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Business

Kenyans Transact a Record Sh1.8 Trillion Via Mobile Cash in Three Months
Business

Kenyans Transact a Record Sh1.8 Trillion Via Mobile Cash in Three Months

The Communications Authority of Kenya (CA) has revealed that Kenyans transacted a record Sh1.8 trillion through mobile cash platforms between January and March, 2018. Of the Sh1.8 trillion, Safaricom's Mpesa service a…

Jul 18, 2018
Standard Gauge Railway Makes Sh10 Billion Loss in Its First Year of Operation
Business

Standard Gauge Railway Makes Sh10 Billion Loss in Its First Year of Operation

The Standard Gauge Railway (SGR), which was dubbed the biggest infrastructural project in the history of Kenya made a loss of close to Sh10 billion in its first  year of operation. Figures from the ministry of Transpo…

Jul 18, 2018
Suspected Fraud Attack at Chase Bank Leaves Customers Stranded
Business

Suspected Fraud Attack at Chase Bank Leaves Customers Stranded

A suspected fraud attack at Chase Bank has reportedly paralyzed key services at the lending institution in the last five days. Since Sunday, customers have not been able to access key services such as debit card trans…

Jul 14, 2018
South African Wins Sh7.8 Million MpesaTu Promotion Apartment
Business

South African Wins Sh7.8 Million MpesaTu Promotion Apartment

A South African national living in Kenya has become the latest winner of a multi-million shilling apartment in the Safaricom's MpesaTu promotion. 49-year-old Eric Lindenberg was handed keys to the Sh7.8million house l…

Jul 14, 2018
US-Based Tech Company Cisco to Launch Innovation Hub in Nairobi
Business

US-Based Tech Company Cisco to Launch Innovation Hub in Nairobi

US-based technology firm Cisco Systems is set to launch an innovation hub in Nairobi later this year. Cisco seeks to recruit tech enthusiasts in the country with the Sh50 million ($500,000) lab that has a capacity of…

Jul 13, 2018
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Kenya Ranked Africa's Third Most Innovative Country in Sub Saharan Africa
Business

Kenya Ranked Africa's Third Most Innovative Country in Sub Saharan Africa

Kenya has been ranked Sub Saharan Africa's third most innovative country in the Global Innovative Index (GII) 2018. The index named access to microfinance loans, innovation linkages and exports of creative services, w…

Jul 12, 2018
Gov't Denies Awarding Sh300 Billion Nairobi-Mombasa Expressway Contract to US Company
Business

Gov't Denies Awarding Sh300 Billion Nairobi-Mombasa Expressway Contract to US Company

The government has denied that the contract for the construction of Sh300 billion Nairobi-Mombasa expressway was awarded to American company Bechtel. Speaking when he appeared before Parliament’s Implementation Commit…

Jul 12, 2018
KRA Targets Unlicensed Tax Agents with Tougher Regulations
Business

KRA Targets Unlicensed Tax Agents with Tougher Regulations

The Kenya Revenue Authority (KRA) has formulated new tough regulations in a bid to tame unlicensed tax agents in the country. The tax agency has published the Tax Procedures (Tax Agents) Regulations 2018 that require…

Jul 11, 2018
SGR Isn't a Matatu: Deputy President William Ruto Justifies Sh1 Billion Monthly Operation Cost for Madaraka Express
Business

SGR Isn't a Matatu: Deputy President William Ruto Justifies Sh1 Billion Monthly Operation Cost for Madaraka Express

Deputy President William Ruto has confirmed reports by the media that Kenyan taxpayers are shouldering a whooping Sh30 million per day as operation cost for the Standard Gauge Railway (SGR) passenger train between Nai…

Jul 9, 2018
Kenya Airways, Safaricom Named in List of 100 Best Companies in Africa
Business

Kenya Airways, Safaricom Named in List of 100 Best Companies in Africa

Kenya Airways has been named in the top 100 best companies to work for in the continent of Africa. The ranking follows a survey that interviewed more than 20,000 African professionals on questions about employee engag…

