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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’s average inflation rate increased to 6.3 per cent in the first half of 2022, compared to 5.9 per cent in a similar period in 2021
- A report by Cytonn Investments has attributed the rise to a 13.8 per cent and 7.1 per cent year-on-year increase in food and oil prices
- Inflation for June 2022 came in at 7.9 per cent, the highest since August 2017 and an increase from the 7.1 per cent recorded in May
Kenya’s average inflation rate increased to 6.3 per cent in the first half of 2022, compared to 5.9 per cent in a similar period in 2021.
A report by Cytonn Investments has attributed the rise to a 13.8 per cent and 7.1 per cent year-on-year increase in food and oil prices, respectively.
During the period under review, the price of super petrol, diesel and kerosene increased by 22.7 per cent, 26.6 per cent …
- Bolt has opened its Africa Head Office in Riverside, Nairobi, Kenya, months after receiving funding amounting to US$716 million for expansion
- The company said the new location would assist them in leveraging Nairobi’s strategic position to serve as a regional hub for its operations in Africa
- The office will act as the regional nerve centre of the company, whose operations in Africa cuts through seven countries
Bolt has opened its Africa Head Office in Nairobi, Kenya, months after receiving funding amounting to US$716 million for expansion.
In a statement, Bolt said the new location would assist them in leveraging Nairobi’s strategic position to serve as a regional hub for its operations in Africa.
The on-demand mobility platform opened the office in Riverside Drive, Nairobi. The office will act as the regional nerve centre of the company, whose operations in Africa cuts through seven countries.
Apart from Kenya, Bolt also has …
- The Kenyan government said it had raised funding for the National Blood Transfusion Service Unit
- The Ministry of Health said funding had raised by 738 per cent from KSh 120 million ($1 million ) in the Financial Year 2017/18 to KSh 886 million ($7.5 million) in the Financial Year 2021/22
- Health Principal Secretary Susan Mochache said that increased budgetary allocation to the unit, and structural reforms, had yielded remarkable improvement in blood transfusion services
The Kenyan government said it had raised funding to the National Blood Transfusion Service Unit by 738 per cent from KSh 120 million ($1 million ) in the Financial Year 2017/18 to KSh 886 million ($7.5 million ) in the Financial Year 2021/22.
In a statement sent to The Exchange Africa, the country’s ministry of health further indicated that they had been leveraging UHC funds with an additional KSh 700 million ($5.9 million) for blood services.…
Africa has been hailed as the next frontier in the provision of global oil and natural gas resources, especially now in the wake of the ongoing Russia-Ukraine war.
This crisis has not only altered the global energy landscape, but also instigated an inflation in gas prices, given the former’s position in the hierarchy of major global producers. As sanctions continue to soar, Europe has embarked on a quest to find contingency energy supplies, as it seeks to minimize its dependency on Russia; which has already cut off gas supplies to countries like Finland, Poland and Bulgaria, over energy payment disputes.
Consequently, Africa’s gas resources have gained a newly found prominence, pertinently by the European Union (EU); owing to the continent’s rich endowment of oil and deep gas reserves. The mounting global demand for gas, has been pushing international energy companies to reconsider African projects. The numerous ongoing and upcoming oil …
As Africa’s role in the global economy continues to garner prominence, it’s imperative for the continent to seal the gaping hole in its power supply.
Lack of universal power access remains a major roadblock that has retrogressed industrialization and socio-economic development. Statistics from the World Bank indicate that Africa remains the least electrified region in the world, with 568 million people lacking access to electricity.
The Bretton Woods institution, further notes that the Sub-Saharan Africa’s share of the global population without electricity, jumped to 77 per cent in 2020 from 71 per cent in 2018, whilst most regions saw declines in their share of access deficits. It has become a Hobson’s choice for African governments to prioritize the power sector, which is the epicenter of industrialization, working towards Goal 7 of the UN SDGs; which advocates for universal access to affordable, reliable and modern electricity services.
Currently, Africa’s power is …
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