Category: Business Daily

Kenyans received stablecoins worth Sh426 billion ($3.3 billion) in 12 months to June 2024 revealing a growing appeal for the cash-backed cryptocurrencies in day-to-day local transactions.

This largely quiet entry of stablecoins to the mainstream has raised interest among not just banks and other payment providers but also businesses and individuals.

A Ugandan importer has sued a Mombasa-based bulk grain handling company, Bulkstream Ltd, demanding unconditional release of its cargo comprising 1,514 tonnes of wheat imported from Ukraine.

Pan Afric Commodities Ltd says it purchased approximately 2,837 tonnes of wheat, which was shipped to the port of Mombasa under a charter party agreement and was subject to a Bill of Lading, which was issued on September 21, 2018.

More than 190 motor vehicle owners have been allowed to demand millions of shillings from the government for blunders that protected United Insurance Company from settling claims arising from accidents after the insurer’s collapse in 2005.

In a precedent-setting decision that could expose taxpayers to major losses, the Court of Appeal said the government was responsible for the losses suffered by policyholders over the delay in implementing the Policyholders Compensation Fund in 2005.

The Treasury is eyeing a $4.2 billion (Sh540 billion) bonds for expansion of the standard gauge railway (SGR) and Jomo Kenyatta International Airport (JKIA), less than a year after it cancelled a deal with India’s Adani Group.

A Treasury brief seen by the Business Daily shows that it plans to raise $3 billion (Sh387 billion) for the extension of the SGR line from Naivasha to Malaba and $1.2 billion (Sh154.8 billion) for the expansion of the main airport through a securitised bond.

Kenya’s imports of second-hand clothes have continued to rise despite President William Ruto’s ambitious plan to revive the country’s cotton, textiles, and apparel value chains.

Latest official data shows that traders shipped in mitumba worth Sh14 billion between January and June 2025, marking a 3.7 percent jump over a similar period last year and extending a trend of increased imports.

Kenya Power has increased its dividend payout by 42.85 percent to Sh1 per share or a total of Sh1.95 billion in the year ended June 2025 even as its net profit fell 18.66 percent on lower revenues and higher finance costs.

The company has proposed a final dividend of Sh0.8 per share to be paid on or about January 30, 2026 to shareholders who will be on the register as of December 2, 2025.

The Kenya Bureau of Standards (Kebs) has been stopped from terminating a six-month motor vehicle inspection contract with a Chinese firm pending the hearing of a case filed by the company.

High Court judge Josephine Mong’are has also blocked Kebs from enforcing the termination notice issued on September 10 against the World Standardisation Certification and Testing Group (Shenzhen) Co. Ltd in a new Pre-Export Verification of Conformity (P-VoC) tender.

For many people, home and the workplace are the true testing grounds for personality. Whether extroverted or introverted, individuals quickly discover how much these traits influence their success or struggles in careers and relationships.

In recent years, more Kenyans have become curious about personality types, with many turning to tests to better understand themselves.

The KCB Group fired 34 employees in the year to December over allegations of fraud and professional negligence.

The bank’s latest sustainability report, released on Tuesday, shows the sackings in the wake of fraud jumped from 11 cases in the year to December 2023.

The value of unroasted coffee shipped out of Kenya by exporters almost doubled to Sh35.4 billion during the first six months of this year, compared to Sh19.3 billion realised during a similar period in 2024 spelling a boon for farmers in the coming months amid ongoing reforms in the sub-sector.

Data from the Kenya National Bureau of Statistics (KNBS) shows that this year’s spike bucked a sustained falling trend observed since the period between July and December 2023, when the value rose to Sh23.1 billion, up from Sh21.3 billion during the preceding half.