BUSINESS NEWS

Kenyans have been warned of the resurgence of an international phone calls scam that has seen several unsuspecting people across the world lose millions of shillings worth of credit. In a statement, Communication Authority (CA) issued a fresh warning on 'Wangiri fraud', which hit Kenya four months…

Nairobi's popular curio market, Maasai market located opposite Sarit Center in Westlands has been demolished. The famous market was brought down under heavy police presence on Thursday morning in anticipation of protests by stall owners. Reports indicate that the market was demolished by Kenya…

Kenya's telecommunications giant Safaricom on Wednesday announced a Sh55.29 billion profit for the year ending March 31st, a 14.1 percent increase compared to Sh48.4 billion the previous year. The results, largely driven by M-Pesa and data revenues, were announced by the telco's Chief Finance…

Safaricom Chief Executive Officer (CEO) Bob Collymore, who has been away on a medical leave for several months has announced his return to the mobile service provider. In a video shared to staff and shareholders on Wednesday, Collymore announced the firm had posted a 14.1 per cent jump in net…

A scheme used by rogue Kenyan drivers working for taxi-hailing service, Uber to overcharge riders has been exposed. The drivers have allegedly been using dummy apps to extend the distance travelled by the customers in a bid to charge them increased fees. The dummy apps allows the drivers to…

Kenyan mobile service provider firm, Telkom Kenya is set to hand over 723 of its telecommunication towers to a United States company, American Tower Corporation (ATC) after the two firms signed an agreement for an undisclosed amount. The deal will grow the multinational's presence in the East…

Facebook, the world's leading social networking site, is set to launch a dating service in what is seen as a bid to challenge other popular dating apps such as Tinder. The firm will unveil features within its app to enable users to connect to other people who are keen to establish relationships.…

The United States has cut Sh200 million aid to a Kenyan family planning clinic, Family Health Options Kenya (FHOK), for defying President Trump's policy on abortion, Washington-based National Public Radio (NPR) reported on Wednesday. The facility lost 60 per cent of its budget for failing to…

The Ministry of Education has announced a 100 per cent waiver on Higher Education Loans Board (HELB) penalties. Speaking during HELB employers' forum in Nairobi on Thursday, Education Cabinet Secretary Amina Mohamed said the waiver will only apply on beneficiaries who clear the arrears in lump sum…

US-based technology company Microsoft has opened a software testing centre in Nairobi, the first in the African continent. Microsoft launched the Nairobi center through a partnership with Techno Brain, a Kenyan Information Technology (IT) company. Microsoft will outsource its testing and quality…