Business News
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Uber, Bolt Drivers Plot Biggest Strike Over Unfair Prices
Ride-hailing drivers working with platforms including Uber, Bolt, Farasi, Yego, WEEGO and Little Cab have accused the firms of unfair practices, warning that they will resort to strikes and demonstrations if their demands are not addressed within seven days. Under the Amalgamation of Digital Taxi Transport Organisations Kenya have begun a 40-day campaign pushing for…
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EAC Cracks Down on Big Mergers – New Rules Start Nov 1
The East African Community (EAC) Competition Authority has announced the commencement of receipt of notifications for mergers and acquisitions with cross-border effects within the bloc, effective November 1, 2025. The move follows the provisions of the East African Community Competition Act, 2006, which empowers the Authority to receive merger notifications, review, approve, or remedy cross-border…
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Direct Flights to Riyadh from Nairobi Launch Soon with Low Fares
Saudi low-cost carrier Flynas will launch three weekly direct flights between Riyadh and Nairobi from October 2, 2025, marking its latest expansion into Africa. The move aligns with the airline’s expansion strategy as well as Saudi Arabia’s broader national agenda to boost connectivity in tourism and aviation. “This connection reinforces our commitment to making travel…
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$4M Boost to Poa Internet – Affordable WiFi Coming Your Way
Finnish development financier Finnfund has signed a Sh516.8 million ($4 million) debt investment agreement with Kenyan internet service provider Poa Internet to expand its network and improve access to affordable broadband in underserved communities. The investment, supported by the European Union (EU) and the European Fund for Sustainable Development Plus, aims to bridge Kenya’s digital…
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New CBK Loan Pricing Model Could Change Borrowing Forever
The Central Bank of Kenya (CBK) has announced the issuance of a revised Risk-Based Credit Pricing Model (RBCPM) for the banking sector, following a wide-ranging consultation process with industry players and stakeholders. The new model, which takes effect on September 1, 2025, for new variable rate loans, is aimed at strengthening monetary policy transmission, enhancing…
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Why Banks Might Lend More to Private Sector
After seven consecutive cuts on lending rate by the Central Bank of Kenya (CBK) from 13 percent in February 2024 to 9.5 percent in August, banks have seen their interest income shrink. Coupled with low private sector credit and high non-performing loans (NPLs), the banks are now struggling with CBK’s lending rates. The half-year results…
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Kenya Airways Takes Loan Route to Boost Fleet – Here’s Why
Kenya Airways (KQ) announced on Tuesday that it plans to raise at least Sh64.5 billion in additional capital to expand and modernize its fleet by the first quarter of next year. The carrier, ranked among Africa’s top three airlines, reported a pretax loss of Sh12.17 billion ($94.34 million) for the first half of the year,…
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Kenya Airways Returns to Losses as Operational Hurdles Mount
Kenya Airways (KQ) has slipped back into losses in the first half of 2025 following the grounding of three aircrafts and supply chain setbacks that derailed last year’s recovery. The national carrier made a net loss of Sh12.15 billion, reversing from Sh513 million profit after that in the first quarter of 2024. KQ said the…
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Unlocking SME Potential Through Strategic Partnerships
Stakeholder outreach to small businesses, regulators, lobby groups, and financial partners has unveiled significant opportunities for enhancing the resilience and sustainability of small and medium enterprises (SMEs) during challenging economic times. By engaging in collaborative business caucuses, these small players are able to tap into expert advice, share effective coping strategies, and forge meaningful connections…
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Kenya Mulls Repaying Chinese Loan in Yuan. Here’s Why
Kenya is negotiating with China to convert dollar-denominated loans into Yuan and extend repayment periods in a move aimed at cutting its $1 billion (Sh129 billion) annual debt service costs, Treasury Secretary John Mbadi has said. The talks, focused on financing for the $5 billion (Sh645 billion) Standard Gauge Railway (SGR), are intended to create…
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Stanbic Bank Appoints New Regional Chief Executive for East Africa
