BUSINESS NEWS
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Kenya did not make it into the top 20 fastest-growing economies in Africa Outlook 2024 ranking by Economic Intelligence (EIU), despite a projected GDP growth of 5.3%.
In contrast, Tanzania and Uganda, along with Rwanda, the Democratic Republic of Congo, and Ethiopia, were included in the list. The…
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Equity Bank Kenya Limited has introduced a new feature called Boostika Which allows customers to exceed their account balance by up to Sh100,000 in order to carry out transactions like shopping and purchasing airtime.
The introduction of Boostika by the bank means that it will now directly compete…
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Local employees of organizations with diplomatic agreements with Kenya, such as the United Nations, who have previously been exempt from paying taxes will now have Pay as you earn (PAYE) deducted from their monthly salaries by their employers.
The Ministry of Foreign and Diaspora Affairs issued a…
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Starbucks, a well-known coffee chain in the United States, is facing legal action from the National Consumers League.
According to the lawsuit, Starbucks engaged in unethical practices when sourcing coffee from Kenya, Brazil, and Guatemala. The advocacy group argues that the multinational…
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Despite the Central Bank of Kenya (CBK) raising interest rates to combat the weakening local currency, the Kenyan shilling has depreciated at a faster pace than expected.
Following the implementation of more stringent monetary measures on December 5th, the devaluation of the Kenyan shilling in…
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In 2023, Kenya Airways (KQ) achieved the highest punctuality rate among East African flag carriers, surpassing Ethiopian Airlines, which had held the top spot for years.
Cirium, an aviation analytics company, reports that KQ attained on-time arrivals for more than 70% of its 41,905 flights,…
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The Nairobi Expressway toll rates have undergone revisions by the Government, increasing charges for motorists.
Transport Cabinet Secretary Kipchumba Murkomen has officially approved an increase in the fare for travelling from Westlands to Mlolongo. Previously set at Sh360, the new rate now stands…
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According to a recent World Bank report on Kenya's poverty and equity assessment for 2023, the country has experienced notable economic growth in the past decade, surpassing its Sub-Saharan African counterparts.
Kenya has achieved an impressive growth rate of 7.6% despite the obstacles presented by…
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The Competition Authority of Kenya (CAK) has taken action against Carrefour, a French retail chain, for exploiting its influence as a buyer.
After completion of an inquiry, Carrefour has received a fine of Sh1,108,327,873.60 from the Authority due to harassment inflicted on two suppliers, Pwani Oil…
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Kenyan banks have begun increasing the rates on their shilling-denominated loans following the Central Bank of Kenya's decision to raise its benchmark lending rate to an 11-year high.
In a recent development, NCBA Bank has opted to raise its base lending rate from 14.5 per cent to 16.5 per cent.…
