BUSINESS NEWS

Kenyan business mogul Chris Kirubi pocketed €6.3 million (Sh714 million) from the recent sale of one of his companies, Forbes reports. The US business magazine reports that the billionaire businessman earned the amount from the sale of BIC brands East Africa franchise to French conglomerate Société…

President Kenyatta and his French counterpart Emmanuel Macron have announced several public-private infrastructure deals worth 3 billion euros (about Sh340 billion). The railway line is expected to ease the movement of people between Nairobi CBD and JKIA, which can take up to two hours by car due…

Kenya Airways (KQ) says it suffered losses amounting to Sh300 million following aviation workers' strike on Wednesday. The strike called by the Kenya Aviation Workers Union (KAWU) entirely paralyzed operations at the Jomo Kenyatta International Airport (JKIA). Thousands of travelers who had booked…

American television star and makeup guru Kylie Jenner has been named world's youngest billionaire. The 21-year-old socialite and entrepreneur made it to the Forbes Magazine's 2019 billionaire list released on Tuesday. The Los Angeles-born model, who has entered billionaire's club for the first time…

Kirinyaga Governor Anne Waiguru has signed a deal with an American firm to set up of a coffee shop in New York City. Governor Waiguru says that the agreement will allow Kirinyaga coffee farmers to sell their produce directly to the American market. Waiguru says the New York-based firm…

Amazon has launched a service that allows Kenyan shoppers to pay for goods in cash. Under the new service, Kenyan e-commerce customers will pay for items in cash at any Western Union outlet near them. The service dubbed, Amazon PayCode, has been launched in Kenya (Africa) and nine other countries…

Members of Parliament have threatened to block Central Bank of Kenya (CBK) Governor Dr. Patrick Njoroge's reappointment to the position. The MPs accuse Njoroge of enacting stringent banking regulations, especially on bulk transactions. Led by National Assembly Majority Leader Aden Duale and his…

The Postal Corporation of Kenya (PCK) has struck a partnership deal with US-based logistics company Seagate to offer doorstep delivery services to Kenyans. The partnership allows Kenyans to buy items from international e-commerce companies and have them delivered to their doorsteps. Under the deal…

The government has lifted a ban imposed on fish imported from China. A ban on fish imports from the Asian country took effect in November last year after President Kenyatta's directive. This came after local traders complained to the President that cheap Chinese fish that had flooded the Kenyan…

Nairobi's InterContinental Hotel is reportedly on the verge of being auctioned over a debt amounting to hundreds of millions. The Daily Nation reports that the luxury hotel located in Nairobi central business district is broke and is currently burdened by liabilities that outweigh its income.…