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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.

Ex-Nakumatt Boss Atul Shah Loses Lavington Mansion to Auctioneers

By the time the supermarket chain collapsed in January, it had racked up debts amounting to over Ksh30 billion - including Sh18 billion to suppliers, Sh4 billion to commercial paper holders and the rest to banks.

NBK Offers Customers Emergency Medical Evacuation in Partnership With Amref

The Maisha Air Ambulance Plan is available for the bank’s retail, corporate and MSME clients. It also grants them direct access to the AMREF Flying Doctors’ 24-hour control centre for medical advice provided by qualified practitioners.

Sitoyo Lopokoiyit: Meet New M-Pesa CEO Tasked With Continental Take-Over

M-Pesa Africa was established as a joint venture between Vodacom and Safaricom to accelerate expansion of the world's first and most successful mobile money service across the continent.

SMEs and Brighter Monday Sign Pact to Boost Recruitment of Top...

The collaboration will provide a framework for SFA and Brighter Monday Kenya to help strengthen SMEs recruitment efforts, empowering the enterprises to establish strong recruitment processes and attract qualified candidates to help their businesses flourish, especially during and after the impact of the COVID-19 pandemic.

Airtel 5G to Rival Safaricom After Latest Upgrades

The firm expects the cost of 5G-enabled handsets to fall significantly within the next two years, with Sarma stating: “The 5G handsets right now are obviously very costly and see few buys. We feel that a reasonable price will start coming in one and a half to two years.”

Glovo Secures Ksh58B Funding, Slashes Minimum Delivery Prices by 50%

“Glovo is committed to taking its tech capabilities and systems to the next level. We will use this opportunity to create a smarter and more efficient experience for customers and riders as we aim to reduce delivery time,” said Ms. Muhiu.

Uber Faces Off With Home-Grown Apps After Launching in Nakuru

Uber is set to face stiff competition from home-grown ride-hailing services such as Wasili Cabs and Rafiki Cabs - which capitalized on the absence of big players such as Uber and Bolt in vibrant but smaller towns and urban centres such as Nakuru, Eldoret and Kisii.

I&M Bank Founder Retires After 47 Years at the Top

His replacement as Chairman, Oliver Fowler, is expected to oversee the next phase of I&M's growth in line with their long term strategy. He is a qualified Kenyan Advocate and an English Solicitor, currently a Senior Partner at Kaplan & Stratton Advocates.

Equity Insurance Agency Records Sh600 Million Profit

Equity Insurance Agency posted a Ksh600 million gross profit in the financial year ending December 31, 2020. The insurer recorded good performance  despite a...

COVID-19 Vaccines Import Ban Takes Away a Lifeline For Private Hospitals

All licenses issued to private institutions for the importation of the vaccines have thus been suspended until further notice, the Cabinet Secretary for Health Mutahi Kagwe announced on 2nd April, throwing private entities that had committed funds to the initiative into a spin and leaving a huge population of Kenyans at the mercy of government.  “The participation of the private sector in the vaccination exercise now threatens the gains made in the fight against Covid-19 across the country,” Mr Kagwe said said.