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Business

Nairobi Named Sixth Wealthiest City in Africa
Business

Nairobi Named Sixth Wealthiest City in Africa

A new report has named Nairobi as the sixth wealthiest city in Africa and the richest in the East African region. The study conducted by New World Wealth and AfrAsia Bank from Mauritius shows that Nairobi’s privately…

Sep 17, 2018
Police Impound Rotten Fish from China Destined for Sale in the Kenyan Market
Business

Police Impound Rotten Fish from China Destined for Sale in the Kenyan Market

Police in Eldoret town have impounded several tonnes of rotten fish allegedly imported from China and destined for sale in the Kenyan market. The lorry ferrying the fish was dangerously parked on a pedestrian footpath…

Sep 16, 2018
Kenya Airways to Launch Direct Cargo Flights to the US in December
Business

Kenya Airways to Launch Direct Cargo Flights to the US in December

Kenya Airways has announced it will launch direct cargo flights to the United States on December 1st. Kenya Airways Chief Executive Officer Sebastian Mikosz said the airline is still waiting for further approvals from…

Sep 15, 2018
City Businesswoman Launches Taxi Hailing App in Nairobi Exclusively for Women
Business

City Businesswoman Launches Taxi Hailing App in Nairobi Exclusively for Women

A city businesswoman has launched an online taxi hailing service in Nairobi exclusively for female customers. Entrepreneur Mehnaz Sarwar has unveiled an online taxi application dubbed An Nisa, which will only recruit…

Sep 15, 2018
US Gives Kenya Sh150 Million for JKIA as It Okays Nonstop Flights to New York City
Business

US Gives Kenya Sh150 Million for JKIA as It Okays Nonstop Flights to New York City

Kenya Airways (KQ) has received an authorization letter allowing it to commence direct flights to the United States. The letter was officially presented by the outgoing American Ambassador to Kenya Robert Godec on Thu…

Sep 14, 2018
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Affluent Kenyans of Indian Descent Repatriate Sh13 Billion Stashed in Foreign Accounts
Business

Affluent Kenyans of Indian Descent Repatriate Sh13 Billion Stashed in Foreign Accounts

Kenyans of Indian descent have returned more than 13 billion shillings that was hidden in foreign accounts. The affluent Kenyans are taking advantage of the tax amnesty on assets stashed abroad announced by Treasury C…

Sep 11, 2018
Ekeza Sacco, Which Has 5,000 Members in the Diaspora, to Know its Fate in Three Months
Business

Ekeza Sacco, Which Has 5,000 Members in the Diaspora, to Know its Fate in Three Months

Ekeza Savings and Credit Cooperative Society will know its fate in three months time, Commissioner of Co-operatives Mary Mungai says. Ms Mungai said a verdict will be given after liquidators complete their work even a…

Sep 9, 2018
More Kenyans Travel to the UAE, Pakistan and Spain
Business

More Kenyans Travel to the UAE, Pakistan and Spain

United Arab Emirates (UAE) has been named the fastest growng destination for Kenyan travellers in the last 12 months. An analysis carried out by Travelport - one of the world's leading travel commerce platforms -  sho…

Sep 8, 2018
Why Super-Rich Kenyans are Investing Abroad
Business

Why Super-Rich Kenyans are Investing Abroad

The number of wealthy Kenyans investing outside the country has increased, with most of them putting their cash in foreign-backed mutual funds. Paul Njoki, the head of Standard Chartered Bank's wealth management in Ke…

Sep 7, 2018
China Refuses to Fund Construction of SGR Line until Kenya First Proves Its Viability
Business

China Refuses to Fund Construction of SGR Line until Kenya First Proves Its Viability

The Chinese government has reportedly declined to finance the construction of Standard Gauge Railway (SGR) line from Naivasha to Kisumu until Kenya proves its viability. China is reported to have faulted the project a…

Sep 6, 2018
Bill Gates Seeks to Link All Kenyan Banks with Single Software
Business

