BUSINESS NEWS

Kenya Airways (KQ) has launched a training course for aspiring drone pilots as part of its plan to diversify its revenue streams in the wake of reduced passenger demand. The training program offered by the national carrier through its Fahari subsidiary targets those interested in operating drones,…

Kenyatta International Convention Centre (KICC) could loss some of its assets over a Sh450 million tax debt owed to Kenya Revenue Authority (KRA). In her 2018/2019 report to parliament, Auditor-General Nancy Gathungu says the State corporation’s failure to pay the huge tax arrears may attract…

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…