BUSINESS NEWS

The Capital Markets Authority (CMA) has announced the extension of the share trading freeze on Kenya Airways (KQ) for a further 12 months. In a statement on Wednesday, the capital markets regulator said the extension is meant to allow the airline to complete its operational and corporate…

The iconic Hilton Hotel in Nairobi’s central business district has shut its doors permanently after 53 years of operation. In April last year, International Hotels Kenya Limited which manages the hotel announced the facility would cease operations on December 31st. “Following extensive discussions…

The United States has retained its place as the largest source country for international visitors to Kenya, accounting for 14.4 percent of all arrivals recorded between January and November. Kenya received a total of 1,321,887 international visitors during the January-November 2022 period, a 74.5…

Kenya Airways (KQ) has resumed daily nonstop flights between Nairobi and New York City amid growing demand for travel on the route during the festive season. The national carrier has grappled with a fluctuating demand on the route since the onset of the Covid-19 pandemic in early 2020, forcing it…

The International Monetary Fund (IMF) says it is monitoring challenges in accessing the US dollar in Kenya in a bid to determine the reasons behind the crisis. IMF said the availability of dollars in the forex interbank market has dried up, forcing banks to seek dollars from clients and resulting…

The International Monetary Fund (IMF) has approved a $447.39 million (Sh55.1 billion) loan to Kenya for budgetary support. This is the fourth tranche of the $2.34 billion (Sh288 billion) 38-month-long loan facility which was approved in April last year to support Kenya’s program to address debt…

President Ruto has confirmed he met officials of Delta Air Lines during his visit to the US, where he launched a bid to sell a controlling stake in Kenya Airways (KQ). Ruto, who was in Washington, DC for the US-Africa Leaders’ Summit hosted by President Biden between December 13th and 15th, held a…

President Ruto will seek strategic foreign investors to buy a controlling stake in Kenya Airways (KQ) during his current trip to the United States, Transport Cabinet Secretary Kipchumba Murkomen has said. Murkomen said this is part of the Kenya Kwanza administration’s plan to turn around the loss-…

President Ruto on Wednesday launched the first phase of the Hustlers Fund, one of the key campaign pledges of the Kenya Kwanza administration. To access cheap loans under the Hustlers Fund, Kenyans will only need to dial *254# or use the mobile app platforms of mobile network operators, Safaricom,…

Pubs, Entertainment, and Restaurant Association of Kenya (PERAK) has said the recent ban on nightclubs in Nairobi will lead to massive job losses. The association warned that at least 23,000 full-time and temporary workers earning over Sh880 million per month will be rendered jobless after Nairobi…