Bill Gates Seeks to Link All Kenyan Banks with Single Software

United States billionaire Bill Gates is seeking to link all Kenyan banks and mobile cash platforms through a single software platform. Through the Bill and Melinda Gates Foundation, Gates is seeking Central Bank of Ke…

Sep 6, 2018
President Uhuru Urges China to Pay 50 Percent of the Cost of Extending SGR to Kisumu
Business

President Uhuru Urges China to Pay 50 Percent of the Cost of Extending SGR to Kisumu

President Uhuru Kenyatta has urged China to fund 50 percent of the cost of extending the Standard Gauge Railway (SGR) from Naivasha to Kisumu. During bilateral talks with Chinese President Xi Jinping on Tuesday, Kenya…

Sep 5, 2018
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Ekeza Sacco, Which Has 5,000 Members in the Diaspora to Remain Shut, Says Govt
Business

Ekeza Sacco, Which Has 5,000 Members in the Diaspora to Remain Shut, Says Govt

The government says Ekeza Sacco will remain shut until it is convinced that there is a proper management structure in place. Speaking to Business Daily, acting Principal Secretary for Co-operatives Chris Kiptoo said l…

Sep 5, 2018
Fuel Tax Debate: You Must Pay to Enjoy Services, Secure Future, Equity CEO James Mwangi Tells Kenyans
Business

Fuel Tax Debate: You Must Pay to Enjoy Services, Secure Future, Equity CEO James Mwangi Tells Kenyans

Equity Bank Chief Executive Officer (CEO) James Mwangi has urged Kenyans to stop complaining about increased taxes. Reacting to the 16 percent Value Added Tax (VAT) imposed on fuel products by the government in order…

Sep 4, 2018
Foreign Cash Deposits in Kenyan Banks Grow By Sh60 Billion Buoyed By Diaspora Inflows
Business

Foreign Cash Deposits in Kenyan Banks Grow By Sh60 Billion Buoyed By Diaspora Inflows

Foreign currency deposits held in local banks increased by Sh60 billion in the month of June, data from the Kenyan government shows. Analysts attributed the huge growth of the foreign currency deposits to increased re…

Sep 4, 2018
Kenya Shilling Strengthens Against US Dollar on Diaspora Inflows Support
Business

Kenya Shilling Strengthens Against US Dollar on Diaspora Inflows Support

The Kenyan shilling strengthened against the US dollar on Friday, supported by remittances by Kenyans in the diaspora and foreign investors in government securities. The shilling traded at 100.55 on average in the int…

Sep 3, 2018
Nakumatt Shuts Down Its Last Remaining Outlet in Mombasa
Business

Nakumatt Shuts Down Its Last Remaining Outlet in Mombasa

Nakumatt has shut down its Likoni Branch, the last remaining outlet of the region's once largest retailer in the city of Mombasa and the coast. The struggling supermarket exited Likoni outlet following an order by the…

Sep 3, 2018
Hard Times ahead for Kenyans as KRA Announces 16 Percent Tax on Fuel
Business

Hard Times ahead for Kenyans as KRA Announces 16 Percent Tax on Fuel

The Kenya Revenue Authority (KRA) has announced 16 percent tax on all petroleum products effective September 1st. This means motorists will now have to dig deeper into their pockets for fuel and other products whose p…

Sep 1, 2018
Inside the Sh300 Billion Nairobi-Mombasa Expressway to be Constructed by US Engineering Firm Bechtel
Business

Inside the Sh300 Billion Nairobi-Mombasa Expressway to be Constructed by US Engineering Firm Bechtel

The construction of a Sh300 billion state-of-the-art expressway connecting Nairobi and Mombasa is set to begin before the end of this year. The road will be build by United States engineering firm Bechtel after Kenya…

Sep 1, 2018
Uhuru Kenyatta to Meet Chinese President Xi Jinping in Beijing
Business

Uhuru Kenyatta to Meet Chinese President Xi Jinping in Beijing

President Uhuru Kenyatta is this weekend expected to travel to China where he will attend the China-Africa forum that will take place from September 1st to 5th.  During the trip, Kenyatta is also scheduled to hold tal…

Aug 31, 2018
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