BUSINESS NEWS
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Acting Safaricom CEO Michael Joseph has disclosed he sold off his entire shares in the giant telecommunications operator.
Joseph, who is Safaricom’s founding Chief Executive, owned 1.17 million shares in the mobile service provider company but sold all of them in the course of the financial year…
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Ethiopian Airlines has revealed plans to build a mega airport at a cost of USD5 billion (KSh500 billion).
The construction of the modern facility will commence later this year in Bishoftu, a town located 39 kilometers southeast of Addis Ababa, according to Ethiopian chief executive officer…
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Dozens of Kenyans have lost their jobs after Tsogo Sun, a South African hospitality group, announced the closure of Nairobi’s Southern Sun Mayfair Hotel.
The four-star hotel, which has been in operation in Kenya since 2010, will be closed at the end of this month after sending all its staff…
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President Kenyatta is next week scheduled to officially open the refurbished Kisumu port.
Uhuru will commission the facility that was renovated at a cost of KSh3 billion on Tuesday, according to Kisumu Governor Prof. Anyang Nyong’o.
Operations at the port have already kicked off with MV Uhuru…
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The curtains have finally fallen on Nakumatt after creditors on Tuesday voted to dissolve the former giant Kenyan retail chain.
The liquidation process was approved during a meeting between Peter Kahi, the court-appointed administrator of the troubled supermarket and creditors. 97 percent of the…
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United States technology company, Microsoft has appointed Kenyan Kendi Ntwiga Nderitu as the Country Manager for its operations in Kenya.
In a statement, Microsoft described Kendi as a highly disciplined and IT-driven business leader with over 15 years of experience in the industry. In her new…
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The High Court on Tuesday declined to stop the planned auction of Nairobi’s Jacaranda Hotel, which is owned by the late Kenyan cabinet minister Njenga Karume.
Justice Wilfrida Okwany ordered the hotel to pay Guaranty Trust Bank (GTB) KSh4.5 million as part of clearing the huge arrears it owes the…
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Popular Jacaranda Hotel in Nairobi’s Westlands area is set to be auctioned later this month over a defaulted loan amounting to over KSh250 million.
The high-end hotel, owned by the family of the late powerful Kenyan cabinet minister and politician Njenga Karume, owes Guaranty Trust Bank (GTB)…
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An Angolan court has ordered the freeze of all bank accounts belonging to Africa’s richest woman, Isabel dos Santos in an attempt to recover the money she reportedly owes the government.
Also frozen are all bank accounts of Isabel’s Congolese husband, Sindika Dokolo and their…
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The United States has lost its place as the largest buyer of Kenya’s specialty coffee.
The US, which topped in both quantities and prices offered in the 2017/2018 season, was overtaken by Belgium and Germany, according to the latest data from Kenya’s Coffee Directorate.
The data from the…
