Economy

On Monday, Bolt revealed a 10% increase in minimum fares in Kenya, aiming to address concerns about driver earnings. This adjustment reflects Bolt’s commitment to fair driver compensation and improving working conditions. According to General Manager Linda Ndung’u, the company has been actively engaging with drivers to understand their challenges. …

Absa Bank Kenya has unveiled plans to expand its agency network to over 17,000 outlets nationwide within the next two years. In the initial phase, the bank will grow its agency network from the current 600 locations to more than 3,000, aiming to enhance its service delivery and extend its …

By: Capital News Kenya has recorded Sh142.5bn tourism revenue in the first half of 2024 marking a 21.3 percent growth compared to the same period in 2023. A total of 1,027,630 international visitors arrived in the country, compared to 847,810 visitors the previous year. Speaking during a tour of the …

Kenya Airways has recorded a Sh513 million profit after tax for half year ended June 30 for first time in a decade. According to Chief Executive Officer Allan Kilavuka, this is a 102pc rise from Sh21.7 billion loss posted last year. He stated that the profit is pegged on reduced …

The Central Bank of Kenya (CBK) has introduced a new series of banknotes for 2024, featuring enhanced security elements, starting with the Sh1,000 note. In a statement released on Wednesday, CBK detailed that the 2024 series banknotes incorporate color-shifting security threads unique to each denomination. The updated notes cover denominations …

Mobius Motors is set to cease its operations in Kenya following shareholder approval for its liquidation. On August 5, 2024, it was decided to liquidate the company in accordance with Section 393(1)(b) of the Insolvency Act. The shareholders also appointed KVSK Sastry as the liquidator to oversee the winding-up process. …

Agriculture Cabinet Secretary nominee Andrew Karanja has issued a stern warning to cartels operating within the Ministry of Agriculture. Emphasising his commitment to integrity, Karanja declared that cartels in Kilimo House will soon be out of business. “The other principle I hold very dear is having the country’s and farmers’ …

CFAO Motors Kenya has undergone a rebranding and is now known as CFAO Mobility Kenya. This strategic change aims to strengthen its identity as a diverse provider of mobility solutions. The transformation aligns with global branding standards set by its parent company, CFAO Group. Under the new identity, CFAO Mobility …

Kenya ranks eighth highest in Africa for its external debt obligations, according to a recent report. The country is one of 23 nations expected to allocate more than 20 percent of their revenue towards paying off external debts. This financial burden has escalated significantly for Kenya, with projections indicating it …

Kingdom Bank inaugurates its 22nd branch in Meru County as part of an expansion initiative that has seen three new branches open this year. This latest branch is strategically positioned to support Meru’s vibrant agricultural community and foster local business growth. Anthony Mburu, Managing Director and CEO of Kingdom Bank, …