BUSINESS NEWS

Kenya has issued a new Eurobond worth Sh210 billion ($2.1 billion), the country's third in a period of five years. The loan has been secured following a successful roadshow in the United States and the United Kingdom by National Treasury officials. The bond has been sold in two tranches of 7 and 12…

South Africa has overtaken the United States to become Kenya's second largest foreign investor. South Africa leapfrogged the US to second place following a number of multi-billion shilling deals recently inked by SA firms targeting Nairobi, according to Business Daily. The latest data by the Kenya…

Central Bank of Kenya (CBK) has been accused of manipulating the shilling and overvaluing it by up to 30 percent. The claims have been made by Amana Capital in its latest report dubbed ‘Kenya’s Economic Puzzle - Putting the pieces together’, which suggests that CBK has not been operating a free…

Kenya's giant telecommunications company Safaricom has announced a record profit of Sh63.4 billion in the financial year ending March 31st, 2019. This represents a 14.7 percent increase from the Sh45.1 billion recorded the previous year. The mobile service provider's total revenue also jumped seven…

Safaricom has appeared to confirm reports of CEO Bob Collymore's departure from the company. On Monday, a section of local and international media reported that Collymore would step down from his position in August this year over health reasons. In a statement sent to the press on Tuesday, the…

National airline Kenya Airways has announced a net loss of Sh7.6 billion for the year ending December 31st, 2018. This is an increase from the Sh6.4 billion loss posted in the nine-month period between April 1st and December 31st, 2017. KQ has defended the increase in losses, explaining that…

Safaricom CEO Bob Collymore is reportedly set to leave the telecommunications company before the end of this year. Reuters reports that Collymore, 61, plans to step down in August over health reasons but the company has delayed announcing his successor over the government’s insistence that he must…

Former Kenya Airways Chief Executive Officer Titus Naikuni has been appointed as Tata Chemicals' Director in South Africa. Naikuni, who currently serves as the technical advisor to Tata Chemicals Magadi Ltd. CEO will now serve the interests of the global multinational in Durban. “I am ready to take…

The cabinet has approved a plan to construct an expressway linking Jomo Kenyatta International Airport (JKIA) to Nairobi central business district and Westlands.  The 28-kilometer highway bridge is expected to tackle traffic congestion in the Kenyan capital city. During a visit to Beijing last…

Kenya Airways has activated its codeshare agreement with Delta Airlines, paving the way for seamless travel in the US and Canada. The codeshare gives KQ's business and leisure travelers an opportunity to enjoy greater connectivity in 11 US cities and four Canadian destinations. Under the codeshare…