BUSINESS NEWS
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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 System- Global opens the opportunity for Kenya to actualize the dream of having…
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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 Africa a funding of Sh160 million which they will use to develop electricity…
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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, Switzerland will be returning the assets that were looted from Kenya once the court…
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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 Lokichar basin in Turkana County.
According to the firm, the two wells had shown…
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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 States.
In a campaign led by Tourism Cabinet Cecretary Najib Balala, a series of…
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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 already operates daily flights to Nairobi and has named Mombasa as one of the 12…
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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 reason for this review.
An Economic Update by the bank further shows that the rise…
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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 hours on Monday.
During the outage millions of Safaricom’s customers had no access…
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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 program for its workers who are considering early retirement as the bank kicks off…
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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 forwarded by some members of the African Network Information Centre (AFRINIC) would deny…
