BUSINESS NEWS

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…

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…

Kenyan giant betting company SportPesa has revealed plans to expand its operations to South America. The gaming firm is now eyeing a share of the Sh1.44 trillion gambling market in Brazil after the South American nation amended its laws to allow online and on-land betting. SportPesa Chief Executive…

Kenya Airways has submitted a formal bid to the Kenya Airports Authority (KAA) seeking approval to take over management of Nairobi's Jomo Kenyatta International Airport (JKIA). KAA managing director Jonny Andersen says the agency will review the application and grant Kenya Airways the request if it…

Kenyans transacted a record Sh2 trillion through mobile money transfer platforms in a period of three months. In a report, the Communications Authority of Kenya (CA) says Kenya's mobile cash transaction value hit above Sh2 trillion between the month of July and September 2018. Within the period…

Chinese fish being sold in the Kenyan market have been found to contain toxic compounds that are harmful to human health. A laboratory test commissioned by The East African Newspaper has revealed that samples of fish imported from the Asian country are contaminated with heavy metals, hence unsafe…

Kenyan retail chain, Nakumatt has announced re-opening of Nakumatt Mega branch on Nairobi's Uhuru Highway. The retailer, which is currently under administration, exited the space in September and space was occupied by Ivory Lifestyle clothing store. The Nakumatt Mega branch is set to be the…

The National Environmental Management Authority (Nema) has issued a notice for the closure of Nairobi's popular goat slaughterhouse, Kiamaiko. The Star reports that the agency has issued a one-year notice to traders to vacate the famous market, saying that it doesn't meet the set environment and…

Kenyan online shoppers can now pay for products purchased from Amazon using the Kenyan shilling, the giant American electronic commerce company has announced. The Washington-headquartered firm says that shoppers who choose to use Kenyan shillings to pay for items purchased will not be required to…

The Central Bank of Kenya (CBK) on Friday unveiled Kenya's new-look coins that conform to 2010 constitutional requirements. The new generation currency coins were launched by President Kenyatta at CBK headquarters in Nairobi. “The new coins, which are now legal tender, were issued today via a…