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Business

Safaricom Announces Increased Charges on Mpesa Transactions
Business

Safaricom Announces Increased Charges on Mpesa Transactions

Kenyans will from Sunday, July 1st be forced to dig deeper into their pockets as the new increased charges for mobile cash transfer service take effect. In his budget statement, Treasury Cabinet Secretary Henry Rotich…

Jun 30, 2018
Kenya Airways Plans Major Product Overhaul Ahead of US Direct Flights
Business

Kenya Airways Plans Major Product Overhaul Ahead of US Direct Flights

Kenya Airways is set to carry out a major overhaul of its products and services ahead of the scheduled maiden nonstop flight to the United States on October 28th. The airline said the move aims at gaining a competitiv…

Jun 29, 2018
Equity Bank Acquires Exclusive Rights to Issue American Express Cards in Kenya
Business

Equity Bank Acquires Exclusive Rights to Issue American Express Cards in Kenya

Equity Bank has acquired exclusive rights to issue American Express cards to merchants and its customers in Kenya in a new deal. Equity first signed the deal with American Express under a merchant acquisition agreemen…

Jun 29, 2018
2.4 Million Kenyans File Tax Returns Ahead of Saturday Deadline as KRA Insists No Extension of Period
Business

2.4 Million Kenyans File Tax Returns Ahead of Saturday Deadline as KRA Insists No Extension of Period

More than 2.4 million Kenyans have filed tax returns ahead of June 30th deadline even as Kenya Revenue Authority (KRA) insist the period will not be extended. The number is slightly high compared to the 1.8 million Ke…

Jun 28, 2018
Kenya, US Sign Sh10 Billion Deals for Uhuru’s Big Four Agenda
Business

Kenya, US Sign Sh10 Billion Deals for Uhuru’s Big Four Agenda

Deals worth Sh10 billion have been signed at the ongoing United States-Kenya trade conference at the United Nations headquarters in Gigiri, Nairobi. US Under Secretary of Commerce for International Trade Gil Kaplan ar…

Jun 28, 2018
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Kenya Airways Recalls Its Leased Dreamliner Aircrafts to be Deployed for Nonstop Flights to the US
Business

Kenya Airways Recalls Its Leased Dreamliner Aircrafts to be Deployed for Nonstop Flights to the US

Kenya Airways has recalled its Dreamliner aircrafts currently leased to Oman and Turkish national airlines. Speaking at the Jomo Kenyatta International Airport (JKIA) on Wednesday, KQ Chief Executive Officer Sebastian…

Jun 28, 2018
Kenyans to File Tax Returns after June 30th Deadline in New Regulations
Business

Kenyans to File Tax Returns after June 30th Deadline in New Regulations

Taxpayers will from next year breath a sigh of relief as Kenya Revenue Authority (KRA) moves to relax tough rules on tax returns. From 2019, the taxman will allow Kenyans to file their returns after the June 30th dead…

Jun 26, 2018
Kenyans Withdrawing, Depositing Huge Amounts of Cash Slapped with Tougher Rules
Business

Kenyans Withdrawing, Depositing Huge Amounts of Cash Slapped with Tougher Rules

The Kenya Bankers Association (KBA) has issued new and tougher rules on withdrawals of huge amounts of cash from banks. In the new directives, customers withdrawing more than Sh10 million will have to give a three-day…

Jun 26, 2018
Bidco Launches Sukuma Wiki Flavored Ugali Noodles
Business

Bidco Launches Sukuma Wiki Flavored Ugali Noodles

Kenyan consumer goods company, Bidco has unveiled Ugali noodles with sukuma wiki flavor to the local market. The maize meal noodles were launched alongside cheese and onion flavoured noodles, giving local consumers ad…

Jun 25, 2018
Agriculture Cabinet Secretary Mwangi Kiunjuri Explains How Mercury Ended Up in Contraband Sugar
Business

Agriculture Cabinet Secretary Mwangi Kiunjuri Explains How Mercury Ended Up in Contraband Sugar

Agriculture Cabinet Secretary Mwangi Kiunjuri has explained how illegal sugar imported into the country might have been contaminated with poisonous compounds such as mercury and copper. Speaking on Monday when he appe…

Jun 25, 2018
KEBS Disputes Interior CS Fred Matiang'i Claims of Traces of Mercury in Impounded Contraband Sugar
Business

