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Business

Sh800 Billion Repatriated from Offshore Accounts by Wealthy Kenyans 'Goes Missing"
Business

Sh800 Billion Repatriated from Offshore Accounts by Wealthy Kenyans 'Goes Missing"

Kenya Revenue Authority (KRA) cannot reportedly trace Sh803 billion repatriated back to the country from offshore accounts by wealthy Kenyans since mid-2016. On Tuesday, a KRA top official said they are not sure wheth…

Oct 2, 2019
SportPesa Shuts Down Operations in Kenya as Betin Sends All Workers Home
Business

SportPesa Shuts Down Operations in Kenya as Betin Sends All Workers Home

Kenya's largest betting company, SportPesa has shut down operations in the country citing hostility from the government. SportPesa announced the move following its recent taxation and regulatory tussle with the Kenyan…

Sep 29, 2019
Uhuru Meets Top US Business Executives in New York, Markets Kenya as an Investment Hub
Business

Uhuru Meets Top US Business Executives in New York, Markets Kenya as an Investment Hub

President Kenyatta on Tuesday urged US investors to consider Kenya as their investment destination.  Kenyatta, who spoke at a forum hosted by the American Chamber of Commerce and attended by top executives from leadin…

Sep 25, 2019
Kenya Airways to Sell 7 Boeing Aircraft
Business

Kenya Airways to Sell 7 Boeing Aircraft

Kenya Airways (KQ) is set to sell seven of its aircraft in a sale deal expected to earn the loss-making airline billions of shillings. The sale of the planes is part of the airline’s efforts to cut its fleet in a bid…

Sep 25, 2019
'Dirty Cash': Alarm as Kenyans Rush to Buy Wheat in Old Sh1,000 Notes Ahead of Next Week Deadline
Business

'Dirty Cash': Alarm as Kenyans Rush to Buy Wheat in Old Sh1,000 Notes Ahead of Next Week Deadline

Central Bank of Kenya (CBK) suspects that Kenyans holding dirty cash could be buying wheat in a bid to clean it ahead of the September 30th deadline.  Speaking on Tuesday, CBK Governor Dr. Patrick Njoroge said the sud…

Sep 24, 2019
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KRA to Track Mpesa Transactions in Bid to Nab Tax Cheats
Business

KRA to Track Mpesa Transactions in Bid to Nab Tax Cheats

Kenya Revenue Authority (KRA) is set to begin monitoring individuals’ Mpesa transactions in a bid to nab tax cheats. KRA, which is seeking to net 1.9 trillion this year, suspects that some taxpayers who receive their…

Sep 23, 2019
Gov’t Shelves Plan to Ban Importation of Chinese Fish into Kenya
Business

Gov’t Shelves Plan to Ban Importation of Chinese Fish into Kenya

The government has shelved plans to ban the importation of Chinese fish into the Kenya. Fisheries Development Principal Secretary Prof. Micheni Ntiba said the move to ban fish imports from China would only create a sh…

Sep 21, 2019
JKIA Ranked World’s 2nd Fastest-Growing Cargo Airport
Business

JKIA Ranked World’s 2nd Fastest-Growing Cargo Airport

Kenya’s Jomo Kenyatta International Airport (JKIA) has been rated among the world’s fastest-growing cargo airports. JKIA has been ranked position two in the category of world airports that handle more than 250,000 met…

Sep 19, 2019
170 Kenyans Left Jobless as US-Based Software Company Andela Lays off Workers
Business

170 Kenyans Left Jobless as US-Based Software Company Andela Lays off Workers

New York-headquartered software developer training and outsourcing company Andela has announced massive job cuts in Africa. On Tuesday, the company said it will lay off 170 software developers in Kenya and at least 25…

Sep 17, 2019
MPs Reject Proposal to End Cheap Loans for Kenyans
Business

MPs Reject Proposal to End Cheap Loans for Kenyans

Members of the National Assembly Finance and National Planning Committee have rejected a proposal by National Treasury to repeal the interest rate capping law. Members of the committee argued that repealing the law wo…

