Switch TV, a station that was launched in September 2018, fired 35 of its employees in a cost-cutting measure on Friday. Those fired included reporters, anchors, producers and other support staff who were all hired about nine months ago. The station, which had over 100 employees, was looking to cut down to an estimated 50 […]

By Nephat Kinyua If first impressions are anything to go by, then newly appointed Nzoia Sugar Company Managing Director CPA Michael Makokha Wanjala’s act of reading the riot act to the company’s employees in his first week on the job points to what some may consider a new dawn at one of Kenya’s leading sugar […]

The shilling has this week touched an eight-month low of 103 units to the dollar on the back of high dollar demand partly driven by the high liquidity. The drop now raises the spectre of a rise in cost of living, given that Kenya is a net importer of goods. The biggest knock-on effect is […]

Kenya commercial Bank chief executive officer Joshua Oigara is set to be unveiled as the new CEO later this later to take over from his close buddy The Legend Bob Collymore who passed away after battling with cancer for about two years. Oigara is credited with super efficiency and corporate discipline at the banking giant […]

Former Safaricom CEO Michael Joseph has made a comeback in an acting capacity following the death of Bob Collymore. The telco announced on Tuesday that Joseph will hold the position until the Safaricom Board makes communication on a permanent appointment. “The board is confident that during this transition, Mr Joseph will provide the necessary guidance […]

A popular hotel in the Lake-side city of Kisumu has sent home its entire staff following a tough business environment. According to Daily Nation, Sunset Hotel general manager Joseph Oduor explained that they resorted to the move after the hotel had continuously made losses for 15 years. He further revealed that the more than 50 […]

Kenya Airways CEO Sebastian Mikosz has announced plans to exit the airline by the end of this year. In a memo to employees, Mikosz said he was leaving on personal grounds. ‘It is my personal decision and I have obviously discussed it with board as well as with my family,’ reads part of the memo. […]

Details have now emerged of how Kenya loses over Ksh.50 million daily in traffic jams. According to a new report by the Institute of Economic Affairs Institute of Economic Affairs (IEA) now says that the introduction of the Bus Rapid Transport System holds key to managing traffic especially in Nairobi. IEA further suggests a raft […]

By Haron Wachira Where doth my help come from? When my daughter asked me recently, “Dad, what has been your biggest challenge so far in business?” I immediately thought, Government. I closed down a manufacturing under bond warehouse because the customs officials would not give us peace unless we paid bribes — they found fault […]

By Phil Wesonga Safaricom’s market super-dominance which is primarily supported by illegal monopolistic tactics and diabolical predatory lending targeting poor people has driven it to insane profits of Sh63.4 billion in a poorly performing economy where commercial banks and manufacturing industries are closing shop . If there was any industry that required regulation, besides the […]

Safaricom has reported a 14.7 per cent increase in net profit to Sh63.4 billion for the year ended March 2019. Service revenue grew by seven per cent to Sh240.3 billion derived largely from outgoing voice calls and Mpesa charges. Outgoing voice service revenue grew by 0.3 per cent to Sh95.9 billion and Mpesa revenue by 19.2 […]

Mumias Sugar Company has plunged further into negative territory after posting a Ksh 15.1 billion loss in the year ending June 2018, which is more than double the Ksh 6.8 billion loss reported in 2017. Despite receiving billions of shillings in Treasury bailouts, the sugarcane miller attributes the deteriorating financial situation to shortage of sugarcane, […]

President Uhuru Kenyatta’s directive has seen the Department of Fisheries lifting a ban on fish imports following a biting shortage after against Chinese catch that had flooded the market. The ban was lifted in January, barely three months after the restrictions took effect in November. Mr Kenyatta, in ordering the ban, had said it was […]