Business

22 May 2024 - Kenya Power has lost 78 transformers worth Sh78 million in the last five months, translating into huge replacement costs.

22 May 2024 - Economic expansion and social advancement particularly in African countries are predicated on the development of infrastructure. The significance of infrastructure in Africa is paramount, given the region's prominent characteristics of fast population…

22 May 2024 - EACC says the money is suspected to have been corruptly acquired.

22 May 2024 - The circular economy is one of the emerging sectors that a regional business body has detailed the lack of relevant skills which has put the academia on the spot.

22 May 2024 - KAM says the sector still reeling from last year's taxes, which have crippled some local industries amid warnings that cost of soap, for example, may double due to the new packaging levy.

22 May 2024 - Initially, the budget for State House for the 2023/2024 financial year was set at Sh6.3 billion. It was later revised to Sh8.5 billion in the first supplementary budget.

22 May 2024 - True power is living the realization that you are your own healer, hero, leader.” – quoted by Diego Perez Indeed, success has always been built on that simple principle. The African story of the recent past has belied that. This needs to be regained and…

22 May 2024 - The one-year transition period for Corporate Trustees to register with the Retirement Benefits Authority (RBA), as stipulated in Legal Notice No. 103 of 21st July 2023, is nearing its end on 21st July 2024.

22 May 2024 - While renting in African cities has certain short-term advantages, the benefits of owning a home is significant. Owning a house gives financial security, inflation protection, and the opportunity for asset appreciation. It also allows for…

22 May 2024 - NAIROBI, Kenya, May 22 – NCBA Group profit after tax grew to Sh5.3 billion in the three months to March this year compared to a similar period last year, boosted by improved operating income, among other revenue streams. In its latest financial…

22 May 2024 - KCB Group has posted a 69 percent growth in net profit to Sh16.06 billion for the first quarter ended March 2024.

22 May 2024 - The BNPL Gross Merchandise Value in the Kenya is expected to increase to rise to Sh250.8billion by 2028.

22 May 2024 - The journey will cover 55 minutes each way.

22 May 2024 - Collection from financial transactions and airtime has overtaken ‘sin taxes’ to become the leading source of excise duty.

22 May 2024 - Kenya Association of Manufacturers advocates for an amendment to the Finance Bill, 2024 to introduce zero taxation on raw materials

22 May 2024 - NAIROBI, Kenya, May 22 – Microsoft Corporation, in partnership with G42, a technology group, has announced a $1 billion deal for digital investments in Kenya. The comprehensive digital ecosystem initiative for Kenya will be the largest single private-…

22 May 2024 - NAIROBI, Kenya, May 22 – A total of 78 transformers have already been vandalized in 2024, Kenya Power has announced, with a value of Sh78 million. Speaking during a dialogue forum with scrap metal dealers today, KPLC managing director (MD) Joseph Siror…

22 May 2024 - JUBA, May 22 (Xinhua) — The greater part of the Horn of Africa is expected to receive heavy rains between June and September, according to a statement on the region’s climate outlook. The rain pattern between June and September will be above normal in…

22 May 2024 - NAIROBI, Kenya, May 22 – Stanbic Bank has upgraded its core banking system, called ‘Temenos 24’ into latest version. The T24 upgrade will, however, be done in phases, the bank said, to minimize service disruption, and will be completed by the end of the…

22 May 2024 - For ages, combat tanks have been essential parts of military arsenal giving unmatched firepower, mobility, and protection on the battlefield in Africa.

22 May 2024 - Microsoft Corp. and G42, the leading artificial intelligence firm in the United Arab Emirates, are collaborating to construct a $1 billion geothermal-powered data centre in Kenya.

22 May 2024 - NAIROBI, Kenya, May 22 – AfriLabs, a network of technology and innovation hubs across Africa, has said that it will champion innovation and technology at the upcoming GITEX Africa event. The biggest tech and startup show in Africa is scheduled to take…

22 May 2024 - Coca-cola will invest Sh23 billion over the next five years to expand its operations in Kenya.

22 May 2024 - We are experiencing teething problems; some mills are having capacity issues in terms of the throughput of the coffee parchment they are able to handle per hour.

22 May 2024 - Knight Frank reveals coastal homes at 400%+ spread in prices, by location.

22 May 2024 - May 22 – Kenya’s government has defended the cost of President William Ruto’s trip to the US. Reports indicate that the price of hiring the luxury private jet in which he and his delegation travelled is estimated to be $1.5m (£1.2m). “The benefits from…

22 May 2024 - The United States and Russia are competing with China, France, and South Korea to build the first nuclear power plant in Ghana.

