Chinese State Owned XCMG opens its first African direct spare parts center in Kenya
Chinese multinational state-owned, heavy machinery manufacturing company XCMG has opened its first direct regional spare parts center in Kenya to serve business in East Africa. The Center is a collaboration with TISCO Construction [...]
KRA Records 9.6 Percent Revenue Growth
Kenya Revenue Authority says its overall revenue for the first half of financial year 2017/18 grew by Sh62.5 billion to Sh712.2 billion from Sh649.7 billion recorded in the previous year. [...]
Safaricom launches a Music Streaming App
Safaricom has launched a music streaming android App dubbed “SONGA by Safaricom” saying this will offer an additional platform for local artistes to sell their music. “We are excited to launch yet [...]State Finds Solutions for Its 3 Struggling Banks
Since 2008, the plans to merge National Bank, Consolidated Bank, and Development Bank have failed. Before the merger plans, the Privatisation Commission had submitted comprehensive proposals for the sale of [...]Court stops construction of SGR Phase 2A
High-ranking officials at the Kenya Railways Corporation and China Bridge and Road Corporation have been taken to court for constructing the railway line via Nairobi National Park. According to an [...]Deacons to Close Four Stores in Nairobi few days after Selling Mr Price Franchise
Deacons East Africa, the Kenya-based company engaged in retailing of franchise products has announced plans to shut down four of its stores in some malls in Nairobi this year. The stores [...]Kenya's BitPesa acquires TransferZero, European online money transfer service
BitPesa, the blockchain payments platform launched in Nairobi in 2013 has announced their acquisition of TransferZero, an international, online money transfer platform that specializes in sending money to consumers and companies [...]How Inuka na SME Program seeks to empower businesses
Small businesses form a critical part of the Kenyan economy. In addition to creation of employment, SMEs play as the feeders to larger industries with raw materials and services while [...]Bamburi Cement appoints Seddiq Hassani as new MD
In a notice dated 9th February 2018, Bamburi Cement Ltd announced that it has appointed Seddiq Hassani as a member of the Board of Directors and the Managing Director of [...]Fitch Revises Kenya's Outlook to Stable; Affirms at B+'
A few weeks before the 2017 August 8th elections, Fitch Ratings had affirmed Kenya’s ratings at ‘B+’ and said that the outlook remained negative. However, in February 2018, the rating [...]Kenya’s Tourism Sector Recorded 20.3% Growth In 2017
Kenya’s tourism sector recorded a double-digit rise in earnings in 2017 to record just under KSh. 120 billion in revenue receipts. This denotes a 20.3 percent growth in review compared [...]Tullow's 2017 Results Target Proposed First Oil for 2021/22
Tullow Oil plc (Tullow), the independent oil and gas exploration and production group, has announced its full-year results for the year ended 31 December 2017. Mark MacFarlane, Executive Vice President [...]
