Economy

Safaricom takes M-Pesa global with Western Union

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  Safaricom on Tuesday unveiled a new service on its M-Pesa mobile financial services platform that will allow users to send money around the world in a partnership with Western Union. Started as a simple money transfer service 11 years ago to fill a gap in Kenya’s formal banking network, M-Pesa has evolved into a […]

Economy

Turkana wind project to earn firm billions

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Firm stands to make Sh11 b annually Wind farm to sell electricity to Kenya Power at half the price but on meeting tough conditions Newly installed Turkana wind farm offers to sell electricity to Kenya Power at half-price but with tough conditions that could undercut other producers Lake Turkana Wind Power project (LTWP) will now […]

Economy

SGR: Uganda lags behind, blames land conflicts

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Much as the two sister countries have made significant strides in the project, Uganda has failed to realise its earlier plan of starting in June 2015. INFRASTRUCTURE JINJA – The kickoff for the construction of the $12.8b Standard Gauge Railway (SGR) has hit a snag due to land conflicts in some areas, where the railway […]

Economy

Kenya Airways plane finally touches down in New York

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KQ left JKIA at 11.20pm. The maiden Kenya Airways direct flight from Nairobi to New York ended shortly after 2pm on Monday, with a touchdown at John F. Kennedy International Airport (JFK). The Kenya Airways (KQ) Boeing 787-8 Dreamliner left the Jomo Kenyatta International Airport (JKIA) for the US in a historic flight in Kenya’s […]

Economy

New Kenya-US direct flight to boost trade by 25 per cent

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  Kenya Airways (KQ) will this evening commence nonstop flights to the United States, which completes a process that has been in the works for more than 10 years. In February, upon assessment, testing and auditing, JKIA was granted category one status by the US Federal Aviation Administration (FAA) to commence direct flights from Nairobi […]

Economy

IMF:Kenya’s chances of defaulting on loans increase

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International Monetary Fund (IMF) has warned Kenya risks defaulting on international loans as it falls by two steps. In a report released on Tuesday, the IMF noted that the country’s risk of defaulting on debt repayment had increased from low to moderate. Imminent repayment of a huge external debt, including part of the 2015 Eurobond, […]

Economy

China’s president opens long-delayed southern sea bridge

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Science & Technology Asia Pacific Hong Kong – President Xi Jinping opened the long-delayed and over-budget Hong Kong-Zhuhai-Macau Bridge on Tuesday, billed as a major step forward in China’s plan to turn the Pearl River Delta into a technology hub to rival Silicon Valley. But critics worry the 55km-long bridge connecting the mainland city of […]