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Business

Kenyan Gov't to Impose Increased Taxes on Mobile, Bank Cash Transfers
Business

Kenyan Gov't to Impose Increased Taxes on Mobile, Bank Cash Transfers

The government is set to impose increased taxes in mobile money service in the coming financial year in a proposal by Treasury Cabinet Secretary Henry Rotich in the Sh3.074 Trillion 2018/2019 budget. While reading the…

Jun 14, 2018
Highlights Of The 2018/2019 Budget
Business

Highlights Of The 2018/2019 Budget

Treasury Cabinet Secretary Henry Rotich has indicated that Kenya will spend approximately Ksh2.55 trillion in the 2018/2019 financial year. Reading the Sh3.07 billion total budget for the fiscal year at the National A…

Jun 14, 2018
Kenya to Unveil a Record Sh3.07 Trillion 2018/2019 Budget
Business

Kenya to Unveil a Record Sh3.07 Trillion 2018/2019 Budget

Kenya is set to unveil an all-time high budget of Sh3.07 trillion for the 2018/19 financial year to be tabled before Parliament. In the 2017/2018 budget, Kenya spent Sh2.6 trillion. The government will be forced to bo…

Jun 12, 2018
Kenyan Gov't Sets Aside Sh1 Billion for Cuban Doctors
Business

Kenyan Gov't Sets Aside Sh1 Billion for Cuban Doctors

The National Treasury has set aside Sh1 billion to cater for wages and other allowances for the 100 Cuban doctors who arrived in the country last week. A breakdown of Treasury report tabled to the National Assembly’s…

Jun 12, 2018
Millions of Kenyans Consuming Poisonous Sugar
Business

Millions of Kenyans Consuming Poisonous Sugar

The government says millions of Kenyans are consuming poisonous sugar which is being sold in outlets across the country disguised as local brands. This comes after Deputy Head of Public Service Wanyama Musiambo, Inspe…

Jun 10, 2018
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Kenyans Rush to File Tax Returns Ahead of June 30th Deadline
Business

Kenyans Rush to File Tax Returns Ahead of June 30th Deadline

About 1.3 million Kenyans have filed their tax returns three weeks to the June 30th deadline, setting a new record. Kenya Revenue Authority (KRA) said the compliance represented an improvement by 400,000 compared to t…

Jun 9, 2018
East African Community to Launch Common Currency
Business

East African Community to Launch Common Currency

Citizens from the six East African countries are soon set to transact their businesses using a single currency as per the Monetary Union Protocol signed in 2013. Kenya's East African Community Cabinet Secretary Peter…

Jun 9, 2018
Equity Group Billionaire Founder Peter Munga Retires after 35-Year Stint
Business

Equity Group Billionaire Founder Peter Munga Retires after 35-Year Stint

Equity Group founder and Chairman Peter Munga is set to leave the bank after more than 30 years of service, the company has announced. Equity said Munga, who has been its Founder Chairman since 1984, will proceed on r…

Jun 6, 2018
Kenya Airways Introduces Direct Flights to South Africa
Business

Kenya Airways Introduces Direct Flights to South Africa

Kenya Airways has launched three direct flights to Cape Town, South Africa every week. The non-stop flights will leave Jomo Kenyatta International Airport (JKIA) in Nairobi to the South African city every Wednesday, F…

Jun 6, 2018
Nairobi MCAs Question How Sh297 Million was Wired into Australia's Maryland University Account
Business

Nairobi MCAs Question How Sh297 Million was Wired into Australia's Maryland University Account

Nairobi County Government finance department is on the spot after it was established that Sh297 million Bursary Fund was banked in the wrong account in Australia. Questions have been raised on how and who wired the hu…

Jun 6, 2018
Wealthy Kenyans With Billions Hidden in Offshore Accounts Rush to File Returns Ahead of Amnesty Deadline
Business

Wealthy Kenyans With Billions Hidden in Offshore Accounts Rush to File Returns Ahead of Amnesty Deadline

