BUSINESS NEWS

Safaricom Chief Executive Officer (CEO) Bob Collymore, who has been away on a medical leave for several months has announced his return to the mobile service provider. In a video shared to staff and shareholders on Wednesday, Collymore announced the firm had posted a 14.1 per cent jump in net…

A scheme used by rogue Kenyan drivers working for taxi-hailing service, Uber to overcharge riders has been exposed. The drivers have allegedly been using dummy apps to extend the distance travelled by the customers in a bid to charge them increased fees. The dummy apps allows the drivers to…

Kenyan mobile service provider firm, Telkom Kenya is set to hand over 723 of its telecommunication towers to a United States company, American Tower Corporation (ATC) after the two firms signed an agreement for an undisclosed amount. The deal will grow the multinational's presence in the East…

Facebook, the world's leading social networking site, is set to launch a dating service in what is seen as a bid to challenge other popular dating apps such as Tinder. The firm will unveil features within its app to enable users to connect to other people who are keen to establish relationships.…

The United States has cut Sh200 million aid to a Kenyan family planning clinic, Family Health Options Kenya (FHOK), for defying President Trump's policy on abortion, Washington-based National Public Radio (NPR) reported on Wednesday. The facility lost 60 per cent of its budget for failing to…

The Ministry of Education has announced a 100 per cent waiver on Higher Education Loans Board (HELB) penalties. Speaking during HELB employers' forum in Nairobi on Thursday, Education Cabinet Secretary Amina Mohamed said the waiver will only apply on beneficiaries who clear the arrears in lump sum…

US-based technology company Microsoft has opened a software testing centre in Nairobi, the first in the African continent. Microsoft launched the Nairobi center through a partnership with Techno Brain, a Kenyan Information Technology (IT) company. Microsoft will outsource its testing and quality…

There are many Kenyans who are famous for their prowess in striking business deals, but little is known about John Ngumi, a seasoned investment banker behind deals worth billions of shillings. Ngumi, who is currently the Chairman of State-owned Kenya Pipeline Company (KPC), has brokered huge…

President Uhuru Kenyatta has announced a five per cent rise in the minimum wage to cushion workers against inflation. “In recognition of the good work done by our workers and cognizant of the 4.8 per cent rate of inflation this year, I hereby declare a corresponding 5 per cent increase of minimum…

The completion of phase II of the Standard Gauge Railway now hangs in the balance after the financier, China Exim Bank cut the funding by Sh42 billion, citing the obstruction of the project by numerous court cases. Supplementary budget documents presented to Parliament indicate that allocations to…