June 1, 2025
Nairobi, Kenya

Business

Business

Treasury to launch new payment system in July to curb corruption and improve services

The National Treasury has announced a new plan to change how the government manages money, starting in July. The goal is to make government spending more efficient, reduce corruption, and improve how services are delivered to the public. This plan, called the Treasury Single Account (TSA), will bring all government funds into one central system,

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Business

Internal audit triggers major shakeup at Equity Bank with nearly 1,400 jobs lost

Equity Bank is one of the leading financial institutions in Kenya, offering important services to millions of customers. The bank is led by James Mwangi, who serves as the chief executive officer. Under his leadership, the bank has grown in both size and reach. However, recent news from the Business Daily newspaper published on Friday,

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Business

Njeri Thorne exposes how I&M Bank cost her £120 in a failed transfer

I&M Bank on spotlight after growing complaints that it may be taking advantage of customers through hidden exchange rate tricks during failed international money transfers. At the center of this troubling pattern that shows the bank possibly refunds failed transactions at a lower exchange rate than the one used when the transfer was initiated, leading

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Business Featured

Kenya’s Ksh6 billion disaster: Who is really responsible for this massive loss?

Auditor General Nancy Gathungu has revealed alarming losses to Kenyan taxpayers amounting to more than six billion shillings. This money was lost as fines and interest charges because government funds allocated for various projects were not used on time. Speaking to the National Assembly Budget and Appropriations Committee on May 27, 2025, Gathungu pointed out

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Business

National Treasury CS John Mbadi explains why the Govt is eying its Safaricom stake sale

The National Treasury is planning to sell part of its 35 percent ownership in Safaricom, which is Kenya’s largest telecommunications company. Via a post on X by The Kenya Times, treasury Cabinet Secretary John Mbadi stated that the government’s share in the company is valued at about Ksh280.5 billion. This move is aimed at helping

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Business

KRA warns of Kshs 2,000 fine as most Kenyans fail to file tax returns

Failure to comply could lead to a Kshs.2,000 penalty, adding financial strain to those already struggling with economic challenges. The reminder comes as KRA intensifies efforts to boost compliance, revealing that only 2.4 million out of 8.5 million eligible taxpayers have filed their returns so far, a mere 30%. This low turnout has prompted the

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Business

Ruto-linked insurer gains ground as SK Macharia’s directline struggles

According to the report shared by Business daily, a major change is taking place in Kenya’s PSV insurance sector, with Amaco, a company linked to President William Ruto, quickly gaining ground and challenging the dominance of Directline Assurance, which is owned by media tycoon SK Macharia. This shift is not just about business; it also

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Business

Uncertainty grows in Kenya’s textile industry with looming end of U.S. trade pact

In a report shared by Kenyan.co.ke, over 60,000 Kenyan livelihoods are at risk as the African Growth and Opportunity Act (AGOA) nears its expiry in September 2025. This agreement has allowed Kenya to export goods to the United States without paying duties for over 20 years. Factories that depend on this deal, such as the

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Business

Dr. Nayana Patel opens Nulife advanced fertility centre in Nairobi amid exploitation fears

Dr. Nayana Patel, a fertility specialist from India, has recently opened a new clinic in Nairobi called the Nulife Advanced Fertility Centre. This move has caused widespread concern due to her controversial history in India, where she was accused of exploiting poor women through commercial surrogacy. Dr. Patel first gained attention in 2004 after helping

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