Latest from Capital Business

business11h ago

Taiwan bans Chinese app RedNote over fraud concerns

Taiwan has announced a one-year ban on the popular Chinese social media app RedNote (Xiaohongshu) due to widespread concerns over online shopping scams. The decision follows the detection of over 1,700 fraud cases since last year, resulting in total losses exceeding NT$247 million (£5.9 million; $7.9 million).

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business11h ago

Pesalink unveils first awards ranking top banks in instant payments

Pesalink has launched its first-ever awards to recognize top-performing Kenyan banks in instant payments, setting new industry benchmarks for reliability, affordability, and growth. The rankings are based on ten months of verified data from Pesalink's Instant Payments Dashboard.

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business10h ago

MPs order probe into proposed sale of Portland Cement stake

The National Assembly’s Departmental Committee on Trade, Industry & Cooperatives has ordered the Competition Authority of Kenya (CAK) to investigate the proposed sale of a 29.25 percent stake in East African Portland Cement (EAPC) due to concerns about undervaluation and potential market dominance.

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business10h ago

Top UK scientist says research visa restrictions endanger economy

Prof Sir Paul Nurse, a distinguished Nobel Prize-winning scientist and President of the Royal Society, warns that the UK's visa system for science researchers is jeopardizing the national economy and scientific future. He states that high visa fees deter early-career researchers, who are instead choosing rival economies like China and Singapore.

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business9h ago

House Committee clears multinationals of bias in logistics sector

A Kenyan parliamentary committee has cleared several multinational companies of allegations of bias against local investors in the transport and logistics sector. The committee found no evidence to support claims of discrimination or anti-competitive practices.

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business1d ago

US commits Sh208bn to upgrade Kenya’s public health institutions

Kenya and the United States have forged a historic Health Cooperation Framework, making Kenya the first country to enter such a government-to-government agreement directly with the US. This new framework will see the United States invest $1.6 billion (KSh208 billion) over the next five years, with funds directly channeled to Kenyan government health institutions, bypassing NGOs.

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business1d ago

Meta starts kicking Australian children off Instagram and Facebook

Meta has begun removing accounts of users under 16 years old from Instagram, Facebook, and Threads in Australia, ahead of a new social media ban taking effect on December 10.

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business1d ago

KenGen lifts dividend as profit climbs 54pc

KenGen, Kenya's primary power producer, has significantly increased its dividend payout to KSh 0.90 per share following a remarkable 54 percent surge in profit after tax to KSh 10.48 billion for the year ended June 30. This financial growth was driven by lower operating costs and improved foreign exchange movements.

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business1d ago

Liaison, RUPHA roll out framework to boost private hospitals’ role in UHC

Liaison Group and the Rural Urban Private Hospitals Association (RUPHA) have launched RUPHA 360, a new framework aimed at strengthening private healthcare facilities in Kenya and aligning them with the nation's Universal Health Coverage (UHC) agenda.

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business11h ago

Bolttech acquires Kenya’s digital insurance platform mTek

Global insurtech organization Bolttech has acquired Nairobi-based digital insurance platform mTek, marking significant consolidation in East Africa's rapidly expanding insurtech market and setting the stage for wider regional expansion.

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business1d ago

A turning point in the fight against ‘missing trader’, high-value tax evasion

A recent High Court decision has bolstered Kenya's fight against tax evasion, upholding a significant portion of a Sh773 million tax assessment against a construction company involved in a "missing trader" scheme.

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business1d ago

Kenya’s private sector posts strongest recovery in 5 years

Kenya's private sector experienced its strongest recovery in over five years in November, driven by a significant increase in new business and consumer spending.

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business1d ago

Financing gap risks undermining Kenya’s agriculture growth, experts warn

Kenya's agricultural sector, a significant contributor to the nation's GDP, is facing a critical financing gap that threatens its growth and competitiveness in global markets, according to experts. Underfunding is undermining long-term economic goals despite the sector employing millions.

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business1d ago

Kenya must open up to unlock startup potential: Latitude59

Kenya's startup ecosystem, though rich in talent, faces significant hurdles due to regulatory bottlenecks and structural issues, according to global innovation platform Latitude59. To unlock its full potential, Kenya must open up to foreign investment, streamline regulations, and strengthen public-private collaboration.

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business1d ago

Govt sells 15pc Safaricom stake, raises Sh244bn for infrastructure investments

The Kenyan government has sold a 15 percent stake in Safaricom, raising Sh244.5 billion for infrastructure investments. This transaction also increased Vodacom Group’s control over Safaricom to 55 percent.

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business2d ago

Home visits help rural patients manage hypertension as researchers track rising cases

A Kenyan study is using home visits by Community Health Promoters (CHPs) to help rural patients manage hypertension, a condition often dubbed the 'silent killer.' This approach aims to improve treatment adherence and early detection in areas with rising cases.

