BUSINESS NEWS

The fiscal policy proposals of the Kenya Kwanza administration have faced criticism for their heavy reliance on taxation as a means of generating revenue. At Bomas of Kenya, the National Dialogue Committee convened an open discussion on the rising living costs with economic experts as panellists.…

The Kenya Revenue Authority (KRA) has provided further clarification regarding the taxation of goods brought into the country by passengers returning home. KRA has issued a revision to its previously declared statement that all goods worth Sh75,000($500) and above will be under taxation. In an…

According to the Central Bank of Kenya (CBK), the demand for foreign exchange in Kenya has consistently exceeded the supply, resulting in the depreciation of the Kenya Shilling. This depreciation has led to the currency crossing the Sh150 mark against the US dollar. Kamau Thugge, Governor of the…

Consumers are expected to face further financial distress as the Kenyan Shilling is projected to exceed Sh 160 against the dollar. Last week, Increased demand for the dollar resulted in a significant drop in the value of the shilling despite government efforts to stabilize it. Traders currently…

Nairobi's Kenyatta International Convention Centre (KICC) has emerged as the top choice for business events in Africa, clinching the prestigious World Travel Awards (WTA) five years in a row. KICC has triumphed over formidable foes from Nigeria, Ghana, Rwanda, Egypt, and South Africa to claim the…

The International Monetary Fund (IMF) has commended Kenya for its decision to join the Pan-African Payments and Settlement System (Papps), viewing it as a positive step towards addressing foreign exchange challenges in emerging markets. Kenya officially became a member of Papps on September 29,…

The Directorate of Criminal Investigations recently announced that they had seized over Sh 13 million from a residence in Ngara where bhang (marijuana) was being sold. Along with this, authorities had allegedly detained Mathe wa Ngara but later found out that it was a case of mistaken identity.…

Workers at the Del Monte fruit processor in Murang'a County are expressing their dissatisfaction as the company begins to implement reduced working days for its casual labourers in order to reduce costs. A memo circulated among employees stipulates that each casual worker would now work an average…

Kenya Airways (KQ) confirmed on Monday evening that one of its flights travelling from London, United Kingdom, to Nairobi, Kenya, had to turn back due to a passenger experiencing a "medical emergency". The flight had already covered a significant portion of the journey from London's Heathrow…

Kenya will require all visitors, irrespective of their length of stay, to purchase local health insurance. The insurance industry is expected to benefit significantly from a new requirement directing all visitors coming into the country to secure travel health insurance owing to the annual influx…