Trending
- History beckons as push for Kenya’s Ruto to address US Congress gathers pace
- IMF’s Sub-Saharan Africa economic forecast shows 1.2 percent GDP growth
- The US Congress proposes extending Agoa to 2041, covering all African countries
- Millions at risk of famine as fuel tax row halts UN aid operations in South Sudan
- Empowering the Future: Humanity Protocol’s Dream Play Initiative
- TikTok Community Guidelines update aims to curb hate speech and misinformation
- Rwanda sees 39% surge in bank borrowers as Sacco and MFI loan uptake declines
- Kenya Ports Authority wins dispute case over cargo release
Business
- In the past two years, short-term rentals in Nairobi have been the new trend.
- Hospitality has bounced back remarkably after the challenges posed by the COVID-19 pandemic, emerging as one of the best-performing asset classes in 2023.
- Trappler highlights that hospitality is a key economic driver, employment creator, and focal property type in regions throughout East Africa.
Hospitality has bounced back remarkably after the challenges posed by the COVID-19 pandemic, emerging as one of the best-performing asset classes in 2023. This resurgence is particularly notable in Nairobi, especially with the renewed demand for short-term rentals.
The strategic position of Kenya’s capital city serves as an East African hub for various industries, including corporate, government, MICE (Meetings, Incentives, Conferences, and Exhibitions), embassies, and tourism, which makes it an attractive destination for hospitality and residence brands.
The increasing and diversifying demand for accommodation creates meaningful opportunities for market expansion and business growth.…
- The partnership will enable Kenya and South Korea to strengthen legal services and networks for African companies.
- G&A has built a strong reputation in Africa, delivering on transformational projects like the recent Eurobond
- In February last year, the two countries pledged to continue to nurture and expand ties
A law firm in Nairobi is championing a plan to see Kenya and South Korea strengthen legal services for companies in Africa. Kenya’s G&A Advocates LLP has signed a partnership agreement with South Korea-based law firm Jipyong ahead of the Korea-African Summit. The partnership will enable Kenya and South Korea to strengthen legal services and networks for African companies.
The Korean African Summit is set to take place between June 4 and June 5 in Seoul, South Korea, under the theme: “The Future We Make Together, Shared Growth, Sustainability and Solidarity.”
The summit, which will be the first-ever, aims to strengthen the …
- The upcoming US-Africa green and sustainable financing forum in Côte d’Ivoire aims to mobilize funding for infrastructure projects across Africa.
- Set for March 19–20, the workshop will feature industry leaders, US technical experts, and key financiers.
- The event highlights the critical need for renewable energy funding models, financing mechanisms, and regulatory and policy reforms to facilitate the growth of green and sustainable infrastructure.
To foster sustainable development in Africa, the United States Trade and Development Agency (USTDA) is joining forces with the African Development Bank Group to host the US-Africa Green and Sustainable Financing Workshop.
Set to go down in Abidjan, Côte d’Ivoire, on March 19–20, 2024, this event is poised to bring to the forefront the pressing need for green and sustainable infrastructure projects across the continent.
The workshop, a convergence of industry leaders, explores innovative financing models that can support Africa’s journey towards a resilient and sustainable future.…
- Persons with Disabilities in Kenya will get connected to jobs more easily following a partnership between Safaricom and the National Council of Persons with Disabilities (NCPWD)
- Safaricom and NCPWD will connect persons with disabilities with job opportunities through Fuzu, an online recruitment portal
- Fuzu, which has been active since November 2020, currently has over 360 employers and over 5,000 job candidates
Kenya’s leading telecommunications company, Safaricom, has partnered with the National Council of Persons with Disabilities (NCPWD) to connect persons with disabilities with job opportunities through an online portal.
In a statement seen by The Exchange Africa, the company said the portal, powered by IT service provider Fuzu, is a first in Africa and seeks to help employers easily identify and recruit Persons with Disabilities into their firms.
