Business

South African lender Nedbank Group has submitted a tender offer to purchase approximately 66 percent of NCBA Group’s ordinary shares, which would give Nedbank a controlling interest in the Kenyan financial services company if the deal goes through. The remaining 34 percent of NCBA shares would continue to be traded …

The Kenya Sugar Board (KSB) has reassured Kenyans that sugar prices will remain stable, despite recent production challenges that have raised concerns about supply. In a statement on Thursday, January 22, KSB CEO Jude Chesire said the country’s sugar supply is secure, even as demand grows due to population increases, …

Safaricom has reassured the public that it will continue to be a Kenyan-owned and operated company, stating that the planned sale of some shares will not affect its day-to-day operations, governance structure, or regulatory oversight. Speaking before the Joint Parliamentary Committees on Finance and National Planning, and Public Debt and …

The Safaricom Dealer Association has expressed concerns that the government’s plan to sell a portion of its stake in Safaricom to Vodacom could undermine the dealer-based network that has been central to the company’s nationwide distribution model. The government is reportedly in the final stages of selling a 15 percent …

Uchumi Supermarkets has resumed operations at two Nairobi outlets, signaling a renewed push into Kenya’s retail sector. The retailer has relaunched its branches at Unicity Mall along Thika Road, near Kenyatta University, and at Lang’ata Hyper off Lang’ata Road. The reopenings mark a gradual return following a period of restructuring. …

The Kenya Revenue Authority (KRA) has instructed all Uber drivers to submit a valid KRA Personal Identification Number (PIN) certificate in line with new tax compliance rules. In a notice shared with drivers, Uber said the requirement is intended to help the company support driver compliance with existing tax laws …

Uber has suspended Visa card payments on its Kenyan platform, citing rising global costs of payment processing. A company spokesperson explained that Uber regularly reviews payment methods in each market to manage costs while minimizing disruption for users. “We routinely assess payment options on a market-by-market basis to keep costs …

Kenya Airways (KQ) is preparing to bring back a Boeing 777 aircraft currently on sub-lease to Turkish Airlines as part of its plan to expand network capacity and support its recovery strategy. In an interview with AeroTimes, KQ Acting Group Managing Director George Kamal said the airline is in advanced …

A leading tax policy expert is urging a review of the Finance Act 2023’s electronic invoicing (eTIMS) requirements, warning that tying tax-deductible expenses strictly to eTIMS compliance could unfairly penalize businesses—especially Micro, Small, and Medium Enterprises (MSMEs). Tax analyst Edna Gitachu said the current rules could create a “deductibility crisis” …

Mwananchi Credit, a microfinance institution, has refuted reports suggesting it is facing financial difficulties or failing to pay employee salaries. In an official statement, the company’s senior management confirmed that it remains financially stable and plans to expand operations this year while introducing improved products and services for clients. “All …