BUSINESS NEWS

Kenya Airways (KQ) has responded to Deputy President Rigathi Gachagua’s claims that the airline is under State capture. Gachagua, who spoke in an interview with Citizen TV on Sunday, blamed the national carrier’s financial woes on bad contracts allegedly entered into to benefit a few individuals in…

The government has lifted the ban on Genetically Modified Crops (GMO) that has been in existence for 10 years. The decision to lift the 10-year ban was arrived at during a Cabinet meeting chaired by President Ruto at State House, Nairobi on Monday, which sought to assess progress in the national…

The Orange Democratic Movement (ODM) party is worth Sh10 billion, making it the richest political outfit in Kenya. Citing ODM’s latest disclosures, Nation reported that the Raila Odinga-led party’s value grew by 12.4 percent from Sh8.9 billion last year. 96 percent of its value (Sh9.62 billion) is…

Overdraft service Fuliza has cut daily charges by up to 40 percent in a move aimed at encouraging the increased use of the product.  Daily maintenance fees for overdrafts ranging between Sh101 to Sh500 and between Sh501 to Sh1,000 have been slashed by 40 percent to Sh3 and Sh6 respectively…

The United States has overtaken Uganda to become the largest market for Kenyan goods, according to a report by Business Daily. Citing official data, the publication reported that Kenya’s exports to the US grew by 47 percent to Sh38.8 billion in the first half of the year, ending Uganda’s 10-year…

President Ruto has promised a business-friendly policy to spur Foreign Direct Investments (FDI) from the United States. The president made the commitment at a high-level business roundtable in New York City hosted by the U.S Chamber of Commerce on trade and investment relationships between Kenya…

President Ruto has called for urgent measures to address Kenya’s poor saving culture. Ruto, who assumed office as Kenya’s fifth president on Tuesday, observed that Kenyans have saved about Sh1.5 trillion which is lower than that of neighboring Uganda. “Kenya is the country with the least saving…

A new report has ranked Nairobi among the cities with the highest number of dollar millionaires in Africa. The Kenyan capital has a total of 5,400 High-Net-Worth Individuals (HNWIs) whose wealth is over $1 million (Sh120 million), according to the 2022 Henley Global Citizens Report for the third…

Kenya is currently seeking a placeholder trade partnership with the United States as negotiations for a fully-fledged free trade agreement (FTA) continue between the two countries. Outgoing Trade Cabinet Secretary Betty Maina said she expects the new administration under President William Ruto to…

The United States has maintained its position as the leading source of international tourists to Kenya, according to the latest report. The report released by Tourism Cabinet Secretary Najib Balala on Friday shows that the country received 924,812 international visitors between January and August…