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business19h ago

Kenya woos diplomats to back pharmaceutical manufacturing drive

Kenya is actively engaging diplomats from several countries to bolster its pharmaceutical manufacturing sector and reduce reliance on imported medicines.

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business1d ago

Tribunal freezes RBA directive requiring StanChart Pension Fund to reassess retirees’ claims

The Retirement Benefits Appeals Tribunal has temporarily suspended a directive from the Retirement Benefits Authority (RBA) ordering the trustees of the Standard Chartered Kenya Pension Fund to reassess retirees' claims. This stay is in effect pending the hearing of an appeal by the pension fund trustees.

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business2d ago

Uber to acquire Glovo in Kenya, other markets in Sh1.95tn deal

Uber is set to acquire Glovo Kenya and other markets as part of a massive Sh1.95 trillion deal to purchase Delivery Hero’s food delivery business across 50 markets.

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business2d ago

Buffett calls Bill Gates relationship with Epstein ‘distasteful’

Billionaire investor Warren Buffett has described Bill Gates' relationship with the late sex offender Jeffrey Epstein as "distasteful," leading to a significant change in Buffett's charitable giving.

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business2d ago

Stanbic Bank apppoints Safaricom executive Michael Mutiga as Kenya CEO

Stanbic Bank Kenya has appointed Safaricom executive Michael Mutiga as its new Chief Executive Officer, effective August 1, 2026.

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business2d ago

Petition challenges KPC Board, MD recruitment

The Kenya Petroleum Oil Workers Union has filed a petition at the High Court challenging the appointment of Faith Bett Boinett as KPC Board Chair and seeking to halt key decisions made by the Kenya Pipeline Company (KPC) board.

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business2d ago

Supreme Court upholds tax waivers for Japanese firms in Kenya projects

The Supreme Court has upheld tax waivers for Japanese firms and their employees working on development projects in Kenya, dismissing a petition challenging the exemptions.

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business3d ago

Soldiers to access 4pc mortgages under new housing scheme

More than 50,000 Kenya Defence Forces (KDF) personnel will now have access to subsidized mortgages at a 4% interest rate through a new housing scheme. This initiative is a collaboration between KCB Bank Kenya, the Ministry of Lands, Public Works, Housing and Urban Development, and the Ministry of Defence.

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business3d ago

HACO Industries MD Mary-Ann Musangi elected KAM Vice Chair

Mary-Ann Musangi, Managing Director of HACO Industries Kenya, has been elected Vice Chairperson of the Kenya Association of Manufacturers (KAM) for a two-year term, effective July 16, 2026.

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business2d ago

High input costs, taxes dim Kenya’s appeal to investors

Kenya, once the undisputed investment gateway of East Africa, is facing growing competition for foreign direct investment due to high operating costs and policy uncertainties, challenging its traditional advantages.

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business2d ago

Longer lives push Kenyans to rethink retirement planning

Kenyan retirement experts are urging citizens to begin retirement planning earlier due to increasing life expectancy and rising healthcare costs. The call to action was made at a pension forum in Nairobi.

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business3d ago

Court stops recruitment of Moi Teaching and Referral Hospital CEO

The High Court has halted the recruitment process for the Chief Executive Officer of Moi Teaching and Referral Hospital (MTRH), deeming it unconstitutional.

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business3d ago

KEPSA CEO Carole Kariuki joins Equity Bank Kenya board

The appointment adds the private sector leader to the bank's board while she continues serving as an Independent Non-Executive Director at the Nairobi Securities Exchange.

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business3d ago

WTO: Gulf tensions expose Kenya to higher fertilizer costs

Rising geopolitical tensions in the Gulf could lead to higher fertilizer costs for Kenyan farmers, according to the World Trade Organization (WTO).

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business3d ago

NBA tightens GMO import rules, requires mandatory clearance

The National Biosafety Authority (NBA) in Kenya has implemented new regulations requiring mandatory clearance for all genetically modified organism (GMO) imports. This directive aims to enhance oversight and ensure compliance with biosafety laws.

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business3d ago

Moody’s cuts Israel’s 2026 growth forecast to 3.7pc amid security risks

Global rating agency Moody’s has downgraded its 2026 economic growth forecast for Israel to 3.7 percent due to ongoing security risks and sustained high defense spending.

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business3d ago

UN: Over 48mn in East Africa require urgent food aid in 2026

An estimated 48.5 million people in East Africa require urgent humanitarian assistance this year, according to a warning from the United Nations.

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business4d ago

Govt to earn Sh22.5mn monthly from Mombasa LPG terminal land lease

The Kenyan government is set to generate significant monthly revenue from leasing land in Mombasa to Asharami Synergy Limited for an LPG storage facility.

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business4d ago

Tax uncertainty threatens NIFC’s $5bn investment target

Concerns over Kenya's unpredictable tax policies threaten the Nairobi International Financial Centre (NIFC)'s goal of attracting $5 billion in investments by 2030.

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business4d ago

CBK assures stable shilling amid Dollar inflows

The Central Bank of Kenya (CBK) has assured the public that the Kenyan shilling will remain stable due to significant inflows of US dollars from recent government asset sales.

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business4d ago

China economic growth falls sharply, missing target

China's economic growth slowed significantly in the second quarter, falling short of its annual target due to weak domestic demand and the impact of the Iran war on oil prices, despite strong exports.

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business4d ago

Seven insurers fail to file mandatory returns, face IRA scrutiny

Seven insurance companies are under scrutiny by the Insurance Regulatory Authority (IRA) for failing to submit mandatory quarterly returns. This non-compliance prevents the regulator from assessing their financial performance and industry compliance.

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business4d ago

Safaricom stake sale to lift Kenya’s forex cover to seven months

Kenya's foreign exchange reserves are set to significantly increase following the government's sale of its Safaricom stake, boosting the country's import cover.

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business4d ago

Kenya eyes Sh646bn investments through planned carbon exchange

Kenya is gearing up to attract an estimated $5 billion (Sh646 billion) in investments by 2028 through the establishment of a planned carbon exchange and enhanced carbon trading regulations.

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business4d ago

Investors turn to ageing commercial buildings for higher returns

Investors in Kenya are increasingly opting to refurbish older commercial buildings rather than invest in new developments, driven by a growing demand for sustainable and energy-efficient spaces.

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business5d ago

Form imejipa na County rewards its first Sh1mn winner

Kenya Wine Agencies Limited (KWAL) has announced the first Sh1 million winner in their "Form Imejipa Na County" consumer promotion, which aims to award over Sh35 million in prizes.

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business5d ago

EPRA keeps fuel prices unchanged in July review

The Energy and Petroleum Regulatory Authority (EPRA) has announced that fuel prices will remain unchanged for the period of July 15, 2026, to August 14, 2026.

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business5d ago

Dollar-millionaires in Kenya grow 20pc, Knight Frank report

The number of dollar-millionaires in Kenya saw a significant increase of up to 20 percent in 2026. This growth is highlighted in the latest Knight Frank Wealth & Investment Trends report.

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business5d ago

Singapore court orders Bloomberg to pay $356,000 to ministers in defamation case

A Singapore court has ordered Bloomberg and one of its reporters to pay S$460,000 ($356,000) to two ministers in a defamation case over an article on property transactions.

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business5d ago

Kenya’s ultra-rich favour local investments over UK, South Africa

Kenyan high-net-worth individuals (HNWIs) are prioritizing local investments over those in the United Kingdom and South Africa, driven by market familiarity and emerging opportunities.

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