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business5h ago

Mt. Kenya Tea Factory placed under administration

Mt. Kenya Tea Factory Limited has been placed under administration, with insolvency practitioners appointed to manage its affairs. This move, effective on September 3, 2025, means the company's directors no longer have power over its assets.

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business5h ago

Tesla proposes $1tn award for Musk if he hits targets

Tesla's board has proposed a staggering $1 trillion pay package for CEO Elon Musk, contingent on him achieving ambitious targets over the next decade. This follows a previous $29 billion share award after his original $50 billion package was struck down by a US court.

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business23h ago

ICPAK urges crackdown as fake accountants infiltrate

The Institute of Certified Public Accountants of Kenya (ICPAK) has raised concerns about the increasing presence of unqualified individuals in accounting positions, attributing this trend to corporate failures and a decline in financial accountability. ICPAK is intensifying efforts to remove these individuals, particularly after revelations from the Public Service Commission (PSC) about widespread fake certificates in the civil service.

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business23h ago

Lululemon squeezed by tariffs and weaker sales

Lululemon shares experienced a significant drop after the company issued a warning regarding the financial strain from US President Donald Trump's tariffs and the closure of a duty-free loophole. The Canadian company anticipates these changes will cost them approximately $240 million (£178.4 million) this year, leading to a slashed sales outlook for the coming months.

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business21h ago

China’s HLA Group opens first fashion brand store in Nairobi

China’s Helian Fashion Brands (HLA Group) has launched its first fashion retail outlet in Kenya at The Hub Karen in Nairobi, marking its entry into the African market.

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business21h ago

Jaguar Land Rover staff to stay at home in cyber attack fallout

Jaguar Land Rover (JLR) has instructed factory staff to stay home until at least Tuesday due to fallout from a cyber attack that forced the company to take vital IT systems offline, affecting car sales and production.

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business1d ago

Manufacturers urge protection amid rising foreign import competition

Kenyan manufacturers are expressing significant concern over increasing competition from foreign imports, primarily from Asia, which they warn could undermine local industries. This issue was highlighted at the 8th Kenya International Industrial Expo (KIIE) 2025 in Nairobi.

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business1d ago

KRA stops Sh123mn tax fraud involving rice containers

The Kenya Revenue Authority (KRA) has successfully thwarted a Sh123 million tax fraud attempt involving 161 containers of rice at a Mombasa Container Freight Station (CFS). The fraud, which occurred between August 1 and 23, 2025, was detected during routine audit checks, leading to the full recovery of the at-risk amount.

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business1d ago

Trump’s tariffs are pushing food and drink exporters closer to China

US President Donald Trump's sweeping tariffs are inadvertently pushing food and drink exporters, especially those from Brazil and India, towards alternative markets like China, rather than boosting the American economy as intended. These tariffs are leading to increased interest in trade with China and are expected to raise prices for American consumers.

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business1d ago

Gamers frustrated as Hollow Knight: Silksong crashes stores on launch

The highly anticipated video game Hollow Knight: Silksong caused widespread frustration among gamers on Thursday, September 5, as major online stores like Steam, Nintendo, PlayStation, and Xbox crashed due to overwhelming demand following its launch at 15:00 BST.

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business1d ago

Supreme Court throws out StanChart bid to stop retirees’ dues

The Supreme Court of Kenya has dismissed an application by Standard Chartered Bank Kenya Limited (StanChart) attempting to halt a Court of Appeal (CoA) ruling. This ruling directed StanChart to pay millions of shillings in pension dues to former employees, marking a significant development in a long-standing dispute.

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business1d ago

Kenya, China sign Pact to boost industrial cooperation

Kenya and China have signed a Memorandum of Understanding (MOU) to boost trade and industrial cooperation, coinciding with the 8th Kenya International Industrial Expo (KIIE) in Nairobi. This agreement aims to expand Kenya's manufacturing base and create jobs.

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business1d ago

UK borrowing costs ease as bond market calms

UK government long-term borrowing costs have eased after reaching their highest level since 1998 earlier in the week, with the yield on 30-year government bonds slipping to 5.57%.

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business1d ago

Mark Zuckerberg – no, not that one – sues Facebook for account shutdowns

A US lawyer named Mark S. Zuckerberg is suing Facebook after his account was repeatedly suspended for allegedly "impersonating a celebrity." He claims these shutdowns have cost him thousands of dollars in lost business.

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business1d ago

World’s largest sports piracy site shut down by police

The world’s largest illegal sports streaming site, Streameast, has been shut down through a joint operation by the Alliance for Creativity and Entertainment (ACE) and police in Egypt. The site, which garnered over 1.6 billion visits in the past year, offered pirated streams of live sports like Premier League football and Formula One races.

