BUSINESS NEWS
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Swiss authorities have reportedly frozen more than $2 million (Sh201 million) suspected to be proceeds of corruption in Kenya.
The cash is part of the more than Sh96 billion allegedly stashed in Swiss bank accounts by graft lords. The freezing is part of Kenya-Switzerland continued efforts in…
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The head of the United States government agency that helps private businesses invest in developing countries is wooing Kenya to award the contract for construction of Sh300 billion Nairobi-Mombasa expressway to American engineering firm Bechtel.
Ray Washburne, the President and CEO of the US…
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Four Kenyan tech start-ups are set to battle for Sh5 million funding from American multinational financial services corporation Visa.
The four, M-Changa, Mookh, WayaWaya and LipaPlus are among 12 finalists selected from 238 entries from different African countries including Kenya, Nigeria, South…
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Kenya-based cargo airline Astral Aviation is set to launch country's first cargo drones after inking a deal for the acquisition of the remote-controlled aircraft.
Astral has signed an agreement with Dubai-based Falcon Drones Technology FZ-LLC for supply of two Lucas-F250 cargo drones. Under the…
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Kenya Airways (KQ) has inked a deal with American aircraft manufacturer Boeing, making it the first African airline to use Boeing’s Consumable & Expendable Services.
The agreement will help Kenya Airways improve its airplane reliability and turnaround times.
Under the agreement, Boeing will…
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US top government officials are set to arrive in the country on Saturday for a tour aimed at boosting business with Kenya and countering China's investments in Africa.
The officials are drawn from a state agency tasked with helping American private companies do business in developing countries.
The…
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The High Court has issued conservatory orders suspending the implementation of the excise duty on transactions of cash exceeding half a million shillings.
The excise duty on the bulk bank cash transactions was announced by Treasury Cabinet Secretary under the Finance Bill 2018.
"I propose to…
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The amount of cash stashed by wealthy Kenyans in foreign accounts increased in 2017 despite spirited efforts by the government to have the assets returned to Kenya.
Money hidden by Kenyans in Swiss accounts grew by 4.3 per cent to Swiss francs 950 million (Sh96 billion) last year, up from 911.4…
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The government is set to introduce taxation on airtime received by Kenyan workers from their
employers beginning August 1st, 2018, in a new Bill published by Treasury Cabinet Secretary Henry Rotich.
The new taxes will also be imposed on allowances offered to employees including house, meals,…
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The Communications Authority of Kenya (CA) has revealed that Kenyans transacted a record Sh1.8 trillion through mobile cash platforms between January and March, 2018.
Of the Sh1.8 trillion, Safaricom's Mpesa service accounted for Sh1.48 trillion.
Equitel Money subscribers transacted Sh389 billion…
