its first-ever decline in agent numbers following the implementation of a new geo-locking security measure. The policy, designed to combat fraud, restricts agents to operating their tills within specific geographical boundaries,…