BUSINESS

Kenyans can now pay for products they buy from the global market in Amazon using Kenyan currency, Amazon has said. The firm says that the in the new development, shoppers will not be required to pay extra money in conversion fees. "You don’t need to worry about credit card...

President Uhuru Kenyatta and the Central Bank of Kenya (CBK) Governor Patrick Njoroge launched the new generation Kenyan currency in accordance with the 2010 constitution. The coins will begin circulation as a legal tender today in accordance with a gazette notice published on Tuesday. The new coin currencies contains...

ICT CS Joe Mucheru has instructed Communications Authority (CA) to investigate Saturday's MPesa outage in liaison with Central Bank of Kenya (CBK). "The Ministry has instructed CA to liaise with CBK the cause of this outage and forward a report to the government, including remedial measures that Safaricom...

NIC Group PLC and Commercial Bank of Africa Limited have announced commencement of discussions regarding a potential merger of the two entities. In a joint statement to newsrooms, the two financial institutions have said that subject to approvals from shareholders of the two entities and regulatory authorities the two...

Kenya Airways (KQ) has reduced the number of direct flights on the newly launched New York route from the current seven to five a week effective January 15, 2019. The five flights will be on Tuesday, Thursday, Friday, Saturday and Sunday every week, according to statement from the carrier. “Kenya...

  Kenya Airways (KQ) has postponed plans to fly to Somalia's Mogadishu due to delays in getting additional airline and operational requirements. The flights to Mogadishu were supposed to commence on December 5, but failed the national carrier failed to take off. "Kenya Airways wishes to update its guests and...

Oman-based cement manufacturer Raysut Cement Co has expressed an interest in acquiring Athi River Mining (ARM) Cement Ltd. This comes a month after Nigerian tycoon Aliko Dangote expressed interest on the same company. Raysut plans to use Ksh10 billion to acquire the cash strapped company, a move that ARM...

Importer and distributor of healthcare and consumer goods Harleys Limited is on the spot for selling substandard goods to Kenyans. The company is accused of repackaging pharmaceuticals products which they import  without expiry dates, choosing to make stickers locally and place on the products. This is not the first...

Telkom Kenya has acquired a $40 million (Ksh4 billion) loan from the European Investment Bank (EIB) in a bid to expand its network, as well as increasing its market share. The loan consensus states that Telkom will use the money to boost its 3G and 4G coverage and...

Kenyans can now become American citizens if only they invest a whooping Sh51 million shillings in the country. They will also be required to pay legal fees for the visas. Atlantic American Partners is currently in Kenya looking for interested locals since it is certified by the US...

Business entities with a turnover of less that Ksh5 million will start paying presumptive tax as from January 2019. According to a statement from the Kenya Revenue Authority, the entities will pay 15 per cent of the business permit fee or license. Owners will pay for the tax at the...

All is not pretty in the corporate world, as six companies listed with the Nairobi Securities Exchange (NSE) market have issued profit warnings in the 2018 financial year. The latest to issue a profit warning is Bamburi Cement, indicating that its profits would go down by over 25...