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Business

Paradise Beach Resort in Kikambala on Sale for Sh800 Million
Business

Paradise Beach Resort in Kikambala on Sale for Sh800 Million

The Paradise Beach Resort in Kikambala, Kilifi County has been put up for sale. Owners of the popular hotel are looking to sell the establishment for a staggering price of Sh800 million, according to Nation. Paradise…

Jun 9, 2021
KLM to Launch Direct Flights to Mombasa
Business

KLM to Launch Direct Flights to Mombasa

KLM is set to launch direct flights to Mombasa in October targeting leisure travelers. The move is part of its plan to strengthen its presence in East Africa. The October 31st launch will come a month after the termin…

May 28, 2021
Billionaire Narendra Raval Bids Sh5 Billion to Revive Mumias Sugar
Business

Billionaire Narendra Raval Bids Sh5 Billion to Revive Mumias Sugar

Billionaire Narendra Raval has revealed plans to invest Sh5 billion in reviving Mumias Sugar Company. The tycoon plans to spend Sh4 billion on upgrading the rundown milling plant while Sh1 billion will be used to woo…

May 24, 2021
Japanese in Kenya Exempted from Paying Income Tax
Business

Japanese in Kenya Exempted from Paying Income Tax

The National Assembly on Wednesday passed a motion seeking to exempt Japanese companies, employees, and consultants from paying income tax. This came after the Parliamentary Committee on Delegated Legislation tabled a…

May 20, 2021
President Uhuru Woos American SMEs to Invest in Kenya
Business

President Uhuru Woos American SMEs to Invest in Kenya

President Kenyatta has invited American Small and Medium Enterprises (SMEs) to invest in Kenya through partnerships with their Kenyan counterparts. Speaking during a virtual US Chamber of Commerce Global Leaders’ Foru…

May 19, 2021
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Uganda Signs Sh5 Billion Deal with Chinese Company to Link Railway to Kenya's SGR
Business

Uganda Signs Sh5 Billion Deal with Chinese Company to Link Railway to Kenya's SGR

Uganda has inked a Sh5 billion deal with China Roads and Bridge Corporation (CRBC) to rehabilitate its old meter gauge railway.  Once revamped, the 260-kilometer century-old line will be linked to Kenya’s Standard Gau…

May 17, 2021
Kenya Airways Signs Interline Pact with South Africa's Airlink
Business

Kenya Airways Signs Interline Pact with South Africa's Airlink

Kenya Airways (KQ) has signed an interline agreement with South Africa’s regional airline Airlink. The deal is expected to boost the national carrier’s reach in the South African region via the cities of Johannesburg…

May 8, 2021
Nairobi Hospital Fires over 200 Workers After Graft Audit
Business

Nairobi Hospital Fires over 200 Workers After Graft Audit

The Nairobi Hospital has laid off over 200 workers as the facility moved to cut expenditure and clear out staff members implicated in a recent graft audit. In a statement, the privately-owned hospital said the fired w…

May 4, 2021
Former Nakumatt CEO Atul Shah Loses Another Prime Property to Auctioneers
Business

Former Nakumatt CEO Atul Shah Loses Another Prime Property to Auctioneers

The court of appeal has declined to reverse the auction of a property belonging to Atul Shah, the CEO of collapsed retail chain Nakumatt. The property located in Nairobi’s Industrial Area was sold by KCB Bank last Nov…

May 3, 2021
Kenya Airways Partners with UK Company to Launch Drone Operations in Kenya
Business

Kenya Airways Partners with UK Company to Launch Drone Operations in Kenya

Kenya Airways (KQ) is set to launch drone operations in the country as part of its plan to diversify income sources. The national carrier signed a memorandum of understanding (MoU) with UK-based logistics company Skyp…

May 2, 2021
Kenya's Population of Billionaires Drops to 330, 4th Highest in Africa
Business

Kenya's Population of Billionaires Drops to 330, 4th Highest in Africa

Kenya has a total of 330 individuals with a net worth of at least $10 million (Sh1.08 billion), according to the 2020 Africa Wealth report by AfrAsia Bank. The figure represents a 7.31 percent drop compared to 2019 wh…

Apr 27, 2021
Muguku Family Denies Reports of Planned Sale of Waterfront Karen Shopping Mall for Sh20 Billion
Business

Muguku Family Denies Reports of Planned Sale of Waterfront Karen Shopping Mall for Sh20 Billion

David Muguku, the managing director of The Waterfront Mall in Karen area has refuted reports that the property is up for sale. “The Waterfront Karen Shopping Mall and its surrounding property remain to be a long-term…

Apr 27, 2021
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Safaricom Submits Bid for Ethiopia Telecom License
Business

Safaricom Submits Bid for Ethiopia Telecom License

Safaricom has formally submitted a bid for a telecommunication license to operate in Ethiopia. The giant telco announced the move in a notice to its shareholders on Monday, saying it is making the proposal through a c…

Apr 26, 2021
Bobi Wine Ordered to Pay $93,000 Tax for Bulletproof Car Acquired from Kenyan Businessman
Business

Bobi Wine Ordered to Pay $93,000 Tax for Bulletproof Car Acquired from Kenyan Businessman

Former Ugandan presidential aspirant Bobi Wine has been ordered to pay USh337 million ($93,000) tax for the bulletproof car he acquired from a Kenyan businessman. Wine whose real name Robert Kyagulanyi purchased the l…

Apr 23, 2021
Kenya Airways Signs Partnership Deal with Congo Airways
Business

Kenya Airways Signs Partnership Deal with Congo Airways

Kenya Airways (KQ) and Congo Airways have signed a two-year partnership agreement in areas of mutual interest. The signing of the agreement was witnessed by President Kenyatta and his Congolese counterpart Felix Tshis…

Apr 22, 2021
US Decries Locking Out of American Companies from Government Tenders in Kenya
Business

US Decries Locking Out of American Companies from Government Tenders in Kenya

The US has accused corrupt Kenyan public officials of locking out American companies from government contracts. The US Trade Representative’s office lamented that tender bids in Kenya are often manipulated to benefit…

Apr 19, 2021
Boost for Kenya’s Tourism as Plane Carrying 189 Foreign Tourists Lands in Mombasa
Business

Boost for Kenya’s Tourism as Plane Carrying 189 Foreign Tourists Lands in Mombasa

Kenya’s tourism sector received a boost after a plane carrying nearly 200 foreign tourists landed at Mombasa International Airport (MIA) on Saturday. The Ukrainian charter flight with 189 visitors onboard touched the…

Apr 18, 2021
Kenya Set to Auction Lamu Oil Blocks within One Year
Business

Kenya Set to Auction Lamu Oil Blocks within One Year

Kenya has revealed plans to auction new oil and gas exploration blocks in its Indian Ocean territory within a year. The offshore blocks in the Lamu Basin will be put on offer after the collection of seismic data, whic…

Apr 15, 2021
Kenya Airways Suspends Flights to the UK Until Further Notice
Business

Kenya Airways Suspends Flights to the UK Until Further Notice

Kenya Airways (KQ) will suspend passenger flights to the United Kingdom effective April 9th until further notice. In a statement on Monday, the national carrier said the move follows the government’s decision to ban a…

Apr 5, 2021
KRA Surpasses Revenue Collection Target for Fourth Consecutive Month
Business

KRA Surpasses Revenue Collection Target for Fourth Consecutive Month

The Kenya Revenue Authority (KRA) has exceeded its monthly collection target for the fourth consecutive month even as the country continues to grapple with the adverse effects of the COVID-19 pandemic on the economy. …

Apr 3, 2021
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