As June 30th deadline to file returns with Kenya Revenue Authority (KRA) fast closes in, a section of rich Kenyans who have hidden assets overseas are rushing to return the assets to avoid paying taxes. Tax consultant…

Jun 5, 2018
Kenya Pipeline Company Boss Joe Sang Denies Reports of Sh95 Billion Graft Scam
Business

Kenya Pipeline Company Boss Joe Sang Denies Reports of Sh95 Billion Graft Scam

Kenya Pipeline Company (KPC) Managing Director Joe Sang has refuted claims that the institution lost Sh95 billion in skewed tenders, terming the reports by the media as false and malicious.  Speaking to the media on T…

Jun 5, 2018
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This is a Great Day, President Uhuru Says as He Flags Off Kenya's First Crude Oil Exports
Business

This is a Great Day, President Uhuru Says as He Flags Off Kenya's First Crude Oil Exports

President Kenyatta has officially flagged off the first consignment of crude oil destined for export from Kenya. “A great day for Kenya,” the President wrote in the visitor’s book on arrival at Ngamia in the Turkana h…

Jun 3, 2018
NYS Scandal: 10 Commercial Banks Being Investigated for Illegal Transactions
Business

NYS Scandal: 10 Commercial Banks Being Investigated for Illegal Transactions

Ten commercial banks suspected to have allowed transactions of huge amounts of cash in the Sh9 billion scam at the National Youth Service (NYS) are being investigated and risk losing their operating license if found c…

May 31, 2018
Kenya Ports Authority Managing Director Catherine Mturi-Wairi Fired
Business

Kenya Ports Authority Managing Director Catherine Mturi-Wairi Fired

Kenya Ports Authority (KPA) Managing Director Catherine Mturi-Wairi has been sent home for reportedly failing to meet performance targets. The decision to suspend her was unanimously passed by KPA board of directors d…

May 31, 2018
SGR Passenger Train Madaraka Express Nets Sh1 Billion in 12 Months
Business

SGR Passenger Train Madaraka Express Nets Sh1 Billion in 12 Months

Standard Gauge Railway (SGR) passenger train, Madaraka Express, which was launched by President Kenyatta in June last year has earned the government Sh1 billion in revenue in a span of one year. Speaking on Wednesday…

May 31, 2018
Uber Rolls Out Food Delivery Service for Customers in Nairobi's Upmarket Estates
Business

Uber Rolls Out Food Delivery Service for Customers in Nairobi's Upmarket Estates

Taxi hailing firm Uber has rolled out foods’ delivery services in Nairobi as the US-based company continues to cement its presence in the Kenyan Market. Dubbed Uber Eats, the new service will enable consumers to order…

May 30, 2018
Tycoon Chris Kirubi Pledges to Invest in Kisumu in Meeting with Raila
Business

Tycoon Chris Kirubi Pledges to Invest in Kisumu in Meeting with Raila

Billionaire businessman Chris Kirubi has commended opposition leader Raila Odinga over his decision to work with President Kenyatta. Speaking when Odinga visited him at his home in Nairobi on Tuesday, the industrialis…

May 30, 2018
Meet Gideon Muriuki, Kenya's Best Paid CEO at Sh30 Million Monthly Pay
Business

Meet Gideon Muriuki, Kenya's Best Paid CEO at Sh30 Million Monthly Pay

Co-op Bank's Gideon Muriuki has emerged as the best paid Chief Executive Officer (CEO) among his peers leading public listed companies in the country. An annual report by the leading banking institution shows that Mr…

May 28, 2018
Kenyans Warned of Syndicate in Fake Smart Driving Licenses Scam
Business

Kenyans Warned of Syndicate in Fake Smart Driving Licenses Scam

Kenyans have been warned of a syndicate that has been conning the public by issuing them with fake smart driving licenses while posing as Transport officials. In a statement, the National Transport and Safety Authorit…

May 28, 2018
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