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Business

Safaricom Fined Sh293 Million for Poor Services
Business

Safaricom Fined Sh293 Million for Poor Services

Kenya's giant mobile service provider Safaricom has been slapped with a fine of nearly 300 million shillings for poor quality services in 2017 In the latest sustainability report, Safaricom says it paid a fine of Sh29…

Oct 31, 2018
President Uhuru Downplays Fears over Huge China Debt
Business

President Uhuru Downplays Fears over Huge China Debt

President Kenyatta has downplayed concerns raised by critics over the huge debt Kenya owes China. In an interview aired on CNN, the President questions why Kenya's debt critics only talk about loans taken from China w…

Oct 30, 2018
Eurobond III: Kenya Seeks to Raise Sh287 Billion By the End of this Year
Business

Eurobond III: Kenya Seeks to Raise Sh287 Billion By the End of this Year

The government has announced plans of borrowing $2.8 billion (Sh287 billion) in Eurobonds offers and syndicated loan before the end of 2018 to finance the 2018/2019 budget, Bloomberg reports. National Treasury Princip…

Oct 29, 2018
Kenya Airways' Maiden Direct Flight to the US Receives Water Salute at JKF Airport in New York
Business

Kenya Airways' Maiden Direct Flight to the US Receives Water Salute at JKF Airport in New York

Kenya Airways' maiden direct flight to the United States has received a water salute upon touching the ground at the JKF International Airport in New York. The Boeing 787-8 Dreamliner (5Y-KZE) plane KQ002 landed at th…

Oct 29, 2018
Kitui Governor Charity Ngilu Launches First Garment Factory by a County Government
Business

Kitui Governor Charity Ngilu Launches First Garment Factory by a County Government

Kitui Governor Charity Ngilu has launched the first-ever garment making factory by a County government in Kenya since the inception of devolution. Ms Ngilu says the factory named Kitui County Textile Centre (KICOTEC)…

Oct 28, 2018
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Retired President Mwai Kibaki to Build Multi-Billion Shilling Mini-City Near Menengai Crater
Business

Retired President Mwai Kibaki to Build Multi-Billion Shilling Mini-City Near Menengai Crater

Retired President Mwai Kibaki is planning to build a multi-billion shilling mini-city comprising of a five-star hotel near Menengai Crater in Nakuru. The investment's promoters say the decision to set up the luxurious…

Oct 25, 2018
IMF Accuses Kenya of Over-valuing the Shilling by 17.5 Percent
Business

IMF Accuses Kenya of Over-valuing the Shilling by 17.5 Percent

The International Monetary Fund (IMF) claims that Kenya is artificially manipulating the shilling in order to make it appear strong. In a statement quoted on Bloomberg, the Washington-based global body that gives loan…

Oct 25, 2018
Kenya Airways Direct Nonstop Flights to the US in Limbo as Workers Issue Strike Notice
Business

Kenya Airways Direct Nonstop Flights to the US in Limbo as Workers Issue Strike Notice

Kenya Airways' maiden direct flight to the United States lies in limbo after aviation employees threatened to go on strike.  In a notice, the Kenya Aviation Workers’ Union (Kawu) cites Kenya Airway’s failure to agree…

Oct 23, 2018
Celebrated CNN Anchor Richard Quest Visits Kenya, to Ride Kenya Airways Maiden Direct Flight to the US
Business

Celebrated CNN Anchor Richard Quest Visits Kenya, to Ride Kenya Airways Maiden Direct Flight to the US

Cable News Network (CNN) anchor Richard Quest has began his tour to Kenya. Quest arrived in the country on Monday and visited Nairobi's Karura Forest for a morning run in the company of celebrated Kenyan athlete Eliud…

Oct 23, 2018
Kenya Airways Sells Out Tickets for its Maiden Direct Flight to the US, One Week Ahead of Official Launch
Business

Kenya Airways Sells Out Tickets for its Maiden Direct Flight to the US, One Week Ahead of Official Launch

Kenya Airways has sold out tickets for its maiden direct flight to the United States one week to the October 28th official launch. The national carrier's website indicates that tickets for the historic flight to JFK I…

