Business

Business news, markets, and economy

36 articles

Jul 16, 2026

Kenya now has no dollar billionaires

Kenya has experienced a notable shift in its high-net-worth individual landscape, with the number of dollar billionaires dropping to zero according to the latest Knight Frank Wealth Report.

By John Mutanyi

Jul 14, 2026

Kenya's Major Creditors: Who the Country Owes Most

Kenya continues to manage a significant external debt portfolio, with several international partners standing out as key lenders.

Jul 13, 2026

Electricity Bills Set to Rise for Kenyan Households

Power consumers across the country are bracing for higher electricity costs this month following adjustments approved by the Energy and Petroleum Regulatory Authority.

Jul 12, 2026

Safaricom now contributes 5 per cent of Kenya’s GDP

Safaricom has emerged as a powerhouse in the country’s economy, now accounting for about 5 percent of Kenya’s overall Gross Domestic Product.

Jun 19, 2026

Finance Bill 2026 : Taxpayers required to first pay the principal tax before filing an appeal.

Kenyan lawmakers have introduced a significant new provision in the recently passed Finance Bill 2026 that could reshape how businesses and individuals handle tax disputes with the Kenya Revenue Authority.

Jun 19, 2026

Anti-Counterfeit Authority has introduced a digital certification mark to fight fake goods

The Anti-Counterfeit Authority in Kenya has launched an innovative digital certification mark designed to empower consumers and crack down on the flood of fake goods circulating in the market.

Jun 17, 2026

Elon Musk's net worth now hits $1.4 trillion,Tops Bitcoin's Entire Market Value

Elon Musk has achieved another extraordinary milestone, with his personal net worth climbing to $1.4 trillion and now exceeding the total market capitalization of Bitcoin at $1.3 trillion.

Jun 17, 2026

Private developers in Nairobi are now shifting focus to commercial buildings due to the government’s affordable housing push

Private developers in Nairobi are increasingly turning their attention toward commercial real estate as the government's ambitious affordable housing initiative reshapes the market.

Jun 11, 2026

Anti-Counterfeit Agency Signals Tougher Enforcement Drive

The Anti-Counterfeit Authority has issued a strong warning to businesses across the country regarding the sale of fake goods.

May 27, 2026

Bien Baraza and Wife Invest in Nairobi City Thunder

Popular Sauti Sol member Bien Baraza and his wife Chiki have become part owners of Nairobi City Thunder, one of Kenya’s leading basketball teams

May 25, 2026

Global oil prices are down nearly 6%.

Global oil markets experienced a sharp decline as investors responded to optimistic signals about a potential resolution to tensions in the Middle East.

May 22, 2026

Ruto Pushes for Insurance and Auctioneer Law Reforms

President William Ruto has directed the Ministry of Transport to urgently review two key pieces of legislation – the Insurance Act and the Auctioneers Act – following persistent complaints from matatu operators across the country.

May 22, 2026

Kenya Power has earned over Sh382 million from EV charging in about 3 years.

Kenya Power is reaping significant rewards from the country’s fast-growing electric vehicle market, collecting more than Sh382 million in earnings from EV charging stations over the past three years.

May 21, 2026

Safaricom Sales Officers Boost Skills at Mumias Training

Over 330 Safaricom sales officers from across Western Kenya gathered for an empowering training session at the Mumias Garden Park Hotel.

May 15, 2026

Posta Kenya to shut down 125 post offices and cut 440 jobs.

The Postal Corporation of Kenya has announced plans to close 125 post offices and reduce its workforce by 440 employees as part of a bold restructuring strategy aimed at saving Sh1 billion annually.

May 12, 2026

KRA Targets Crypto Traders in Tax Evasion Crackdown

Kenya’s tax authority is ramping up efforts to shine a light on the cryptocurrency sector through bold new proposals in the Finance Bill 2026.

May 10, 2026

KRA Gains Sweeping Powers to Freeze Accounts During Tax Appeals in Finance Bill 2026

A contentious new proposal embedded in Kenya’s Finance Bill 2026 is raising alarm bells among taxpayers, granting the Kenya Revenue Authority unprecedented authority to freeze or seize funds even while a tax dispute is under appeal.

May 10, 2026

Kenyans borrowed an average of Sh4 billion daily through Fuliza as of last year.

Kenyans have developed an insatiable appetite for instant credit, with daily borrowing through Safaricom’s popular Fuliza service averaging Sh4 billion last year.

May 10, 2026

Dangote Targets Kenya in Massive Mombasa Refinery Push

Africa’s wealthiest entrepreneur, Aliko Dangote, is setting his sights on Kenya with an ambitious plan to construct a major oil refinery in Mombasa capable of processing 650,000 barrels per day.

May 6, 2026

Banks Shut Down Millions of Inactive Accounts in Major Clean-up Exercise

Kenyan banks have carried out a large-scale cleaning of their records, resulting in the closure of 34 million inactive accounts.