Jul 9, 2018
Ten Highest Paid Non-Executive Directors in Kenya
Business

Ten Highest Paid Non-Executive Directors in Kenya

Chairpersons of a host of top Kenyan companies listed in the Nairobi Securities Exchange (NSE) have emerged as some of the highly paid individuals in corporate sector. Business Daily has identified the top ten non-exe…

Jul 7, 2018
MP Moves to Protect Loan Guarantors from Lenders in New Bill
Business

MP Moves to Protect Loan Guarantors from Lenders in New Bill

A Member of Parliament has moved to make amendments to the existing law to stop lending institutions from going for guarantor's property in case principal borrowers default on loans. In his proposal, Juja MP Francis W…

Jul 7, 2018
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Nyeri Restaurant Accepting Payments Through Bitcoins
Business

Nyeri Restaurant Accepting Payments Through Bitcoins

A Nyeri-based restaurant has become one the first businesses entities in the country to accept payments through world's famous cryptocurrency, Bitcoin. Betty Place Restaurant, located in the heart of the former Centra…

Jul 6, 2018
Kenyan Banks Begin Demanding for KRA PIN Certificate from Account Holders
Business

Kenyan Banks Begin Demanding for KRA PIN Certificate from Account Holders

Commercial banks are now making it mandatory for Kenyans opening accounts to supply their Kenya Revenue Authority (KRA) Personal Identification Number (PIN). The lenders have also requested existing account holders to…

Jul 5, 2018
Kenya to Hold Talks with US Company over Construction of Sh300 Billion Nairobi-Mombasa Expressway
Business

Kenya to Hold Talks with US Company over Construction of Sh300 Billion Nairobi-Mombasa Expressway

The Government of Kenya is set to hold discussions with US construction company Bechtel over the construction of multi-billion Nairobi-Mombasa expressway. The two sides will from next week engage on the the financing…

Jul 4, 2018
Former Nairobi Deputy Governor Polycarp Igathe Confirmed as Equity Bank's CFO
Business

Former Nairobi Deputy Governor Polycarp Igathe Confirmed as Equity Bank's CFO

Former Nairobi Deputy Governor Polycarp Igathe has officially been confirmed as Equity Bank’s Chief Commercial Officer (CFO). The lender confirmed Igathe's appointment alongside that of Julius Kayoboke as Director of…

Jul 4, 2018
Jomo Kenyatta International Airport Named Africa's Best Facility
Business

Jomo Kenyatta International Airport Named Africa's Best Facility

The Jomo Kenyatta International Airport (JKIA) has been named the best airport facility in Africa and 38th globally in new ranking. The latest ranking used quality of service, on-time performance and passenger experie…

Jul 4, 2018
Nairobi Among Top 4 Foreign Direct Investment Destinations in Africa
Business

Nairobi Among Top 4 Foreign Direct Investment Destinations in Africa

The United Nations has placed Nairobi as one of the top four major urban Foreign Direct Investment (FDI) destinations in Africa. This is together with Cairo, Lagos and Johannesburg. “FDI hubs such as Johannesburg, Cai…

Jul 2, 2018
Bankers Challenge Gov't Plan to Impose Tax on Kenyans Making Huge Transactions
Business

Bankers Challenge Gov't Plan to Impose Tax on Kenyans Making Huge Transactions

Bankers have moved to court to challenge plans to increase tax on transactions of more than Sh500,000 as proposed by National Treasury Cabinet Secretary Henry Rotich. The Kenya Bankers Association (KBA) filed a case o…

Jul 2, 2018
Financial Times of London Heaps Praise on Kenya's Devolution System
Business

Financial Times of London Heaps Praise on Kenya's Devolution System

A London-based publication has hailed the impact made by devolution in Kenya, but indicates that the system can bring more benefits if the 47 counties join regional economic blocs to attract investment. In a four-page…

Jul 2, 2018
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