Top Business Daily Headlines!

The first 35 parastatals to be merged, axed revealed

The Treasury and President William Ruto’s Council of Economic Advisors have identified an initial set of 35 parastatals that will be merged or wound up under the International Monetary Fund (IMF)-backed restructuring, which could see at least 20 chief executives lose their plum jobs. — Continue reading.

“We cannot continue accumulating debt. Borrowing will only lead us down the cliff. We must get it right. We must do what is right. This is the time,” Dr. Ruto said. “It is illogical to continue funding loss-making firms with duplicated and overlapping roles. We have to shut down some of these loss-making parastatals. We must end excess capacity.”?

Dragon fruit farmers reap prosperity

After 13 years of toiling on a dragon fruit farm, Moses Muguna embarked on his own journey to cultivate this exotic fruit on a larger scale, delving into a market craving its unique benefits. — Read More

Isuzu in Sh200m trucks sale to bakery firm Dessra Ventures

Isuzu East Africa has sold 40 trucks to the bakery firm Dessra Ventures in a transaction valued at an estimated Sh200 million, boosting the dealer's sales, which has inked similar bulk deals with players in various sectors, including public transport. — Read More

Kenya ranks third in Africa’s e-commerce rankings despite local market woes

Kenya has grown to be the third-biggest e-commerce market in Africa, driven by the increase in internet penetration that has made it an attractive market for investors. — Read More

St Bakhita schools parents move to court opposing fee increment

Parents argue that varying the fees midway through the year left them with little or no bargaining power. The school says it has the discretion to increase fees. — Read More

M-Pesa deposits fall Sh10bn in six months

Safaricom customer deposits in the mobile money wallet, M-Pesa, fell by Sh10.6 billion to Sh263.3 billion in six months ended March 2024, signalling more withdrawals to cash and other platforms, including banks in the review period. — Read More

Workers to get 15pc relief on housing levy

Employees are expected to earn a relief of 15 percent on housing levy contributions in new proposals, which would expand the number of rebates available to four. — Read More

Five More Top Stories

1. Del Monte to make biofertilisers from June.
2. Slow internet connections to persist, warns telecoms regulator.
3. Chinese firm PANG buys four new television frequencies.
4. Filing objection against tax demand cut to seven days.
5. SBM Bank taps Sh471m fresh capital from parent.

Opinion & Analysis

How to safeguard against food security threats posed by floods

As Kenya grapples with devastating floods affecting most of the country, the specter of famine looms large on the horizon. For countless farmers who rely on the long rains to sow and nurture their crops, the excessive rainfall has brought despair instead of hope. — Read More

The recent onslaught of rains and floods have left people reeling. Lives have been lost, homes swept away, and most cities dismantled, making us bear the weight of lasting scars among our communities. Yet, amid all these, lies a beacon of hope to reset and chart a new course. — Read More

Entrepreneurship is a key driver of economic growth and has a wide array of benefits to both the entrepreneurs and the society. The ability of entrepreneurs to grow, expand and scale up their operations is to a large extent dependent on the availability of capital. This includes both financial and non-financial capital. — Read More