Billionaire philanthropist and Microsoft co-founder Bill Gates has revealed that his children will inherit less than 1% of his massive $155 billion fortune. A decision rooted in values, not dollars. Gates, 69, shares three children Jennifer Gates Nassar, Rory Gates, and Phoebe Gates with his ex-wife, Melinda French Gates. While many might assume the billionaire […]
Kenya has discreetly revived its plan to concession the management of the strategic ports of Mombasa and Lamu, following the suspension of a tender call in November 2023. The Kenya Ports Authority (KPA), with approval from the Treasury, is now advancing a 30-year public-private partnership (PPP) model, with negotiations unfolding behind closed doors, raising speculation […]
The Central Bank of Kenya (CBK) said on Wednesday that it has lifted a nearly decade-long ban on the establishment of new commercial banks in the East African country, effective July 1. The apex bank said in a statement issued in the Kenyan capital of Nairobi that the ban, which has been in place since […]
A company linked to prominent Kenyan billionaire Jaswinder Bedi, Fine Spinners Limited, has been dealt a significant blow by the Tax Appeals Tribunal in a high-stakes tax dispute with the Kenya Revenue Authority (KRA). The tribunal upheld KRA’s decision to impose a higher Capital Gains Tax (CGT) and apply an updated exchange rate on the […]
A grieving widow has come forward with allegations of fraud and defiance of court orders against Erick Kimathi, Director of Executive Super Rides, a car dealership along Ngong Road, Nairobi. The widow, whose identity is withheld for her safety, claims Kimathi unlawfully repossessed a fully paid Toyota Land Cruiser V8, fraudulently transferred it, and sold […]
In a significant move to get off the Financial Action Task Force (FATF) grey list, Kenya’s National Assembly passed the Anti-Money Laundering and Combating of Terrorism Financing Laws (Amendment) Bill, 2025, on April 16. The Bill, which amends ten existing Acts of Parliament, aims to address longstanding technical shortcomings in Kenya’s legal infrastructure, particularly in […]
The Office of the Data Protection Commissioner (ODPC) has directed NCBA Bank to pay KSh 250,000 to a customer, Brian Githaiga, over mishandling of his personal data. Githaiga lodged a complaint after the bank sent his business transaction details to the wrong email address, which he had asked to be corrected multiple times since 2019. […]
The Capital Markets Authority (CMA) has issued a stern warning to the public about a surge in investment scams targeting Kenyan investors. The regulatory body is urging individuals to exercise caution and verify the legitimacy of investment opportunities to avoid significant financial losses. In a recent statement released by the CMA, the authority highlighted key […]
In today’s court news, the directors of Nyama mama have moved to court seeking for damages of over Kes 2 B from Victoria bank for wrongful termination. Ninaa Shanghavi and her husband Jayesh Shanghavi, have filed an application at the Milimani High Court seeking compensation of Sh2 billion for what they term as wrongful prosecution. […]
Turkish construction firm Summa Turizm Yatirimciligi Anonim Sirketi has finally received the green light to proceed with the construction of the Bomas International Convention Complex in Nairobi, after months of legal wrangling and uncertainty. This follows the Court of Appeal’s dismissal on Friday of the Ministry of Defence’s last-ditch attempt to cancel the Sh31.6 billion […]
Kenya Airways has confirmed the death of an elderly passenger aboard flight KQ 003 from New York’s John F. Kennedy International Airport (JFK) to Nairobi’s Jomo Kenyatta International Airport (NBO) on Friday, April 11, 2025. The passenger suffered a medical emergency during the flight, prompting swift action from the crew and onboard medical professionals. The […]