22 May 2024 - NAIROBI, Kenya, May 22 – Coca-Cola has announced plans to increase its investment in Kenya by up to Sh23 billion ($175 million) over the next five years, assuming the corporation meets its expected growth targets in the nation. Sunil Gupta, CEO of Coca-…

22 May 2024 - The management staff claim that salary increments over the years have favoured the unionised employees who negotiate better pay packages.

22 May 2024 - LONDON, May 22 (Xinhua) — The Consumer Prices Index (CPI) of the United Kingdom rose by 2.3 percent in the 12 months to April 2024, down from 3.2 percent in March, showed official data released on Wednesday. “The annual rate in April 2024 was the lowest…

22 May 2024 - NAIROBI, Kenya, May 22 – Kenyan clothing brand Vivo has opened its first store in the United States of America (USA) as it seeks to grow its market share beyond Africa. Founded by Wandia Wachira and Anne Marie Burugu in 2011, Vivo specializes in ladies…

22 May 2024 - The president of Zimbabwe, Emmerson Mnangagwa has expressed his heartfelt condolences to the people of Iran, over the death of their leader. The Iranian President Ebrahim Raisi died after a helicopter crash in northwestern Iran. On board the helicopter…

22 May 2024 - Fanaka Real Estate Ltd, a leading real estate company based in Nairobi, has partnered with NCBA, one of Kenya's most respected banks, to streamline the financing process and make your dream home a reality.

22 May 2024 - The funding was announced during President William Ruto’s four-day visit to the US

22 May 2024 - NAIROBI, Kenya, May 22 – Lipton Teas and Infusions has withdrawn earlier plans to acquire full ownership of Limuru Tea. As the majority shareholder, owning 51.99 percent of Limuru Tea’s total issued share capital, Lipton Teas initially issued a notice…

22 May 2024 - MADRID, May 21 (Xinhua) — International tourist arrivals surged to 97 percent of pre-pandemic levels in the first quarter of 2024, with projections indicating that numbers are expected to exceed those of 2019 over the rest of the year, the UN Tourism…

22 May 2024 - NAIROBI, Kenya, May 22 – Facebook and WhatsApp stand out as the top social media platforms used in Kenya, with YouTube and TikTok following closely in popularity. According to an audience measurement and industry trends report released by the…

22 May 2024 - The amount dropped to Sh15 billion in Q3 from Sh17b in Q1 2023-24

22 May 2024 - The Chinese e-commerce sites ship the equivalent of 88 Boeing 777 freighters of cargo worldwide every day. The vast volume has sent air freight rates through the roof, but the two companies have been willing to subsidize fast shipping as they grow…

22 May 2024 - Product development and innovations are essential for companies to remain competitive, drive revenue growth, reduce costs, manage risks, enhance their reputation, and prepare for the future.

22 May 2024 - One of the major concerns in the health insurance industry is the increase in claims frequency in recent years, consequently leading to additional increases in costs.

22 May 2024 - KAMPALA, May 21 (Xinhua) — Investors in Uganda have expressed optimism about the business environment, especially in the manufacturing and wholesale trade sectors in the East African country, according to a government report released on Tuesday. The…

22 May 2024 - BRUSSELS, May 21 (Xinhua) — The Council of the European Union (EU) announced on Tuesday that ministers from EU member states have agreed to use proceeds from frozen assets of the Central Bank of Russia (CBR) to support Ukraine’s military efforts. Under…

22 May 2024 - NAIROBI, May 21 (Xinhua) — The hum of city life could be heard outside the cybercafe on the second floor of a building on Tom Mboya Street in Kenya’s capital, Nairobi. Vehicles honked, touts shouted the names of residential estates to which the cars…

22 May 2024 - KCB Group has engaged Garam Investments to auction the 78 Greatwall apartments to recover Sh1.9bn Erdemann Property borrowed to construct the houses

22 May 2024 - Uganda and Russia recently had a conversation on the security issues affecting Africa. Representatives from both countries spoke about the conflict hotspots and the likelihood of attaining a resolution to said conflicts. Russia had also engaged in a…

22 May 2024 - Manufacturers say the ripple effect will also make prices of various goods unaffordable.

22 May 2024 - Kenyan Forex traders find themselves at an interesting crossroad at the moment.

22 May 2024 - The government is investing Sh20 billion collected from the affordable housing levy in Treasury bills and bonds.

22 May 2024 - Kenyan President William Ruto is the first African leader invited for a State visit to the US in 15 years.