Fuzu, which has been active since November 2020, currently has over 360 employers and over 5,000 job candidates.
Safaricom said it has …
According to the EIU graphic, much of the external debt stock of African countries consists of public medium- and long-term borrowings. This form of borrowing has been on the rise since 2000.
Private medium- and long-term debt stock in Africa has also been on the increase but not at the same scale and magnitude as the public debt. In short, governments, through their finance ministries, have been on a borrowing binge since 2000, whereas the private sector has marginally increased its borrowings in United States-denominated debt.
The increased levels of borrowing in hard currency badly expose governments to movements in interest rates and exchange rates. South Africa has the most external debt exposure of any country in Africa, followed by Egypt and Nigeria. With these facts in mind, it is no surprise to how much the Rand, the South African currency unit, has depreciated against the dollar.…
The answer is in the law and the governance models that these countries approach. The way in which the governments of those countries approach the mining industry is imperative.
In South Africa, the natural resource curse is more pronounced in the sense that while the mining sector has made a few individuals fabulously wealthy, inequality in that country has meant that while the richest of the rich get richer, the poor get poorer.
How can governments approach the mining sector to ensure its development leads to broad-based and shared prosperity for all? The answer is the same. The answer is in the respective governments and the legal frameworks for the mining industries of those countries.…
- Absa Bank Kenya has announced the exit of its CEO Jeremy Awori after nearly ten years of service
- Commenting on Awori’s tenure, the board credited him for outstanding leadership, service and contribution
- Absa revealed that Awori has decided to pursue a career opportunity outside the Absa Group
Jeremy Awori, Absa Kenya’s long-serving CEO, is leaving the bank.
On September 8, 2022, the Board of Absa Bank Kenya PLC announced that Awori is leaving the company after nearly 10 years of service.
Commenting on Awori’s tenure, the board credited him for outstanding leadership, service and contribution.
Absa revealed that Awori has decided to pursue a career opportunity outside the Absa Group. As such, the CEO will be stepping down as CEO & Managing Director of Absa Bank Kenya PLC on 31 October 2022.
The board’s Chair Charles Muchene said Awori has been instrumental in driving significant growth and transformation of the …
- Uber is expanding into eight more cities across Kenya, Nigeria and Ghana and raising its safety measures
- The company announced that it will now be operational in Owerri and Akure in Nigeria; Eldoret, Kisumu, Nakuru and Naivasha in Kenya; and Tamale and Sunyani in Ghana
- The ride-hailing app has also launched sharing options across the markets to help reduce costs for riders and increase demand for drivers
Uber is expanding into eight more cities across Kenya, Nigeria and Ghana and raising its safety measures.
On September 7, 2022, the company announced that it will now be operational in Owerri and Akure in Nigeria; Eldoret, Kisumu, Nakuru and Naivasha in Kenya; and Tamale and Sunyani in Ghana.
According to the company, the expansions illustrate Uber’s commitment to the region and signal more opportunities for more drivers to earn.
The company has also launched sharing options across the markets to help reduce …
- Kenya’s Purchasing Managers’ Index (PMI) fell below the 50 points mark to 44.2 in August 2022, down from 46.3 in July, to indicate deteriorating conditions for businesses in the country
- Businesses in Kenya were negatively affected by the August 2022 general elections, further deepening woes currently being experienced in the country’s private sector
- The decline was the lowest seen since the lockdown hit a period in April 2021 and was led by the construction and manufacturing sectors
Kenya’s Purchasing Managers’ Index (PMI) fell below the 50 points mark to 44.2 in August 2022, down from 46.3 in July, to indicate deteriorating conditions for businesses in the country.
As indicated in the August 2022 PMI survey, businesses in Kenya were negatively affected by the August 2022 general elections, further deepening woes currently being experienced in the country’s private sector.
The decline was the lowest seen since the lockdown hit a period …