Sep 10, 2019
New Premier Kenyan Business and Events Platform Launched
Business

New Premier Kenyan Business and Events Platform Launched

New premier Kenyan business platform called NaiGate launched to create market access for businesses and service providers —including freelancers— both in Kenya and in the diaspora. NaiGate was recently featured on KTN…

Sep 9, 2019
Kenya Airways Drops Bid to Takeover JKIA Operations
Business

Kenya Airways Drops Bid to Takeover JKIA Operations

Kenya Airways (KQ) says it has formally withdrawn its Privately Initiated Investment Proposal (PIIP) seeking to take over the operations of Jomo Kenyatta International Airport (JKIA). The proposal, which was submitted…

Sep 4, 2019
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SportPesa Set to Resume Operations After KRA Clearance
Business

SportPesa Set to Resume Operations After KRA Clearance

Giant betting company SportPesa has announced it will resume operations soon after it was cleared by Kenya Revenue Authority (KRA). In a statement on Tuesday, SportPesa said had positive engagement with the government…

Sep 3, 2019
Interim Safaricom CEO Michael Joseph Hints at Prolonged Stay at the Telco
Business

Interim Safaricom CEO Michael Joseph Hints at Prolonged Stay at the Telco

Acting Safaricom CEO Michael Joseph hinted at an extended stay at the helm of the giant telecommunications company. Speaking to the media on Friday, Joseph described Safaricom as “my company”, stating that he would re…

Sep 1, 2019
Kenya Airways Posts Sh8.6 Billion Loss in the First Half of 2019
Business

Kenya Airways Posts Sh8.6 Billion Loss in the First Half of 2019

Kenya Airways (KQ) recorded a pretax loss of Sh8.56 billion in the half-year ended June 30th, 2019. This is an increase by more than double from Sh3.9 billion loss the airline posted in the same period last year.  KQ’…

Aug 27, 2019
Uhuru Roots for Total Ban on Gambling in Kenya
Business

Uhuru Roots for Total Ban on Gambling in Kenya

President Kenyatta on Saturday threw his weight behind the proposal to totally ban gambling in Kenya. Speaking at the 60th-anniversary celebrations of CITAM Church in Karen, Nairobi, Kenyatta said he supports the idea…

Aug 25, 2019
Uhuru to Flag Off Inaugural Shipment of Kenyan Crude Oil at Mombasa Port
Business

Uhuru to Flag Off Inaugural Shipment of Kenyan Crude Oil at Mombasa Port

President Kenyatta is on Monday slated to flag off the shipment of Kenya’s maiden consignment of crude oil at the port of Mombasa. The 200,000 barrels of crude oil will be exported by Chinese company ChemChina UK Limi…

Aug 25, 2019
Google Warns Kenya over Digital Tax Push
Business

Google Warns Kenya over Digital Tax Push

US technology company, Google has warned that Kenya’s plan to impose tax on digital transactions could spark trade wars with other countries. Google told Members of Parliament that the State’s bid to introduce amendme…

Aug 24, 2019
Keroche Breweries CEO Tabitha Karanja, Husband Arrested
Business

Keroche Breweries CEO Tabitha Karanja, Husband Arrested

Keroche Breweries Limited CEO Tabitha Karanja was on Thursday evening arrested over allegations of tax evasion. Detectives from Directorate of Criminal Investigations (DCI) picked Mrs. Karanja and her husband Joseph f…

Aug 22, 2019
Kenyans Return Sh25 Billion to Banks in One Month as Deadline for Using Old Sh1,000 Notes Nears
Business

Kenyans Return Sh25 Billion to Banks in One Month as Deadline for Using Old Sh1,000 Notes Nears

Kenyans returned at least Sh25 billion to banks following Central Bank of Kenya’s move to phase out the old Sh1,000 notes by October 1st. Latest data from Central Bank of Kenya (CBK) showed that the total amount of ca…

Aug 22, 2019
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