BUSINESS NEWS

The Paradise Beach Resort in Kikambala, Kilifi County has been put up for sale. Owners of the popular hotel are looking to sell the establishment for a staggering price of Sh800 million, according to Nation. Paradise Beach Hotel, which is owned by Israeli nationals, sits on a 20-acre parcel of land…

KLM is set to launch direct flights to Mombasa in October targeting leisure travelers. The move is part of its plan to strengthen its presence in East Africa. The October 31st launch will come a month after the termination of its Africa-Europe joint venture partnership with Kenya Airways (KQ) on…

Billionaire Narendra Raval has revealed plans to invest Sh5 billion in reviving Mumias Sugar Company. The tycoon plans to spend Sh4 billion on upgrading the rundown milling plant while Sh1 billion will be used to woo farmers to return to sugarcane production.  Mumias was Kenya’s leading sugar…

The National Assembly on Wednesday passed a motion seeking to exempt Japanese companies, employees, and consultants from paying income tax. This came after the Parliamentary Committee on Delegated Legislation tabled a report recommending the exemption of Japanese workers and companies from income…

President Kenyatta has invited American Small and Medium Enterprises (SMEs) to invest in Kenya through partnerships with their Kenyan counterparts. Speaking during a virtual US Chamber of Commerce Global Leaders’ Forum on Economic Recovery on Tuesday, Kenyatta said more partnerships between Kenyan…

Uganda has inked a Sh5 billion deal with China Roads and Bridge Corporation (CRBC) to rehabilitate its old meter gauge railway.  Once revamped, the 260-kilometer century-old line will be linked to Kenya’s Standard Gauge Railway (SGR) through the Naivasha to Malaba old meter gauge track, which…

Kenya Airways (KQ) has signed an interline agreement with South Africa’s regional airline Airlink. The deal is expected to boost the national carrier’s reach in the South African region via the cities of Johannesburg and Cape Town The agreement will enable KQ customers traveling to South Africa to…

The Nairobi Hospital has laid off over 200 workers as the facility moved to cut expenditure and clear out staff members implicated in a recent graft audit. In a statement, the privately-owned hospital said the fired workers were found to have either performed dismally or involved in unethical…

The court of appeal has declined to reverse the auction of a property belonging to Atul Shah, the CEO of collapsed retail chain Nakumatt. The property located in Nairobi’s Industrial Area was sold by KCB Bank last November for Sh1.04 billion over a multi-billion-shilling loan Shah guaranteed the…

Kenya Airways (KQ) is set to launch drone operations in the country as part of its plan to diversify income sources. The national carrier signed a memorandum of understanding (MoU) with UK-based logistics company Skyports to collaborate in launching drone services in the country. The move comes…