Business

Mobile money services have significantly boosted Kenya’s economy, adding Sh3.1 trillion ($24 billion) to the country’s Gross Domestic Product (GDP), according to a recent report. Click here to join our WhatsApp Channel The study, titled ‘Mobile Money’s Impact on Economic Growth in Five African Markets’, highlights mobile money’s significant impact, …

Commissions earned by Bolt drivers will now be subject to a 16% value-added tax (VAT) following the enactment of the 2023 Electronic, Internet, and Digital Marketplace Supply Regulations. Click here to join our WhatsApp Channel For the past 15 months, Bolt has covered the VAT cost for drivers, helping to …

Equity Group Holdings has achieved a 12% increase in profit after tax, reaching Sh48.8 billion, up from Sh43.7 billion for the year ending December 31, 2024. Click here to join our WhatsApp Channel This growth highlights the continued success of the Group’s diversified business model and sound financial management. The …

Kenya Airways (KQ) PLC has reported a 124% increase in its net profit for the financial year ending December 31, 2024, reaching Ksh 5.4 billion after tax. Click here to join our WhatsApp Channel This marks a dramatic recovery from a loss of Ksh 22.6 billion the previous year, resulting …

Jumia Kenya is intensifying its efforts to incorporate small businesses into the digital economy by organizing a benchmarking tour that provided 30 entrepreneurs with hands-on e-commerce training. Click here to join our WhatsApp Channel The event, held at Jumia’s Nairobi facility, offered valuable insights into e-commerce operations, logistics, and cashless …

MetroTrans EA Limited has issued a notice informing customers and stakeholders that all of its services will be temporarily suspended on Saturday, 22nd March 2025. Click here to join our WhatsApp Channel The suspension is due to a scheduled sensitization program for the company’s drivers, conductors, and staff members, aimed …

Old Mutual Group’s profit after tax surged by 550% to Sh1.3 billion last year, driven by robust performance in its asset management division, underwriting gains from the insurance sector, and returns on invested assets. In 2023, the company reported a net profit of Sh200 million. “Our ongoing strategy is focused …

Safaricom PLC leads Kenya’s mobile broadband market with a significant 63.1% share, as reported by the Communications Authority of Kenya for the period from July to September 2024. Click here to join our WhatsApp Channel Airtel Networks Kenya Ltd. follows with 32.6%, while other providers like Telkom Kenya Ltd. (1.7%), …

The Kenya Pipeline Company (KPC) has announced a profit before tax of Sh10 billion for the financial year ending June 30, 2024, marking a 32% increase from the previous year’s Sh7.6 billion. Click here to join our WhatsApp Channel This growth is attributed to a 15% rise in revenue, from …

The Kenya Railways Corporation has commissioned a technical team to conduct an environmental and social impact assessment in preparation for extending the Standard Gauge Railway (SGR) from Naivasha to Kisumu. As part of the groundwork, the team is evaluating potential environmental and social effects while formulating mitigation strategies in collaboration …