CBK CAUTIONS KENYANS AGAINST UNLICENSED MONEY OR VALUE TRANSFER SERVICE PROVIDERS

CBK CAUTIONS KENYANS AGAINST UNLICENSED MONEY OR VALUE TRANSFER SERVICE PROVIDERS

The Central Bank of Kenya (CBK) has cautioned Kenyans to be wary of entities and persons providing Money or Value Transfer Services (MVTS) without authorization from the monetary authority. In a statement to newsrooms on Monday, CBK said that it has noticed a sprouting wave of unlicensed entities providing MVTS, posing huge losses on customers and it is a criminal offence. "Such services do not enjoy the protection of the […]

November 7, 2023 2

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KAA LAUNCHES ELECTRIC BUSES TO PLY JKIA ROUTE

The Kenya Airports Authority (KAA) has launched new bus routes from JKIA to several destinations in Nairobi. KAA, in partnership with bus service companies Metrotrans East Africa Limited & Super Metro unveiled electric commuter buses, and lauded the move as a headway towards sustainability and conserving the environment. "These electric buses mark a significant stride towards sustainability, perfectly aligning with the National Government's strategic goals. We're committed to adopting green […]

November 2, 2023 1

Business

LAST-MINUTE NEW BOLT LICENCE BLOCKS LITTLE CAB BUYOUT BID

Taxi-hailing firm Little Cab has dropped its bid to buy out rival Bolt after the Estonian firm was granted a last-minute licence renewal, lifting the lid on the fierce battle for control of the industry and the behind-the-scenes lobbying triggered by a licensing stalemate with the transport regulator.

November 1, 2023 1

Business

Rai opens a new sugar plant

PHOTO: COURTESY At least half of the sugar produced in Kenya is now controlled by one man after the billionaire Rai family opened their fourth milling plant in Bungoma. Naitiri Sugar Company which started milling in May is the new addition to the family’s sugar conglomerate that now spans the country. The new plant extends Rai’s position as the leading sugar manufacturer from a combined capacity of his existing […]

July 21, 2022 113

Business

Expensive fuel looms as IMF drops support for subsidy

PHOTO: COURTESY IMF has set a fresh loan condition requiring Kenya to drop fuel subsidy by October, exposing motorists to a sharp rise in pump prices. Kenya has since April last year spent an average of Sh7.65 billion monthly to subsidise diesel, super and kerosene, highlighting the adverse impact of the fuel stabilisation programme on the country’s revenues. The multilateral lender has inserted the removal of the subsidy […]

July 21, 2022 32

Business

Where Kenya’s super-rich are migrating to for investments

Wealthy Kenyans are seeking second homes in St Kitts and Nevis, a two-island county in North America. Its education system is better, it is affordable to get citizenship because the investment requirement is fairer than in other countries and it is crypto-friendly hence attractive to technology investors and entrepreneurs. Henley & Partners, a leading international citizenship and residence advisory firm, says in 2022 Kenyans are showing interest […]

July 21, 2022 11

Business

president Kenyatta halves the cost of maize flour

photo: courtesy The cost of maize flour, used to make Kenya's staple food, has been cut in half less than three weeks before general elections. The measure aims to deal with the rising cost of living that has seen prices of basic commodities soar. A 2kg (70 oz) packet of maize flour will now retail at KSh100, instead of KSH 200. Critics say Mr Kenyatta is using the measure […]

July 21, 2022 3

Business

Keroche tax row headed back to court

PHOTO: COURTESY The cash crisis facing Kenya’s second-largest beer maker Keroche Breweries has deepened after it defaulted on a tax repayment plan and ran into salary arrears by more than two months. Trouble at the Naivasha-based brewer became apparent in December when it was shut down by officials of the Kenya Revenue Authority (KRA), but the matter was quietly resolved during the festive season. Last week, KRA officials were […]

July 21, 2022 14

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