Business

President William Ruto has declared the prohibition of muguka in Mombasa and Kilifi counties ineffective, asserting that muguka is officially recognized under the Crops Act 2013 and the Miraa Regulations 2023. These regulations, ratified by both the National Assembly and the Council of Governors, mandate government support for muguka’s cultivation, …

The Kenya Revenue Authority (KRA) has announced an extension of its operational hours starting from June 3 until June 30. This decision aims to facilitate tax return filing before the deadline on June 30. During this period, the Tax Service Offices will operate from 7 am to 7 pm on …

Kenya Power’s profit from every Sh100 paid by customers is minimal, according to Managing Director Joseph Siror. He stated that out of this amount, Kenya Power receives around Sh2 or less as profit. Approximately Sh20 goes towards covering the utility firm’s operational expenses, while the majority, about 65%, is allocated …

Proposals in the Finance Bill 2024 indicate a looming 80% increase in cooking oil prices, a move vehemently contested by the Edible Oil Manufacturers Association of Kenya. They argue that the suggested 25% excise duty on vegetable oils, part of the proposed bill, would create an unbearable financial burden for …

Mobile money transactions surged to KSh5.5 trillion in 2023, as reported by the Kenya National Bureau of Statistics (KNBS). The National Economic Survey for 2024 highlighted a decline of 600,000 mobile money subscribers within the country in the preceding year. The survey indicated a reduction in the total number of …

In 2023, Kenya’s GDP surged to Ksh.15.1 trillion, marking a growth of 5.6 percent compared to 4.9 percent in 2022, as per the latest data from the Kenya National Bureau of Statistics (KNBS). This increase pushed Kenya’s GDP per capita to $2,097. Key contributors to this growth included industries like …

NICCO Movers Ltd, under the leadership of Director John Kiambo, has taken delivery of the second batch of eight buses, part of a larger order of 30 vehicles. This acquisition is financed by Co-operative Bank and facilitated by Thika Motor Dealers, represented by General Manager of Sales & Marketing, Mr. …

Equity Bank Group saw a significant 25.2% increase in its Q1 profit, reaching Sh16 billion, attributed mainly to robust growth across its subsidiaries. The bank’s MD and CEO, James Mwangi, credited this growth to strong leadership decisions and a flexible balance sheet. ALSO READ: KCB Shifts Focus to Gor Fixture After …

Kenya Railways has announced the recommencement of commuter train services on specific routes within Nairobi. The service, which had been temporarily halted due to heavy rains and subsequent repair works, will resume on routes including Embakasi Village, Lukenya, SGR Link, and Syokimau starting Tuesday. ALSO READ: Kenyan Airways Employee Detained in …

Kenya is aiming to secure private sector partnerships to extend the Standard Gauge Railway (SGR), ensuring smooth movement of goods across the East African Community borders. Kipchumba Murkomen, the Cabinet Secretary for Roads and Transport, highlighted plans to establish special economic zones along the corridor, promising urban transformation in these …