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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.…
- Experts have projected that Kenya’s cost of living will rise as fuel prices continue to increase
- Cytonn Investments said that fuel is a major contributor to Kenya’s headline inflation and fuel prices are a major input cost in most of Kenya’s sectors.
- The experts noted that the business environment is expected to deteriorate even further as consumers are likely to cut spending
Economic experts have projected that Kenya’s cost of living will remain high following the recent hike in fuel prices in the East African nation.
In their latest report, experts from Cytonn Investments said that fuel is a major contributor to Kenya’s headline inflation and fuel prices are a major input cost in most of Kenya’s sectors. The sectors include manufacturing, transport, and energy.
Further, the experts noted that the business environment is expected to deteriorate even further as consumers are likely to cut spending.
The report came days …
- PesaPal has advised businesses in Kenya and the wider region to use fraud detection tools as more transactions move online and e-commerce becomes mainstream
- Outgoing Pesalink Chief Security Information Officer Stacy Chege noted that online fraud is a growing threat to Kenya’s economy and to the country’s personal financial security
- The expert said merchants must safeguard themselves and their customers against online payment fraud by integrating payment gateways like Pesapal as a secure checkpoint for online transactions
Businesses in Kenya should incorporate fraud detection tools as more transactions move online and e-commerce becomes mainstream.
This is according to the outgoing Pesalink Chief Security Information Officer Stacy Chege noted that online fraud is a growing threat to Kenya’s economy and to the country’s personal financial security.
The expert said merchants must safeguard themselves and their customers against online payment fraud by integrating payment gateways like Pesapal as a secure checkpoint for …
- Jambojet Jambojet and Pan-African payments company Cellulant have partnered to award customers over 600 discount vouchers, each worth KSh 3,000 ($25.6)
- The regional carrier said the vouchers would be available to all customers that sign up for Jambojet Rewards, the Jambojet loyalty program
- Jambojet Managing Director and CEO Karanja Ndegwa said that over 70 per cent of their customers book their tickets online and pay for their tickets using mobile money
Kenyan-headquartered low-cost airline Jambojet Jambojet and Pan-African payments company Cellulant have partnered to award customers over 600 discount vouchers, each worth KSh 3,000 ($25.6).
In a statement, the regional carrier said the vouchers would be available to all customers that sign up for Jambojet Rewards, the Jambojet loyalty program.
Jambojet has flown over 5 million passengers since its inception in 2014, and in April launched Jambojet Rewards, a loyalty program where customers earn points each time they fly Jambojet. …
- Kenya’s Centum Investments has sold its entire equity stake in Sidian Bank Limited to Nigerian lender Access Bank at a cost of $36.7 million
- Centum holds 83.4 per cent of the issued shares of Sidian, directly in its own name and indirectly through its wholly-owned subsidiary, Bakki Holdco Limited
- The two parties said Sidian would eventually be merged with Access Bank’s subsidiary in Kenya to create a stronger banking institution positioned to serve the Kenyan market
Centum Investments has sold its entire equity stake in Sidian Bank Limited to Nigerian lender Access Bank at a cost of $36.7 million.
In a statement, the investment firm, the biggest in East and Central Africa, announced it had entered into a binding agreement with the West African bank.
According to the statement, Centum holds 83.4 per cent of the issued shares of Sidian, directly in its own name and indirectly through its wholly-owned …
- The economy of Kenya will grow by 5.5 per cent in 2022 and 5.2 per cent on average in 2023–24
- Data by World Bank indicates that while still strong, the growth rate will be moderate following a remarkable recovery in 2021 from the worst economic effects of the pandemic
- The bank noted that the impact of the war in Ukraine is weighing on the global economic recovery from the pandemic
The World Bank has projected that Kenya’s real gross domestic product (GDP) will grow by 5.5 per cent in 2022 and 5.2 per cent on average in 2023–24.
According to the group, while still strong, the growth rate will be moderate following a remarkable recovery in 2021 from the worst economic effects of the pandemic.
During the period, the country’s economy grew by 7.5 per cent, much higher than the estimated average growth in Sub-Saharan Africa of 4 per cent.…
- The US government sent out a warning against 14 countries, mainly from Africa, against buying grains from Russia on grounds that they had been stolen from Ukraine
- Washington backed claims by Ukraine, which accused Russia of stealing over 500,000 tons of wheat, estimated to cost over $100 million since the start of the war
- Russia launched a full assault on Ukraine, its southwest neighbour, on February 24, 2022, marking a significant escalation in the ongoing Russian-Ukrainian conflict
As millions of Africans continue to face severe drought that has been exacerbated by the rising food prices, Russia is making a bold move that the US government has been quick to condemn.
The US government sent out a warning against 14 countries, mainly from Africa, against buying grains from Russia on grounds that they had been stolen from Ukraine. Russia launched a full assault on Ukraine, its southwest neighbour, on February 24, …
