(NAIROBI, KENYA) – Businesswoman Mary Wambui Mungai has failed in her attempt to remove the administrator appointed by Equity Bank to run her Glee Hotel Limited. The hotel owes the bank more than KES 7.75 billion, equal to about 47.8 million US dollars or 37.6 million British pounds. The HighContinue Reading
(NAIROBI, KENYA) – Kenya and Tanzania have restarted efforts to connect their standard gauge railway lines to Uganda, Rwanda and Burundi. Both countries are looking for new ways to pay for the rail projects because public funds are limited. Kenya began work last month on the section of railway fromContinue Reading
(NAIROBI, KENYA) – Absa Group has signed an agreement to sell its majority shareholding in two Kenyan insurance companies to First Assurance Investments Limited, a company linked to Prime Cabinet Secretary Musalia Mudavadi. The South African banking group announced the sale and purchase agreement on Thursday evening. The deal coversContinue Reading
(NAIROBI, KENYA) – Kenya Airways ranked among the bottom 10 airlines globally for punctuality in July, the world’s busiest month for air travel. Its low cost subsidiary Jambojet was among the best 10 performers. The contrast could add pressure on the national carrier as it seeks to improve its competitiveness.Continue Reading
(NAIROBI, KENYA) – Pension fund returns fell to 18.2 percent in the 12 months to June 2026 from 29.4 percent a year earlier. The decline came as performance of fixed income securities dipped on lower interest rates and flat bond prices. Funds administrator Zamara says the average return from fixedContinue Reading
(NAIROBI, KENYA) – Nine small stocks at the Nairobi Securities Exchange have shed KES 2.25 billion in valuation this year. That is equal to $17.4 million or £13.7 million at current exchange rates. The losses run against the general market rally that has handed investors in other companies KES 1Continue Reading
(NAIROBI, KENYA) – The Kenya Revenue Authority has been blocked from demanding taxes on service charge collections by building and estate managers. The ruling follows a four year dispute with Nextgen Mall Management Company. The Tax Appeals Tribunal ruled that Nextgen Mall Management Company only handled funds as a conduitContinue Reading
(NAIROBI, KENYA) – Co-operative Bank of Kenya has posted a 28 percent growth in net profit to KES 18.02 billion in the first half of the year ended June 2026. The growth was driven by increased interest and non-interest income. The profit figure is equal to $139 million or £109Continue Reading
(NAIROBI, KENYA) – The High Court has declined to lift the suspension of Tata Chemicals Magadi Limited’s mining operations. The suspension stems from a licensing and compliance dispute with the government. The court said the suspension imposed by Mining Cabinet Secretary Hassan Joho on 28 July 2026 had already takenContinue Reading
(NAIROBI, KENYA) – Kenyan cryptocurrency startups are considering moving their operations abroad. The move follows new minimum capital requirements that founders say are beyond the reach of many early stage firms. At least five startup founders who spoke to media said they are considering registration in South Africa or Mauritius.Continue Reading
