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- IMF’s Sub-Saharan Africa economic forecast shows 1.2 percent GDP growth
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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.…
- Kenya will receive a €63 million/$63 million loan (KSh 7.5 billion) from the African Development Bank (AfDB) to boost its cereals and oilseeds production
- AfDB said its board had approved the funding, adding that the production increase will help bolster Kenya’s food security
- The loan is part of the African Development Bank’s $1.5 billion African Emergency Food Production Facility, an Africa-wide initiative to avert a looming food crisis exacerbated by the war in Ukraine
Kenya will receive a €63 million/$63 million loan (KSh 7.5 billion) from the African Development Bank (AfDB) to boost its cereals and oilseeds production by over 1.5 million metric tonnes over the next two years.
In a statement, AfDB said its board had approved the funding, adding that the production increase will help bolster Kenya’s food security and economic resilience.
The loan is part of the African Development Bank’s $1.5 billion African Emergency Food Production Facility, …
- The Kenyan government has announced a fuel relief targeting consumers who have been paying the highest prices ever recorded in the East African country
- The government’s spokesperson Kanze Dena informed the public that the government had left the prices of the commodities unchanged, amid a steep rise in the cost of living
- Kenyans will continue to pay KSh 159.12, KSh 140 and KSh 127.94 for a litre of petrol, diesel and kerosene, respectively
The government of Kenya has announced a fuel relief targeting consumers who have been paying the highest prices ever recorded in the East African country.
On June 14, 2022, the government’s spokesperson Kanze Dena informed the public that the government had left prices of the commodities unchanged, amid a steep rise in the cost of living.
As such, Kenyans will continue to pay KSh 159.12, KSh 140 and KSh 127.94 for a litre of petrol, diesel and …
- CrossBoundary Energy has completed a US$40 million equity investment from Norfund and KLP
- The deal will allow CrossBoundary Energy to further scale its investments in renewable energy solutions for commercial and industrial businesses across Africa
- The $40M commitment is a continuation of Norfund’s and KLP’s earlier investments in the C&I sector and endorses the scale and maturity of the distributed generation sector in Africa
Renewable energy systems developer CrossBoundary Energy has completed a US$40 million equity investment from Norfund and KLP.
Norfund is the Norwegian Investment Fund for developing countries, while KLP is Norway’s largest pension company.
According to the partners, the commitment will allow CrossBoundary Energy to further scale its investments in renewable energy solutions for commercial and industrial businesses across Africa.
The $40M commitment is a continuation of Norfund and KLP’s earlier investments in the C&I sector and endorses the scale and maturity of the distributed generation sector …
- The Central Bank of Kenya (CBK) has welcomed the admission of the Democratic Republic of Congo (DRC) into the East African Community (EAC)
- CBK noted that DRC’s admission to the EAC also means it joins the institutions of the community, including the EAC’s Monetary Affairs Committee (MAC)
- It also effectively expands the region’s market size and offers a path between the seas for trade and cultural integration and new investment and employment opportunities for a dynamic population of about 300 million
The Central Bank of Kenya (CBK) has welcomed the admission of the Democratic Republic of Congo (DRC) into the East African Community (EAC).
In a statement seen by The Exchange Africa, CBK said noted that DRC’s admission to the EAC also means it joins the institutions of the community, including the EAC’s Monetary Affairs Committee (MAC).
The occasion was marked by depositing the instrument of ratification with the Secretary-General …
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- A report by Turner & Townsend revealed that the global economy is facing intense challenges, despite expecting a robust recovery in 2022 following two tough years of the COVID-19 pandemic
- The war in Ukraine and renewed COVID-19 lockdowns in China have destabilised the supply chain further, causing widespread disruption
- Higher energy costs and climate change-induced floods, storms and fires are all combined to test the resilience of the global economy
A new report has indicated that the global economy is facing intense challenges, despite expecting a robust recovery in 2022 following two tough years of the COVID-19 pandemic.
The Global economic outlook: A disrupted recovery by Turner & Townsend revealed that despite 2022 starting on a solid base, the war in Ukraine and renewed COVID-19 lockdowns in China have destabilised the supply chain further, causing widespread disruption.
The report further noted that higher energy costs and climate change-induced floods, storms …
