Business
Kenya's SRC Raises State Corporation Board Chairs' Monthly Pay to Sh130,000
The Salaries and Remuneration Commission (SRC) in Kenya has announced an increase in the monthly honorarium for chairpersons of state corporations to Sh130,000, marking a significant raise of Sh50,000 from the previou…
Microsoft to Close Part of Nairobi Engineering Hub
Microsoft has announced plans to shutter a section of its Africa Development Centre (ADC) located in Nairobi, Kenya, as the tech giant restructures its engineering operations. The company is currently in the process o…
CMA Opens Door for Kenyans to Invest in Dangote Refinery IPO Through NSE
The Capital Markets Authority (CMA) has approved a structure allowing eligible Kenyan investors to participate in the Initial Public Offering (IPO) of Dangote Petroleum Refinery & Petrochemicals through Global Deposit…
Dangote Refinery IPO Open to Kenyans Through NSE-Listed Gdrs
Kenyans are poised to gain unprecedented access to shares in Africa's largest initial public offering (IPO) as Dangote Petroleum Refinery plans to open its doors through offerings on the Nairobi Securities Exchange (N…
New Bill Proposes Ksh1 Million Fine for Illegal Foreign Currency Hoarding
Kenyans who unlawfully accumulate large amounts of foreign currency could face a fine of up to Ksh1 million or a prison sentence of up to 10 years under a proposed amendment to the Central Bank of Kenya (CBK) Act.The…
Dangote Upbeat On Take-Off of $16bn Kenya Refinery Despite Court Ruling
Africa's richest man, Aliko Dangote, remains optimistic about the development of a $16 billion oil refinery in Kenya, specifically in Lamu, despite a recent court ruling that has introduced complications to the projec…
Kenya Ruto Assures Open Shares in Dangote Refinery
NAIROBI, Kenya -- The highly anticipated construction of the Dangote East Africa Refinery is set to commence, with President William Ruto assuring that the ownership and operations of the refinery will be open and tra…
Africa's Mineral Strength Is Wasted If Countries Don't Work Together - New Report
A new report emphasizes that Africa's vast mineral resources are underutilized due to a lack of collaboration among countries on the continent. The Conversation Africa highlights that green technologies, such as elect…
Dangote Refinery IPO Opens Ownership to Nigerian Investors
The recent announcement of an initial public offering (IPO) by Dangote Petroleum Refinery and Petrochemicals has opened a new chapter for Nigerian investors. The IPO, which offers 4.1 billion ordinary shares at a pric…
Nigeria and U.S. Forge New Path to Unlock $700 Billion in Mineral Wealth
Nigeria and the United States have entered into a significant agreement aimed at enhancing American investment in Nigeria's burgeoning mining sector. The framework, which has been signed by the two governments, is pro…
U.S. Congress Extends AGOA Through 2028, A Critical Victory for African Trade
The United States Congress has announced the extension of the African Growth and Opportunity Act (AGOA) through December 31, 2028, marking a significant victory for trade relations between the United States and Sub-Sa…
Kenya: Number of ATMs Falls Amid Shift to Digital Banking
The number of Automated Teller Machines (ATMs) in Kenya decreased by 2.66 percent in 2025, reducing the total to 2,228, according to recent data. This decline reflects a broader trend as both banks and customers incre…
Questions swirl over opaque Sh26 billion maize import tender
A controversial Sh26 billion maize import tender in Kenya has stirred significant debate amid the country's ongoing food security challenges. The tender involves importing 540,000 metric tonnes of maize from Zambia, a…
KRA Seizes 53,000 Under-Declared Smartphones at Eldoret Airport
The Kenya Revenue Authority (KRA) has confiscated a substantial shipment of 53,000 smartphones at Eldoret International Airport. The high-end devices, which include popular models such as the Samsung Galaxy S26 Ultra…
Ruto Says Kenya Ready to Begin Work on Dangote Oil Refinery
Kenya is preparing to break ground on a Sh2.2 trillion oil refinery in Lamu, with President William Ruto saying the project is ready to move into construction.The refinery is being developed by Nigerian billionaire Al…
Kenyans Warned Against Fake Dangote Refinery IPO Investment Offers
CMA warns Kenyan investors over unauthorised Dangote refinery IPO offersKenya’s Capital Markets Authority (CMA) has warned investors against unauthorised offers to sell shares in Dangote Petroleum Refinery, saying the…
Nigerians Show Pride in Oil Wealth with Share Buying Frenzy
In a remarkable display of economic empowerment and a burgeoning sense of ownership, Nigerians are fervently participating in a share-buying frenzy involving the oil refinery owned by Aliko Dangote, Africa's wealthies…
Uganda: KCB Bank Backs Uganda's Push for Mineral Value Addition
KCB Bank Uganda has reiterated its commitment to bolstering Uganda's industrialization efforts by providing financial solutions to the mining and minerals sector. This announcement comes as Uganda intensifies its init…
Kenya Revenue Authority Intercepts Smuggled Goods Worth Sh46.7mn
The Kenya Revenue Authority (KRA) has successfully intercepted a significant consignment of smuggled goods en route to Nairobi, with an estimated value of Sh46.77 million. The goods, which included cigarettes, shisha…
Bolt Comfort Rides Grow Sixfold in Kenya
Bolt, a leading ride-hailing service, has experienced a dramatic surge in the uptake of its Comfort rides in Kenya, with a sixfold increase over the past year. This rapid expansion of Bolt's premium category has been…