Category: Business

Wash Wash’ as the term goes, refers to the money laundering businesses which some Kenyans have opted to go for due to their quick returns.In essence, it is getting money…

Members of Parliament exposed Kenyans to the high fuel taxation, yet they are now questioning the increased cost of fuel.By not putting the government to task as it passed pieces…

Kenyan YouTube content creators are expected to submit their tax information to the video-sharing platform by March 31 in order to avoid a hefty 24% taxation on their earnings.In a…

A different kind of Grammys this was but that will stop our favorite celebrities from killing it when it comes to their fashion sense.I know many people had missed dressing…

When a wealthy man buys a plane, should he learn to ride it or hire a pilot?That’s what Rnb Singer Ludacris has done.The singer-cum-actor reportedly owns a Hawker 700 plane,…

We love these products, and we hope you do too. E! has affiliate relationships, so we may get a small share of the revenue from your purchases. Items are sold…

Unemployment has pushed many into creative manoeuvres and unorthodox out-of-the-box tactics to earn an extra coin. Forget the crooks who engage in illegal enterprises such as pick pocketing, ngeta (choke-hold)…

Driver and conductor of Bomet Travellers Sacco matatu KCK 423N plying Kericho and Litein have been put on the spot for mishandling passengers.Concerned passenger Martin Kiptum claims that on October…

Drought has cut green leaf tea deliveries by 25 per cent, especially hitting areas with the best quality teas, industry managers have said.This sets farmers, most of who are small-scale…

National Bank of Kenya has projected a flat growth in its interest income for this fiscal year, attributing the gloomy outlook to the interest rates cap law which has narrowed…

A Kwale-based sugar factory backed by Mauritian giant, Omnicane, has begun modifying its packaging line to pack smaller retail units beginning July, as the company eyes the mass market.Kwale International…

Anti-jigger campaigners will distribute 10 million shoes to school-going children in the country.Ahadi Trust Chief Executive Officer Stanley Kamau on Friday said the fight against jiggers is crucial to enable…

Nairobi Governor Evans Kidero and Senator Mike Sonko have renewed their bitter war over garbage collection in the city.The county government has warned against unauthorised garbage collectors after the Sonko…

Equity Bank #ticker:EQTY has recorded a 6.1 per cent drop in net profit for the three months to March 2017, joining lenders that are counting the cost of reduced interest…

Moody’s on Wednesday slashed China’s credit rating for the first time in almost three decades citing concerns about the country’s rising debt and slowing growth, but Beijing rejected the downgrade…

Nokia has settled its patent dispute with Apple and signed a business collaboration deal with the US giant, the Finnish firm said on Tuesday, sending its shares sharply higher.Nokia said…

With the on and off rains being experienced in several parts of the country, extra caution needs to be taken when tending to backyard plants.Everything in excess leads to destruction…

Israeli airline Arkia will take longer to begin direct flights to Nairobi because the carrier lacks a plane to deploy on the route it stopped plying in 2003.The Israeli embassy…

Regulatory charges have pushed up ticket prices, slowing air travel in East Africa despite more than 10 years of liberalisation of the aviation sector, a new study indicates.The study commissioned…

Ousted South Sudanese army chief, Paul Malong, has returned to the capital Juba on Saturday after he was fired by President Salva Kiir earlier in the week. Malong said he…

A British company has said it is putting finishing touches to a $250 million (around Sh26 billion) biogas plant it set up in Homa Bay County that will use hyacinth…

Mauritian firm SBM Holdings has appointed three new local directors at Fidelity Commercial Bank after getting green light from the Central Bank of Kenya (CBK) to takeover the lender.Fidelity Commercial…

The US Central Intelligence Agency said Wednesday it had formed a special unit dedicated to assessing North Korea’s nuclear weapons threat.The CIA created its first single country-focused mission center, pulling…

Kenyan betting firm SportPesa has launched operations in Tanzania as it seeks to become the regional leader in sports gaming.The firm’s entry into Tanzania comes at a time when sports…

Rwanda has doubled the price of gorilla permits from about Sh77,400 to Sh154,800 for all visitors, the Rwanda Development Board (RDB) said in a statement last weekend.A new exclusive package…

Google.Org has announced Sh200 million (USD2 million) grant to support the use of technology in schools.The fund will be released to RTI International to help in improving learning outcomes among…

The Higher Education Loans Board is owed Sh9.5 billion by past beneficiaries, making it hard to meet the demands of financing higher education.To enhance repayment, the board has issued a…

Entrepreneurship and money are like a game of chess, providing both traps and opportunities. Your success in the game largely depends on how you make your move: a smart move…

UBA bank has been ranked the cheapest lender for Small and Medium Size Enterprises (SMEs) in the country’s financial sector according to a new study by consulting firm Think Business…

Co-operative Bank of Kenya #ticker:COOP plans to raise its authorised shares by 50 per cent or 2.5 billion units to cater for its upcoming bonus issue and future capital raising.The…

Barclays Bank of Kenya (BBK) has become the second lender to predict a drop in earnings this year, attributing the gloomy outlook to the interest rates cap law which has…

Twitter Inc is partnering with Bloomberg Media for a round-the-clock streaming television news service on the social networking platform, the Wall Street Journal reported on Sunday.The channel, which is yet…

KCB Group KCB • 34.75 ▲ 2.21% is set for another round of layoffs in an early retirement scheme for its employees intended to save Sh2 billion per annum in…

Housing Finance Company (HFC) #ticker:HFCK, the mortgage lending and banking subsidiary of HF Group, has partnered with payment solutions firm MasterCard to issue debit cards as part of the bank’s…

