BUSINESS NEWS

New premier Kenyan business platform called NaiGate launched to create market access for businesses and service providers —including freelancers— both in Kenya and in the diaspora. NaiGate was recently featured on KTN News and Nation Media Group’s Business Daily Newspaper (links below). The…

Kenya Airways (KQ) says it has formally withdrawn its Privately Initiated Investment Proposal (PIIP) seeking to take over the operations of Jomo Kenyatta International Airport (JKIA). The proposal, which was submitted to Kenya Airports Authority (KAA), Public-Private Partnership Committee (PPP) and…

Giant betting company SportPesa has announced it will resume operations soon after it was cleared by Kenya Revenue Authority (KRA). In a statement on Tuesday, SportPesa said had positive engagement with the government and was looking forward to resuming operations soon. "Our sessions with…

Acting Safaricom CEO Michael Joseph hinted at an extended stay at the helm of the giant telecommunications company. Speaking to the media on Friday, Joseph described Safaricom as “my company”, stating that he would remain in the company as long as it is necessary. “Personally, this is really my…

Kenya Airways (KQ) recorded a pretax loss of Sh8.56 billion in the half-year ended June 30th, 2019. This is an increase by more than double from Sh3.9 billion loss the airline posted in the same period last year.  KQ’s cumulative revenue expanded to Sh58.5 billion, a 12 percent growth from…

President Kenyatta on Saturday threw his weight behind the proposal to totally ban gambling in Kenya. Speaking at the 60th-anniversary celebrations of CITAM Church in Karen, Nairobi, Kenyatta said he supports the idea to completely shutting the gambling sector in the country but has no powers to do…

President Kenyatta is on Monday slated to flag off the shipment of Kenya’s maiden consignment of crude oil at the port of Mombasa. The 200,000 barrels of crude oil will be exported by Chinese company ChemChina UK Limited, which won the tender to purchase the first Kenyan oil early this month. Last…

US technology company, Google has warned that Kenya’s plan to impose tax on digital transactions could spark trade wars with other countries. Google told Members of Parliament that the State’s bid to introduce amendments to the Finance Bill 2019 to slap online businesses with an income tax…

Keroche Breweries Limited CEO Tabitha Karanja was on Thursday evening arrested over allegations of tax evasion. Detectives from Directorate of Criminal Investigations (DCI) picked Mrs. Karanja and her husband Joseph from their company in Naivasha, Nakuru County. The two were apprehended a day after…

Kenyans returned at least Sh25 billion to banks following Central Bank of Kenya’s move to phase out the old Sh1,000 notes by October 1st. Latest data from Central Bank of Kenya (CBK) showed that the total amount of cash outside of banks reduced from Sh222 billion to Sh196 billion in the month of…