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Business

Kenya Airways to Pay British Company Sh25 Million to Probe Collision of Two Jets at JKIA
Business

Kenya Airways to Pay British Company Sh25 Million to Probe Collision of Two Jets at JKIA

National carrier Kenya Airways (KQ) has contracted a British aviation company to investigate an incident where two planes collided at Jomo Kenyatta International Airport (JKIA) earlier this year. KQ will reportedly pa…

Aug 21, 2019
Kenya Gov’t Targets YouTube, Netflix with Taxes
Business

Kenya Gov’t Targets YouTube, Netflix with Taxes

The government is working on a policy that will be used to tax online streaming services such as YouTube and Netflix. Communications Authority (CA) director-general Francis Wangusi said the ICT ministry is in the fina…

Aug 17, 2019
Chinese Company Buys Kenya’s First Batch of Crude Oil for Sh1.2 Billion
Business

Chinese Company Buys Kenya’s First Batch of Crude Oil for Sh1.2 Billion

Two weeks after President Kenyatta announced that Kenya had joined the league of oil-exporting countries after selling its first 200,000 barrels of crude oil, details of the sale deal have emerged. At the time, Kenyat…

Aug 16, 2019
Kenyan Tycoon Humphrey Kariuki Steps Down from His Group of Companies over Sh41B Tax Evasion Case
Business

Kenyan Tycoon Humphrey Kariuki Steps Down from His Group of Companies over Sh41B Tax Evasion Case

Embattled Kenyan tycoon Humphrey Kariuki on Tuesday stepped down as the Chairman of his group of companies over allegations of evading taxes amounting to billions of shillings. Kariuki, who has been serving as Chairma…

Aug 14, 2019
Revealed: Cost of Nairobi-Mombasa Expressway by US Company Allegedly Inflated by 66.7%
Business

Revealed: Cost of Nairobi-Mombasa Expressway by US Company Allegedly Inflated by 66.7%

Reports have emerged that building of the planned multi-billion-shilling Nairobi-Mombasa expressway by American engineering company, Bechtel was delayed after it was established that the cost of the project was highly…

Aug 12, 2019
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US Marijuana Company Bangi Inc. Seeks Listing on Nairobi Securities Exchange
Business

US Marijuana Company Bangi Inc. Seeks Listing on Nairobi Securities Exchange

A United States marijuana company is seeking to be listed on the Nairobi Securities Exchange (NSE). Bangi Inc., which deals with the cultivation and processing of Cannabis Sativa, announced that its board had approved…

Aug 9, 2019
Kenya’s East Africa Portland Cement Lays Off All 2,000 Workers
Business

Kenya’s East Africa Portland Cement Lays Off All 2,000 Workers

All the 2,000 people working at Kenya’s East African Portland Cement (EAPCC) have been laid off. EAPCC Chief Executive Officer Stephen Nthei said all job positions in the company were declared redundant and all employ…

Aug 9, 2019
Username Investments CEO Set to Receive the Prestigious 2019 African Business Personality Award
Business

Username Investments CEO Set to Receive the Prestigious 2019 African Business Personality Award

Reuben Kimani, CEO, Username Investment Limited is the 2019 recipient of the African Business Personality Award at the Voice Achievers Award. The prestigious award seeks to recognize outstanding men and women who have…

Aug 7, 2019
Microsoft Poaches Kenya’s Jack Ngare from Equity Bank to Head Nairobi Facility
Business

Microsoft Poaches Kenya’s Jack Ngare from Equity Bank to Head Nairobi Facility

Microsoft has appointed Jack Ngare as the first Managing Director of its newly launched Africa Development Centre (ADC) in Nairobi. Ngare leaves Equity Bank, where he has been serving as the MD of the lender’s virtual…

Aug 7, 2019
Kenyan Tycoon Chris Kirubi Pockets Additional Sh200 Million from BIC Sale Deal
Business

Kenyan Tycoon Chris Kirubi Pockets Additional Sh200 Million from BIC Sale Deal

Kenyan billionaire businessman Chris Kirubi has pocketed an extra $2 million (about Ksh.200 million) following the sale of one of his company, the BiC brands East Africa franchise. last year. The tycoon sold the compa…

