Economy news in Nairobi

Nairobi News

African countries with weak exchange rates compared to the US dollar

Economy 29 Nov, 2021

For many years, Nigeria which is Africa’s largest economy by GDP has struggled to save its currency value while maintaining the stability of its exchange rate. In 2021, Africa’s biggest oil producer h...

Nairobi News

The 2021 Forbes Africa ‘30 under 30’ list is out

Economy 15 Jun, 2021

The annually released Forbes list features influential young Africans under 30 years of age Forbes has released this year's under 30s list that ran under the theme "A new Covid-induced agenda for soc...

Nairobi News

Kenya legalizes the use of drones

Economy 28 Apr, 2020

After endless negotiations, consultations and engagement with experts and industry stakeholders, Kenya joined several other African countries that have legalized the use of drones. The legal umbrella...

Nairobi News

Kenya expecting “blockbuster inward investment” in 2020

Economy 04 Nov, 2019

Already $2.9bn investments announced. Foreign domestic investment (FDI) in Kenya is looking forward to a bumper year in 2020, reports the authoritative London daily Financial Times. Kenya is...

Nairobi News

Nairobi most expensive city in Africa

Economy 20 Mar, 2014

Reasons include rising cost of living and new taxes Nairobi is Africa’s most expensive city according to a report by the Economist Intelligence Unit (EIU). The Worldwide Cost of Living 201...

Nairobi News

Toyota Tsusho invests in Nairobi

Economy 12 Feb, 2013

Japanese conglomerate Toyota Tsusho Corporation has established a regional headquarters in Nairobi, joining other multinational companies already operating in the regional hub, such as America's Gener...

Nairobi News

Fuel prices rise again in Kenya

Economy 16 Oct, 2012

New fuel prices in Kenya have been announced by the Energy Regulatory Commission (ERC) and take effect from 15 October until 14 November. In Nairobi super petrol has increased by Sh6.31...

Nairobi News

South Korean strengthens ties with Kenya

Economy 11 Jul, 2012

The University of Nairobi is to establish a South Korean Study Centre following an agreement with the Korean Foundation, an independent organisation affiliated to South Korea's foreign affairs ministr...

Nairobi News

World Bank’s global hub in Nairobi

Economy 26 Feb, 2012

The World Bank opened a new global network in Nairobi on 22 February to provide greater assistance to more than 30 conflict-affected countries, most of which are in Africa and the Middle East. The...

Nairobi News

MasterCard opens hub in Nairobi

Economy 02 Feb, 2012

Multinational financial payments system MasterCard has established a regional hub in Nairobi to serve the east African market and Mauritius. MasterCard said that its new base in the Kenyan capital...

Nairobi News

Fuel prices continue to rise in Nairobi

Economy 17 May, 2011

The prices of kerosene, diesel and petrol in Kenya have risen further following a decision by the Energy Regulatory Commission (ERC) to increase the cost of petrol, diesel and kerosene by 4.21, 2.61 a...

Nairobi News

Kenya to increase minimum wage

Economy 28 Apr, 2011

The Kenyan government has announced that it is to raise the minimum wage and abolish taxes on kerosene, which is used by low-income families for cooking and lighting. The country

Nairobi News

Africa suffers from week of Europe's airport closures

Economy 20 Apr, 2010

Africa has not been spared the negative effects of disrupted air transport and business across much of Europe caused by ash fallout from the Icelandic volcano. Horticultural and agricultural expor...

Nairobi News

Toyota to expand operations in Kenya

Economy 17 Mar, 2010

Japanese motor vehicle giant Toyota is to establish a regional African headquarters in Nairobi. A Toyota spokesman said the group planned to expand its operations in the east Africa region and increas...

Nairobi News

Islamic banks in Kenya

Economy 12 Sep, 2009

Islamic banks in Kenya account for one per cent of gross assets in the banking sector, the Central Bank of Kenya (CBS) has said. Gulf African Bank and First Community Bank, the two Islamic banks curre...

Nairobi News

Nakumatt Mega begins 24hour opening.

Economy 11 Dec, 2008

Nakumatt Mega on Nairobi

Nairobi News

Safaricom IPO applicants await refund.

Economy 23 Jun, 2008

There is frustration among participants in the recent Safaricom initial public offering (IPO) as stockbrokers continue to withhold repayment after the share issue was heavily oversubscribed. In Marc...

Nairobi News

Profit increase for Safaricom ahead of stock market launch.

Economy 28 May, 2008

Pre-tax profit at Kenya

Nairobi News

Safaricom launches IPO.

Economy 16 Mar, 2008

Local and international investors will be watching the Nairobi stock exchange for the next two weeks as Kenya

Nairobi News

Kenya crisis hits economy.

Economy 13 Jan, 2008

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