BUSINESS NEWS
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Kenya has a total of 330 individuals with a net worth of at least $10 million (Sh1.08 billion), according to the 2020 Africa Wealth report by AfrAsia Bank.
The figure represents a 7.31 percent drop compared to 2019 when the population of billionaires in the country stood at 356.
The drop was…
3
David Muguku, the managing director of The Waterfront Mall in Karen area has refuted reports that the property is up for sale.
“The Waterfront Karen Shopping Mall and its surrounding property remain to be a long-term investment whose main objective is to provide a conducive, safe, environmentally-…
1
Safaricom has formally submitted a bid for a telecommunication license to operate in Ethiopia.
The giant telco announced the move in a notice to its shareholders on Monday, saying it is making the proposal through a consortium.
The consortium is made up of Safaricom and its parent companies…
3
Former Ugandan presidential aspirant Bobi Wine has been ordered to pay USh337 million ($93,000) tax for the bulletproof car he acquired from a Kenyan businessman.
Wine whose real name Robert Kyagulanyi purchased the luxury vehicle last year from Mombasa-based businessman Fauz Khalid, who also…
2
Kenya Airways (KQ) and Congo Airways have signed a two-year partnership agreement in areas of mutual interest.
The signing of the agreement was witnessed by President Kenyatta and his Congolese counterpart Felix Tshisekedi in Kinshasa on Thursday.
The deal will see the two national airlines partner…
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The US has accused corrupt Kenyan public officials of locking out American companies from government contracts.
The US Trade Representative’s office lamented that tender bids in Kenya are often manipulated to benefit a few public officials and their cronies, hence locking out qualified American…
7
Kenya’s tourism sector received a boost after a plane carrying nearly 200 foreign tourists landed at Mombasa International Airport (MIA) on Saturday.
The Ukrainian charter flight with 189 visitors onboard touched the ground at MIA at 9 am and was received by Tourism Cabinet Secretary Najib Balala,…
1
Kenya has revealed plans to auction new oil and gas exploration blocks in its Indian Ocean territory within a year.
The offshore blocks in the Lamu Basin will be put on offer after the collection of seismic data, which is being done by American company ION Geophysical Corp.
The Energy Ministry…
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Kenya Airways (KQ) will suspend passenger flights to the United Kingdom effective April 9th until further notice.
In a statement on Monday, the national carrier said the move follows the government’s decision to ban all flights from the UK starting April 9th.
KQ indicated that it has added two new…
2
The Kenya Revenue Authority (KRA) has exceeded its monthly collection target for the fourth consecutive month even as the country continues to grapple with the adverse effects of the COVID-19 pandemic on the economy.
The taxman was targeting Sh138 billion in March 2021 but netted Sh144.6…
