BUSINESS NEWS
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Kenya Revenue Authority (KRA) cannot reportedly trace Sh803 billion repatriated back to the country from offshore accounts by wealthy Kenyans since mid-2016.
On Tuesday, a KRA top official said they are not sure whether the money was used for the intended purpose of development or was wired back…
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Kenya's largest betting company, SportPesa has shut down operations in the country citing hostility from the government.
SportPesa announced the move following its recent taxation and regulatory tussle with the Kenyan government, which saw its license withdrawn.
The bookmaker is protesting the…
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President Kenyatta on Tuesday urged US investors to consider Kenya as their investment destination.
Kenyatta, who spoke at a forum hosted by the American Chamber of Commerce and attended by top executives from leading US multi-nationals, said Kenya has exciting investment opportunities for US…
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Kenya Airways (KQ) is set to sell seven of its aircraft in a sale deal expected to earn the loss-making airline billions of shillings.
The sale of the planes is part of the airline’s efforts to cut its fleet in a bid to strengthen its financial position, Business Daily reported.
In the plan, KQ is…
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Central Bank of Kenya (CBK) suspects that Kenyans holding dirty cash could be buying wheat in a bid to clean it ahead of the September 30th deadline.
Speaking on Tuesday, CBK Governor Dr. Patrick Njoroge said the sudden surge in the number of Kenyans buying wheat using the old Sh1,000 note in…
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Kenya Revenue Authority (KRA) is set to begin monitoring individuals’ Mpesa transactions in a bid to nab tax cheats.
KRA, which is seeking to net 1.9 trillion this year, suspects that some taxpayers who receive their income through mobile money and other online cash transfer platforms such as…
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The government has shelved plans to ban the importation of Chinese fish into the Kenya.
Fisheries Development Principal Secretary Prof. Micheni Ntiba said the move to ban fish imports from China would only create a shortage in the market.
Ntiba indicated that the country will continue to allow fish…
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Kenya’s Jomo Kenyatta International Airport (JKIA) has been rated among the world’s fastest-growing cargo airports.
JKIA has been ranked position two in the category of world airports that handle more than 250,000 metric tons of air cargo.
The Airports Council International (ACI) latest World…
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New York-headquartered software developer training and outsourcing company Andela has announced massive job cuts in Africa.
On Tuesday, the company said it will lay off 170 software developers in Kenya and at least 250 in Nigeria and Uganda.
Andela indicated that the retrenchment targets junior…
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Members of the National Assembly Finance and National Planning Committee have rejected a proposal by National Treasury to repeal the interest rate capping law.
Members of the committee argued that repealing the law would subject Kenyans to expensive credit at the expense of lenders.
National…