May 5, 2026

Trade Between Kenya and Tanzania Drops for the First Time in Nearly a Decade

Trade between Kenya and Tanzania declined in 2025, marking the first drop in the value of goods exchanged between the two countries since 2016.

May 3, 2026

Tullow Oil Hit with Sh22 Billion Tax Bill Following Sale of Turkana Assets

Tullow Oil, a UK-based exploration company, is facing a significant tax demand from Kenyan authorities after completing the sale of its oil interests in Turkana.

Apr 29, 2026

M-PESA now processes over Sh100 billion every day.

Safaricom’s mobile money service, M-PESA, has reached a new milestone by processing more than 100 billion Kenyan shillings in transactions every single day.

Apr 24, 2026

KRA Cracks Down on Traders Switching Paybill and Till Numbers to Evade Taxes

The Kenya Revenue Authority (KRA) has launched a fresh crackdown targeting small traders who frequently change their mobile money paybill and till numbers in an attempt to avoid paying taxes.

Apr 21, 2026

President Ruto Explains Why Kenya Stands Out as a Top Place for Investment

President William Ruto has described Kenya as one of the best places in Africa for businesses to grow and succeed.

Apr 20, 2026

KRA Directs Fuel Stations to Update Invoicing Systems for Reduced 8% VAT on Fuel

The Kenya Revenue Authority (KRA) has instructed all fuel stations across the country to update their invoicing systems so they correctly show the new reduced value-added tax (VAT) rate of 8% on petroleum products.

Apr 20, 2026

New Bill Seeks to Limit Police to Holding Impounded Vehicles for Maximum of 14 Days

A new proposal in Parliament aims to bring relief to many motorists in Kenya by setting clear time limits on how long police can keep impounded vehicles.

Mar 18, 2026

Equity Group Reports Record Profit of Sh75.5 Billion in 2025

Equity Group has posted its strongest results ever. The bank made a full-year profit of Sh75.5 billion in 2025.

Mar 3, 2026

Nigerian Tycoon Abdul Samad Rabiu Climbs to Africa's Third Richest

Nigerian billionaire Abdul Samad Rabiu has surged in recent rankings to become the third richest person in Africa, trailing South African luxury goods magnate Johann Rupert and fellow Nigerian industrialist Aliko Dangote.

Mar 2, 2026

Safaricom Gains CBK Approval for Phone Number Masking in M-Pesa Transactions

Safaricom has received formal approval from the Central Bank of Kenya (CBK) to implement a data minimisation feature on its M-Pesa platform, allowing the company to mask customers' full phone numbers during payments to merchant Till numbers and PayBill accounts.

Feb 17, 2026

Aviation Workers Suspend Call off Strike After Reaching Deal with Government

The Kenya Aviation Workers Union (KAWU) has successfully ended its brief industrial action that started on Monday, restoring calm to Kenya's aviation sector after two days of significant disruptions.

Feb 16, 2026

Kenya Airways Warns of Major Flight Disruptions at JKIA Due to Ongoing Aviation Workers' Strike

Kenya Airways has alerted passengers to significant flight disruptions at Jomo Kenyatta International Airport (JKIA) following the commencement of an industrial action by members of the Kenya Aviation Workers Union (KAWU) on Monday, February 16, 2026.

Feb 7, 2026

Crypto firm accidentally sends Ksh5.6 trillion in bitcoins to users

In a stunning operational error, South Korea's major cryptocurrency platform Bithumb mistakenly credited hundreds of customers with enormous amounts of Bitcoin during a routine promotional giveaway on Friday, February 6, 2026. What was intended as small cash prizes of around 2,000 Korean won (roughly KSh 180) per winner turned into a distribution of at least 2,000 BTC each to affected users, resulting in over 620,000 Bitcoins being erroneously sent out—equivalent to approximately KSh 5.66 trillion at prevailing market rates.

Jan 26, 2026

IMF Projections Highlight Kenya's Dominance in East African Economies for 2026

According to the latest projections from the International Monetary Fund (IMF), Kenya continues to hold its position as the economic powerhouse of the East African Community (EAC) in 2026, with a nominal Gross Domestic Product (GDP) estimated at $140.87 billion. This figure underscores Kenya's robust economic trajectory amid regional growth, even as neighboring countries show promising expansions driven by investments in infrastructure, natural resources, and domestic demand.

Jan 23, 2026

KRA Introduces WhatsApp Service for Tax Filing, eTIMS and More

The Kenya Revenue Authority (KRA) has rolled out a new WhatsApp chatbot service to make tax filing and other essential services more accessible, allowing Kenyans to handle their tax obligations directly from their phones without visiting KRA offices or relying solely on the iTax portal.

Jan 20, 2026

East African Neighbors Outpace Kenya in Projected GDP Growth as Ethiopia Holds Strong at 7.1%

Recent economic forecasts from major institutions like the International Monetary Fund (IMF) and the African Development Bank (AfDB) highlight a shifting dynamic in East Africa: several neighboring countries are projected to grow faster than Kenya in the coming years, while Ethiopia continues to post robust figures around 7.1%.