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Business

20 New British Companies to Open Shop in Kenya
Business

20 New British Companies to Open Shop in Kenya

Twenty new British companies are set to open shop in Kenya, United Kingdom Prime Minister Theresa May has announced. Speaking at Kenya-UK business forum at Strathmore University in Nairobi, May said the entry of the 2…

Aug 31, 2018
Kenya Airways to Take Over Running of JKIA from KAA
Business

Kenya Airways to Take Over Running of JKIA from KAA

Kenya Airways is set to assume the running of daily operations of Jomo Kenyatta International Airport (JKIA) from Kenya Airports Authority (KAA). Speaking to the press, Kenya Airways Chief Executive Officer (CEO) Seba…

Aug 30, 2018
Relief to Kenyans Making Huge Cash Transactions as MPs Reject Proposed Robin Hood Tax
Business

Relief to Kenyans Making Huge Cash Transactions as MPs Reject Proposed Robin Hood Tax

Kenyans transacting more than half-a-million shillings can now have a reason to smile after Members of Parliament on Thursday turned down a proposal that sought to impose a 0.05 per cent tax. MPs voted to reject the e…

Aug 30, 2018
Kenya Airways Announces Sh4 Billion Half-Year Loss
Business

Kenya Airways Announces Sh4 Billion Half-Year Loss

Kenya Airways has recorded a loss of Sh4 billion in the first six months of 2018, representing a 30 percent improvement from the Sh5.7 billion posted in the same period the previous year. The airline’s revenue grew to…

Aug 29, 2018
JKIA Receives Last Point of Departure Clearance, Paving Way for Nonstop Flights to the US
Business

JKIA Receives Last Point of Departure Clearance, Paving Way for Nonstop Flights to the US

The United States government has granted Jomo Kenyatta International Airport (JKIA) the Last Point of Departure (LPD) clearance. This clearance paves the way for airlines to fly directly from JKIA to any destination i…

Aug 29, 2018
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President Kenyatta Holds Meeting with Top US Investors in Washington, DC
Business

President Kenyatta Holds Meeting with Top US Investors in Washington, DC

President Uhuru Kenyatta on Monday held successful talks with top American business leaders in Washington, DC. During the meeting with business executives of leading US companies operating under the Business Council f…

Aug 27, 2018
World Bank Topples China as Kenya's Biggest Creditor at Sh581 Billion
Business

World Bank Topples China as Kenya's Biggest Creditor at Sh581 Billion

The World Bank has regained its grip as Kenya's leading creditor after earlier being overtaken by China. This comes after Kenya borrowed Sh54 billion from the Washington DC-based in three months this year, helping it…

Aug 27, 2018
British Prime Minister Theresa May Troops to Kenya with Top UK Investors
Business

British Prime Minister Theresa May Troops to Kenya with Top UK Investors

British Prime Minister Theresa May is this week expected to visit Kenya as part of her three-nation tour to Africa that will also see her land in South Africa and Nigeria. May is set to be the first British Prime Mini…

Aug 27, 2018
Nairobi-Based NGO to Receive Sh200 Million Donor Funding from US Organization
Business

Nairobi-Based NGO to Receive Sh200 Million Donor Funding from US Organization

A Kenyan non-governmental organisation is set to receive this year's Sh200 million donor funding from a US-based non-profit organisation, Conrad N. Hilton Humanitarian. Shining Hope for Communities (SHOFCO) which offe…

Aug 24, 2018
Jubilee Insurance on the Spot for Sacking Female Employee Due to Pregnancy
Business

Jubilee Insurance on the Spot for Sacking Female Employee Due to Pregnancy

Jubilee Insurance has been placed on the spot for allegedly sacking a female employee over pregnancy. The insurance firm is said to have illegally terminated former head of corporate communications Victoria Miguda's c…

Aug 22, 2018
How Four Employees Stole Sh72 Million from Kenya Commercial Bank
Business

