Latest from Nation Business

business13h ago

Mobile money transactions decline to a 34-month low

The value of mobile money transactions in Kenya has fallen to a 34-month low, reaching Sh633.35 billion in February. This marks the lowest point since April 2023, signaling a significant shift in payment patterns.

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business1d ago

Shifting credit patterns push farmers back to digital loans

Kenyan farmers are increasingly returning to digital lenders for short-term credit, reversing a recent trend of relying on family and friends, according to a Central Bank of Kenya (CBK) survey.

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business2d ago

Kenyan firms lower growth outlook on inflation fears

Kenyan firms are scaling back their 2026 economic growth projections due to mounting concerns over rising inflation, largely attributed to the Middle East conflict and its impact on oil prices and global supply chains.

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business3d ago

Fuel VAT cut to cost Sh13bn in lost revenue

Kenya's Treasury plans to cut the Value Added Tax (VAT) on fuel by half for three months, a move expected to cost Sh12.9 billion in lost revenue.

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business4d ago

I swapped maize farming for sunflowers and I have no regrets

A retired Education Officer in Elburgon, Nakuru County, has found significant success and satisfaction by switching from traditional maize farming to cultivating sunflowers.

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business4d ago

Cooking gas prices surge by Sh390 in Nairobi

Prices for cooking gas (LPG) have seen a significant increase in Nairobi, with a 13-kilogramme pack surging by up to Sh390.

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business4d ago

Kenya requests World Bank funds to cushion Iran war shocks

Kenya has formally requested financial assistance from the World Bank to mitigate the economic fallout from the recent Iran war, particularly concerning energy imports and rising inflation.

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business5d ago

Counties get key role in Kenya’s push for crop geographic labels

Kenya is set to leverage geographic indications (GI) to enhance the global value of its key agricultural exports, including tea, coffee, and cut flowers, by introducing new legislation that empowers counties.

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business5d ago

CBK: Inflation to hit 6.2pc mark in July

The Central Bank of Kenya (CBK) forecasts inflation to reach 6.2 percent in July, driven by elevated fuel costs and a prolonged Middle East conflict which is impacting global oil supply chains.

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business5d ago

Sick SIC part III: How CEO exits piled on multibillion-shilling woes

The Safaricom Investment Co-operative (SIC) is facing significant financial woes, exacerbated by a series of rapid CEO exits and questionable land deals.

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business6d ago

State eyes hidden mineral economy as artisanal groups ratified

The Kenyan government is formalizing its hidden mineral economy by ratifying hundreds of artisanal mining groups, aiming to capture lost revenues and increase oversight in the sector.

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business6d ago

Pumped up pain: Kenyans feel the heat as businesses go on price increase spree

Kenyans are facing a significant increase in the cost of living as fuel prices have risen sharply, leading businesses across various sectors to immediately hike their own prices.

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business6d ago

Sick SIC part II: Regulator caught flatfooted in Sh2bn mess

Kenya's Department of Co-operative Development is facing criticism for its apparent lack of oversight in the significant financial troubles plaguing SIC Investment Co-operative, despite having a representative on its board.

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business6d ago

Treasury tender over Sh6 billion Telkom shares sparks court battle

A legal battle has erupted over the National Treasury's award of a Sh358 million tender for legal services concerning Kenya's defence in a London arbitration case.

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business6d ago

Treasury PS faces jail over Sh140 million debt

Treasury Principal Secretary Dr. Chris Kiptoo faces a potential six-month jail term for contempt of court after failing to pay a technology firm over Sh140 million.

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business1w ago

Taifa gas signs deal for 49pc stake in PanAfrican Energy

Taifa Gas has entered into an agreement to acquire a 49% stake in PanAfrican Energy, a significant gas producer in Tanzania.

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business1w ago

Fuel shocker: Prices jump by up to Sh40 per litre

Fuel prices in Kenya are set to experience a significant jump of up to Sh40 per litre starting midnight, driven by escalating global fuel costs and shipping charges exacerbated by the Middle East conflict.

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business1w ago

How SIC Investment Co-operative was crippled

SIC Investment Co-operative is facing crippling losses of up to Sh2 billion due to years of mismanagement and fraudulent practices. This has left thousands of members and customers facing significant financial distress.

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business1w ago

Tribunal backs KPA in Sh1.3bn tenders fight with Finnish firm

The Public Procurement Administrative Review Board (PPARB) has rejected appeals by Finnish firm Kalmar Finland Oy, upholding the Kenya Ports Authority's (KPA) decisions to disqualify the company from two tenders totaling Sh1.3 billion.

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business1w ago

Treasury plans to list 7 more KPA assets for PPP deals

The National Treasury is expanding its public-private partnership (PPP) program by bringing seven more Kenya Ports Authority (KPA) assets under its portfolio. This move aims to attract private investment into key port infrastructure and operations.

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business1w ago

Hidden costs in proposed creative economy law

Kenya's proposed Creative Economy Bill 2026, championed by President William Ruto, aims to bolster the nation's creative sector but introduces significant government oversight and potential hidden costs.

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business1w ago

650,000 names, zero contributions: Only 46 Kenyans raise Sh1m for affordable houses

A significant apathy towards savings is hindering Kenya's affordable housing initiative, with nearly 80 percent of registered individuals failing to make any contributions. This lack of participation poses a major challenge to the fund's objectives.

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business1w ago

KRA bets on tech to bridge tax equity

The Kenya Revenue Authority (KRA) is intensifying its efforts to leverage technology and direct business verification to address a significant gap in tax contributions, as only 40 percent of registered taxpayers actively file and remit taxes.

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business1w ago

Car importers turn to trains as fuel shortage worsens

A fuel shortage in Mombasa has forced car importers to shift from road to rail transport for vehicle deliveries, raising concerns about increased congestion at the port and along supply chains.

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business1w ago

Car importers turn to trains as fuel shortage hits Mombasa

Car importers in Mombasa are now using trains to transport vehicles to hinterland areas as a severe fuel shortage disrupts road deliveries. This shift to rail is a response to difficulties truckers face in sourcing diesel, raising concerns about increased congestion at the Mombasa port.

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business1w ago

Jubilee raises dividends as net profit grows to Sh5.6billion

Jubilee Holdings Limited (JHL) has announced a significant increase in its dividend payout to shareholders, driven by robust profit growth for the year ended December 2025.

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business1w ago

Bad fuel: How excess sulphur and manganese damage engines

Kenya is facing a significant fuel scandal involving the importation of substandard petrol containing excessive sulphur and manganese. These contaminants can severely damage vehicle engines and emission control systems.

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business1w ago

Tribunal shields charities’ investment cash from tax

The Tax Appeals Tribunal has ruled in favour of the Premchandbhi Foundation, a charity group, setting aside KSh24.3 million in withholding tax and KSh72.6 million in capital gains tax demanded by the Kenya Revenue Authority (KRA).

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business1w ago

KRA boss Wattanga ousted

Humphrey Wattanga has been ousted as Commissioner-General of the Kenya Revenue Authority (KRA), just four months before his term was set to end. The tax agency announced Wattanga will go on terminal leave immediately.

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business2w ago

CS Wandayi: Kenya rejected 60,000-tonne super petrol cargo

Kenya has rejected a 60,000-tonne cargo of super petrol, preventing a potential Sh14/litre price increase for consumers. The rejection was ordered by Energy and Petroleum Cabinet Secretary Opiyo Wandayi.

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