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Business
- Office Occupancy Levels Across Africa increased by an average of 15 percent from 2022 numbers
- Knight Frank also points to rising investor interest in the continent’s manufacturing, mining, and energy sectors.
- In the retail market, there is a strong focus on enhancing consumer experiences across the continent.
Office occupancy levels across Africa’s office markets have recovered from 60 per cent in 2022 to 75 per cent this year, according to global property consultant, Knight Frank’s biennial 2024/25 Africa Report.
This notable improvement in office occupancy levels is largely attributed to the gradual return to the office following the disruption caused by the pandemic. For example, Kenya’s office occupancy rate now stands at 77 per cent, driven by the limited supply of prime offices – just 617,000 sqm is expected by the end of 2024, while take-up levels remain steady.
According to Mark Dunford, CEO, Knight Frank Kenya, there is …
- The firms exploit legal loopholes to steal, they exploiting gaps in beneficial ownership laws to repatriate billions of profits in the mining sector
- According to the report, Kenya’s mining industry has the potential to contribute 4-10 percent of the country’s gross domestic product.
- The country earned Sh300 billion from the mining sector last year.
Corrupt individuals in Kenya are exploiting gaps in beneficial ownership laws to repatriate billions of profits in the mining sector, limiting its contribution to the general economy.
A new report released by the Global Financial Integrity (GFI) dubbed ‘Illicit Financial Flows Related to Beneficial Ownership in the Mining Sector in Kenya’ regrets that several billions have been lost over the years.
According to the report, Kenya’s mining industry has the potential to contribute 4-10 percent of the country’s gross domestic product.
…“Unfortunately, the sector contributes less than a percentage of the country’s GDP which is significantly
- Kenya’s $168Bn plundered development loans were taken over 11 year period between 2010 and 2021
- In one instance, the OAG raised an issue with the missing drawdowns for three loans from BELFIUS Bank and Unicredit totaling €29,510,462 (Sh4.1billion).
- The audit examined how 39 commercial loans valued at $168billiom (Sh1.36 trillion) during the time were used, and whether they were borrowed legally.
The Office of the Auditor General has opened a can of worms on the possible diversion of loans and plunder of funds disbursed to Kenya for development over the past 10 years.
A Special Audit by Auditor General Nancy Gathungu, on loans Kenya took between 2010 & 2021 shows that the country received $ 167.7 billion (Sh1.13 trillion) in the consolidated funds accounts however, the accountability of the funds is in question.
The revelations come at a time when President William Ruto has already gazetted the Presidential Taskforce on …
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Glovo has launched the ‘Glovo Africa Graduate Programme,’ an initiative seeking to boost the potential of young Kenyan talent while extending it to other African countries.
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The initiative is specifically tailored to recruit and develop promising Kenyan and African talent for the job market.
- Participants can explore roles in operations, quick-commerce, partners & brands, finance & strategy, and brand marketing services.
Glovo Africa Graduate Programme
Global technology platform for on-demand delivery, Glovo, has launched the ‘Glovo Africa Graduate Program’, an initiative seeking to boost the potential of young Kenyan talent while extending to other countries in Africa.
The announcement reiterated that the firm specifically targeted Kenyan graduates to bridge the gap between schooling and job market needs.
“In a move to harness the potential of young Kenyan professionals, we are thrilled to announce the commencement of our new graduate programme. The initiative is specifically tailored to recruit and develop …
In this post, we will discuss the most confusing argument regarding Magic Mushroom Chocolate Bar – Internet vs real world: which is the best place to purchase a magic mushroom chocolate bar? The surge of popularity for magic mushroom chocolate bars has made it hard to know where these should be bought. Each choice has pros and cons, so online dispensaries have taken on brick-and-mortar stores for control over this market. We present both sides so that all the information needed before making another psychedelic purchase is given – do it consciously. Come with us as we try to figure out some stops along your journey toward finding a good spot where you can buy a magic mushroom chocolate bar; this could either be your first time or not!
What Is The Best Place To Buy Magic Mushroom Chocolate Bars: Online Or Offline?
When looking to buy magic mushroom chocolate …
British eSports presenter Paul Redeye Chaloner recently said he would like to see an African region appear in Valve’s DPC system. Chaloner explained that the Dota 2 developer should help teams from there make it to the world stage. In his opinion, the region already has a good infrastructure and enough strong players. For those interested in exploring more about sports betting options in South Africa, Hollywoodbets mobile provides a comprehensive platform with a dedicated mobile app. It should be noted that there is no African pro scene as such. Absolutely all professional cybersport organizations in this region, which have DotA 2 rosters, are located in one country – the Republic of South Africa. All other countries combined account for only a dozen or so players, who are constantly mixing into different packs to participate in various online competitions or WESG. There are no organizations for them at all. Thus, …
- Africa’s low electricity access stresses the need to double more than the efforts to meet SGD 7.1 by 2030.
- In Kenya, data by the lender shows 71 per cent of the population had access to electricity in 2021, compared to about 14 per cent in 2000.
- World Bank further identifies a stark divide in global access to electricity between urban and rural areas.
Sub-Saharan African states have made tremendous progress in electricity access in the past two decades, with the access rate rising from 25 per cent in 2000 to 48 per cent in 2020.
However, according to the World Bank, countries must double their electrification efforts to bring electricity to all by 2030, meeting Sustainable Development Goal Seven.
“Global access to electricity is increasing at a slow pace, with the progress towards achieving universal access to electricity being slow over the last 20 years,” …
- Africa’s economic growth in 2024 is expected to be upward with the real GDP projected to grow by 3.2 per cent, up from 2.6 per cent in 2023.
- East Africa, encompassing Ethiopia, Kenya, Uganda, Rwanda, Tanzania, and the DRC, will again power the continent’s growth prospects.
- Despite the projected continental growth, the intelligence unit faces substantial risks, including security threats, political instability, and debt repayment burdens.
Africa’s economic growth 2024
According to the international research unit, Economic Intelligence, Africa is expected to grow at the second-fastest rate among major regions globally in 2024. The unit ranks behind Asia, which China and India will propel.
Except for Sudan and Equatorial Guinea, whose economies appear destined to decline this year, most African governments are predicted to report good growth stories.
The real African GDP is expected to rise by 3.2 per cent in 2024, up from 2.6 per cent in 2023, …
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