BUSINESS NEWS

The proposed Finance Bill, 2024, aimed at amending tax laws and revenue-raising measures has ignited a firestorm of public discontent in Kenya. As the nation's legislators prepare to deliberate the bill's fate, a resounding chorus of disapproval has erupted, with citizens voicing their concerns…

The Kenyan National Treasury has abolished the Sh100,000 cap on annual motor vehicle tax in a significant policy shift aimed at expanding the tax base. The announcement was made by Treasury Cabinet Secretary Prof Njuguna Ndung'u during the budget presentation for the 2024/25 financial year, marking…

President William Ruto's administration has unveiled an ambitious initiative to reshape state agencies by divesting government ownership in various companies. This strategic plan involves selling shares in six key institutions, signalling a shift towards fiscal responsibility and sustainable growth…

The recent directives from President William Ruto regarding the height restrictions for high-rise buildings in Eastleigh, Nairobi, have sparked confusion and raised concerns among developers in the area. The contradictory statements from the president have cast doubt on the transparency and…

The once-dormant Kisumu Port on the shores of Lake Victoria is set to experience a renaissance, thanks to the visionary Kisumu Port Resilient Infrastructure Project spearheaded by the Kenya Ports Authority (KPA). This ambitious initiative aims to transform the port into a vibrant hub for both…

The Kenyan government has assumed the responsibility of servicing a substantial loan originally taken by the national carrier, Kenya Airways (KQ). The loan, amounting to $641.49 million (Sh83.4 billion), was provided by US lenders Citi Bank and JP Morgan in 2017 and was intended to finance the…

Etihad Airways has indefinitely delayed the resumption of its direct flights from Abu Dhabi to Nairobi. This announcement follows the airline's inability to initiate the flights on June 1, 2024, as previously scheduled. These non-stop connections were expected to facilitate seamless travel for…

Macadamia nuts, often referred to as "nature's gold," have become a prized commodity globally, celebrated for their rich flavour, creamy texture, and numerous health benefits. Kenya, a key player in macadamia production, has witnessed remarkable growth in this sector with the country's annual…

The Ruto administration in Kenya finds itself entangled in a complex web of fiscal challenges with revenue collection a formidable obstacle. The World Bank's recent warning about unrealistic revenue projections and their potential impact on spending plans has cast a spotlight on the nation's fiscal…

Brussels Airlines has made a triumphant return to Nairobi after a hiatus of nearly a decade. Their return is spurred by Kenya's burgeoning corporate landscape and revitalized tourism sector. The Belgian national carrier, a member of the esteemed Lufthansa Group and Star Alliance, touched down at…