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Business

Business

Safaricom Offers Free MPesa Services for 24 Hours as Compensation for Monday Outage

Safaricom has announced that it will offer free MPesa services for 24 hours starting at midnight Tuesday into Wednesday as compensation for a network outage that saw its customers nationwide lose services for several…

Apr 25, 2017
Business

KCB to Retrench 1,000 Employees

Kenya Commercial Bank (KCB) has announced that it has kicked off a process that will see over 1000 employees laid off. The Kenya’s biggest banking group by assets said in a statement that it has offered a voluntary pr…

Apr 22, 2017
Business

Kenya Warned against Shutting Down Internet

Kenya has been warned against Internet shutdown during the elections period as it could face tough consequences from the body that manages Internet addresses in Africa if a new proposal is adopted. The proposal forwar…

Apr 21, 2017
Business

French State Broadcaster Eyes Kenyan Television Market

French state broadcaster France Medias Monde has expressed its interests to enter into the increasingly competitive Kenyan television space. A Kenya Gazette notice published on Friday shows that the French giant broad…

Apr 20, 2017
Business

Kenya Rugby Union Opposes Stiff Taxation on Betting Firms

The Kenya Rugby Union has expressed fears that the 50 per cent taxation imposed on betting firms by the Kenyan government could have a negative impact on sports sponsorships in the country. Kenya Rugby Union Chief Exe…

Apr 20, 2017
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Business

Nairobi Tops Fortune 500 Prized Rating

Nairobi has been named as the most attractive city in Middle East and Africa (MEA) for global Fortune 500 companies, shows a new report. The report that was released by Infomineo, a global business research company th…

Apr 20, 2017
Business

President Uhuru, Governor Kidero Honor 104-Year-Old Pioneer Businessman with 'Keys to the City'

President Uhuru Kenyatta and Nairobi Governor Evans Kidero on Saturday honored pioneer businessman Gerald Gikonyo with ‘Keys to the City’. The ceremony was held at State House, Nairobi to honor the chairman and foundi…

Apr 15, 2017
Business

Michael Joseph Appointed to the Board of a South African Technology Firm

Former Safaricom CEO Micahel Joseph has been appointed to the board of MFS Africa, a South African technology company. Michael Joseph will serve as a non-executive director to help strengthen MFS Africa’s relationship…

Apr 12, 2017
Business

Kenyans Warned to Avoid Investing in Ponzi-Like Schemes

Kenyans have been warned against investing their hard-earned money in Ponzi-like investment schemes. The Central Bank of Kenya together with the Sacco Societies Regulatory Authority (SASRA) say investors in lured into…

Apr 7, 2017
Business

Kidero Presents Pioneering Nairobi Businessman Gerald Gikonyo with Keys to the City

Nairobi tycoon Mr. Gerald Gikonyo was on Thursday honored with Keys to the City by Nairobi Governor Evans Kidero.   Mr. Gikonyo, 104 years old, is a pioneering businessman in Nairobi and co-founder of Rwathia Group of…

Apr 6, 2017
Business

Kenyans Holding Assets Abroad Given until June, 2018 to Declare them

The Kenya Revenue Authority (KRA) has opened an amnesty period to Kenyans holding assets abroad and those who have income abroad to declare the them by one 30th, 2018 and file tax returns for the year ending 2016 and…

Apr 3, 2017
Business

Kenyans 70 and Older to Receive Monthly Stipends, Free Medical Insurance from January 2018

All Kenyan citizens 70 years and older will receive a monthly stipend as well free medical insurance from the government starting in January, 2018, Treasury Cabinet Secretary announced on Thursday. medianet_width='300…

Mar 30, 2017
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Business

Gov't Removes VAT on Maize and Bread, Hikes Betting Tax to 50% in 2017/2018 Budget

The government has intervened to stem the rising prices of maize flour in Kenya by removing Value Added Tax (VAT) and duty free importation of maize for the next four months. The VAT exemption was also applied to brea…

Mar 30, 2017
Business

Facebook Launches Low-Cost Internet Service in Kenya

Facebook has launched low-cost internet service in Kenya. The US-based tech giant, through local partner Surf Kenya, plans to unveil the Express Wi-Fi service nationwide in the next few months. medianet_width='300'; m…

Mar 29, 2017
Business

Dr Patrick Njoroge Named African Central Bank Governor of the Year

Dr Patrick Njoroge, the Governor of the Central Bank of Kenya (CBK) was named the African Central Bank Governor of the Year at the 10th African Banker Awards. Njoroge was lauded for cleaning up the country’s banking s…

Oct 9, 2016
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