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Business

President Uhuru Secures Sh359 Billion from China for Standard Gauge Railway Extension to Kisumu
Business

President Uhuru Secures Sh359 Billion from China for Standard Gauge Railway Extension to Kisumu

President Uhuru Kenyatta has negotiated an additional $3.59 (Sh359 billion) billion grant from China to facilitate the extension of the Standard Gauge Railway (SGR) from Naivasha to Kisumu. The head of state secured t…

May 16, 2017
Business

US-Based NGO Petitions 'Mitumba' Ban by Kenya and EAC

A US-based lobby group has filed a petition with American trade authorities challenging Kenya’s plan to band second hand clothes imports, commonly known as mitumba. East African Heads of State in 2015 agreed to work o…

May 16, 2017
Mexico Denies Selling Maize to Kenya
Business

Mexico Denies Selling Maize to Kenya

In a fresh twist of events surrounding the importation of maize in Kenya to ease the current shortage, the Mexican Government denied exporting 30,000 tonnes of the grain to Kenya. The Mexican embassy in Kenya in a sta…

May 16, 2017
Business

BBC to Set Up Sh1 Billion MultiMedia Production Studio in Nairobi

The British Broadcasting Corporation (BBC) has announced that it will be investing nearly $10 million (Sh1 billion) to construct an Ultra-modern multimedia production studio in Kenya’s capital, Nairobi. The firm will…

May 14, 2017
Safaricom Launches New 'M-Pesa 1 Tap' Splution
Business

Safaricom Launches New 'M-Pesa 1 Tap' Solution

Kenya’s leading Mobile services provider Safaricom has launched tests on a new M-Pesa tool that aims at cutting the transaction process from eight steps to just one. The new technology dubbed M-Pesa 1 tap makes use of…

May 11, 2017
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Trump's Aid Cuts to Hurt Kenya
Business

Trump's Aid Cuts to Hurt Kenya

A proposal by President Donald Trump to have the United States reduce its foreign aid by 30 per cent will see deeper cuts in aid to Kenya. The United States this week suspended aid funds to the Ministry of Health over…

May 11, 2017
Business

Safaricom Net Profit Rises to Sh48 Billion, to Pay Out Sh38 Billion in Dividends

Kenyan telecommunications giant Safaricom on Wednesday announced a Sh48 billion net profit for the fiscal year ending March 31st, 2017, which was a 27 percent increase over the previous year. Gross revenue stood at Sh…

May 10, 2017
Business

Kenya Commercial Bank to Close South Sudan Branches

Kenya Commercial Bank (KCB) will be closing several of its branches in war tone South Sudan as a result of deflation of the country’s currency, persistent civil war and run-away inflation that dwindled the bank earnin…

May 7, 2017
Business

Kenya Airways Hires Polish CEO to Spearhead Recovery

Kenya Airways has hired a Polish to spearhead the national carrier’s reversal plan following a series of hard times experienced by the carrier. Sebastian Mikosz will take over the mantle of leadership for the carrier…

May 6, 2017
Business

Dubai, the 'Playground' for Kenyans

Dubai has been named one of the leading destinations of choice for more than 15 million visitors annually owing to its magnificent structures; shopping malls and other tourists’ attraction sceneries and Kenyans have n…

May 6, 2017
Business

Direct Flights to US to Boost Kenya's Flower Exports

The Kenya Flower Council (KFC) is positive that the transport costs for flowers will lower by half with the nodding of direct flights between Kenya and the United States. Cargo flights which ship flowers to America fr…

May 4, 2017
Business

NGO Oversight Body Freezes Kalonzo Musyoka Foundation's Accounts over Unaccounted Sh146 Million in Donor Funds

Kenya’s Non-Governmental Organization Coordination Board has suspended the operations of Kalonzo Musyoka Foundation and frozen the NGO’s bank accounts. The Board’s Executive Director, Fazul Mohamed in a letter dated M…

May 2, 2017
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Business

Kenya Foreign Affairs Cabinet Secretary Woos US to Strengthen Trade Ties With Kenya

Kenya Foreign Affairs Cabinet Secretary Amina Mohamed has embarked on a campaign aimed at strengthening ties between Kenya and the United States of America. Amina campaigned to have the US help Kenya improve its econo…

May 1, 2017
Business

Kenya-US Security Pact Advances Plans for Direct Flights

A Memorandum of Understanding (MoU) that seeks to strengthen the security of Kenya and the United States through the exchange of passenger information has been signed between the two nations. The Automated Targeting S…

May 1, 2017
Business

US State Agency in Pact to Fund Kenya Power Projects

The US Government has improved funding to Kenya’s energy sector following a pact entered between the two countries’ power producers. The US, through US Trade and Development Agency (USTDA) has given KenGen and Xago Af…

Apr 29, 2017
Switzerland Recovers Sh200 Million Anglo Leasing Loot, to Refund to Kenya
Business

Switzerland Recovers Sh200 Million Anglo Leasing Loot, to Refund to Kenya

The Swiss government has announced that it will be confiscating assets worth Ksh200 million related to the Anglo-Leasing Scandal that saw Kenya lose billions of money. According to the Swiss Ambassador Ralf Heckner, S…

Apr 29, 2017
Business

Kenya Discovers More Oil

A company contracted by Kenya to drill oil in Turkana, Tullow Oil has announced that it has discovered more oil in two new wells. The discovery is likely to increase the predicted recoverable oil from the South Lokich…

Apr 28, 2017
Business

Kenya Woos Top US Cruise Line in a Bid to Attract American Tourists to the Country

Kenya has embarked on a campaign to woe a California-based operator of luxury cruise ships, Princess Cruises to consider making Mombasa a home port for its vessels in a move aimed at tapping tourists from United State…

Apr 27, 2017
Business

Qatar Airways to Launch Direct Flights to Mombasa

Middle-East giant airline, Qatar Airways will be launching direct flights Doha and Kenyan coastal city, Mombasa. The move will increase domestic competition for national carrier Kenya Airways. The Middle East carrier…

Apr 27, 2017
Business

World Bank Projects Kenya Economy to Grow at 5.5 Percent

The World Bank projects the Kenyan economy to grow at 5.5 percent in 2017; this is down from 6 percent it had initially estimated. The World Bank cites the ongoing drought and slowdown in private sector credit as the…

Apr 25, 2017
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