Author: Kang'ethe Njoroge

Land Investment in the Nairobi Metropolitan Area is the only sector projected for growth in 2023 according to the latest data from Cytonn Investments.  Land has continued to establish itself as a reliable investment opportunity, displaying great resilience even during times of economic hardship in the COVID-19 period, and a depreciating Kenyan currency.  The investment opportunity lies in satellite towns; Juja, Utawala and Limuru for unserviced land, for serviced land, investment opportunity lies in Syokimau and Ruiru-Juja which recorded the highest annualized capital appreciations  Land Investment in the Nairobi Metropolitan Area is the only sector projected for growth in 2023…

Egypt’s Creative Crafts in Five Minutes YouTube channel is Africa’s highest-earning channel, with $8.7 million of revenue made since its launch in 2017.  Algerian cooking YouTuber Oum Walid ($4.9m) and Nigerian comedian Mark Angel ($4.2m) are also among Africa’s most profitable channels. Kenya, Nigeria and South Africa all have at least 300 channels with more than 100,000 subscribers. North African countries though lead in viewership & earnings Egypt’s Creative Crafts in Five Minutes YouTube channel is Africa’s highest-earning channel, with $8.7million of revenue made since its launch in 2017 according to the latest report by CashNet USA.  According to the…

Allianz Risk Barometer 2023: changes in legislation  and cyber  security top threats in Kenya as climate and market development risks rise.  Cyber incidents, such as IT outages, ransomware attacks or data breaches, ranks as the most important risk in Kenya. It is the risk that small companies ($250mn annual revenue) are most worried about.  The frequency of ransomware attacks remains elevated in 2023, while the average cost of a data breach is at an all-time high at $4.35mn and expected to surpass $5mn in 2023. Change in legislation, cyber incidents and climate change are the top three threats to…

Safaricom Limited has announced the election of Adil Arshed Khawaja (MBS) as the Chairman of the Board on 26th January 2023 The highly distinguished Advocate of the High Court of Kenya, was appointed a Director in Safaricom PLC on 22nd December 2022 following the resignation of John Ngumi.  He currently serves as the Managing Partner at Dentons Hamilton Harrison & Mathews, the oldest law firm in Kenya, established in 1902 with a reputation of being an innovative, experienced, responsive, and highly skilled firm. Safaricom Limited has announced the election of Adil Arshed Khawaja (MBS) as the Chairman of the Board…

According to the World Economic Forum, artificial intelligence (AI) can contribute up to USD 15.7 trillion to the global economy by 2030. However, in Africa, AI market growth has stagnated, estimated at USD 870 million in 2021, with marginal growth forecasted until 2024. It has been argued that continents in the Global South will continue to benefit less from AI than those in the North. Oxford Insights highlights bottlenecks that have handicapped the growth of AI in Africa including governments requiring the appropriate regulatory environment to support AI development – including adequate data infrastructure, and an innovative vision to implement…

Kenyan workers were paid less than $2 to make ChatGPT less toxic, a new investigation by Time Magazine has revealed.  OpenAI hired an outsourcing firm Sama who tasked workers to help build a filter system that would make ChatGPT suitable for everyday use with workers taking home an exploitive wage of between around $1.32 and $2 per hour depending on seniority and performance, Time reports that the workers were forced to read graphic detail like child sexual abuse, beastiality, murder, suicide, torture, self harm, and incest. It has now emerged that Kenyan workers were paid less than $2 to make…

Agriculture deals worth $25Mn will be struck next month as investors throng the Kenyan capital for the 6th edition of Africa Agri Expo (AAE) in February 2023.  Over 100 investors and potential business leads in the agriculture value chains from 35+ countries, are keen on setting up businesses and distribution set-ups in Kenya.  The agricultural 2-day event will happen on 8th February to 9th February at the Kenyatta International Convention Centre (KICC) and is designed to provide solutions to Farmers, Agribusiness professionals, Agronomists, Government representatives to improve their yields and revenue.  Agriculture deals worth $25 million are expected to be…

Serviced office space provider, Workstyle Africa, has announced plans to invest $2 million to open five one-stop-shop entrepreneurship centres and work spaces in East Africa.  The firm has partnered with SNDBX International, a business growth ecosystem, to open the centers.   Each Workstyle location will have a SNDBX wing with more than 20 resident business support experts.   Serviced office space provider, Workstyle Africa, has announced plans to invest $2 million to open five one-stop-shop entrepreneurship centres and work spaces in East Africa. The firm has partnered with SNDBX International, a business growth ecosystem, to open the centers aimed giving entrepreneurs and…

Tanzania President Samia Suluhu has urged the world to look to Africa for energy amid the climate, energy and geopolitical crises that have been raging for some years now. Speaking during the 53rd World Economic Forum Annual Meeting as a session on  “Repowering the World” Suluhu said Africa has everything when it comes to energy.  Africa needs a lot of energy as many Fourth Industrial Revolution technologies are being applied there and a lot of related manufacturing is carried out there. Tanzania President Samia Suluhu has urged the world to look to Africa for energy amid the climate, energy and…

High cost of living is expected to continue in East Africa in  2023 as the region is projected  to experience sustained high inflation pressures according to the latest data from Sanlam Investment East Africa, 2023 investment outlook report. The region’s median inflation rate is currently estimated at almost 9 percent with some economies registering double digit inflation.  High inflation is a key investment risk with central banks leaning towards higher interest to curb inflation. High cost of living is expected to continue in East Africa in 2023 as the region is projected to experience sustained high inflation pressures according to…