BUSINESS NEWS
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Kenya Revenue Authority (KRA) Chairperson Amb. Francis Muthaura has called for the imposition of a ban on importation of second-hand clothes into Kenya.
Muthaura says imposing a ban on importation of mitumba will help promote the country's struggling textile industry.
"Ours is a dumping…
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Leading digital money transfer service WorldRemit has joined forces with NIC Bank for digital money transfers to Kenya.
Kenyans living in over 50 countries, including the United Kingdom, the United States and Canada, can now send money directly from their phones to 130,000 NIC Bank Retail accounts…
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International companies with regional headquarters in Nairobi have pledged to remain in Kenya despite Tuesday's terror attack at dusitD2 complex along 14 Riverside Drive in Westlands.
The companies say the attack will not scare them into exiting East Africa’s business hub.
“We are very committed to…
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Safaricom CEO Bob Collymore says more than 1 million Mpesa subscribers have used the company's overdraft service that was launched more than a week ago.
Speaking to Reuters, Collymore says the service dubbed Fuliza or Kopa Mpesa has exceeded the company's expectations.
The service, which was…
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Bharti Airtel has reportedly initiated discussions aimed at buying out Telkom Kenya.
The deal, which is expected to be struck by March 2019, will see Helios Investment, a London-based company that owns 60 percent stake at Telkom relinquish 20 percent of its shareholding to enable Airtel to acquire…
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The Energy Regulatory Commission (ERC) has announced reduced fuel prices in the latest review that comes as a major relief for consumers.
In an announcement made on Monday, the agency has reduced the prices of petrol and diesel by Sh9.53 and Sh10 respectively while that of kerosene has fallen by…
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Nigerian billionaire, Aliko Dangote has retained his crown as Africa's richest man even as no Kenyan made it to the top 20 list released by Forbes Magazine.
The continent’s rich list features individuals from eight African countries who are worth more than $1 billion.
The United States…
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Governor Mike Sonko has ordered reduction of Nairobi central business district parking fees to Sh200 starting Monday, January 14th, 2019.
Governor Sonko says the slashing of the fees from the current Sh300 is in line with his campaign promises to city residents during 2017 elections.
“I’m calling…
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Commercial Bank of Africa (CBA) has tabled a bid to acquire Jamii Bora Bank in a move that could further expand Kenyatta family's multi-billion-shilling business empire.
The Business Daily reports that the Kenyatta family business has submitted an offer of Sh1.4 billion for 60 percent stake at…
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Kenyan giant telecommunications firm, Safaricom has launched an overdraft service for its Mpesa customers.
Dubbed Fuliza or Okoa Mpesa, the facility allows Mpesa users to send money or pay for goods and services even when they don't have enough cash in their accounts.
Under the new service, Mpesa…