KEBS Disputes Interior CS Fred Matiang'i Claims of Traces of Mercury in Impounded Contraband Sugar

Kenya Bureau of Standards (KEBS) has denied reports that traces of mercury and copper were found in recently impounded contraband sugar. Interior Cabinet Secretary Fred Matiang'i had earlier said that  tests carried o…

Jun 21, 2018
Nakumatt CEO Atul Shah Accused of Stealing Sh18 Billion Worth of Stock
Business

Nakumatt CEO Atul Shah Accused of Stealing Sh18 Billion Worth of Stock

The path to recovery of the embattled retail chain Nakumatt has taken a new twist after the court’s appointed administrator, Peter Kadhi accused Chief Executive Officer (CEO) Atul Shah of playing part in the loss of S…

Jun 21, 2018
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US Under Secretary for Trade Gil Kaplan to Lead Delegation of Investors to Kenya
Business

US Under Secretary for Trade Gil Kaplan to Lead Delegation of Investors to Kenya

US Under Secretary for International Trade Gil Kaplan is set to lead a delegation of American businesspeople to Kenya next week. Speaking during her maiden press briefing on Wednesday, State House Deputy Spokesperson…

Jun 20, 2018
Safaricom Opposes Gov't Plan to Increase Tax on Mobile Cash Transfer to 12 Percent
Business

Safaricom Opposes Gov't Plan to Increase Tax on Mobile Cash Transfer to 12 Percent

Kenya telecommunication giant Safaricom has opposed tax increase on mobile money transfer proposed by Treasury Cabinet Secretary Henry Rotich. While reading 2018/2019 budget statement in Parliament last Thursday, Roti…

Jun 18, 2018
Equity Bank to Launch More Special Branches for Rich Kenyans Depositing a Minimum of Sh200,000
Business

Equity Bank to Launch More Special Branches for Rich Kenyans Depositing a Minimum of Sh200,000

Equity Bank is set to launch new high-class branches targeting rich Kenyans depositing a minimum of Sh200,000 at a time. The move will bring the number of such exclusive banking outlets to 20 from the current 16 acros…

Jun 17, 2018
MPs Vow to Shoot Down Govt's Plan to End Cheap Loans for Kenyans
Business

MPs Vow to Shoot Down Govt's Plan to End Cheap Loans for Kenyans

A section of Members of Parliament have vowed to shoot down plans by the National Treasury to repeal the interest rate cap law that gave Kenyans access to cheap loans from banks. While reading 2018/2019 budget stateme…

Jun 16, 2018
Gov't Extends Amnesty Period for Rich Kenyans with Billions Hidden in Foreign Accounts
Business

Gov't Extends Amnesty Period for Rich Kenyans with Billions Hidden in Foreign Accounts

The government has reassured rich Kenyans who have hidden their cash and assets abroad that they will not be pursued if they return them to the country. National Treasury Cabinet Secretary Henry Rotich said government…

Jun 16, 2018
Winners and Losers of Kenya’s Sh3.07 Trillion 2018/2019 Budget
Business

Winners and Losers of Kenya’s Sh3.07 Trillion 2018/2019 Budget

There were winners and losers in the Sh3.07 trillion 2018/2019 financial year budget unveiled by Treasury Cabinet Secretary Henry Rotich on Thursday. Local manufacturers of steel, textile and timber are among the bigg…

Jun 15, 2018
Kenya's Public Debt Hits Sh5 Trillion Mark as Appetite for Borrowing Grows
Business

Kenya's Public Debt Hits Sh5 Trillion Mark as Appetite for Borrowing Grows

Kenya’s public debt has hit Sh5 trillion mark for the first time, raising questions over the country’s ability to sustain the load in long term. As at February this year, Kenya's total outstanding external debt stood…

Jun 15, 2018
No More Cheap Loans for Kenyans as Gov't Moves to Repeal Interest Rate Cap Law
Business

No More Cheap Loans for Kenyans as Gov't Moves to Repeal Interest Rate Cap Law

Treasury Cabinet Secretary Henry Rotich has announced the state will revise the interest rates capping law that took effect in September 2016, a move that will put to an end access of cheap loans by Kenyans. In what c…

Jun 15, 2018
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