Retail giant Tusker Mattresses Limited trading under the name Tuskys has been put under watch by the Kenyan Government after suppliers complain to the government that they have not been paid their debts. Last week, suppliers wrote to the Ministry of Industrialization and the competition authority to intervene and force […]

A push for an early handover of the operations of the Standard Gauge Railway (SGR) appears set to stall as Kenya Railways and Afristar, the Chinese company appointed to run the project, are not reading from the same script with the Kenya Railways Corporation. Afristar which was formed in May […]

The Treasury’s proposal to increase tax on beer made from sorghum, cassava or millet will result in the loss of up to 330,000 jobs as demand drops due to a price hike of the affordable beer meant for the low-income earners, distributors of Senator Keg have said. The distributors, and […]

The 2020 Finance Bill sailed through the floor of the National Assembly as Members of Parliament shot down proposals by Treasury to raise taxes from pensioners and LPG gas. In the vote subjected to the committee of the whole house, the Members of Parliament elected to keep the majority of […]

Equity Group has canceled the proposed transaction for the acquisition of Atlas Mara banking businesses in Rwanda, Tanzania, Zambia, and Mozambique. In a notice issued Tuesday, the bank said it has mutually agreed to terminate ongoing discussions highlighting shocks brought forth by the COVID-19 pandemic. “By way of update, Equity […]

Kenya has topped Angola as sub-Saharan Africa’s third-largest economy in dollar terms, according to the International Monetary Fund estimates. Angola has contracted every year since 2016 as oil output declined, and the kwanza was devalued in 2019 while Kenya’s shilling held steady. The COVID-19 pandemic and restrictions to limit its spread will […]

Cytonn Investments has launched a digital subsidiary Cytonn Fintech. Cytonn Fintech is spearheading entry into digital business for the company where by clients will have an easy time to transact on their mobile phones. The property developer’s Chief Executive Edwin Dande said investors in the Cytonn money market fund (CMMF) […]

The global poverty is set to rise above one billion people once again as a result of the coronavirus pandemic, which is reducing the income of the world’s poorest by $500 million (Sh53 billion) a day, according to new research published Friday. The research by King’s College London and the […]