BUSINESS NEWS

Kenya Airways (KQ) has announced the suspension of its flights to Kinshasa, the capital city of the DRC. This decision, slated to take effect from April 30, 2024, is a direct consequence of the ongoing detention of several Kenya Airways employees by the Military Intelligence Unit in Kinshasa. The…

The recent Global Youth Development Index (GYDI) for 2023 sheds light on Kenya's position in youth employment opportunities. While commendable efforts have been made by the Ruto administration to address unemployment, Kenya falls behind many of its East African neighbours. Although Kenya surpasses…

The Kenyan economy is currently navigating a period of heightened volatility in the foreign exchange market with the Shilling's performance directly impacting lending rates. This interplay between currency value and borrowing costs highlights the intricate relationship between micro and…

A months-long dispute between Kenya and Uganda in 2023 significantly impacted cargo movement through Mombasa Port. This rift decreased over 200,000 metric tonnes of cargo transiting through the port compared to the previous year. Notably, Uganda, historically the leading contributor to Mombasa's…

Kenya's tourism sector is facing friction between the government and hoteliers. Cabinet Secretary Alfred Mutua's recent criticism of hotel rankings has caused unease within the industry. Hoteliers fear these pronouncements will damage the reputation of an already struggling sector. Hotelier…

The concept of taxation has a long history dating back to ancient civilizations. In Kenya, a more formal tax structure emerged during the colonial era with the Income Tax Act of 1973 establishing the current framework. Recent years have seen a focus on modernization with initiatives like the iTax…

Heavy rains have caused water levels at Masinga Dam, Kenya's largest hydropower reservoir, to surge past capacity. This presents both an opportunity and a challenge for the country. On the positive side, the increased water volume has led to a significant, 14% decrease in electricity generation…

The Kenya Defence Forces (KDF) established the Defence Forces Canteen Organization (DEFCO) in 1973, initially known as the Armed Forces Canteen Organization (AFCO). Over the past five decades, DEFCO has grown into a critical resource for KDF personnel and their families stationed across the country…

A recent report by the McKinsey Global Institute sheds light on the landscape of large companies in Africa. Kenya emerges as a front-runner in East Africa, boasting six companies generating over Sh130.5 billion (USD1 billion) annually. This positions Kenya well within the continent where Kenya's…

Kenyan cleantech startup SunCulture has secured significant funding with a portion coming from two former CEOs of global tech giants. This investment reflects the growing importance of innovation in tackling food security challenges in Africa. SunCulture's core mission is to empower small-scale…