Trending
- Reshaping the future of sustainable food systems in Africa
- African Heads of State call for tripling of World Bank’s concessional financing
- SpaceX offers Starlink kit at half price for first-time Kenyan customers
- Mobile Banking Reshaping the Gender Gap in Financial Inclusion
- Unleashing ideas: AIM Congress sets the stage for over 450 dialogue sessions
- Abu Dhabi welcomes over 330 partners for AIM Congress 2024
- Kenyan Farmers Receive $2M Boost from Africa Fertiliser Financing Mechanism
- Brace for High Interest Rates for a Longer Period World Bank Warns Kenya
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.…
Traders have been calling for more staff to be posted at the Agriculture Food Authority (AFA) of Kenya to facilitate the approval of applications of maise import from Tanzania to Kenya. Additionally, the traders requested joint testing of aflatoxin to be undertaken in Arusha to reduce the number of rejections at the border.
Peter Musiba explained that the Tanzania Bureau of Standards (TBS) is tackling aflatoxin and has set outstations for testing in Dodoma, Singida and Shinyanga to facilitate the trade of cereals.
Paloma Fernanda, the Chief Executive of Cereals Millers Association, urged for a joint campaign on combating aflatoxin from as early as farm and post-harvest losses in the EAC region.…
- According to the 2022 Annual report released by Brand Finance Banking 500, the brand value of Equity Group stood at US$388 million.
- The report shows that Equity Group held position 338 overall but topped in Sub-Saharan Africa, outside of South Africa.
- This year, the world’s top 500 banking brands have recorded an upward trend, reporting a 9 per cent year-on-year brand value growth to reach an all-time high of US$1.38 trillion.
- Equity Group Foundation’s corporate social arm has scaled its operations to reach a total spend of US$513 million in social investment programs.
Banking in Africa
Equity Group Holdings, the most influential financial service group in East and Central Africa, has ranked the fifth strongest banking brand globally.
According to the 2022 Annual report released by Brand Finance Banking 500, the brand value of Equity Group stood at US$388 million. The financial company is among the few banks from …
- BasiGo has received a $4.3 million Seed funding round, led by Novastar Ventures, to commercialise its electric bus business model and launch a local assembly of electric buses in Kenya
- The company also revealed that it had brought two 25-seat electric buses to Kenya which are currently undergoing performance and reliability testing in Nairobi
- The company entered the Kenyan market in November 2021, to provide electric buses for purchase by public transport providers
- BasiGo’s aim is to offer Kenyans a more environmentally sustainable solution that is also cheaper to maintain than current diesel buses
BasiGo has received a $4.3 million Seed funding round, led by Novastar Ventures, to commercialise its electric bus business model and launch a local assembly of electric buses in Kenya.
The Kenyan-headquartered company also received funding from several Silicon Valley investors, including Moxxie Ventures, Nimble Partners, Spring Ventures, Climate Capital, and Third Derivative.
The company’s CEO …
- Google has unveiled the Google Hustle Academy to train SMEs and entrepreneurs across Africa
- The Academy is a practical educational platform with interactive activities and instruction by subject experts
- It also provides access to a global network of mentors and alumni
Business training
Google has announced that 5,000 small and medium enterprises (SMEs) and entrepreneurs in Kenya, Nigeria, and South Africa will receive free training to help their business thrive via the newly launched Hustle Academy.
Google Hustle Academy is a Bootcamp-style training program designed to help entrepreneurs and small businesses owners position their businesses for investment opportunities and build viable business models for the future.
The Hustle Academy is a practical educational program with interactive activities and instruction by subject experts. It also provides access to a global network of mentors and alumni.
Business owners will undergo five days of hands-on training and receive 3,000 hours of training on …
- Kenya’s President Uhuru Kenyatta has unveiled the Universal Health Coverage (UHC) national scale-up and called on Kenyans to register for the National Health Insurance Fund (NHIF)
- Kenyatta said the programme was started in the country in 2013 with the highly acclaimed free maternity programme dubbed “Linda Mama”, which currently benefits over one million mothers annually
- On health infrastructure, President Kenyatta said the government’s investments since 2013 had seen an increase of 43 per cent in public health facilities from a stock of 4,429 facilities in 2013 to 6,342 currently
Universal Health Coverage for Kenyans
Kenya’s President Uhuru Kenyatta has unveiled the Universal Health Coverage (UHC) national scale-up and called on Kenyans to register for the National Health Insurance Fund (NHIF).
The President affirmed the government’s commitment to spreading the benefits of UHC across the country through the development of a focused policy to accelerate its implementation.
“My administration has developed …
- East African Breweries Plc’s KSh 11 billion ($96.8 million) Medium-Term Note ranked among the top corporate deals done in Africa in 2021
- The Bond and Loans Awards usually recognizes the most innovative and ground-breaking deals from Sovereign, Corporate, and Financial Institution issuers and borrowers
- The bond was issued in October and saw investors bid KSh 37.9 billion ($333 million) in the issuing round, representing an oversubscription of 275%, a record for EABL
The Bond and Loans Awards has ranked East African Breweries Plc’s KSh 11 billion ( EABL ) ($96.8 million) Medium-Term Note among the top corporate deals done in Africa in 2021.
The Awards ceremony usually recognizes the most innovative and ground-breaking deals from Sovereign, Corporate, and Financial Institution issuers and borrowers.
It named the bond the Local Currency Corporate Bond Deal of the Year.
EABL Group CFO Risper Genga-Ohaga said issuing the bond was the right decision.
“When …
