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BUSINESS

This section give a comprehensive coverage of business news in Kenya – ranging from companies, industry, economy, markets, agriculture and the NGO world.

Total Kenya Launches New Packaging For Lubricants

Total Lubricants: Total Kenya has launched new packaging for its entire range of lubricants that comes with new colours, new labels, and a more...

NBK Delivers 167% Growth in Net Profit For 2020

The bank’s corporate and retail franchises remained resilient in the subdued economy with reduced activity across sectors. During the period, NBK rolled out a raft of interventions to cushion customers from effects of the pandemic for continuity of their businesses and a reprieve from the financial strain. The bank restructured loans to the tune of over Ksh7 billion and waived fees on digital channels. “Even though the pandemic disrupted our plans, slowed our recovery journey, and impacted the business and our people, we still managed to deliver some growth. This is an indication that our fundamentals are solid and remained resilient to the shock,” said NBK Managing Director Paul Russo.

Safaricom Crowned Kenya’s Top Taxpayer After Forking Out Ksh98B in 2020

In FY20, Safaricom paid Kes98 billion in duties and taxes, in addition to Kes20 billion in dividends to the Government of Kenya. Over the same period, Safaricom sustained more than one million jobs directly and indirectly and spent Kes58 billion with local suppliers.

Women Owned SMEs to Reap Big From Equity’s Newly Signed SME...

Women-owned and led SMEs and the youth can access the funds through the Equitel menu, Equity branches, Eazzy Banking app, and through the USSD code by dialing *247#.

Inspired by Uber Drivers, M-Pesa Agents Want Perks & Recognition as...

Forced to review its relationship with over 70,000 drivers in the UK, Uber announced on Tuesday March 16 that its drivers in the country would be reclassified as workers -  entitled to minimum wage, vacation time, and a pension. In UK employment law, the "worker" classification affords benefits only falling short of the "employee" classification.

Why Hotels Are Doomed for the Next 3 Years

The Corona Virus outbreak particularly imposed major losses in the hotel industry following stringent measures such as lockdown rules and travel bans. This resulted in thousands of cancelled vacations and closed hotels in the first half of 2020. 

Eveready Taps Sameer Executive as Acting Managing Director

Masaki joins the loss-making battery manufacturer from Sameer Group, where he was the Finance Manager. He will perform as Acting MD pending the appointment of a substantive Managing Director by the board.

Auctioneers’ Desperate Search for Buyers in Newspapers Reveals Kenyans’ Struggles

A keen look at the auction notices tells a deeper story. Auctioneers are struggling to find buyers leaving them stuck with re-possessed properties, with harsh economic times meaning that fewer Kenyans are willing or able to acquire the repossessed vehicles, land, buildings and office equipment

Carrefour Expands in Uganda With New Naalya Store

Commenting on the launch, Franck Moreau, Country Manager of Carrefour Uganda and Kenya at Majid Al Futtaim Retail explained that Carrefour’s underlying aim is to offer Ugandan shoppers the best products and widest range at the most affordable price.

Rubis App Eases Pain of Hiked Fuel Prices

Users of the application will be able to easily perform different functions through such as locate any RUBiS station countrywide, purchase K-gas and accessories for home delivery, purchase airtime, pay utility bills and make purchases at RUBiS Express and Brioche.