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Business

East Africa's First Ever Full Electric Cab, Nopia Ride Launched in Nairobi
Business

East Africa's First Ever Full Electric Cab, Nopia Ride Launched in Nairobi

Kenyans can now ride on electric-powered cars after EkoRent, a Finland company dealing in electric mobility unveiled full electric cabs in Nairobi. The company launched Nopia ride at the Two Rivers Mall in Ruaka on Th…

Aug 10, 2018
Safaricom Pays CEO Bob Collymore Over Half a Million Shillings Per Day
Business

Safaricom Pays CEO Bob Collymore Over Half a Million Shillings Per Day

Safaricom Chief Executive Officer (CEO) Bob Collymore pocketed about Sh540,000 per day in remuneration, the company's annual report has revealed. The yearly report from Safaricom's financial year ending March, 2018 sh…

Aug 8, 2018
US Firm Gets Authority to Acquire Telkom Kenya's 723 Telecommunication Towers
Business

US Firm Gets Authority to Acquire Telkom Kenya's 723 Telecommunication Towers

American Tower Corporation (ATC) has received the go-ahead for acquisition of more than 700 telecommunications towers from Telkom Kenya. ATC received the nod from the Competition Authority of Kenya (CAK) for acquisiti…

Aug 3, 2018
New Email Scam Targets PayPal Users
Business

New Email Scam Targets PayPal Users

A new email scam targeting PayPal users has hit the internet, leaving customers at risk of losing their cash. The malicious email is crafted to appear like an official communication from PayPal's address ‘service@payp…

Aug 2, 2018
Nairobi Governor Mike Sonko Shuts Down Chandarana Foodplus Outlets over Racism Claims
Business

Nairobi Governor Mike Sonko Shuts Down Chandarana Foodplus Outlets over Racism Claims

Nairobi Governor Mike Sonko has ordered the cancellation of licenses for all Chandarana Foodplus supermarkets in the city. Sonko announced the shutdown of the chain retailer following claims of racial bias that have s…

Jul 30, 2018
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US Steps Up Investment in Kenya Amid Competition from China
Business

US Steps Up Investment in Kenya Amid Competition from China

Investments in Kenya by the United States have increased in the past few months, entries in the American business deal book in Kenya shows. The increased investment shows US's renewed efforts to reclaim its financial…

Jul 30, 2018
Reprieve for 50,000 Ekeza Sacco Members, including 5,000 in the Diaspora, as License is Reinstated
Business

Reprieve for 50,000 Ekeza Sacco Members, including 5,000 in the Diaspora, as License is Reinstated

Government has reinstated the operation license to Ekeza Sacco following a ban that lasted for four months. The Sacco was shutdown through a gazette notice issued by Commissioner for Co-operative Development Mary Mung…

Jul 28, 2018
Kenya Airways Acquires World's Fastest Passenger Jet
Business

Kenya Airways Acquires World's Fastest Passenger Jet

Kenya Airways has acquired the 'world's fastest and most efficient' passenger jet, Embraer E190-E2 from Brazilian aircraft maker Embraer S.A.  The latest acquisition adds to KQ's existing fleet of Embraer 190, making…

Jul 27, 2018
Nairobi Traders Protest Influx of Chinese Vendors in the City Center
Business

Nairobi Traders Protest Influx of Chinese Vendors in the City Center

The influx of Chinese nationals into local businesses has infuriated Kenyan small traders and importers. The traders now say the unregulated entry of the foreigners into Nairobi retail scene has affected their busines…

Jul 27, 2018
Kenyan Tech Startup Bags Sh5 Million Prize in Visa Competition
Business

Kenyan Tech Startup Bags Sh5 Million Prize in Visa Competition

Mookh Africa, a Kenyan online selling platform has bagged Sh5 million after becoming the overall winner of Visa’s funding competition for tech startups in Africa. The competition, dubbed "Everywhere", is a  global ini…

Jul 26, 2018
Kenya's Foreign Currency Deposits Cross Sh500 Billion Mark for the First Time
Business

Kenya's Foreign Currency Deposits Cross Sh500 Billion Mark for the First Time

Kenya's foreign currency deposits in local banks has hit an all-time record of more than 500 billion shillings. The rise in the foreign currency deposits is largely attributed to Kenyans taking advantage of the tax am…

Jul 26, 2018
Sh200 Million Stashed in Foreign Accounts By Kenyans Frozen
Business

Sh200 Million Stashed in Foreign Accounts By Kenyans Frozen

Swiss authorities have reportedly frozen more than $2 million (Sh201 million) suspected to be proceeds of corruption in Kenya. The cash is part of the more than Sh96 billion allegedly stashed in Swiss bank accounts by…

Jul 25, 2018
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Trump Top Official Woos Kenya to Award Sh300 Billion Nairobi-Mombasa Expressway Contract to US Firm
Business

Trump Top Official Woos Kenya to Award Sh300 Billion Nairobi-Mombasa Expressway Contract to US Firm

The head of the United States government agency that helps private businesses invest in developing countries is wooing Kenya to award the contract for construction of Sh300 billion Nairobi-Mombasa expressway to Americ…

Jul 25, 2018
Kenyan Tech Start-Ups Battle for Visa Funding
Business

Kenyan Tech Start-Ups Battle for Visa Funding

Four Kenyan tech start-ups are set to battle for Sh5 million funding from American multinational financial services corporation Visa. The four, M-Changa, Mookh, WayaWaya and LipaPlus are among 12 finalists selected fr…

Jul 23, 2018
Astral to Fly Kenya's First Cargo Drones
Business

Astral to Fly Kenya's First Cargo Drones

Kenya-based cargo airline Astral Aviation is set to launch country's first cargo drones after inking a deal for the acquisition of the remote-controlled aircraft. Astral has signed an agreement with Dubai-based Falcon…

Jul 23, 2018
Kenya Airways Secures Parts, Services Deal with US Plane Manufacturer Boeing
Business

Kenya Airways Secures Parts, Services Deal with US Plane Manufacturer Boeing

Kenya Airways (KQ) has inked a deal with American aircraft manufacturer Boeing, making it the first African airline to use Boeing’s Consumable & Expendable Services. The agreement will help Kenya Airways improve its a…

Jul 23, 2018
Trump Top Official in Kenya to Counter China Invasion
Business

Trump Top Official in Kenya to Counter China Invasion

US top government officials are set to arrive in the country on Saturday for a tour aimed at boosting business with Kenya and countering China's investments in Africa. The officials are drawn from a state agency taske…

Jul 21, 2018
Court Suspends Implementation of Robin Hood Tax on Kenyans Transacting Over Sh500,000
Business

Court Suspends Implementation of Robin Hood Tax on Kenyans Transacting Over Sh500,000

The High Court has issued conservatory orders suspending the implementation of the excise duty on transactions of cash exceeding half a million shillings. The excise duty on the bulk bank cash transactions was announc…

Jul 19, 2018
Wealthy Kenyans Stash More Billions in Foreign Accounts
Business

Wealthy Kenyans Stash More Billions in Foreign Accounts

The amount of cash stashed by wealthy Kenyans in foreign accounts increased in 2017 despite spirited efforts by the government to have the assets returned to Kenya. Money hidden by Kenyans in Swiss accounts grew by 4…

Jul 19, 2018
Gov't Imposes Taxes on Employees' Allowances, Airtime
Business

Gov't Imposes Taxes on Employees' Allowances, Airtime

The government is set to introduce taxation on airtime received by Kenyan workers from their employers beginning August 1st, 2018, in a new Bill published by Treasury Cabinet Secretary Henry Rotich. The new taxes will…

Jul 18, 2018
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