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Business

Treasury CS John Mbadi Unveils 3-Year Tax Cut Plan to Boost Economy
Business

Treasury CS John Mbadi Unveils 3-Year Tax Cut Plan to Boost Economy

Treasury Cabinet Secretary John Mbadi has unveiled an ambitious plan to reduce taxes over the next three years, aiming to alleviate the financial burden on Kenyan citizens. The plan, which includes lowering the Value…

Sep 9, 2024
Maize Flour Prices Plummet Amid Bumper Harvest
Business

Maize Flour Prices Plummet Amid Bumper Harvest

Ugali lovers can soon enjoy affordable servings as maize prices sharply decline due to the current harvest and the influx of low-cost produce from East African Community countries. The price of maize has plummeted fro…

Sep 2, 2024
Kenyan Shilling Holds Steady for a Week as Forex Market Finds Balance
Business

Kenyan Shilling Holds Steady for a Week as Forex Market Finds Balance

The Kenyan shilling demonstrated remarkable stability during the week of August 26 to August 30, 2024, maintaining a consistent exchange rate of 129.25 against the US dollar. This steadiness is attributed to a balance…

Aug 31, 2024
Kenya Emerges as Top African Investment Destination in 2024 Deloitte Survey
Business

Kenya Emerges as Top African Investment Destination in 2024 Deloitte Survey

Kenya has emerged as a premier investment destination in Africa, alongside South Africa, Nigeria, and Tunisia. The 2024 Deloitte Africa Private Equity Confidence Survey (PECS) highlights Kenya's attractiveness, attrib…

Aug 30, 2024
Safaricom Sounds Alarm on Starlink's Kenyan Market Entry
Business

Safaricom Sounds Alarm on Starlink's Kenyan Market Entry

The entry of Starlink, a satellite internet provider owned by Elon Musk's SpaceX, into the Kenyan market has sparked controversy and concern from Safaricom, Kenya's leading telecommunications company. In a formal comm…

Aug 26, 2024
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Kenyan Shilling Set to Strengthen as Dollar Demand Eases
Business

Kenyan Shilling Set to Strengthen as Dollar Demand Eases

The Kenyan Shilling is poised to strengthen against the US Dollar in the coming week, driven by reduced foreign currency demand from fuel importers and manufacturers. Industry experts anticipate a slight stabilization…

Aug 23, 2024
President Ruto's Backing of JKIA Deal Sparks Outcry Over Elite Capture
Business

President Ruto's Backing of JKIA Deal Sparks Outcry Over Elite Capture

The recent controversy surrounding the potential sale of Kenya's primary airport has rapidly evolved from mere social media speculation to a noteworthy issue of elite capture. What initially appeared to be a minor dis…

Aug 3, 2024
Matatu Industry Issues 7-Day Ultimatum on Increased Fuel Levy
Business

Matatu Industry Issues 7-Day Ultimatum on Increased Fuel Levy

The public transport sector in Kenya has issued an ultimatum to the government, threatening industrial action if the recently increased road maintenance levy is not rescinded. The levy, which was raised from Sh18 to S…

Jul 24, 2024
Gachagua's Travel and Hospitality Budget Slashed by Sh1.8 Billion
Business

Gachagua's Travel and Hospitality Budget Slashed by Sh1.8 Billion

The office of Deputy President Rigathi Gachagua faces significant budget cuts for the current fiscal year. In the recent round of austerity measures by Ruto's regime, Gachagua's office endures a substantial reduction…

Jul 17, 2024
US Businesses Expose Corruption Among Kenya Government Officials
Business

US Businesses Expose Corruption Among Kenya Government Officials

American investors seeking opportunities in Kenya face the challenge of persistent demands for bribes from government officials. This issue has come to light in the 2024 Biennial Report on the Implementation of the Af…

Jul 11, 2024
Kenya-US Data Hub Project at Risk as Chinese Influence Raises Red Flags
Business

Kenya-US Data Hub Project at Risk as Chinese Influence Raises Red Flags

Kenya and the United States recently signed a Sh127 billion technological deal to establish an advanced data centre in Olkaria. This project, a collaboration between Microsoft and a UAE-based multinational company, ai…

Jul 6, 2024
Treasury Bond Auction Falls Short as CBK Collects Only Sh488 Million of Sh20 Billion Goal
Business

Treasury Bond Auction Falls Short as CBK Collects Only Sh488 Million of Sh20 Billion Goal

Kenya is grappling with a renewed crisis of investor confidence following violent protests that forced the government to abandon proposed tax increases. The demonstrations, which began in June against a finance bill a…

Jul 5, 2024
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Chinese Goods Dominate Kenya's Import Market
Business

Chinese Goods Dominate Kenya's Import Market

China remains Kenya's primary source of imports despite efforts by President William Ruto to strengthen ties with Western nations. This is according to recent data from the Kenya National Bureau of Statistics (KNBS)…

Jul 5, 2024
Kenya's Tourism Revenue Soars to All-Time High of Sh352 Billion
Business

Kenya's Tourism Revenue Soars to All-Time High of Sh352 Billion

The tourism industry in Kenya has experienced significant growth in recent years. Despite the setbacks caused by the COVID-19 pandemic, the sector has made a strong comeback drawing millions of visitors and substantia…

Jul 3, 2024
How Nairobi Tech-Savvy Scammers Target 73 Million Mobile Accounts
Business

How Nairobi Tech-Savvy Scammers Target 73 Million Mobile Accounts

In today's interconnected world, protecting personal information has become crucial. Kenya faces growing challenges in safeguarding consumer data and preventing fraudulent schemes. The TransUnion 2024 State of Omnicha…

Jul 3, 2024
Kenya Poised to Lead East African EV Revolution with MojaEV Launch
Business

Kenya Poised to Lead East African EV Revolution with MojaEV Launch

Electric mobility firm MojaEV Kenya on June 28, inaugurated its flagship showroom in Nairobi. As the exclusive distributor of Neta Electric Vehicles in Africa, MojaEV aims to transform Kenya's transport sector by prom…

Jun 29, 2024
3 Million Kenyans Have 72 Hours to File Tax Returns
Business

3 Million Kenyans Have 72 Hours to File Tax Returns

As of June 26, approximately six million Kenyans had successfully filed their tax returns representing a 20% increase compared to the same period in the previous year. However, around three million taxpayers have yet…

Jun 28, 2024
JKIA to Construct 20-Million Traveler Capacity Terminal
Business

JKIA to Construct 20-Million Traveler Capacity Terminal

Jomo Kenyatta International Airport (JKIA) is set to undergo a substantial expansion including the addition of a new terminal designed to accommodate an impressive 20 million travelers annually. This development marks…

Jun 23, 2024
Who Profited from Sh1 Billion Public Furniture Contracts?
Business

Who Profited from Sh1 Billion Public Furniture Contracts?

On February 21, 2024, Nakuru County initiated the budgeting process for the forthcoming financial year and awarded a contract to Taigon Enterprises Ltd for the renovation of their headquarters. Reports indicate that T…

Jun 22, 2024
Family Bank's Newly Appointed Chairman Mungai Dies in the US
Business

Family Bank's Newly Appointed Chairman Mungai Dies in the US

Family Bank Board of Directors has announced the death of their recently chosen chairperson, Francis Gitau Mungai. Mungai's association with Family Bank dates back to 1996 when he first supported the bank as a loyal c…

Jun 19, 2024
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