BUSINESS NEWS

National carrier Kenya Airways (KQ) has launched a new service dubbed “Time to Think.” The product gives KQ customers additional time before making payments for their flight bookings. Under the new service, travelers will be able to book a flight and put the booking on hold for up to three weeks (…

The University of Nairobi (UoN) has doubled fees for parallel degrees and postgraduate courses in a move aimed at making a financial turnaround. The oldest high learning institution in the country is experiencing financial difficulties due to a dip in student enrolment. UoN has seen a 36.2 percent…

Andrew Musangi, the son-in-law of the late businessman Chris Kirubi is poised to take over control of the deceased’s real estate company - Centum Real Estate. Musangi, who is the husband of Kirubi’s only daughter Mary Ann, has reportedly been appointed to the board of Centum Real Estate, a…

The hotel industry in Nakuru County has reaped big from the ongoing World Rally Championships (WRC) Safari Rally Kenya. Hotels in Naivasha, Nakuru, and Elementaita have reported 100 percent bookings courtesy of local and international tourists who arrived to witness the exciting event, according to…

Kenya Revenue Authority (KRA) says more than 3.8 million Kenyans had filed their tax returns as of June 20th. This represents a 20 percent growth compared to 3.1 million returns filed by the same date last year. Grace Wandera, the Deputy Marketing and Communication Commissioner at KRA attributed…

Kenya Airways (KQ) has signed an expanded code-share agreement with US-based Delta Airlines, opening up new destinations for the two airlines. Through its nonstop flights from Nairobi to New York, Kenya Airways is expected to connect to Delta’s services to Washington, offering access to the US…

A company linked to billionaire Manu Chandaria has been placed under receivership over a Sh4.3 billion debt. Kaluworks Limited, which is part of Chandaria’s Comcraft Group was placed under receivership by the NCBA Group over non-payment of the huge debt. The lender has appointed Pongangipalli Rao…

The Capital Markets Authority (CMA) has opened a probe against Cytonn Investments following numerous complaints from investors. The regulator said it is looking into Cytonn High Yield Solutions (CHYS) and Cytonn Project Notes (CPN), which have investments worth Sh13.5 billion. The two funds have…

Kenya Airways (KQ) is slated to resume flights to and from the UK on June 26th after a two-month hiatus. The restart of direct flights between London’s Heathrow Airport and Jomo Kenyatta International Airport (JKIA) follows the lifting of a travel ban imposed by the government of Kenya in April. “…

The World Bank has approved a loan of $750 million (Sh81 billion) to Kenya to support the country’s economic recovery from the COVID-19 pandemic. The international lender said the development policy operation (DPO) loan will help Kenya improve fiscal and debt sustainability through greater…