BUSINESS NEWS

180 Kenyans defied last year's sluggish economy to enter the exclusive club of dollar millionaires. This effectively increased the number of individuals with a net-worth of more than Sh500 million to 1,290. A new report indicates that the turbulent economic times precipitated by drought and…

Kenyans could soon pay higher interest rates for loans taken from commercial banks following new plans to reverse a law that capped the rates at 14 percent. This follows pressure on Kenya by the International Monetary Fund (IMF) to either repeal or replace the law that controls interest rates. In…

Nairobi has been identified as one of the cities where the ambitious flying cars plan will be launched. McFly.aero, the firm behind the ambitious project said plans are underway to set up the infrastructure for air taxis service in 23 cities in 13 countries; including Nairobi. The project will see…

A new report that highlights the number of highly wealthy individuals in the country indicates that ten Kenyans are cumulatively worth more than Sh500 billion. The yearly wealth report released by Knight Frank and CFC Stanbic further points out that another 10 Kenyans joined the exclusive league of…

National Treasury Cabinet Secretary Henry Rotich has clarified Wednesday reports that quoted him saying that the government was broke. Speaking on Thursday during the 'Girls Matter' event at the Kenyatta International Convention Centre (KICC) in Nairobi, Rotich termed the reports as "fake news",…

Inspector General of Police Joseph Boinnet has introduced major changes in the National Police Service (NPS) which will dissolve the controversial Traffic Police Department. In the new changes by Boinnet, the roles of the Traffic Department will be assigned to any police officer from the various…

National Treasury Cabinet Secretary Henry Rotich has admitted that the government has run out of cash. Appearing before Senate Budgetary Committee on Wednesday, Rotich said the government has not been able to raise enough cash in terms of revenue. To deal with the situation, Rotich said the…

Jomo Kenyatta International Airport (JKIA) has been named as the the best improved airport in the Africa continent by the Airports Council International (ACI). The global Airports body said JKIA won the award following its improved customer service based on the responses from passengers after a…

Kenya has banned the importation of meat from South African following the outbreak of a deadly bacterial disease Listeria linked to factories in the country. The ban, announced by the Kenya Public Health department follows similar bans by other African countries including Namibia, Malawi,…

Kisumu governor Anyang' Nyong’o has picked a new fight with his nephews over the sharing of the multi-million property left behind by his late father. In a response to a case where two of his nephews sued him over the sharing of the property, the Governor said the two are opportunists taking…