How Four Employees Stole Sh72 Million from Kenya Commercial Bank

Detectives from the Directorate of Criminal Investigations (DCI) arrested four employees for allegedly stealing Sh72.6 million from Kenya Commercial Bank (KCB). In a statement, DCI boss George Kinoti said the four wer…

Aug 20, 2018
Transit Passengers via JKIA Hit 800,000 in Two Months
Business

Transit Passengers via JKIA Hit 800,000 in Two Months

Jomo Kenyatta International Airport (JKIA) has continued to cement its place as Africa's top transit hub. The number of passengers passing through the Nairobi airport increased tremendously in the month of May and Jun…

Aug 18, 2018
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Construction of SGR Line between Naivasha and Kisumu to Cost Kenyans Sh380 Billion
Business

Construction of SGR Line between Naivasha and Kisumu to Cost Kenyans Sh380 Billion

The construction of Standard Gauge Railway (SGR) line between Naivasha Kisumu will cost Kenyans Sh380 billion, a State House operative has revealed. The cost is Sh53 billion more than the Sh327 billion used to complet…

Aug 18, 2018
Multi-Billion Shilling High-End Office Block - 14 Riverside in Nairobi's Westlands Area to Be Demolished
Business

Multi-Billion Shilling High-End Office Block - 14 Riverside in Nairobi's Westlands Area to Be Demolished

The multi-billion shilling exclusive office block, 14 Riverside in Nairobi's Westlands area is set to be the next victim of the ongoing crackdown on buildings sitting on riparian land in Nairobi. Julius Wanjau, who is…

Aug 17, 2018
Equity Group Announces Sh11 Billion Six-Month Profit
Business

Equity Group Announces Sh11 Billion Six-Month Profit

Equity Group has posted Sh11 billion profit for the first six months of 2018, an increase by 18 percent from the Sh9.4 billion recorded in the same period last year. The good performance was driven by Euity's trading…

Aug 16, 2018
Gov't Approves Construction of Sh4.1 Billion Cable Car in Mombasa
Business

Gov't Approves Construction of Sh4.1 Billion Cable Car in Mombasa

The government has approved the construction of Sh4.1 billion cable car to ferry people between Mombasa Island and the mainland. The project being undertaken jointly by a Kenyan and an Austrian company was okayed duri…

Aug 16, 2018
Kenya Airways Strikes Code Sharing Deal with Delta Airlines
Business

Kenya Airways Strikes Code Sharing Deal with Delta Airlines

Kenya Airways (KQ) has struck a code sharing partnership with Delta Airlines. Under the deal, Kenya Airways will embed Delta Airlines Code NYSE: DAL on its fleet of aircraft plying Amsterdam, Paris, London, and Accra…

Aug 16, 2018
KICC Stares at Auctioning over Sh500 Million Debt
Business

KICC Stares at Auctioning over Sh500 Million Debt

Kenyatta International Convention Centre (KICC), one of Kenya’s most popular conference facilities, is at risk of being auctioned over a debt of more than Sh500 million. The Standard reports that incensed companies ha…

Aug 12, 2018
Fight for Njenga Karume's Multi-Billion Shilling Empire Takes New Front
Business

Fight for Njenga Karume's Multi-Billion Shilling Empire Takes New Front

The scramble for former Cabinet Minister Njenga Karume's multi-billion shilling estate is set to take a fresh twist in a tussle pitting his children and trustees. The latest tussle has been sparked by an advertisement…

Aug 12, 2018
Nakumatt Founder Atul Shah Loses Sh125 Million after Demolition of Nairobi’s Ukay Mall
Business

Nakumatt Founder Atul Shah Loses Sh125 Million after Demolition of Nairobi’s Ukay Mall

Nakumatt founder Atul Shah says he lost at least Sh125 million following the demolition of Ukay Centre in Nairobi's Westlands area on Friday morning. Atul, who watched the bulldozer flatten the building that housed Na…

Aug 11, 2018
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