BUSINESS NEWS

The Kenyan horticulture industry has secured a positive development with the UK's temporary removal of the Global Tariff (UKGT) on cut flowers. This two-year suspension, announced by the British High Commission, aims to streamline and reduce the cost of trade for flower growers across East Africa.…

The Kenyan shilling displayed remarkable resilience against the US dollar on Tuesday, trading at a favourable rate of 127 shillings to the dollar. This positive development marks a significant improvement from its weaker position earlier this year. Commercial banks had quoted the shilling at a less…

The Bank of Kigali (BoK), Rwanda's leading commercial bank, has effectively concluded its operations in Kenya as of April 2, 2024. This decision follows a strategic shift by the bank's parent company Bank of Kigali Group Plc (BK Group) to prioritize digital service delivery channels. The closure…

Kenya's plan to divide the giant telecommunications provider Safaricom and its mobile money arm M-Pesa has encountered a hurdle due to a substantial tax implication. The Central Bank of Kenya (CBK) has revealed that the separation would incur a tax liability of Sh75 billion, stalling the process.…

The Special Economic Zones Authority (Seza), led by CEO Dr Kenneth Chelule, is gearing up for the highly anticipated launch of an auction for Japanese used cars in Naivasha, Nakuru County. This initiative, scheduled to begin on April 24, 2024, promises to revolutionize the African automotive…

The Kenyan shilling's recent appreciation offers a sigh of relief for consumers and businesses alike. As a net importer, Kenya has long grappled with the challenges of a weak currency, which translates into higher import costs. However, the shilling's significant 19% gain in just two months has…

Jomo Kenyatta International Airport (JKIA) has launched a new service known as Airport Mtaani in a move designed to enhance traveller convenience. This initiative streamlines the luggage claim process by allowing passengers to bypass baggage claims entirely and proceed directly to their destination…

The Kenyan government has unveiled an ambitious plan to establish a network of commercial centres around the world, aiming to propel the nation's economic growth and expand its export footprint. This initiative, outlined in the Fourth Medium Term Plan (MTP IV) 2023-2027, stresses the government's…

Kenya Airways (KQ) and Virgin Atlantic have signed a codeshare agreement in a strategic move to bolster their presence in domestic, African, and international markets. This collaborative effort grants Virgin Atlantic the ability to place its code on KQ's London flights. This, in turn, provides…

The Kenyan Shilling has exhibited remarkable strength against the US dollar in recent weeks. This positive development has ignited optimism for a potential economic recovery in Kenya. As of March 19, the official exchange rate stood at 133.99 Shillings per dollar, according to the Central Bank of…