East Africa’s early-stage VC investments grow $17 billion in 2021- report
Many East African startups continue to raise funding/ Getty Images NAIROBI, Kenya Mar 6- Early-stage venture capital (VC) investments recorded the fastest growth in new deals into East Africa last year, a new report has revealed. Majority of these deals were in financial, agribusiness and ICT sectors which have recently offered high growth potential for […]
US calls out Kenyan officials tipping off money launderers
Alex Sava | Getty Images NAIROBI, Kenya Mar 4- A new US report tracking global money-laundering hotspots has revealed that Kenyan officials handling money-laundering investigation files are tipping account holders of suspicious transactions to move their assets before raids, hampering the fight against money launderers. In its annual International Narcotics Control Strategy Report (INCSR), The […]
State in fresh bid to unmask Kenya’s business tycoons
AG Kihara Kariuki/ Facebook NAIROBI, Kenya Mar 1-The government has unveiled fresh regulations aimed at making public the names, residential addresses and occupations of secret shareholders in companies seeking state tenders. The regulations introduced by Attorney-General Kihara Kariuki require Public Procurement Regulatory Authority (PPRA) to reveal information on beneficial owners of firms that have secured […]
Pakistan, US, Uganda to bolster Kenyan exports to Sh1 trillion by 2030- report
President Uhuru Kenyatta officially opens Pakistan-Africa Trade and Development Conference, at KICC Nairobi / PSCU NAIROBI Kenya Feb 28- Kenya is set to be a key driver in global trade growth, with its exports projected to grow at an average annual rate of more than 7 percent to cross USD10.2 billion by 2030. According to […]
Posta boss summoned over Sh168 million from business registrations
Posta House in Nairobi’s CBD/ The Star NAIROBI, Kenya Feb 22- Postmaster-General Dan Kagwe has come under fire over Sh168 million collected by Posta on behalf of the Business Registration Service. Parliament, through the National Assembly’s Public Accounts Committee (PAC), summoned Kagwe to explain why the postal corporation failed to remit Sh168,776,500 held by Huduma […]
UAE to tap into Kenya’s skilled labour market
President Uhuru Kenyatta delivers his remarks during the opening of the Kenya-Gulf Cooperation Council (GCC) States business forum in Dubai/ PSCU NAIROBI, Kenya Feb 17- The United Arab Emirates (UAE) is looking to tap into the Kenyan market for skilled labourers, offering a 10-year visa to support the development of the region’s economy. The long-term […]
Branch gets Treasury Greenlight to Acquire 85% Century Bank Stake
Branch App/ branch.co NAIROBI, Kenya Feb 8- Branch International can now move forward with its plans to acquire Century Microfinance Bank after receiving the greenlight from National Treasury. This after the National Treasury exempted the digital lender from a law limiting individual shareholding in microfinance to 25 percent. In a gazette notice signed by the […]
Fly540 boss set to lose property over Sh678.7 million debt
A Fly540 aircraft/ Fly540.com NAIROBI, Kenya Feb 4- Environmental and Land Court judge James Olalo has declined to stop auctioneers from selling property belonging to Fly540 Chief Executive Officer over a Sh678.7 million debt. Donald Smith Earle- who runs Fly540 and a fellow investor risk losing prime properties in Malindi that include cottages and a […]
Kenya’s journey to a healthy Environment Social and Governance(ESG) investment climate
Partner at the Environmental practice at commercial law firm Cliffe Dekker Hofmeyr Kenya Clarice Wambua/ LinkedIn NAIROBI, Kenya Feb 2- With the increasing recognition of the need to integrate Environment Social and Governance (ESG) in day-to-day corporate operations, it is likely that ESG disclosure and reporting requirements will soon be a mandatory requirement for more […]
KRA, EACC go after secret company shareholders
Times Tower building in Nairobi, Kenya/ Courtesy. NAIROBI, Kenya Jan 31- The Kenya Revenue Authority (KRA), the Ethics and Anti-Corruption Commission (EACC), and the Financial Reporting Centre (FRC)- which tracks money launderers- are now mining data from a registry of secret shareholders disclosed to the Attorney-General in a fresh crackdown on corrupt individuals and tax […]