Stanbic Bank has appointed Dr. Joshua Oigara as its new Regional Chief Executive (RCE) for East Africa, effective September 1, 2025, subject to regulatory approval. Dr. Oigara, who currently serves as Chief Executive of Stanbic Bank Kenya, will take on the additional regional responsibilities while retaining his current role. “We are pleased to announce the…
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Henbon Unveils Sixth Housing Project in Nairobi as Demand Rises
Chinese property developer Henbon has unveiled Diamond Bay Suites, its newest residential project in Nairobi’s Westlands as the appetite for modern housing continues to surge. The launch marks Henbon’s sixth project in the capital city. The latest project offers one and two-bedroom apartments with prices starting from Sh8.8 million, depending on size of the floor.…
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Trianum Targets East African Expansion as it Marks 15 Years
Apartment hotel chain Trianum Hospitality is planning to expand its operations across East Africa as it marks its 15th year in business. Co-founder Samantha Muna said the company will rely on global brand partnerships to strengthen market distribution and improve the value of its managed properties. “Leveraging global brand partnerships is one of key strategies…
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Safaricom Wins Top Digital Technology Award at CIPS Africa 2025
Safaricom has won the award for Best Use of Digital Technology at the Chartered Institute of Procurement and Supply (CIPS) Africa Excellence in Procurement and Supply Awards 2025. The accolade recognizes the company’s Artificial Intelligence (AI)-powered Supply Market Analysis initiative, which provides real-time insights into supplier landscapes, cost structures, competition, market trends, and commodity risks.…
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Kenya Airways Counts Losses After Grounding of Two Planes
Kenya Airways (KQ) says it has lost billions of shillings after two of its Boeing 787 Dreamliner planes were grounded, making it harder for the airline to recover. KQ CEO Allan Kilavuka said the loss which is about $15 million (Sh1.95 billion), came after spare parts from big manufacturers like Boeing were delayed. This forced…
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ViFi Labs Acquires Uganda’s OneRamp to Boost Stablecoin Payments Across Africa
ViFi Labs, a decentralized protocol focused on foreign currency and stablecoin trading, has acquired OneRamp, a leading stablecoin payments platform serving emerging markets in Africa. OneRamp enables users to make everyday payments. Founded by Ugandans Elias Hezron Opio and Jovan Mwesigwa, OneRamp simplifies stablecoin use by connecting crypto payments directly to mobile money and banking infrastructure. The platform currently…
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ShafDB Gets $120M Boost from BADEA to Spur Affordable Housing
Shelter Afrique Development Bank (ShafDB) has received support of up to $120 million from the Arab Bank for Economic Development in Africa (BADEA) to boost its financial strength and operational capacity. Shelter Afrique Development Bank has been a front-runner in providing affordable housing and urban development. By offering resources on more favorable terms, member states…
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Tanzania’s Business Ban Could Hurt Regional Economy – Trade CS Warns
Hundreds of Kenyan traders face an uncertain future after Tanzania instituted a ban barring foreign nationals from operating small-scale businesses, in a move aimed at protecting local businesses. The directive has sparked concern over its potential impact on regional trade and diplomatic relations. Announced on July 28 by Tanzania’s Industry and Trade Minister, Selemani Jafo,…
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Women Entrepreneurs Unveil Pan-African Trade Network
Africa Women in Business have unveiled a new association aimed at promoting intra African trade. The Continental Network for Women Businesses in Africa (CONWOBAA) was unveiled last week at a global SME ministerial meeting that was held in Johannesburg, South Africa. The meeting saw the attendance of over 102 women businesses across 6 regions of…
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How KRA Recovered Sh86 B Under Tax Dispute Resolution Program
The Kenya Revenue Authority (KRA) has announced the recovery of Sh86.5 billion through its Tax Dispute Resolution programme. According to a statement by the taxman, the funds were unlocked through a mix of independent reviews, including the Alternative Dispute Resolution (ADR) mechanism and successful court litigation. “During the review period, Sh18.9 billion was collected through…
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