BUSINESS NEWS

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…

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…

Kenya Airways (KQ) is seeking a $500 million (Sh54.87 billion) bailout from the government to stay afloat in the next nine months. KQ CEO Allan Kilavuka says the funds will be used on the airline’s operations such as salaries, maintenance of planes, and payment of security and utility bills.…

A Canadian company that allegedly signed a Sh139.5 billion 'secret' loan deal with Kenya has been temporarily suspended from trading in the US. Kallo Inc. was suspended by the US stocks market regulator, Securities Exchange Commission (SEC) for failing to explain filings indicating that it inked…

The United Nations (UN) has added Kenya Airways (KQ) to the list of airlines that will ferry COVID-19 vaccines around the world. Its inclusion follows high-level lobbying by the government after the national carrier was left out from the initial list of 15 airlines contracted by the UN to…

Kenyan preacher Pastor Paul Kuria of the Home of Glory Joy Ministry says he runs a dog breeding business venture that earns him handsome income. Speaking during a recent interview with comedian and radio presenter Jalang’o, Pastor Kuria divulged that he breeds Great Dane, a breed of dog from…

Kidato, a Kenyan ed-tech startup, has been accepted into Silicon Valley-based accelerator, Y Combinator’s Winter 2021 group.  The startup will as a result receive $125,000 (Sh13 million) in seed funding and further investment opportunities at a March demo day. Kidato, which was founded last…

The Kenya Railways Corporation (KRC) has taken over some Standard Gauge Railways (SGR) operations from the Chinese company AfriStar. KRC chairman Omudho Awitta told Business Daily that the agency is now in charge of operations such as ticketing, security, and fueling. The move is part of the…

A recent wealth report by Knight Frank indicates that only 475,000 Kenyans are worth $20,000 (Sh2.2 million) and above. The number represents one percent of Kenya’s population, which stands at 47.5 million as per the 2019 national census. Monaco is the leading sovereign land in the world with the…

Kenya and the US are expected to resume negotiations for a free trade agreement (FTA) after a four-month hiatus occasioned by the American presidential election last November. Trade and Enterprise Development Principal Secretary Johnson Weru said the talks will resume as soon as President Biden’s…