BUSINESS NEWS

The scramble for former Cabinet Minister Njenga Karume's multi-billion shilling estate is set to take a fresh twist in a tussle pitting his children and trustees. The latest tussle has been sparked by an advertisement placed in Daily Nation by the trustees inviting buyers for 11 parcels of land…

Nakumatt founder Atul Shah says he lost at least Sh125 million following the demolition of Ukay Centre in Nairobi's Westlands area on Friday morning. Atul, who watched the bulldozer flatten the building that housed Nakumatt Ukay said he had managed to salvage about 50 percent of his property. The…

Kenyans can now ride on electric-powered cars after EkoRent, a Finland company dealing in electric mobility unveiled full electric cabs in Nairobi. The company launched Nopia ride at the Two Rivers Mall in Ruaka on Thursday, making it East Africa’s inaugural electric mobility service. “We have now…

Safaricom Chief Executive Officer (CEO) Bob Collymore pocketed about Sh540,000 per day in remuneration, the company's annual report has revealed. The yearly report from Safaricom's financial year ending March, 2018 shows that Collymore earned a total of Sh196.47 million, translating to Sh16.4…

American Tower Corporation (ATC) has received the go-ahead for acquisition of more than 700 telecommunications towers from Telkom Kenya. ATC received the nod from the Competition Authority of Kenya (CAK) for acquisition of the 723 towers, marking the multinational's entry into the Kenyan market.…

A new email scam targeting PayPal users has hit the internet, leaving customers at risk of losing their cash. The malicious email is crafted to appear like an official communication from PayPal's address ‘service@paypal.com’ and aims at having users install malware on their computers and phones.…

Nairobi Governor Mike Sonko has ordered the cancellation of licenses for all Chandarana Foodplus supermarkets in the city. Sonko announced the shutdown of the chain retailer following claims of racial bias that have sparked outrage from Kenyan social media users. In a statement to newsrooms, the…

Investments in Kenya by the United States have increased in the past few months, entries in the American business deal book in Kenya shows. The increased investment shows US's renewed efforts to reclaim its financial and investment portfolio and influence in Kenya in the wake of intense competition…

Government has reinstated the operation license to Ekeza Sacco following a ban that lasted for four months. The Sacco was shutdown through a gazette notice issued by Commissioner for Co-operative Development Mary Mungai on March 23rd. Mungai cancelled the society's license on claims of the Sacco…

Kenya Airways has acquired the 'world's fastest and most efficient' passenger jet, Embraer E190-E2 from Brazilian aircraft maker Embraer S.A.  The latest acquisition adds to KQ's existing fleet of Embraer 190, making it the largest E190 operator in Africa. Embraer E190-E2 is an improvement of…