Sportpesa Calls it Quits, Blames Kenya's High Taxation
Sports betting firm Sportpesa has closed shop in Kenya citing hostile regulation such as the 20 per cent excise on all betting stakes. The move comes just days after assuring [...]
What You Need to Know About Credit Cards
A credit card is typically a bank card that lets one borrow money and pay it back with interest. They work as a type of loan which gives one credit [...]
Kenyatta’s Statue on New Currency Part of KICC, Rules High Court
The High Court in Nairobi has quashed a petition by activist Okiya Omtatah seeking the removal of Kenyatta portrait on the new currency on grounds that CBK violated the constitution. [...]Unga Group reports 30% drop in profit
Unga Group Limited has released its audited financial results for the year ended 30th June 2019 with a revenue of Ksh 17.9 billion, a 10.4% decrease from the previous year's [...]Treasury Invites the Public to Comment on National Debt Limit Bill
The national treasury is inviting members of the public to submit comments on the Public Finance Management Bill 2015 Amendments. The amendments seek to set a limit on total public [...]ARM Cement's Tanzania Unit Acquired by Chinese Firm as Court Approves Devki's Acquisition of Kenya Business
Athi River Mining's Tanzanian unit, Maweni Limestone was recently bought by Chinese Cement Factory Huaxin Cement. The subsidiary was sold for ksh 11.9 billion. In a statement by the joint [...]Airtel-Telkom Merger Further Delayed by Anti-Corruption Watchdog
The Airtel-Telkom merger faces further delays after the Ethics and Anti-Corruption Commission (EACC) pushed back the deadline for completing its investigation of the deal. The merger, which was first announced [...]Kenya Readmitted to World Rally Championship (WRC) after 18 Years
Kenya’s World Rally Championship (WRC) status is now reinstated. The country is officially back to Safari Rally after the premier motorsport competition fell out in 2002. Safari rally is now [...]Somalia Declines Kenya's Request to Solve the Maritime Border Dispute outside ICJ
President Mohamed Farmajo yesterday declared that Somalia will pursue a solution for the ongoing maritime dispute through the International Court of Justice (ICJ). This is after Kenya sought an out-of-court [...]NSE extends ARM Cement Suspension from Trading to May 2020
The Nairobi Securities Exchange has extended ARM's suspension from the exchange by nine months. The cement company was placed under administration in August 2018 due to financial challenges. Insolvency experts [...]NIC-CBA Merger a Done Deal
Central Bank of Kenya (CBK) has approved the merger deal between the Commercial Bank of Africa (CBA) and NIC Group Plc. effective September 30, 2019. Following the merger, effective [...]Kenya Railways' notice to illegal encroachers
The Kenya Railways Corporation has announced its intentions to reclaim and repossess all the state firm’s land and property illegally acquired by private individuals countrywide. In a public notice, KR [...]
