Business
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Saccos Urged to Invest in Product Development to Remain Competitive
Savings and Credit Cooperative Organizations (SACCOs) have been encouraged to increase investments in product development and embrace new technologies to withstand growing market competition, especially from commercial banks. According to Cooperative Bank of Kenya Vice Chairman Macloud Malonza, commercial banks have increased product development efforts, aggressively targeting all depositor categories, especially those in formal employment.…
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Uganda Airlines Launches Direct Flight From Kampala to London
Uganda Airlines has officially launched direct flights between Entebbe International Airport and London Gatwick Airport. The route will operate four times a week on Sundays, Tuesdays, Wednesdays, and Fridays with same-day return departures from London. Operated by Uganda Airlines’ state-of-the-art Airbus A330-800neo, the new long-haul service promises enhanced comfort, fuel efficiency, and an improved passenger…
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Janeth: My Journey of Building Two Businesses While Raising a Family
Running a business as a woman and at the same time having a young family to take care of isn’t easy. For Janeth Soinato, her failed job hunting led her to business as she looked for a way to earn a living thanks to her supportive partner. Soinato was born in Isinya, Kajiado in a…
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Parents Urged to Embrace Financial Literacy to Fight Poverty
Kenyans have been urged to prioritize financial literacy as a major approach to improve household stability and support children’s education across informal settlements. Speaking during an event held in Kajiado County, CFK Africa Program Manager Mediatrix Tuju emphasized that financial literacy is crucial in ensuring households get daily requirements including food and even education for…
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CBK Clarifies It Has No Plans to Reintroduce Interest Rate Caps
The Central Bank of Kenya (CBK) has moved to dismiss speculation over a possible return to interest rate caps, clarifying that its recent consultative paper on risk-based credit pricing does not propose the revival of the controversial policy. In a statement released after the close of public submissions on the Consultative Paper on the Review…
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KRA Uncovers Sh4.6 Billion VAT Fraud Scheme
The Kenya Revenue Authority (KRA) has uncovered a widespread scheme involving fraudulent invoicing and tax evasion, which has led to significant revenue losses for the government. The revelation follows a probe into abuse of the Value Added Tax (VAT) system, particularly through non-remittance and manipulation of tax obligations. In a stern response, KRA announced that…
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Workonline Launches New Internet Hub at iColo Nairobi
Workonline Communications has set up a new internet hub at iColo’s NBO1 data centre in Nairobi, advancing its expansion drive across East Africa. The POP, which strengthens internet scalability, redundancy, and resilience in the region, comes at a time when Kenya’s internet penetration has reached 48 percent, with over 27.4 million users recorded in early…
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Stanbic Bank Announces Profits After Tax for Q1 2025
Stanbic Bank has announced a profit after tax of Sh3.3 Billion for the first quarter ending March, 31st 2025. The Bank has attributed the Q1 performance to a shift in year-on-year macroeconomic dynamics and base effects which have temporarily impacted growth momentum. The bank said that the Net interest income grew by 5 percent on…
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Meet South Africa’s Retail Founder Of The Year 2024 – Foya Awards
Growing up in South Africa, Tshepo Namate always dreamed of becoming an entrepreneur. Business was in his blood, which led him to open a car wash while still in high school. In addition to running the car wash, Tshepo also sold cookies in his neighborhood. These early ventures laid the foundation for his rise to…
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Kenyans Resort To Open Businesses Amid The Tightening Economy
A report by Tala MoneyMarch 2025 found a 7 percent increase in the number of people owning businesses across the country, with financial challenges fueling this trend. The report further found that 9 in 10 Kenyans surveyed reported having experienced financial challenges in the last six months underscoring the rising cost of living, with a…
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How University Student Built A Thriving Cake Business While Studying
From a young age, Sharon Nyaga loved cakes. Growing up in Embu County, her mother used to bake birthday cakes for her. Unknown to her was that fate would lead her to baking business in the future. “I really loved cakes,” she recalls. “Watching my mom bake for my birthdays and seeing wedding cakes always…
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How I Built A Thriving Crochet Business During The Pandemic
While Covid-19 pandemic was forcing people to close businesses in 2020, Ivy Ayoti’s business, Just Divyne Crochet found a fertile ground to thrive. Having to stay at home all time due to lock-down reminded Ayoti that she had a skill in crocheting and soon enough she began making crochet products. “When covid came and forced…
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5 Mistakes That Start-up Founders Make During The Early Days
In business there is no one-size-fit-all template to follow to ensure success. Most of the time it’s trial and error until you find a product-market fit for your business to grow exponentially. However there are some mistakes that many first-time founders make which prevent them from making the right decisions. Here are some of the…
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7 Simple Steps On How To Start A Business In Kenya
Starting a business is not as hard as many people coin it to be, but that doesn’t mean it’s a walk in the park either. If you have the courage to make the first move, the rest will follow. You don’t need to know all steps, all you need is some knowledge and the right…
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Why Nairobi County Banned Hawking in CBD
After the county government of Nairobi made a decision to ban hawking activities in the main streets in the Central Business District (CBD), many people are questioning the justification of the ban. The ban came as a result of complaints from the public about the congestion on the sidewalks that makes it difficult to navigate,…
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The Future of Fintech in Africa: Innovations, Challenges and Opportunities
Financial Technology (Fintech) has revolutionized the world economy in incredible ways. With AI, Fintech is itching for exponential change that will overhaul how monetary transactions are undertaken. In Africa many fintech companies have sprouted as the continent begins to fully embrace technology. What are fintechs in Africa Fintechs are softwares that seeks to make financial…
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