BUSINESS NEWS

A newly released report has ranked Kenya as the fifth richest country in Africa. The Africa 2018 Wealth Report lists Kenya’s total privately held wealth at Sh10.49 trillion, with a high percentage of it being held by a few individuals. South Africa is the richest nation in the continent with a net…

Kristina Pratt, the elder sister to President Uhuru Kenyatta has sued Richard Thande, the former captain of Karen Country Club, for defaulting on a Sh5 million loan. In a suit filed at Milimani Commercial Courts in Nairobi, Pratt says that the businessman breached a repayment agreement reached on…

A new report has named Nairobi as the sixth wealthiest city in Africa and the richest in the East African region. The study conducted by New World Wealth and AfrAsia Bank from Mauritius shows that Nairobi’s privately held wealth stands at a whooping Sh5.4 trillion. The report says the Kenyan…

Police in Eldoret town have impounded several tonnes of rotten fish allegedly imported from China and destined for sale in the Kenyan market. The lorry ferrying the fish was dangerously parked on a pedestrian footpath near Eldoret town when Uasin Gishu Governor Jackson Mandago spotted it. He…

Kenya Airways has announced it will launch direct cargo flights to the United States on December 1st. Kenya Airways Chief Executive Officer Sebastian Mikosz said the airline is still waiting for further approvals from customs, agriculture and medical authorities for it to commence direct cargo…

A city businesswoman has launched an online taxi hailing service in Nairobi exclusively for female customers. Entrepreneur Mehnaz Sarwar has unveiled an online taxi application dubbed An Nisa, which will only recruit women drivers and carry females only. The move comes amid rising concerns over…

Kenya Airways (KQ) has received an authorization letter allowing it to commence direct flights to the United States. The letter was officially presented by the outgoing American Ambassador to Kenya Robert Godec on Thursday in a ceremony attended by Transport Cabinet Secretary James Macharia among…

Kenyans of Indian descent have returned more than 13 billion shillings that was hidden in foreign accounts. The affluent Kenyans are taking advantage of the tax amnesty on assets stashed abroad announced by Treasury Cabinet Secretary Henry Rotich last year and extended earlier this year. The Times…

Ekeza Savings and Credit Cooperative Society will know its fate in three months time, Commissioner of Co-operatives Mary Mungai says. Ms Mungai said a verdict will be given after liquidators complete their work even as her agency prepares refunds to members who had saved Sh50,000 and below. She…

United Arab Emirates (UAE) has been named the fastest growng destination for Kenyan travellers in the last 12 months. An analysis carried out by Travelport - one of the world's leading travel commerce platforms -  showed that the UAE recorded the highest increase of flight bookings from Kenyan…