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Business

Retail Giant Carrefour Slapped with Sh1.1 Billion Fine for Exploitative Buyer Practices
Business

Retail Giant Carrefour Slapped with Sh1.1 Billion Fine for Exploitative Buyer Practices

The Competition Authority of Kenya (CAK) has taken action against Carrefour, a French retail chain, for exploiting its influence as a buyer. After completion of an inquiry, Carrefour has received a fine of Sh1,108,327…

Dec 19, 2023
Kenyans Feel the Pinch as Banks Raise Interest Rates
Business

Kenyans Feel the Pinch as Banks Raise Interest Rates

Kenyan banks have begun increasing the rates on their shilling-denominated loans following the Central Bank of Kenya's decision to raise its benchmark lending rate to an 11-year high. In a recent development, NCBA Ban…

Dec 19, 2023
Nairobi Residents Divided Over Food Vendor's Dollar-Only Policy
Business

Nairobi Residents Divided Over Food Vendor's Dollar-Only Policy

The unveiling of a menu featuring meal prices in dollars at a popular restaurant in Gigiri, Nairobi County, sparked a fierce debate on Wednesday. The restaurant owner has introduced a new policy In light of the unpred…

Nov 29, 2023
Beyond Real Estate, Where Kenyan Investors Are Allocating Their Funds
Business

Beyond Real Estate, Where Kenyan Investors Are Allocating Their Funds

Investment options in Kenya have traditionally centred around land and rental properties. However, as the investment market continues to evolve, Kenyans are actively seeking alternative methods to broaden their invest…

Nov 24, 2023
Ruto Slashes Subsidies to Zero on IMF Conditions
Business

Ruto Slashes Subsidies to Zero on IMF Conditions

President William Ruto adhered to the conditions set by the International Monetary Fund (IMF) and eliminated all subsidy spending in the first quarter of September. The government had Initially earmarked to allocate S…

Nov 20, 2023
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Setback for KRA as Airtel Prevails in Sh791 Million Tax Battle
Business

Setback for KRA as Airtel Prevails in Sh791 Million Tax Battle

Airtel Networks Kenya Limited has emerged victorious in a legal dispute against the Kenya Revenue Authority (KRA), resulting in a loss of Sh791 million for the tax agency. Judge Alfred Mabeya of the Commercial Court h…

Nov 14, 2023
Sh17bn Diesel Mystery: Chief Justice Koome, DCI Chief Amin in Legal Crossfire Over Missing Businesswoman
Business

Sh17bn Diesel Mystery: Chief Justice Koome, DCI Chief Amin in Legal Crossfire Over Missing Businesswoman

Lawyer David Chumo has taken legal action against the Directorate of Criminal Investigations (DCI) regarding the location of Anne Njeri Njoroge, a businesswoman associated with the importation of diesel worth Sh17 bil…

Nov 13, 2023
IMF Sounds Alarm on Kenya's Economy Amidst Concerns Over China's Downturn
Business

IMF Sounds Alarm on Kenya's Economy Amidst Concerns Over China's Downturn

The IMF has issued a warning to Kenya and other Sub-Saharan countries regarding the potential impact of China's economic growth decline on their economies. Thursday's press release announced reduced levels of borrowin…

Nov 10, 2023
Korean Businesses Set Sights on Kenya for Investments
Business

Korean Businesses Set Sights on Kenya for Investments

Several Korean companies have shown interest in investing in Kenya by capitalizing on the ongoing advancements in technology. The Korea Trade Development Agency (KOTRA) reports that three Korean companies have signed…

Nov 10, 2023
KRA Launches New Tax Evasion Crackdown on Airbnb Hosts
Business

KRA Launches New Tax Evasion Crackdown on Airbnb Hosts

The Kenya Revenue Authority (KRA) has contacted Airbnb, the online platform for short and long-term homestays, in a bid to crack down on tax evasion among Kenyan hosts. Airbnb Ireland UC, acting as the data controller…

Nov 8, 2023
Quickmart Hit in Sh94 Million Robbery, Wells Fargo Crew Missing
Business

Quickmart Hit in Sh94 Million Robbery, Wells Fargo Crew Missing

Quickmart has suffered a loss of Sh94 million in what appears to be a robbery that took place on Monday while the money was being ferried to the Nairobi city centre for banking. As of now, there are concerns over the…

Nov 7, 2023
Kenyans Cut Spending on Travel, Dining as Costs Rise
Business

Kenyans Cut Spending on Travel, Dining as Costs Rise

Households have been cutting down on non-essential expenses due to rising costs. This is in line with a recent survey analyzing the behaviour of Kenyan consumers from April to June. The study by TransUnion revealed th…

Nov 4, 2023
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Experts Want Kenya Kwanza to Curb Insatiable Tax Appetite
Business

Experts Want Kenya Kwanza to Curb Insatiable Tax Appetite

The fiscal policy proposals of the Kenya Kwanza administration have faced criticism for their heavy reliance on taxation as a means of generating revenue. At Bomas of Kenya, the National Dialogue Committee convened an…

Nov 2, 2023
KRA Now Clarifies Tax 'Harassment' of Travelers
Business

KRA Now Clarifies Tax 'Harassment' of Travelers

The Kenya Revenue Authority (KRA) has provided further clarification regarding the taxation of goods brought into the country by passengers returning home. KRA has issued a revision to its previously declared statemen…

Nov 2, 2023
Kenya Shilling Has for Long Been Overvalued, CBK Governor Kamau Thugge Says
Business

Kenya Shilling Has for Long Been Overvalued, CBK Governor Kamau Thugge Says

According to the Central Bank of Kenya (CBK), the demand for foreign exchange in Kenya has consistently exceeded the supply, resulting in the depreciation of the Kenya Shilling. This depreciation has led to the curren…

Oct 25, 2023
Shilling Set to Break 160 to the Dollar in Fresh Consumer Pain
Business

Shilling Set to Break 160 to the Dollar in Fresh Consumer Pain

Consumers are expected to face further financial distress as the Kenyan Shilling is projected to exceed Sh 160 against the dollar. Last week, Increased demand for the dollar resulted in a significant drop in the value…

Oct 23, 2023
KICC Emerges as Best Business Events Venue in Africa
Business

KICC Emerges as Best Business Events Venue in Africa

Nairobi's Kenyatta International Convention Centre (KICC) has emerged as the top choice for business events in Africa, clinching the prestigious World Travel Awards (WTA) five years in a row. KICC has triumphed over f…

Oct 17, 2023
IMF Lauds Kenya's Move to Join Pan-African Payment System
Business

IMF Lauds Kenya's Move to Join Pan-African Payment System

The International Monetary Fund (IMF) has commended Kenya for its decision to join the Pan-African Payments and Settlement System (Papps), viewing it as a positive step towards addressing foreign exchange challenges i…

Oct 16, 2023
Should Kenya Legalize and Start Bhang Exportation?
Business

Should Kenya Legalize and Start Bhang Exportation?

The Directorate of Criminal Investigations recently announced that they had seized over Sh 13 million from a residence in Ngara where bhang (marijuana) was being sold. Along with this, authorities had allegedly detain…

Oct 12, 2023
Workers Cry Foul as Del Monte Cuts Working Days to Cut Costs
Business

Workers Cry Foul as Del Monte Cuts Working Days to Cut Costs

Workers at the Del Monte fruit processor in Murang'a County are expressing their dissatisfaction as the company begins to implement reduced working days for its casual labourers in order to reduce costs. A memo circul…

Oct 11, 2023
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