BUSINESS NEWS
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The amount of cash stashed by wealthy Kenyans in foreign accounts increased in 2017 despite spirited efforts by the government to have the assets returned to Kenya.
Money hidden by Kenyans in Swiss accounts grew by 4.3 per cent to Swiss francs 950 million (Sh96 billion) last year, up from 911.4…
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The government is set to introduce taxation on airtime received by Kenyan workers from their
employers beginning August 1st, 2018, in a new Bill published by Treasury Cabinet Secretary Henry Rotich.
The new taxes will also be imposed on allowances offered to employees including house, meals,…
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The Communications Authority of Kenya (CA) has revealed that Kenyans transacted a record Sh1.8 trillion through mobile cash platforms between January and March, 2018.
Of the Sh1.8 trillion, Safaricom's Mpesa service accounted for Sh1.48 trillion.
Equitel Money subscribers transacted Sh389 billion…
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The Standard Gauge Railway (SGR), which was dubbed the biggest infrastructural project in the history of Kenya made a loss of close to Sh10 billion in its first year of operation.
Figures from the ministry of Transport shows that the railway recorded a loss of Sh9.89 billion since it was…
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A suspected fraud attack at Chase Bank has reportedly paralyzed key services at the lending institution in the last five days.
Since Sunday, customers have not been able to access key services such as debit card transactions and mobile cash transfer services.
Only over-the-counter services…
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A South African national living in Kenya has become the latest winner of a multi-million shilling apartment in the Safaricom's MpesaTu promotion.
49-year-old Eric Lindenberg was handed keys to the Sh7.8million house located in Nairobi, becoming the second Mpesa user to win an apartment in the…
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US-based technology firm Cisco Systems is set to launch an innovation hub in Nairobi later this year.
Cisco seeks to recruit tech enthusiasts in the country with the Sh50 million ($500,000) lab that has a capacity of at least 50 developers per cohort.
The company looks to host different groups…
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Kenya has been ranked Sub Saharan Africa's third most innovative country in the Global Innovative Index (GII) 2018.
The index named access to microfinance loans, innovation linkages and exports of creative services, workforce efficiency, printing and other media as some of the Kenya's strengths.
“…
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The government has denied that the contract for the construction of Sh300 billion Nairobi-Mombasa expressway was awarded to American company Bechtel.
Speaking when he appeared before Parliament’s Implementation Committee, Transport and Infrastructure Cabinet Secretary James Macharia refuted claims…
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The Kenya Revenue Authority (KRA) has formulated new tough regulations in a bid to tame unlicensed tax agents in the country.
The tax agency has published the Tax Procedures (Tax Agents) Regulations 2018 that require all tax agents be members of the Institute of Certified Public Accountants of…