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Business

Ruto Yields to Pressure, Overhauls Controversial Tax Measures
Business

Ruto Yields to Pressure, Overhauls Controversial Tax Measures

President William Ruto's administration has demonstrated responsiveness to public sentiment by revising several contentious tax proposals outlined in the initial Finance Bill 2024. The revisions announced at State Hou…

Jun 18, 2024
Kenyan Shilling Ranked Africa's Top Currency Amid Economic Optimism
Business

Kenyan Shilling Ranked Africa's Top Currency Amid Economic Optimism

The Kenyan Shilling has earned accolades as the region's top-performing currency. This financial resurgence follows a remarkable 15-month growth streak that has seen the Shilling ascend to historic levels against the…

Jun 17, 2024
Kenyans Up in Arms Over Proposed Finance Bill 2024
Business

Kenyans Up in Arms Over Proposed Finance Bill 2024

The proposed Finance Bill, 2024, aimed at amending tax laws and revenue-raising measures has ignited a firestorm of public discontent in Kenya. As the nation's legislators prepare to deliberate the bill's fate, a reso…

Jun 14, 2024
Kenyans Driving Luxury Cars to Pay Sh400,000 Annually
Business

Kenyans Driving Luxury Cars to Pay Sh400,000 Annually

The Kenyan National Treasury has abolished the Sh100,000 cap on annual motor vehicle tax in a significant policy shift aimed at expanding the tax base. The announcement was made by Treasury Cabinet Secretary Prof Njug…

Jun 14, 2024
Kenya Government to Offload Stakes in 6 State-Owned Companies
Business

Kenya Government to Offload Stakes in 6 State-Owned Companies

President William Ruto's administration has unveiled an ambitious initiative to reshape state agencies by divesting government ownership in various companies. This strategic plan involves selling shares in six key ins…

Jun 11, 2024
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Eastleigh Developers in Limbo as Ruto Reverses Stance on High-Rise Construction
Business

Eastleigh Developers in Limbo as Ruto Reverses Stance on High-Rise Construction

The recent directives from President William Ruto regarding the height restrictions for high-rise buildings in Eastleigh, Nairobi, have sparked confusion and raised concerns among developers in the area. The contradic…

Jun 11, 2024
Cruise Ships Set for Kisumu Port
Business

Cruise Ships Set for Kisumu Port

The once-dormant Kisumu Port on the shores of Lake Victoria is set to experience a renaissance, thanks to the visionary Kisumu Port Resilient Infrastructure Project spearheaded by the Kenya Ports Authority (KPA). This…

Jun 7, 2024
Kenyan Taxpayers Bear Burden as Government Assumes Kenya Airways' $641M Debt
Business

Kenyan Taxpayers Bear Burden as Government Assumes Kenya Airways' $641M Debt

The Kenyan government has assumed the responsibility of servicing a substantial loan originally taken by the national carrier, Kenya Airways (KQ). The loan, amounting to $641.49 million (Sh83.4 billion), was provided…

Jun 7, 2024
Etihad Airways Indefinitely Delays Resumption of Abu Dhabi-Nairobi Flights
Business

Etihad Airways Indefinitely Delays Resumption of Abu Dhabi-Nairobi Flights

Etihad Airways has indefinitely delayed the resumption of its direct flights from Abu Dhabi to Nairobi. This announcement follows the airline's inability to initiate the flights on June 1, 2024, as previously schedule…

Jun 6, 2024
The Visionary Minds Exporting Kenya's Priciest Nuts
Business

The Visionary Minds Exporting Kenya's Priciest Nuts

Macadamia nuts, often referred to as "nature's gold," have become a prized commodity globally, celebrated for their rich flavour, creamy texture, and numerous health benefits. Kenya, a key player in macadamia producti…

Jun 6, 2024
World Bank Faults Ruto Tax Plans
Business

World Bank Faults Ruto Tax Plans

The Ruto administration in Kenya finds itself entangled in a complex web of fiscal challenges with revenue collection a formidable obstacle. The World Bank's recent warning about unrealistic revenue projections and th…

Jun 6, 2024
Brussels Airlines Comeback Flight to Nairobi Marks Renewed Confidence in Kenya
Business

Brussels Airlines Comeback Flight to Nairobi Marks Renewed Confidence in Kenya

Brussels Airlines has made a triumphant return to Nairobi after a hiatus of nearly a decade. Their return is spurred by Kenya's burgeoning corporate landscape and revitalized tourism sector. The Belgian national carri…

Jun 5, 2024
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Flight Price Could Rise by 40pc, Warns Kenya Association of Air Operators
Business

Flight Price Could Rise by 40pc, Warns Kenya Association of Air Operators

The Kenya Association of Air Operators (KAAO) has voiced strong opposition to the 2024 Finance Bill, citing its potential to disrupt the nation's air travel sector. The Bill proposes the implementation of Value-Added…

Jun 4, 2024
Kenyan Shilling Defies Global Trends, Maintains Value Against US Dollar
Business

Kenyan Shilling Defies Global Trends, Maintains Value Against US Dollar

The Kenyan shilling has remained resilient against the US dollar in recent days, despite fluctuations in global currency markets and economic trends. According to the latest report from the Central Bank of Kenya (CBK)…

Jun 3, 2024
Kenya's Inflation Rate Soars to 5.1%
Business

Kenya's Inflation Rate Soars to 5.1%

Kenya's inflation rate climbed to 5.1% in May 2024, reversing a three-month trend of decline. This rise signals a potential period of increased strain on household budgets. The primary driver of this inflation surge i…

May 31, 2024
BAT Increases Payout to Retain Dwindling Farming Workforce
Business

BAT Increases Payout to Retain Dwindling Farming Workforce

In a bid to address the declining number of contracted tobacco farmers, British American Tobacco (BAT) Kenya has taken the strategic step of increasing its tobacco leaf prices. This move aims to stem the mass exodus o…

May 27, 2024
Residents Raise Issues Prior to Tea Estate's Impending Sale
Business

Residents Raise Issues Prior to Tea Estate's Impending Sale

The recent acquisition of Lipton Teas and Infusions (formerly Ekaterra) estates by Sri Lankan firm Browns Investments Plc has reignited long-standing disputes and unresolved issues with the local community in the Sout…

May 25, 2024
Dangerous Aflatoxin Levels Found in Popular Kenyan Flour Brand
Business

Dangerous Aflatoxin Levels Found in Popular Kenyan Flour Brand

The discovery of excessive levels of aflatoxin in a popular brand of maize flour has prompted the Ministry of Health to take immediate action. The Ministry has cautioned the public against consuming the contaminated f…

May 15, 2024
Slow Internet Connections Likely to Persist, Communications Authority of Kenya Warns
Business

Slow Internet Connections Likely to Persist, Communications Authority of Kenya Warns

A recent cut in undersea fibre optic cables near Mtunzini, South Africa, has caused internet slowdowns across East Africa. The Communications Authority of Kenya (CA) has issued a statement acknowledging the disruption…

May 13, 2024
Products Exempted From Tax In Proposed Finance Bill 2024
Business

Products Exempted From Tax In Proposed Finance Bill 2024

The Kenyan government's Finance Bill for 2024 outlines significant alterations to the country's tax structure. These proposals, if approved by parliament, will establish the tax policy framework for President William…

May 12, 2024
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