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business2d ago

Blood and cell tech firm Terumo BCT opens Africa HQ in Nairobi

Global medical technologies company Terumo Blood and Cell Technologies (Terumo BCT) has opened its Africa headquarters and regional training centre in Nairobi, Kenya. This strategic move aims to revolutionize blood management and boost technical capabilities across the continent, addressing prevalent issues like blood shortages and inadequate infrastructure.

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business2d ago

Equity Group wins CIO100 Africa Award for digital banking innovation

Equity Group Holdings has won the 2025 CIO100 Africa Award in the PlusOne Banking Sector category, recognizing its leadership in financial technology and digital transformation at the CIO100 Symposium and Awards in Naivasha.

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business2d ago

Talanta Sports City paves the way for first-world urban mobility

The construction of Talanta Sports City is significantly transforming Nairobi's urban mobility, with extensive infrastructure upgrades driven by Kenya's first-world stadium project. These developments include new access roads, railway links, and major highway improvements to accommodate increased traffic and host the 2027 Africa Cup of Nations.

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business2d ago

Stanchart moves to strengthen wealth and risk management in the region

Standard Chartered Bank has partnered with CFOs East Africa to enhance wealth and risk management capabilities among Chief Financial Officers and senior finance professionals across the region. This collaboration builds on the bank's sponsorship of the annual CFOs East Africa Awards 2025 and introduces an advisory pathway to help CFOs manage corporate and personal assets.

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business2d ago

Regulator fines Directline Assurance Sh85mn for abusing buyer power against SMEs

The Competition Authority of Kenya (CAK) has fined Directline Assurance Company Limited 85 million Kenyan Shillings for abusing its buyer power against two Nairobi-based small motor vehicle repair firms, Kilele Motors Limited and Midland Autocare Limited.

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business2d ago

Petitioners contest High Court ruling on unregistered seed laws

A coalition of 15 petitioners, including smallholder farmers and Greenpeace Africa, have filed an appeal against a High Court decision that overturned significant sections of Kenya's Seed and Plant Varieties Act. The petitioners argue that the previous ruling, which allowed farmers to freely exchange unregistered seeds, misinterpreted constitutional rights and negatively impacts farmer autonomy.

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business2d ago

DTB fined Sh500,000 for data privacy breach

Diamond Trust Bank (DTB) Kenya and its Uganda subsidiary have been fined a combined Sh500,000 for breaching Kenya's Data Protection Act, 2019. The ruling by the Office of the Data Protection Commissioner (ODPC) follows a complaint regarding mishandling of customer data.

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business2d ago

New fund launched to boost urban innovation across African cities

The Million Lives Collective (MLC) and the Judith Neilson Foundation have launched the African Cities Innovation Fund (ACIF) in Nairobi, Kenya. This new grant initiative aims to boost urban innovation across African cities by supporting collaborative solutions to urban challenges.

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business2d ago

Zoho expands young creators program to bridge skill gap in the region

Zoho is expanding its Young Creators Program (YCP) across East Africa to address the growing digital skills gap, offering hands-on training in low-code application development to students and professionals.

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business2d ago

NCBA expands SME support with expanded strategic development programme

NCBA Bank is bolstering its support for Kenyan small and medium enterprises (SMEs) through an expanded Enterprise Development Programme. This initiative, run in partnership with Strathmore Business School, aims to equip businesses with crucial skills and networks for sustainable growth.

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business3d ago

Air France–KLM Posts Sh181bn Q3 Profit On Premium Cabins, Fleet Modernization

Air France–KLM announced a Q3 profit of strong financial growth, primarily driven by robust performance in premium cabins and strategic fleet modernization efforts.

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business3d ago

EU pesticide exports and their impact on Kenyan communities

A new report reveals the European Union exported 122,000 tonnes of banned pesticides to Kenya in 2022, causing health and environmental harm. This comes amidst broader criticism of foreign entities, including the British Army Training Unit Kenya (BATUK), for alleged misconduct and detrimental impacts on local communities.

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business3d ago

Galana Kulalu Set to Become Kenya’s First Agricultural Special Economic Zone

Kenya is transforming the Galana Kulalu area into its first Agricultural Special Economic Zone (SEZ), as announced by Agriculture and Livestock Development Cabinet Secretary Mutahi Kagwe, to boost large-scale farming and food security by attracting global agribusiness investors.

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business3d ago

Kenya Power Moves Electricity Connection Process Online Amid Expansion Drive

Kenya Power has digitized its electricity connection application process, requiring all new applications to be submitted exclusively through its online platform, effective this week. This shift aims to improve efficiency, transparency, and reduce instances of fraud.

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