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Business

Amazon’s Smart Home Security Company Ring Enters the Kenyan Market
Business

Amazon’s Smart Home Security Company Ring Enters the Kenyan Market

American company Ring has inked a partnership with Nairobi-based tech company Mart Networks to introduce smart home security devices to the Kenyan market. The deal signed on Thursday will see Mart Networks deliver hom…

Feb 17, 2023
US Issues Kenya a Default Notice for Sh57 Billion Kenya Airways Debt
Business

US Issues Kenya a Default Notice for Sh57 Billion Kenya Airways Debt

The Exim Bank of the USA has slapped the Treasury with a default notice for delayed payment of a Sh57.8 billion loan that the government guaranteed Kenya Airways (KQ). Treasury Principal Secretary Chris Kiptoo told Pa…

Feb 15, 2023
Kenyan and US Officials to Hold Discussions on Strategic Trade and Investment Partnership
Business

Kenyan and US Officials to Hold Discussions on Strategic Trade and Investment Partnership

Trade representatives from Kenya and the US are set to hold an in-person first round of conceptual discussions under the Strategic Trade and Investment Partnership (STIP) in Washington, DC, from February 6th to 10th…

Feb 6, 2023
Kenya Airways Issues a Full Year Profit Warning
Business

Kenya Airways Issues a Full Year Profit Warning

Kenya Airways (KQ) has announced that its net earnings for the year ending December 31st, 2022, will decline by at least 25 percent. In a profit warning notice to stakeholders, the KQ board said the drop was occasione…

Jan 28, 2023
Gov’t Protests Dutch Airline KLM’s Claims of Civil Unrest in Kenya
Business

Gov’t Protests Dutch Airline KLM’s Claims of Civil Unrest in Kenya

Kenya is set to lodge a formal complaint with the Netherlands after the country’s flag carrier airline KLM canceled flights to Kenya and Tanzania citing fears of ‘civil unrest’. Transport Cabinet Secretary Kipchumba M…

Jan 28, 2023
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US Gov’t Funds Construction of a Sh3.7 Billion Data Center in Nairobi
Business

US Gov’t Funds Construction of a Sh3.7 Billion Data Center in Nairobi

The United States government has committed $30 million (Sh3.7 billion) for the expansion of a data center in Nairobi. Africa Data Centres (ADC) broke ground on the project at its data centre facility in Sameer Busines…

Jan 23, 2023
Detectives Arrest Six Suspects Manufacturing Fake KRA Stamps in Nairobi
Business

Detectives Arrest Six Suspects Manufacturing Fake KRA Stamps in Nairobi

Detectives in Nairobi have arrested six suspects in connection with the production of fake Kenya Revenue Authority (KRA) stamps. The suspects, Peter Mburu, James Kigera, Frankline M’Mburia, Mary Wanjiku, Titus Ndegwa…

Jan 18, 2023
Elon Musk's Company Set to Launch Satellite Internet Service in Kenya
Business

Elon Musk's Company Set to Launch Satellite Internet Service in Kenya

American satellite internet provider Starlink has announced it will launch in Kenya in the second quarter of this year. Starlink, which is owned by US billionaire Elon Musk, said it is “pending service coverage or reg…

Jan 13, 2023
East African Community to Have a Single Currency By 2027
Business

East African Community to Have a Single Currency By 2027

The East African Community (EAC) is currently working on a plan to have a common currency by 2027. The announcement was made by the regional bloc’s Secretary-General Dr. Peter Mathuki during a five-day retreat for all…

Jan 13, 2023
Kenya Airways Blames Ukraine-Russia War for Ongoing Flight Disruptions
Business

Kenya Airways Blames Ukraine-Russia War for Ongoing Flight Disruptions

Kenya Airways (KQ) has issued a statement regarding the flight disruptions currently being experienced by the airline. KQ CEO Allan Kilavuka said the disruptions were a result of delays in getting back its aircraft wh…

