Business News
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Dubai Firm to Build Major EV Plant at Olkaria Green Park
Dubai-based Aquilastor Corporate Investment Company has unveiled plans to invest Sh19.4 billion ($150 million) in the construction of an electric vehicle (EV) assembly plant at the Olkaria green energy park in Naivasha. Once complete, the facility is expected to produce at least 50,000 electric and hybrid vehicles annually. Speaking during the groundbreaking ceremony, Aquilastor Group…
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Pay TV Subscribers Drop as CA Changes Metrics
The Communication Authority of Kenya (CA) has changed how it measures Tv subscription by shifting from the previous used cumulative sign ups to active subscription a bold move that has been used to generate revenue for the last 90 days According to the latest data for Q4 2024/25, the active subscribers numbers stood at 1.48…
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Kenya Rakes in Billions from Global Digital Giants
Kenyan has received a total Sh2.3 billion from foreign digital services providers, of which Sh200 million has been collected under the new Significant Economic Presence (SEP) frame work. However, the majority of the total income collected came from the Digital Service tax (DST) that was used before hand, which was introduced back in June 2020…
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KRA Launches USSD Code to Ease Tax Services for SMEs
In a bid to make tax services accessible to small businesses the Kenya Revenue Authority (KRA) has rolled out a USSD that will enable taxpayers to access tax services without internet connectivity. KRA acknowledges that not every taxpayer in the country has access to digital devices, stable internet and digital literacy to use the internet-based…
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M-Pesa Regains Edge as Kenya’s Mobile Money Growth Stalls
Kenya’s mobile money market has reached a saturation point as of June 2025, with total subscriptions hitting 47 million, according to the Communications Authority of Kenya (CAK). Safaricom’s M-Pesa slightly increased its market share to 90.9 percent,while Airtel Money held steady at 9.1 percent marking a pause in the competitive momentum that had defined the…
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Employee Wellness Success Earns Absa Interbank Games Spotlight
As the workplace becomes more dynamic and complex, employee wellness has become crucial for sustained company success. McKinsey estimates that improving employee health and well-being could raise global GDP by 412 percent in middle- and high-income economies, a signal that this is not just an HR issue, but an economic one. At Absa, employee wellness…
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KNCCI Strikes Deal to Open U.S. Market for Kenya’s SMEs
The Kenya National Chamber of Commerce (KNCCI) has signed a Memorandum of Understanding (MoU) with South Carolina African American Chamber of Commerce (SCAACC) to expand trade, investment and economic cooperation between Kenya and the United States. In the agreement, the two chambers of commerce will collaborate in exhibitions and trade fairs, to facilitate Kenyan enterprises…
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Airtel Launches the Biggest Data Centre to Boost Digital Growth
Airtel has officially launched construction of East Africa’s largest data centre, a project aimed to redefine the region’s digital infrastructure. Through its data centre subsidiary, Nxtra by Airtel Africa, the company broke ground at Tatu City, Nairobi, unveiling plans for a 44-megawatt (MW) facility purpose-built for cloud and AI services. The Nxtra Data Centre is…
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Mantrac Kenya Turns 100, Commits to Fueling Growth
Mantrac Kenya, the sole authorised dealer of Caterpillar equipment in the country, has marked its 100 years of operations in Kenya. Speaking during the celebration at Mantrac headquarters Nairobi, Nigel Lewis, Chief Operating Officer of Mantrac Group, said the company’s century-long presence in Kenya has fueled the country’s growth through provision of equipment across key…
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Why Kenya Re Suspended its Managing Director
Kenya Reinsurance Corporation Limited (Kenya Re) on Thursday 4th, September 2025 a change in its executive leadership after the company’s board revealed the suspension of its current managing director Dr Hillary M. Wachiga for 21 days effective from 3rd September 2025. According to the board the decision came after a pleriminary review of internal matters…
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NALA, Equity Deal Eases Money Transfers for Kenyans Abroad
Tanzanian fintech company NALA has partnered with Equity Bank and PesaLink in a move set to transform Kenya’s multibillion-shilling remittance sector by making money transfers faster, cheaper and more inclusive. Remittances remain a critical source of foreign exchange for the country, rivaling exports and foreign direct investment. According to Central Bank of Kenya (CBK) data,…
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Relief for Borrowers as CBK Approves More Digital Credit Providers
The Central Bank of Kenya (CBK) approved licenses for 27 more Digital Credit Providers (DCPs), bringing the total number of licensed lenders to 153. In a statement released on Thursday, CBK noted that this development follows the licensing of 41 DCPs in June 2025, just three months ago. The regulator revealed that since March 2022,…
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Big Relief for Fintechs as Court Scraps VAT Charges
The High Court has ruled that fintech companies offering payment services are exempted from value-added tax (VAT), overturning an earlier Tax Appeals Tribunal decision in a case involving payments startup Pesapal and the Kenya Revenue Authority (KRA). Justice Rhoda Rutto held that digital payment providers perform functions quivalent to banks dealing a major setback to…
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Kenyans Flock Back to SGR Despite Increased Fares
Standard Gauge Railway (SGR) passenger service has recorded over Sh2 billion in ticket sales in the first half of 2025, marking a strong rebound in the number of people using the public transport system despite fare increases that had previously slightly reduced demand. According to the latest figures released by Kenya Railways Corporation (KRC), the…
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Marula Mining Secures 60% Stake in Kilifi Manganese Project
Marula Mining PLC has completed legal, financial, and technical due diligence on its planned acquisition of a 60 percent interest in Bamba Mining Company Limited, which owns the Bamba Manganese Mining Project in Kilifi County. The company’s board of directors said the review confirmed the project’s strategic importance and long-term value, paving the way for…
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KBA Backs CBK Loan Pricing Reforms to Boost Credit Access
The Kenya Bankers Association (KBA) has welcomed the Central Bank of Kenya’s (CBK) revised loan pricing framework for variable-interest rates, saying the move will expand access to affordable credit for both individuals and businesses. The new formula, announced by CBK on August 26, introduces greater transparency by requiring banks to disclose all components of loan…
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Kenya’s Industrial Investment Pull Diminishes Amid Rising Regional Competition
Kenya’s once-strong appeal to industrial investors is slipping, with a new Knight Frank report revealing a recent decline in the country’s influence as a magnet for manufacturing and industrial capital. The report unveils that Kenya’s industrial rate of return is recorded at 9.5 percent, significantly lower than Uganda’s 13 percent and Tanzania’s 10 percent, raising…
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Liberty Kenya Holdings Appoints Richard Etemesi as New Chairman
Liberty Kenya Holdings PLC has announced a major leadership transition with the retirement of its long serving chairman, Phillip Odera, effective September 7, 2025. The company made the announcement through a public notice on Tuesday, confirming that Mr Odera will step down from both his role as a director and chairman of the board. READ…
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Dangote, Ethiopia Seal $2.5B Fertilizer Investment Agreement
Ethiopia government has signed Fertilizer Complex Shareholder Investment Agreement with Nigeria’s Dangote Group, in a move that is set to transform the country into one of the world’s largest fertilizer producers. Prime Minister Abiy Ahmed Ali announced that the project, valued at $2.5 billion, will have the capacity to produce up to three million metric…
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Think Reading Culture Is Dead? This Kenyan Author Proves You Wrong
Reading culture has been viewed as a dying culture thanks to the advent of technology and social media. But one author, Kimari Kimari, is defying all odds in reviving humanity’s most important culture, both as a tool for knowledge acquisition, promoting cognitive development and cultural understanding. Since mainstream reading has been relegated to small groups…
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