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Business

Proposed Tax Reforms in Kenya's 2024 Finance Bill Draw Criticism
Business

Proposed Tax Reforms in Kenya's 2024 Finance Bill Draw Criticism

The Kenyan government's Finance Bill 2024 has sparked debate due to proposed increases in excise duties on various services. A central concern lies in the potential rise in costs for phone calls, internet data, and mo…

May 11, 2024
US Ambassador to Kenya Meg Whitman Envisions Kenya as Africa's Singapore
Business

US Ambassador to Kenya Meg Whitman Envisions Kenya as Africa's Singapore

United States Ambassador to Kenya Meg Whitman believes that a revitalized manufacturing sector has the potential to propel Kenya to the position of Africa's economic powerhouse. Currently, manufacturing contributes on…

May 6, 2024
Kenya Airways Suspends Flights To Kinshasa
Business

Kenya Airways Suspends Flights To Kinshasa

Kenya Airways (KQ) has announced the suspension of its flights to Kinshasa, the capital city of the DRC. This decision, slated to take effect from April 30, 2024, is a direct consequence of the ongoing detention of se…

Apr 29, 2024
Kenya Lags Behind East African Peers in Employment Ranking
Business

Kenya Lags Behind East African Peers in Employment Ranking

The recent Global Youth Development Index (GYDI) for 2023 sheds light on Kenya's position in youth employment opportunities. While commendable efforts have been made by the Ruto administration to address unemployment…

Apr 28, 2024
Kenyan Banks Tighten Credit as Shilling Weakens
Business

Kenyan Banks Tighten Credit as Shilling Weakens

The Kenyan economy is currently navigating a period of heightened volatility in the foreign exchange market with the Shilling's performance directly impacting lending rates. This interplay between currency value and b…

Apr 22, 2024
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How Kenya-Uganda Diplomatic Rift Disrupted Mombasa Port Cargo Flow
Business

How Kenya-Uganda Diplomatic Rift Disrupted Mombasa Port Cargo Flow

A months-long dispute between Kenya and Uganda in 2023 significantly impacted cargo movement through Mombasa Port. This rift decreased over 200,000 metric tonnes of cargo transiting through the port compared to the pr…

Apr 20, 2024
Comment on Hotel Rankings Counterproductive, Hoteliers Tell CS Mutua
Business

Comment on Hotel Rankings Counterproductive, Hoteliers Tell CS Mutua

Kenya's tourism sector is facing friction between the government and hoteliers. Cabinet Secretary Alfred Mutua's recent criticism of hotel rankings has caused unease within the industry. Hoteliers fear these pronounce…

Apr 19, 2024
Investing in Kenya? A Guide to Corporate Tax Rates and Regulations
Business

Investing in Kenya? A Guide to Corporate Tax Rates and Regulations

The concept of taxation has a long history dating back to ancient civilizations. In Kenya, a more formal tax structure emerged during the colonial era with the Income Tax Act of 1973 establishing the current framework…

Apr 19, 2024
Electricity Cost Drops by 14pc in Kenya Amid Boost in Generation
Business

Electricity Cost Drops by 14pc in Kenya Amid Boost in Generation

Heavy rains have caused water levels at Masinga Dam, Kenya's largest hydropower reservoir, to surge past capacity. This presents both an opportunity and a challenge for the country. On the positive side, the increased…

Apr 19, 2024
The Rise of KDF's Supermarket Chain Generating Sh1 Billion in Turnover
Business

The Rise of KDF's Supermarket Chain Generating Sh1 Billion in Turnover

The Kenya Defence Forces (KDF) established the Defence Forces Canteen Organization (DEFCO) in 1973, initially known as the Armed Forces Canteen Organization (AFCO). Over the past five decades, DEFCO has grown into a c…

Apr 16, 2024
Six Kenyan Companies Among Africa's Billion-Dollar Enterprises
Business

Six Kenyan Companies Among Africa's Billion-Dollar Enterprises

A recent report by the McKinsey Global Institute sheds light on the landscape of large companies in Africa. Kenya emerges as a front-runner in East Africa, boasting six companies generating over Sh130.5 billion (USD1…

Apr 15, 2024
Kenyan Startup Draws Billions from Former Google, Netflix CEOs
Business

Kenyan Startup Draws Billions from Former Google, Netflix CEOs

Kenyan cleantech startup SunCulture has secured significant funding with a portion coming from two former CEOs of global tech giants. This investment reflects the growing importance of innovation in tackling food secu…

Apr 11, 2024
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UK Suspends Tariffs on Kenyan Cut Flowers
Business

UK Suspends Tariffs on Kenyan Cut Flowers

The Kenyan horticulture industry has secured a positive development with the UK's temporary removal of the Global Tariff (UKGT) on cut flowers. This two-year suspension, announced by the British High Commission, aims…

Apr 11, 2024
The Kenyan Shilling Gains Strength Against the US Dollar
Business

The Kenyan Shilling Gains Strength Against the US Dollar

The Kenyan shilling displayed remarkable resilience against the US dollar on Tuesday, trading at a favourable rate of 127 shillings to the dollar. This positive development marks a significant improvement from its wea…

Apr 9, 2024
Bank of Kigali Concludes Kenyan Operations, Shifts Focus to Digital Strategy
Business

Bank of Kigali Concludes Kenyan Operations, Shifts Focus to Digital Strategy

The Bank of Kigali (BoK), Rwanda's leading commercial bank, has effectively concluded its operations in Kenya as of April 2, 2024. This decision follows a strategic shift by the bank's parent company Bank of Kigali Gr…

Apr 5, 2024
Sh75 Billion Tax Hurdle Delays M-Pesa's Separation from Safaricom
Business

Sh75 Billion Tax Hurdle Delays M-Pesa's Separation from Safaricom

Kenya's plan to divide the giant telecommunications provider Safaricom and its mobile money arm M-Pesa has encountered a hurdle due to a substantial tax implication. The Central Bank of Kenya (CBK) has revealed that t…

Apr 5, 2024
Kenyan Buyers to Benefit from Japanese Used Car Auction in Naivasha
Business

Kenyan Buyers to Benefit from Japanese Used Car Auction in Naivasha

The Special Economic Zones Authority (Seza), led by CEO Dr Kenneth Chelule, is gearing up for the highly anticipated launch of an auction for Japanese used cars in Naivasha, Nakuru County. This initiative, scheduled t…

Apr 2, 2024
Shilling Bounces Back, Recoups Half the Value Lost
Business

Shilling Bounces Back, Recoups Half the Value Lost

The Kenyan shilling's recent appreciation offers a sigh of relief for consumers and businesses alike. As a net importer, Kenya has long grappled with the challenges of a weak currency, which translates into higher imp…

Mar 31, 2024
JKIA Introduces New Luggage Delivery Service and Announces Expansion Plans
Business

JKIA Introduces New Luggage Delivery Service and Announces Expansion Plans

Jomo Kenyatta International Airport (JKIA) has launched a new service known as Airport Mtaani in a move designed to enhance traveller convenience. This initiative streamlines the luggage claim process by allowing pass…

Mar 31, 2024
Kenya Government to Establish Commercial Centers in the US and Other Major Markets
Business

Kenya Government to Establish Commercial Centers in the US and Other Major Markets

The Kenyan government has unveiled an ambitious plan to establish a network of commercial centres around the world, aiming to propel the nation's economic growth and expand its export footprint. This initiative, outli…

Mar 26, 2024
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