Jan 9, 2023
Kenya Airways’ Shares Trading Freeze Extended for Additional 12 Months
Business

Kenya Airways’ Shares Trading Freeze Extended for Additional 12 Months

The Capital Markets Authority (CMA) has announced the extension of the share trading freeze on Kenya Airways (KQ) for a further 12 months. In a statement on Wednesday, the capital markets regulator said the extension…

Jan 4, 2023
The Iconic Hilton Hotel Nairobi Closes Its Doors After 53 Years
Business

The Iconic Hilton Hotel Nairobi Closes Its Doors After 53 Years

The iconic Hilton Hotel in Nairobi’s central business district has shut its doors permanently after 53 years of operation. In April last year, International Hotels Kenya Limited which manages the hotel announced the f…

Jan 1, 2023
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US Retains Its Place as Largest Source Country for International Visitors to Kenya
Business

US Retains Its Place as Largest Source Country for International Visitors to Kenya

The United States has retained its place as the largest source country for international visitors to Kenya, accounting for 14.4 percent of all arrivals recorded between January and November. Kenya received a total of…

Dec 29, 2022
Kenya Airways Resumes Daily Direct Flights to the US
Business

Kenya Airways Resumes Daily Direct Flights to the US

Kenya Airways (KQ) has resumed daily nonstop flights between Nairobi and New York City amid growing demand for travel on the route during the festive season. The national carrier has grappled with a fluctuating demand…

Dec 28, 2022
IMF Launches a Probe into Kenya’s US Dollar Shortage
Business

IMF Launches a Probe into Kenya’s US Dollar Shortage

The International Monetary Fund (IMF) says it is monitoring challenges in accessing the US dollar in Kenya in a bid to determine the reasons behind the crisis. IMF said the availability of dollars in the forex interba…

Dec 22, 2022
IMF Approves a Sh55 Billion Loan to Kenya
Business

IMF Approves a Sh55 Billion Loan to Kenya

The International Monetary Fund (IMF) has approved a $447.39 million (Sh55.1 billion) loan to Kenya for budgetary support. This is the fourth tranche of the $2.34 billion (Sh288 billion) 38-month-long loan facility wh…

Dec 20, 2022
Ruto Meets Delta Air Lines Officials in Bid to Sell a Majority Stake in Kenya Airways
Business

Ruto Meets Delta Air Lines Officials in Bid to Sell a Majority Stake in Kenya Airways

President Ruto has confirmed he met officials of Delta Air Lines during his visit to the US, where he launched a bid to sell a controlling stake in Kenya Airways (KQ). Ruto, who was in Washington, DC for the US-Africa…

Dec 19, 2022
President Ruto Seeks Strategic Investors to Buy Kenya Airways in US Trip
Business

President Ruto Seeks Strategic Investors to Buy Kenya Airways in US Trip

President Ruto will seek strategic foreign investors to buy a controlling stake in Kenya Airways (KQ) during his current trip to the United States, Transport Cabinet Secretary Kipchumba Murkomen has said. Murkomen sai…

Dec 15, 2022
President Ruto Officially Launches Hustlers Fund, Repayment Period Set at 14 Days
Business

President Ruto Officially Launches Hustlers Fund, Repayment Period Set at 14 Days

President Ruto on Wednesday launched the first phase of the Hustlers Fund, one of the key campaign pledges of the Kenya Kwanza administration. To access cheap loans under the Hustlers Fund, Kenyans will only need to d…

Nov 30, 2022
Ban on Nairobi Nightclubs to Render 23,000 Employees Jobless, Bars Association Says
Business

Ban on Nairobi Nightclubs to Render 23,000 Employees Jobless, Bars Association Says

Pubs, Entertainment, and Restaurant Association of Kenya (PERAK) has said the recent ban on nightclubs in Nairobi will lead to massive job losses. The association warned that at least 23,000 full-time and temporary wo…

Nov 29, 2022
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