Oct 21, 2018
President Uhuru Returns to China Next Month to Secure Market for Kenyan Products
Business

President Uhuru Returns to China Next Month to Secure Market for Kenyan Products

President Kenyatta is next month expected to travel to China to secure market for Kenyan products. The President will lead a delegation of Kenyan farmers in signing of a deal for exportation of avocados, mangoes, cash…

Oct 20, 2018
Kenya's Public Debt to Rise to Sh7 Trillion By the End of President Uhuru's Tenure
Business

Kenya's Public Debt to Rise to Sh7 Trillion By the End of President Uhuru's Tenure

Kenya's public debt is expected to rise to Sh5.6 trillion by June, 2019 and Sh7 trillion by the time President Kenyatta exits office in 2022. The 2018 annual public debt management report tabled in Parliament by Natio…

Oct 18, 2018
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Depositors to Earn Reduced Interests from Kenyan Banks after Scrapping of Deposit Floor
Business

Depositors to Earn Reduced Interests from Kenyan Banks after Scrapping of Deposit Floor

Depositors will soon begin feeling the pinch following the scrapping of deposit floor by Finance Act 2018. Following the enactment of the law, banks have started slashing interest earned on deposits. The act removed t…

Oct 17, 2018
Safaricom Announces Increased Charges on Voice Calls, SMS, Data
Business

Safaricom Announces Increased Charges on Voice Calls, SMS, Data

Safaricom has announced it will from midnight, Wednesday increase the prices of voice calls, SMS and internet bundles in line with the Finance Act 2018. In the revised tariffs, Safaricom CEO Bob Collymore says charges…

Oct 17, 2018
'Embarassed' President Kenyatta Refuses to Read Written Speech at an Event in Nairobi
Business

'Embarassed' President Kenyatta Refuses to Read Written Speech at an Event in Nairobi

President Kenyatta was on Tuesday forced to discard a written speech he had prepared to read during an event with small scale traders in Nairobi. During a Small and Medium Enterprises Roundtable meeting at Strathmore…

Oct 17, 2018
Nakumatt Shuts Down Nairobi's Mega Branch after 27 Years of Operation
Business

Nakumatt Shuts Down Nairobi's Mega Branch after 27 Years of Operation

Cash-strapped former Kenyan giant retail chain Nakumatt has announced the closure of one of its most popular outlets in Nairobi. In a notice, the Supermarket said Nairobi's Nakumatt Mega branch will cease to be operat…

Oct 16, 2018
New Buses for Nairobi's BRT System Unveiled
Business

New Buses for Nairobi's BRT System Unveiled

Planned Nairobi's Bus Rapid Transit (BRT) system has received a major boost after Isuzu East Africa unveiled two types of high-capacity buses for the project. The automobile company said each of the two buses will hav…

Oct 16, 2018
Kenyans Transact Sh1.5 Trillion in 90 Days through Mpesa
Business

Kenyans Transact Sh1.5 Trillion in 90 Days through Mpesa

Kenyans transacted a staggering Sh1.9 billion through mobile money platforms within a period of three months, the Communication Authority of Kenya (CA) has announced. In a new report, the Communication Authority revea…

Oct 15, 2018
President Kenyatta to Launch Kenya Airways' Maiden Nonstop Flight to the US Next Week
Business

President Kenyatta to Launch Kenya Airways' Maiden Nonstop Flight to the US Next Week

President Kenyatta is next week expected to preside over the launch of Kenya Airways' inaugural direct flight to the United States. Speaking to the media at State Lodge, Kakamega on Sunday, State House Spokesperson Ka…

Oct 14, 2018
Forbes Ranks Safaricom as Africa's Best Employer, 67th Globally
Business

Forbes Ranks Safaricom as Africa's Best Employer, 67th Globally

Kenya's giant telecommunications firm Safaricom has been ranked the 67th best employer in the world, and position one in Africa. This was revealed in the newly released Forbes’ Global 2000 list of the World’s Best Emp…

Oct 13, 2018
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