BUSINESS NEWS

More than 800 people are set to lose their jobs in the latest layoff plan by troubled Kenyan supermarket chain, Nakumatt. The retailer's court-appointed administrator, Peter Kahi, said the layoff is part of the rescue plan for the supermarket that almost collapsed under the weight of debt. “As part…

A plastic bags manufacturer has taken the government to court seeking Sh2 billion as compensation for losses it incurred following last year's ban on plastic carrier bags. In the affidavits filed in court, Hi-Plast Limited through lawyer Eddy Orinda argues that the Ministry of Environment should…

Kenya plans to employ a model similar to Colombia’s bus rapid transit in Bogota to end Nairobi's traffic jam menace. This will see special lanes for high-capacity buses constructed in latest efforts to decongest roads in the city. Neighboring country Tanzania has already implemented the bus rapid…

Kenya has expressed optimism that the United States direct flights plan will boost the country's tourism industry. Kenya Airways (KQ) is set to fly its maiden direct flight to the US on October 28th, effectively cutting travel time between Nairobi and US. Speaking during an interview with Daily…

The Central Bank of Kenya (CBK) has sold 103-acre land belonging to former presidential aspirant Cyrus Jirongo for Sh53 million in an attempt to recover a loan he owes collapsed Dubai Bank. At the time of its collapse, the former Lugari MP had borrowed Sh495 million from the bank through his three…

A firm associated with Kenyan billionaire business mogul Chris Kirubi is planning to build a 'super' school in Nairobi's Runda estate at a cost of Sh2 billion. Investment company Centum Ltd has signed a deal with Beirut- headquartered Sabis Education Network to build the institution.Sabis has a…

The National Transport and Safety Authority (NTSA) has announced that it will begin issuing drivers' with the much awaited Smart Driving Licenses in April this year. The digital licenses are set to have an electronic chip that will capture the holder's data; including Kenya Revenue PIN, Identity…

United States fast-food restaurant Hardee’s will in March open its third branch in Kenya. The new outlet will be located at Two Rivers Mall; its launch coming only a month after it unveiled its second outlet in the country, along Westlands Road. Rohit Gambhir, the burger chain's general manager in…

Traders at Nairobi's Burma market will have to bear the brunt of government's crackdown on use of plastic bags after the National Environment Management Authority (Nema) ordered for its shutdown. The environment watchdog on Thursday said the decision to close the joint was informed by what it…

Kenyans will now be able to purchase apps from the play store using M-Pesa after Google approved the use of the mobile money platform to make payments. The payment option, which was approved on Monday, makes Google Play one of the first global e-commerce platforms in to adopt MPesa. “Carrier…