BUSINESS NEWS

President Ruto has defended allowing Elon Musk's Starlink satellite internet company to enter the Kenyan market. At the Kenya Business and Investment Roundtable in New York, President Ruto emphasized that Starlink's introduction has fostered healthy competition within the country's…

Kenya has made a notable stride in its international economic relations by finalizing a Double Taxation Agreement (DTA) with Singapore. This accord, reached during the United Nations General Assembly, marks Singapore as the 50th nation to establish such an arrangement with Kenya. The agreement aims…

The transition to electric tuk-tuks in Mombasa is gaining momentum, heralding a green revolution in the city's transportation sector. Stakeholders are urging the county government to create an enabling environment to facilitate this shift, as the current infrastructure is deemed insufficient to…

The Kenyan government has entered into several secret, high-value deals with the Indian conglomerate Adani Group and other entities which have raised concerns among Kenyans. At the centre of the debate is a proposal for the Adani Group to operate Jomo Kenyatta International Airport (JKIA) under a…

Recent reports suggest a promising outlook for the Kenyan shilling against the United States dollar in the coming days. Traders have expressed optimism regarding the forex market with Reuters noting that the shilling maintained broad stability throughout most of the week and is anticipated to make…

A Turkish investor has established a new lounge at the Moi International Airport (MIA) in Mombasa, aiming to capitalize on the increasing number of passengers passing through the airport. The Bosphorus Lounge, spanning an impressive 10,000 square feet and capable of accommodating up to 150 guests,…

Kenyan whistleblower Nelson Amenya residing in France has raised concerns regarding his safety following his public disclosure of a controversial deal involving the Indian conglomerate Adani Group and Nairobi's Jomo Kenyatta International Airport (JKIA). Speaking on X on Sunday, Amenya expressed…

Treasury Cabinet Secretary John Mbadi has unveiled an ambitious plan to reduce taxes over the next three years, aiming to alleviate the financial burden on Kenyan citizens. The plan, which includes lowering the Value Added Tax (VAT) from 16% to 14% and reducing corporate tax from 30% to 25%, was…

Ugali lovers can soon enjoy affordable servings as maize prices sharply decline due to the current harvest and the influx of low-cost produce from East African Community countries. The price of maize has plummeted from a staggering Sh4,600 to a more affordable Sh2,200 per 90-kilogram bag in certain…

The Kenyan shilling demonstrated remarkable stability during the week of August 26 to August 30, 2024, maintaining a consistent exchange rate of 129.25 against the US dollar. This steadiness is attributed to a balanced equilibrium between dollar demand and supply, coupled with strategic…