Aug 6, 2019
Job Losses Loom as Gov’t Orders All Cargo Ferried via SGR
Business

Job Losses Loom as Gov’t Orders All Cargo Ferried via SGR

The government has issued a new directive requiring all imported cargo at Mombasa port be ferried to Nairobi through the Standard Gauge Railway (SGR). In a notice, Kenya Revenue Authority (KRA) and Kenya Ports Authori…

Aug 5, 2019
Equity Bank Managing Director Polycarp Igathe Lands New Appointment at Vivo Energy
Business

Equity Bank Managing Director Polycarp Igathe Lands New Appointment at Vivo Energy

Equity Bank Managing Director Polycarp Igathe is set to leave the lender at the end of this month, slightly over a year after his appointment. Igathe, who joined Equity Bank in May 2018, has been named as the new Vice…

Aug 2, 2019
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Kenya Joins League of Oil-Exporting Countries, Earns Sh1.2 Billion from Inaugural Oil Sale
Business

Kenya Joins League of Oil-Exporting Countries, Earns Sh1.2 Billion from Inaugural Oil Sale

Kenya on Thursday sold 200,000 barrels of crude oil, becoming the latest nation to join the league of oil-exporting countries. President Kenyatta broke the news about the sale of Kenya’s first crude oil during a Cabin…

Aug 1, 2019
Nairobi’s DusitD2 Hotel Reopens After January Terror Attack
Business

Nairobi’s DusitD2 Hotel Reopens After January Terror Attack

Nairobi’s DusitD2 Hotel was on Wednesday reopened six months after it was closed following a terror attack that left 21 people dead and several others injured. The high-end hotel located on Riverside Drive in Westland…

Jul 31, 2019
Safaricom Succession: Gov’t Promises to Keep Off Process of Picking Bob Collymore’s Successor
Business

Safaricom Succession: Gov’t Promises to Keep Off Process of Picking Bob Collymore’s Successor

The government will not meddle in Safaricom’s process of picking its new chief executive following the death of Bob Collymore early this month, ICT Cabinet Secretary Joe Mucheru has said. Mucheru said the government w…

Jul 27, 2019
Kenya Airways Set to Become a State Company
Business

Kenya Airways Set to Become a State Company

Kenya Airways is set to become a State corporation after MPs on Tuesday unanimously approved a proposal by National Assembly Transport committee to nationalize the airline. The adoption of the proposal paves the way f…

Jul 23, 2019
Sh100 Billion: Investigative Report Reveals SportPesa’s 2018 Profit
Business

Sh100 Billion: Investigative Report Reveals SportPesa’s 2018 Profit

A new report by a global financial investigative magazine shows that Kenya’s giant betting company, SportPesa made a whopping $1 billion (Sh100 billion) in 2018. The report by Finance Uncovered said that SportPesa mad…

Jul 21, 2019
Naivas Supermarket Suspends Sale of Red Meat in its Outlets Countrywide
Business

Naivas Supermarket Suspends Sale of Red Meat in its Outlets Countrywide

Kenyan supermarket chain, Naivas has suspended the sale of red meat in its outlets across the country pending the results of an independent test on its meat stock. In a statement, the supermarket said the entire stock…

Jul 19, 2019
Kenya Railways Embroiled in Battle for Control of SGR Billions with Chinese Operator
Business

Kenya Railways Embroiled in Battle for Control of SGR Billions with Chinese Operator

Kenya Railways Corporation (KRC) is embroiled in a battle for control of Standard Gauge Railway (SGR) billions with a Chinese operator. KRC is reportedly seeking to take over revenue collection duties from a Chinese c…

Jul 14, 2019
SportPesa Protests Government’s Gagging
Business

SportPesa Protests Government’s Gagging

Giant Kenyan betting company SportPesa has protested the latest move by the government that has paralyzed its operations. In a statement, SportPesa said the government's directive for withdrawal of its pay bill number…

Jul 13, 2019
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