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Business

President Uhuru approves 5 pct capital gains tax

16 September 2014, 08:47

President Uhuru Kenyatta has signed into law a 5 percent capital gains tax that investors say could affect investment in property, equities and the country's nascent oil and mining sectors.

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Central bank to mop up KES 20B in liquidity

15 September 2014, 19:01

The Central Bank is looking to mop up KES 20 billion in liquidity, it has announced.

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No more siphoning of workers’ money from NSSF, says Atwoli

15 September 2014, 17:29

COTU Secretary General, Francis Atwoli, has lauded President Uhuru Kenyatta for assenting to the Finance Bill saying it will curb siphoning of workers’ money from the National Social Security Fund (NSSF).

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Government keen on expanding tea, coffee markets

15 September 2014, 13:47

The government is confident that tea and coffee markets will improve despite having recorded low returns last season.

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Airtel Money Premier VISA card unveiled

15 September 2014, 11:45

Airtel has unveiled an Airtel Money Premier VISA card that will enhance Premier customers experience and convenience on the company’s mobile money and banking services and ensure that they get added value.

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Prices of petrol, diesel fall: ERC

15 September 2014, 11:31

Energy regulator ERC has cut retail prices of diesel, petrol and kerosene to reflect lower import costs, in a move likely to temper rising inflation.

Will Apple's digital wallet kill the card swipe?

14 September 2014, 10:37

Will Apple Pay be the tipping point to make people switch their wallets for their phones?

Tanzania receives $565m to expand port

13 September 2014, 09:03

Tanzania signed a $565m deal with the World Bank and other development partners to expand its main port of Dar es Salaam.

10 Western Counties form regional tourism body

12 September 2014, 08:32

A regional tourism body comprising the 10 counties from the former Western and Nyanza provinces has been formed to help in a collective marketing strategy for the region.

Mumias Sugar full-year loss widens on lower prices

12 September 2014, 07:24

Mumias Sugar reported a wider loss before tax of 3.4 billion shillings ($38.31 million) in 2014, from 2.2 billion shillings last year, blaming weaker sugar prices.

World Bank plans more investments in Kenya in 2014

12 September 2014, 07:00

The World Bank's lending arm, the International Finance Corporation (IFC) has announced plans to invest about 300 million U.S. dollars in Kenya, praising the country's thriving economy.

African CEOs optimistic about growth despite challenges on the continent

11 September 2014, 14:22

‘The Agenda’ compiles results from 260 CEOs in Africa and includes insights from business and public sector leaders from 18 countries.

UN gives $3.8 million for flights in Ebola areas

11 September 2014, 11:41

UN allocates $3.8 million to support a UN air service operating in Ebola-struck West Africa.

Rift Valley Railways secures funds for locomotives

11 September 2014, 07:25

East Africa's Rift Valley Railways, operator of the only rail line linking Kenya's Indian Ocean coast with Uganda, said it had funding of 2.2 billion Kenyan shillings to buy 20 locomotives to be delivered by next April.

Mumias Sugar warns of wider annual loss

10 September 2014, 13:05

Mumias Sugar warned that projected losses for the year to June 2014 would be bigger than the previous year's pretax loss of 2.24 billion shillings.

Kenya, Norway to ink deal on petroleum management

10 September 2014, 07:10

Kenya and Norway are set to sign an agreement on the management of petroleum resources, which will enable 22 Norwegian firms to invest in Kenya after having identified projects and opportunities.

Insurance agents want banks barred from engaging in bancassurance

09 September 2014, 13:41

Insurance agents in the country have said commercial banks should be barred from engaging in Bank Assurance business stating that it is against the principles of insurance.

CBK to mop up 8 bln shillings

09 September 2014, 11:32

The Central Bank of Kenya (CBK) said it was seeking to mop up 8 billion shillings ($90.3 million) of excess liquidity.

Tanzania tax body shelves plans to review mining, gas contracts

09 September 2014, 07:52

Tanzania's tax authority has scrapped plans to review mining and gas contracts, after its announcement of the move last week rattled investors in the country's rich gold and natural gas resources.

Facebook targets advertisers as 100 million log on in Africa

08 September 2014, 14:57

One in 10 Africans are logging on to Facebook every month, the world's No.1 online social network said, presenting a new target audience for advertisers.

Uchumi Supermarkets full year pretax profit falls 7 pct

08 September 2014, 10:29

Uchumi Supermarkets said that profit before tax in the year to June fell 7 percent, blaming competition and supply challenges in Uganda and the cost of investment in new branches in Kenya and Tanzania.

Kenya, China set to sign MOU on tourism

07 September 2014, 09:17

The Kenyan and Chinese governments are set to sign a Memorandum of Understanding on cooperation in tourism as part of the renewed effort to attract visitors from the Asian nation.

Dangote's accounts with 20 banks frozen

06 September 2014, 11:09

A Federal High Court has temporarily frozen at least 20 accounts belonging to Sani Dangote, a brother to billionaire businessman Aliko Dangote, over his alleged failure to pay a KES 2.8 billion obtained from Union Bank.

Financial Indicators

KES/$ 0.0112 (0%)
KES/£ 0.0069 (0%)
KES/€ 0.0087 (0%)
KES/ZAR 0.1244 (-0.81%)
ABRI Kenya Index 160.72 (0.8%)
NSE 20 Share Index 5182.98 (0.26%)

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