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business1d ago

How East Africa’s young professionals are redefining whisky culture

Young professionals in East Africa are significantly reshaping whisky culture, moving beyond traditional associations to embrace whisky as a statement of lifestyle, taste, and individuality. This shift is driven by rising disposable incomes and increased global exposure, fostering a more inclusive and modern approach to whisky consumption.

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business1d ago

Lack of charging facilities a ‘barrier’ for electric lorries

The lack of adequate charging infrastructure is a significant barrier to the widespread adoption of electric heavy goods vehicles (eHGVs) for long-haul operations, despite their environmental benefits and lower mileage costs for regional use. This challenge is hindering the industry's ability to transition away from diesel lorries.

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business1d ago

Kenya gets Sh3.2bn NIH grant for aging study

Kenya has received a 3.2 billion Shillings ($25 million) grant from the U.S. National Institutes of Health (NIH) for the Longitudinal Study of Health and Aging in Kenya (LOSHAK). This five-year study will examine the impact of Kenya's rapidly growing older adult population on its health and economic systems.

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business2d ago

India makes ACs, tea, school supplies cheaper to mitigate shock of US tariffs

India significantly cut taxes on hundreds of goods, simplifying its Goods and Services Tax (GST) structure into two main slabs of 5% and 18%, effective September 22. This move aims to boost domestic consumption and mitigate the potential economic impact of steep US tariffs.

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business2d ago

Bonto halts Kenyan money transfer operations

Bonto Kenya Money Transfer Limited has suspended its money remittance operations, stopping transactions on August 15, 2025. The company cited mounting market and operational pressures, including narrow margins and rising expenses, as reasons for winding down operations, pending Central Bank of Kenya approvals.

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business2d ago

Kenya caterpillar dealer embraces AI for heavy machinery

Mantrac Kenya, the authorized Caterpillar dealer, is integrating Artificial Intelligence (AI), sustainable solutions, and digital transformation into its operations as Caterpillar celebrates 100 years globally. This strategic shift aims to enhance service delivery and address Kenya's infrastructure and construction demands.

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business2d ago

Lisbon’s Gloria Funicular derails, leaving 15 dead, 18 injured

The Gloria Funicular, a popular tourist attraction in Lisbon, Portugal, derailed and overturned on Wednesday evening, resulting in 15 fatalities and 18 injuries, with five in serious condition. The accident prompted widespread condolences and a national day of mourning.

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business2d ago

Govt names new Hustler Fund CEO

The Kenyan government has appointed Mr. Tanui as the new CEO of the Hustler Fund, taking over from Elizabeth Nkukuu who led the fund since its inception. Tanui, a financial services veteran with over 24 years of experience, aims to optimize collection processes and expand financial literacy initiatives.

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business2d ago

The engineer-footballer proving sports belong in CBE classrooms

Kenyan football star Michael Olunga, known as “The Engineer,” is advocating for the country's new Competency-Based Education (CBE) system, believing it will better support talented students in sports and arts. Olunga's own journey balancing engineering studies and a football career highlights the need for educational reforms that move beyond exam-centric success to nurture diverse talents.

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business2d ago

State Corporations push Govt pending bills to Sh524.84bn

NAIROBI, Kenya, Sept 4 - The government’s pending bills grew by Sh8.57 billion to Sh524.84 billion in the 2024/25 fiscal year (FY), new data by the Kenya breaking news | Kenya news today |

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business2d ago

Can India retaliate against Trump’s 50% tariffs?

US President Donald Trump's 50% tariffs on India, effective August 27, have put Delhi in a difficult position. India has responded with geopolitical signaling rather than direct retaliation, as the tariffs threaten significant economic repercussions.

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business2d ago

Google told to pay $425m in privacy lawsuit

A US federal court has ordered Google to pay $425 million (£316.3 million) in a privacy lawsuit for collecting user data even after tracking features were turned off. The verdict follows a class action lawsuit filed by users claiming Google violated privacy assurances.

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business2d ago

Judge overturns Trump administration funding cuts to Harvard

A US federal court has overturned a decision by President Donald Trump’s administration to cut approximately $2 billion (£1.5 billion) in research funding to Harvard University.

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business2d ago

IRM sets up African risk management hub in Nairobi

The Institute of Risk Management (IRM), a UK-based global professional body, has established its African subsidiary, the Risk Management Hub in Africa, headquartered in Nairobi.

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business2d ago

Iran reports monthly oil export rise of 630,000 barrels

Iran has reported a monthly increase of 630,000 barrels in its oil exports, demonstrating its ability to sell crude despite renewed U.S. sanctions. This surge comes as Iran also highlights significant petrochemical production and exports.

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