BUSINESS

Tullow Oil, the company hired to mine Turkana oil in Lokichar will use at least Ksh110 billion ($1.1 billion) to construct the pipeline that will transport crude oil from Lokichar wells to Lamu. The oil company has hired UK based Wood Group to design the 800km (500-mile) pipeline. In...

Deputy president William Ruto has said that the government plans on merging three state corporations. The corporations include the Agricultural Finance Corporation (AFC), National Cereals and Produce Board (NCPB) and the Agricultural Development Corporation (ADC). He said that merging the three corporations would increase efficiency and reduce the overlap...

The main contraband sugar suspect Mr Jaswant Rai has said that he is building a Ksh5 billion factory/storage facility in Kenya to advance his business agenda in the sugar industry. In an interview with a local television station, the West Kenya Sugar chairman has also exonerated himself of...

Sportpesa has become an household name in the world of betting in Kenya, Uganda, Tanzania, South Africa and even in the United Kingdom. However, its owners still remain in the background. Ronald Karauri, the CEO is the commonly known shareholder of the betting firm. He however owns only...

Kenya Bureau of Standards (KEBS) Managing Director Charles Ongwae has refuted claims that seized contraband sugar has mercury traces. Instead, Ongwae said that the infamous sugar has copper and lead metals beyond the recommended levels. The copper that was detected was above the required levels identified by the...

French Retailer Carrefour will in July open a new hypermarket at Galleria Shopping Mall, along Lang'ata Road. This will be its sixth store in Nairobi, with the other five located at The Hub in Karen, Thika Road Mall, The Junction, Two Rivers Mall and Sarit Centre. “We will open the...

The path to recovery of the embattled Nakumatt Supermarket has taken a new twist, with the court's appointed administrator Peter Kadhi accusing the CEO Atul Shah of writing off suppliers' stock worth Ksh18 billion, without following the due procedure. Addressing the Senate Tourism Trade and Industrialisation committee which...

Veteran Architect Lee Karuri, Chairman of Longonot Gate Development Ltd, the promoters of the troubled resort city project in Naivasha, has been summoned to testify as a witness before a Nairobi commercial in connection with a lawsuit over the developer’s failure to honour contractual obligations with buyers. Summons...

Perspective Healthcare, a locally-based SME pharmaceutical firm, on Tuesday unveiled a new anti-malaria drug into the Kenyan market, pyramax for the management of uncomplicated malaria. The once-daily, 3-day therapy is the first in Africa for South-Korean based Shin Poong Pharmaceuticals. The fixed-dose combination of pyronaridine and artesunate was co-developed...

A clique of lawyers and accountants have launched Kenya’s first premium online tax website, Ushuru.co.ke, in a bid to ensure that every citizen is tax compliant. The site aims to lighten taxpayers burden, by making the process of filing their tax returns a little easier, which Kenyans have complained...