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Business

Kenya Airways, Virgin Atlantic Partner in Codeshare Deal
Business

Kenya Airways, Virgin Atlantic Partner in Codeshare Deal

Kenya Airways (KQ) and Virgin Atlantic have signed a codeshare agreement in a strategic move to bolster their presence in domestic, African, and international markets. This collaborative effort grants Virgin Atlantic…

Mar 22, 2024
Kenyan Shilling Surges Against Dollar to Trade at Sh133
Business

Kenyan Shilling Surges Against Dollar to Trade at Sh133

The Kenyan Shilling has exhibited remarkable strength against the US dollar in recent weeks. This positive development has ignited optimism for a potential economic recovery in Kenya. As of March 19, the official exch…

Mar 19, 2024
Kenya's Booming Shilling Pinches Remittance Inflows
Business

Kenya's Booming Shilling Pinches Remittance Inflows

Kenyans abroad sent home $385.9 million (Sh52.2 billion) in February. While this represents a decrease of 6.4% compared to the record-breaking January inflow, it still reflects a 24.8% increase year-on-year. This high…

Mar 17, 2024
Kenya Airways Announces Nine Weekly Flights to New York
Business

Kenya Airways Announces Nine Weekly Flights to New York

Kenya Airways is strategically scaling up its operations to cater to the burgeoning travel industry. This expansion is twofold, with the airline adding new flights to its popular New York route and resuming service to…

Mar 16, 2024
Petrol Prices Fall Sh7 as Kenya Shilling Strengthens
Business

Petrol Prices Fall Sh7 as Kenya Shilling Strengthens

The Energy and Petroleum Regulatory Authority (Epra) has announced a decrease in fuel prices for the fifth consecutive month, bringing much-needed relief to Kenyan motorists. This reduction is attributed to a strength…

Mar 14, 2024
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Kenya to Review Rental Income Tax System in Upcoming Budget
Business

Kenya to Review Rental Income Tax System in Upcoming Budget

Through the National Treasury, the Kenyan government has announced its intention to review the taxation of rental income from residential properties in the recently released 2024 Budget Policy Statement. This decision…

Mar 3, 2024
Kenyans React to the Launch of the East African Sheafra Currency
Business

Kenyans React to the Launch of the East African Sheafra Currency

A significant step has been taken towards economic integration in East Africa, with the official unveiling of the East African Sheafra (SHF). The planned common currency will be relevant for the East African Community…

Mar 3, 2024
Kenya Placed on Grey List for Anti-Money Laundering
Business

Kenya Placed on Grey List for Anti-Money Laundering

The Financial Action Task Force (FATF) has placed Kenya on its "grey list" of countries deemed at increased risk of money laundering, terrorism financing, and proliferation of weapons of mass destruction. While this d…

Feb 23, 2024
Renewed Hope for Farmers as Ovacado Exports Resume
Business

Renewed Hope for Farmers as Ovacado Exports Resume

In just two weeks, Kenya will once again begin exporting avocados, putting an end to the three-month suspension implemented by the Agricultural Food Authority (AFA). In November 2023, the Horticultural Crops Directora…

Feb 16, 2024
Kenyan Shilling Surges Against Dollar, Signals Strong Investor Sentiment
Business

Kenyan Shilling Surges Against Dollar, Signals Strong Investor Sentiment

Yesterday, the Kenyan shilling experienced its most significant intra-day increase against the US dollar in 12 years. The local currency has experienced an unforeseen surge in value due to a sudden spike in investor c…

Feb 15, 2024
Naivas Row: Inheritance Dispute Sparks Legal War Among Siblings
Business

Naivas Row: Inheritance Dispute Sparks Legal War Among Siblings

Amidst the towering aisles of Naivas, Kenya's premier supermarket chain, a familial storm brews over the legacy of its late founder, Peter Mukuha Kago. The empire he founded now stands at the centre of a legal tussle…

Feb 5, 2024
Dollar Loan Defaults Surge in Kenya Amidst Persistent Currency Shortage
Business

Dollar Loan Defaults Surge in Kenya Amidst Persistent Currency Shortage

Firms and individuals who have taken out loans in US dollars are now struggling to repay them, leading to a dysfunction in the foreign exchange market. Borrowers in various industries such as real estate, transportati…

Jan 22, 2024
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Kenya Misses the Mark in Top 20 Africa's Fastest Growing Economies 2024 Report
Business

Kenya Misses the Mark in Top 20 Africa's Fastest Growing Economies 2024 Report

Kenya did not make it into the top 20 fastest-growing economies in Africa Outlook 2024 ranking by Economic Intelligence (EIU), despite a projected GDP growth of 5.3%. In contrast, Tanzania and Uganda, along with Rwand…

Jan 15, 2024
Equity Launches its Version of Fuliza
Business

Equity Launches its Version of Fuliza

Equity Bank Kenya Limited has introduced a new feature called Boostika Which allows customers to exceed their account balance by up to Sh100,000 in order to carry out transactions like shopping and purchasing airtime…

Jan 15, 2024
KRA Targets Kenyans Working at Diplomatic Institutions
Business

KRA Targets Kenyans Working at Diplomatic Institutions

Local employees of organizations with diplomatic agreements with Kenya, such as the United Nations, who have previously been exempt from paying taxes will now have Pay as you earn (PAYE) deducted from their monthly sa…

Jan 13, 2024
Starbucks Faces Legal Woes Over Kenyan Coffee
Business

Starbucks Faces Legal Woes Over Kenyan Coffee

Starbucks, a well-known coffee chain in the United States, is facing legal action from the National Consumers League. According to the lawsuit, Starbucks engaged in unethical practices when sourcing coffee from Kenya…

Jan 12, 2024
Economic Concerns Mount as Shilling Depreciates Post-Interest Rate Hike
Business

Economic Concerns Mount as Shilling Depreciates Post-Interest Rate Hike

Despite the Central Bank of Kenya (CBK) raising interest rates to combat the weakening local currency, the Kenyan shilling has depreciated at a faster pace than expected. Following the implementation of more stringent…

Jan 9, 2024
Kenya Airways Takes the Lead as Africa's Punctuality Champion, Surpassing Ethiopian Airlines
Business

Kenya Airways Takes the Lead as Africa's Punctuality Champion, Surpassing Ethiopian Airlines

In 2023, Kenya Airways (KQ) achieved the highest punctuality rate among East African flag carriers, surpassing Ethiopian Airlines, which had held the top spot for years. Cirium, an aviation analytics company, reports…

Jan 5, 2024
Commuters Face Increased Toll Rates on Nairobi Expressway
Business

Commuters Face Increased Toll Rates on Nairobi Expressway

The Nairobi Expressway toll rates have undergone revisions by the Government, increasing charges for motorists. Transport Cabinet Secretary Kipchumba Murkomen has officially approved an increase in the fare for travel…

Jan 2, 2024
Kenya Leads Sub-Saharan Africa in Economic Growth - World Bank
Business

Kenya Leads Sub-Saharan Africa in Economic Growth - World Bank

According to a recent World Bank report on Kenya's poverty and equity assessment for 2023, the country has experienced notable economic growth in the past decade, surpassing its Sub-Saharan African counterparts. Kenya…

Dec 29, 2023
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