BUSINESS NEWS

Struggling Kenyan retail chain Nakumatt is counting losses of up to Sh200 million after its stock was looted by residents following a controversial eviction from one of its outlets in Nairobi. Auctioneers led by the National Social Security Fund (NSSF) and security officers stormed Nakumatt's…

The Nairobi County Government on Thursday  netted a record daily revenue of Sh120 million through the online Jambo Pay system. Governor Mike Sonko said his administration has set a target of collecting Sh1.6 billion in revenue by the end of March. He noted that the cashless payment system had…

Sergey Mavrodi, a convicted Russian fraudster who operated a web-based pyramid scheme that swindled millions of shillings from Kenyans has passed away in Moscow. Mavrodi reportedly succumbed to a heart attack in the Russian capital on Sunday. The 62-year-old founded the Mavrodi Mondial Moneybox (…

Kenya Airways (KQ) has revealed plans of launching a special Economy class for clients flying on its flights. The airline said the special category will be more spacious and comfortable compared to the ordinary Economy class. However, the special Economy class, which will be launched on its nine…

Kenya's giant mobile service provider Safaricom has announced a major disruption of its key services to pave way for system maintenance. The system upgrade will see some of its crucial services including; airtime top up, Okoa Jahazi, airtime and data transfer, internet data and SMS bundle purchases…

A new report released by the Kenya National Bureau of Statistics (KNBS) has ranked the richest and poorest counties in Kenya. In the report, Nairobi has been ranked as the county with the lowest share of poor population, with only 17 people in every 100 living in poverty. Following closely is Nyeri…

The Nairobi County Government is set to launch a fresh bid to ban public service vehicles (PSVs) from entering the central business district. This is one of the means that Governor Mike Sonko's administration plans to use to ease the traffic nightmare within the Kenyan capital city. Last year, the…

Kenya Airways (KQ) continues to make preparations for the launch of the much anticipated direct flights to the United States. In its latest move, the airline has recalled two Dreamliner planes that had been leased out to Oman Air two years ago, with one of them scheduled to be used for the…

Retired President Mwai Kibaki has regained the control of a multi-million shilling company established in the 1970s. Kibaki and seven other directors had been stripped off the powers to manage Mathingira Wholesalers Company Ltd in 2016, after the Environment and Lands Court sitting in Nyeri ruled…

US-based technology firms Facebook and Uber are seeking to test drone activities in Kenya following government move to legalize the use of Unmanned Aerial Vehicles (UAVs). The two companies have written to the Kenya Civil Aviation Authority (KCAA) seeking permission to use drones in the country…