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- Kenyan Farmers Receive $2M Boost from Africa Fertiliser Financing Mechanism
- Brace for High Interest Rates for a Longer Period World Bank Warns Kenya
- Kenya-Ethiopia Trade Relations: Legislators Advocate for Policy Alignment to Boost Ties
- Visualising the state of debt in Africa 2024
- Abu Dhabi radiates optimism as over 300 startups join AIM Congress 2024
- TLcom Capital Raises $154 million in Funding to Boost Its African Growth
- Africa’s $824Bn debt, resource-backed opaque loans slowing growth — AfDB
- LB Investment brings $1.2 trillion portfolio display to AIM Congress spotlight
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.…
The Food and Agriculture Organization of the United Nations (FAO drought in the horn of Africa) estimates that over $138 million in urgent funding is needed to assist 1.5 million vulnerable people in rural communities in the Horn of Africa whose fields and pastures have been hard hit by an extended drought.
FAO made the announcement while it released a comprehensive response plan calling for a range of support for agriculture in the region.
The organization revealed that the region, which is already prone to food insecurity associated with weather extremes, natural resource limitations, and conflict, the COVID-19 pandemic, and the 2020-21 locust invasion, has stretched the coping capacities of rural communities to the limit, undermining agricultural productivity.
Now the third season of drought driven by La Niña is raising concerns that a large-scale hunger crisis could break out if the region’s food-producing rural communities do not receive adequate help …
- Investors have taken more than half of the land available for investment in Phase 1 of the Konza Technopolis project
- The revelation comes when the development of Phase’s horizontal infrastructure will be completed by the end of this year
- The completion of the works, which entail the construction of streetscapes and drainage works, paves the way for the vertical construction works to be undertaken by the private sector
Investors have taken up seventy-two percent of land available for investment in Phase 1 of the Konza Technopolis project in Kenya.
In a statement, the firm said this represents 106 out of 147 land parcels demarcated for uptake by investors in Phase 1, which comprises 1,703 acres of land, including wildlife and nature parks.
The revelation comes when the Phase’s horizontal infrastructure development will be completed by the end of this year.
The completion of the works, which entail the construction of …
The Crypto market in the world is looking ugly.
The bitcoin price fell to a three-month low on January 10, accelerating the slide that started when the Federal Reserve ignited a broad sell-off worth US$300 billion. The bank cautioned that it might move more quickly than previously expected to reverse policy meant to reinforce the economy during the Coronavirus pandemic.
Experts predict that the latest crypto fall will persist for weeks in the Federal Reserve measures continue to be more aggressive.…
- MPs in Uganda have been urged to address budget shortfalls in the roads docket
- The ministry of works and transport said that majority of the running projects are being undertaken in arrears, saying that some projects have suffered major budget cuts
In Uganda, the Minister of Works and Transport, Edward Katumba Wamala, has warned Members of Parliament that unless the budget shortfalls of the ministry are addressed, projects under the works sub-sector in the National Development Plan (NDP) III will not be timely implemented.
“It will be difficult to start new projects before completing the ones that were started,” he said.
Katumba Wamala was appearing before the Committee on Physical Infrastructure on Thursday, 13 January 2022 to respond to issues raised in Budget Framework Paper (BFP) for Financial Year 2022/2023.
He said that majority of the running projects are being undertaken in arrears, saying that some projects have suffered …
In June 2020, South Africa got the trial of marijuana off the ground as part of the six herbs that could effectively fight the COVID-19 pandemic.
A 2020 report by the research firm estimates that the marijuana market will be based majorly in the following five countries.
Market size would generate as follows if the required legislations take effect: Nigeria (US$3.7 billion), South Africa (US$1.7 billion), Morocco (US$900 million), Lesotho (US$90 million), and Zimbabwe (US$80 million).…
- MPs in Uganda have been urged to spare the tourism ministry, departments and agencies (MDAs) from budget cuts in order to revive the COVID-19 hit sector
- The State Minister for Tourism, Wildlife and Antiquities minister said the dock is under funded
- The tourism sector has over the last two financial years lost over US$ 567,063 on account of budget cuts on consumptive items
Uganda parliament tourism budget
The Uganda parliament has been asked to exempt the tourism ministry, departments, and agencies (MDAs) from budget cuts in order to revamp the COVID-19 hit sector.
Bahinduka Martin Mugarra, the State Minister for Tourism, Wildlife and Antiquities said he was shocked by the persistent underfunding and budget cuts on consumptive items on tourism.
“The appropriation to the tourism sector has historically been below the threshold required for the industry to perform its role meaningfully. A sector that generates about 10 per cent …