A delegation of Japan’s used car dealers has arrived in Nairobi to help craft strategies against fraud that has seen Kenyans lose millions of shillings through online vehicle purchases.Officials of…

Former Safaricom #ticker:SCOM chief executive Michael Joseph is set to step down as Vodafone’s director of mobile money later this year as part of a wider plan to disengage from…

The taxman and a Chinese firm are headed for a major legal brawl over a contested Sh3.5 billion outstanding tax, which the company claims has been exaggerated.High Court Judge Chacha…

Two Rivers Development Limited (TRDL), a company partly owned by investment firm Centum #ticker:ICDC, is seeking to raise Sh2 billion through short-term debt to fund its real estate projects.TRDL, whose…

Mastermind Tobacco will be the biggest beneficiary of the tax reduction on unfiltered cigarettes, according to London-based investment bank Exotix.Exotix says in a research note that Mastermind will gain the…

A butterfly house is changing the lives of coastal peoples living near tropical forests in Kilifi, Kwale and Taita Taveta.The Mombasa Butterfly House, which is a Centre for Biodiversity and…

Telecoms firm Airtel has discontinued the service that allowed customers to top-up airtime using local scratch-cards whenever they travelled in Africa.The roaming top-up service was terminated last month and customers…

At least 230,000 Kenyans are using Safaricom’s healthcare app M-Tiba, representing a five-fold growth since the product was rolled out nationwide six months ago.M-Tiba allows users to save money that…

Increased provisioning for doubtful debts from clients in Asia, Francophone countries in Africa and the Middle East by over five times (485 per cent) saw Kenya Re post a 7.5…

Tech giant Samsung Electronics Co Ltd said late on Monday that it plans to sell refurbished versions of the Galaxy Note 7 smartphones, the model pulled from markets last year…

The sale of the mobile-based M-Akiba Treasury bond starts on Thursday, ending a one-and-a-half-year wait for small retail investors to invest in government debt.M-Akiba, whose proceeds are earmarked for infrastructure…

Over the past decade, digital technologies have disrupted nearly every industry.Kenyans have not been left behind by these advances and research shows that they are increasingly switching to online shops,…

Tea prices at the Mombasa auction dropped by Sh14 this week after remaining flat in the previous two weeks, defying the ongoing drought that had been touted to increase the…

The Kenya Revenue Authority (KRA) wants the court to suspend an order stopping it from seeking capital gains tax following a verdict that declared its law unconstitutional.In a suit filed…

Mortgage lender Shelter Afrique has issued a profit warning attributed to increased provisions for bad loans.This comes after a forensic audit confirmed allegations of creative accounting and subprime lending at…

American television network Fox has apologised to Kenyans after it aired authentic footage of the Westgate Mall terror attack in Monday’s episode of their hit series “24 Legacy”.According to Quartz…

A charity organisation is planning to give low-income people in selected Kenyan rural villages free money with no strings attached to supplement their earnings and improve their living conditions.Pierre Omidyar,…

Kenyan tycoon Humphrey Kariuki has won a Sh37.5 billion tender to build a gas power plant in Mozambique.Mr Kariuki’s firm GL Africa Energy, which is based in the UK, will…

Human and animal feeds manufacturer Unga Group saw its net profit drop 2.4 times to Sh132.8 million in the half year ended December on the back of higher costs.It made…

The Interior ministry’s recent directive barring petroleum tankers from moving at night on Tuesday sparked off a row between the government and transporters that, if not resolved, could plunge the…

The Nairobi Securities Exchange (NSE) is the worst-performing market globally year-to-date according to Bloomberg, with risk-averse investors shunning stocks for safe-haven government debt.The chief executive of the NSE Geoffrey Odundo…

You know the calabash! It has been used by man as a utensil from time immemorial, but you definitely haven’t seen it all. One young man has taken the calabash…

Mine is not a question but a clarification regarding your article about Tesla electric cars. It is not true that Tesla vehicles are not exported to right-hand drive markets. Right-hand…

President Uhuru Kenyatta is expected to reopen the Volkswagen assembly plant in Thika next week in what State House said indicates Kenya’s improving business environment.The opening of the plant on…

The Kenyan hospitality Industry is waiting with a bated breath, for the festive session to kick off, hoping to reap big from both domestic and international tourists.The Kenyan hospitality Industry…

SportPesa is one of Africa’s top Sports betting platforms and the official sponsor of the SportPesa Premier league in KenyaThe betting platform has showed its financial might in the past…

The patients have not received medical attention ever since the nationwide strike by health workers started on Monday.Fourteen patients have been locked up inside hospital wards at the Kabarnet County…

The celebrated internationally acclaimed deejay who is also a mentor to several popular local deejays arrived at Jomo Kenyatta International Airport on Thursday evening aboard Emirates Airline amidst tight security.Paco…

Kenya Breweries Limited (KBL) launched a new Ready to Drink (RTD) alcoholic beverage under the Smirnoff flagship brand, extending its category offering for the fast-growing consumer segment.Smirnoff Ice Electric Ginseng…

The end of year is fast approaching and trust me, you better make that great investment. Perhaps you’ve been wondering why you haven’t made your groundbreaking achievement. The choice of…

The government-owned cheaper maize flour of Sh75 a packet will only last for two days, dimming efforts to curb the current runaway price that has seen the cost of a…

Marketing services company WPP Scangroup SCAN • 18.50 ▼ 2.63% has recorded a 3.8 per cent drop in full-year net profit to Sh460.4 million on lower revenues.The firm, which is…

Standard Chartered Bank of Kenya Tuesday shrugged off the effects of the interest rate caps to post a 42.7 per cent increase in net profit for 2016.The rise in profit…