BUSINESS NEWS
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Safaricom has signed a deal with global online cash transfer platform PayPal. The partnership paves the way for direct transfer of funds between M-Pesa and PayPal accounts. Users in Kenya will be able to link their PayPal accounts to their M-Pesa, making it easier for them to make cash transactions…
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In a bid to save thousands of Kenyans from losing billions of money invested in Ekeza Sacco, the government has taken over the Cooperative Society.
The government said the Sacco will be liquidated and the cash returned to the investors. Commissioner for Co-operative Development Mary Mungai said it…
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Africa’s richest man Aliko Dangote has revealed why he decided to abandon plans to expand his vast business empire to Kenya.
The Nigerian, who spoke to renowned Kenyan media personality Jeff Koinange, said that some individuals - who he declined to name - but who described as “more corrupt than…
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The government has announced it will deploy more National Youth Service (NYS) buses in the ongoing public transport plan to ease traffic in Nairobi.
NYS Director Richard Ndumbai has said 50 additional buses will be rolled out by the end of April to help ease traffic in the city during rush hours.
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Members of the Stima Sacco are set to receive a 14 per cent dividend and a 12 per cent rebate on their shareholder contributions.
The total payout totals Sh1.98 billion in 2017, an increase from Sh1.16 billion in the previous year. Albert Mugo, the chairperson of Stima Sacco revealed that the…
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Businessman Keval Kumar was on Thursday arraigned before Makadara Chief Magistrates Court where he was charged for evading tax totaling to Sh15 billion.
Kumar is alleged to have defrauded or aided in defrauding Sh2,459,121,896 in Value Added Tax (VAT) and an additional Sh4,610,853,556.80 in income…
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Kenyan traders have began to feel the pinch following the recent announcement of one month ban on charcoal burning by the government.
Businesses that have been affected most are meat roasting joints in Nairobi and surrounding towns such as Kitengela, which has prompted them to lay-off some…
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Struggling Kenyan retail chain Nakumatt is counting losses of up to Sh200 million after its stock was looted by residents following a controversial eviction from one of its outlets in Nairobi.
Auctioneers led by the National Social Security Fund (NSSF) and security officers stormed Nakumatt's…
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The Nairobi County Government on Thursday netted a record daily revenue of Sh120 million through the online Jambo Pay system.
Governor Mike Sonko said his administration has set a target of collecting Sh1.6 billion in revenue by the end of March. He noted that the cashless payment system had…
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Sergey Mavrodi, a convicted Russian fraudster who operated a web-based pyramid scheme that swindled millions of shillings from Kenyans has passed away in Moscow.
Mavrodi reportedly succumbed to a heart attack in the Russian capital on Sunday. The 62-year-old founded the Mavrodi Mondial Moneybox (…
