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- 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.…
- A climate-smart crop insurance scheme introduced in Kenya combines satellite data and smartphone imagery to provide farmers with much-needed protection
- It relies on satellite images to determine if a particular area – sometimes covering up to 1,000 farmers
- Picture-based insurance requires farmer champions to periodically take photos on behalf of farmers’ crops at different growth stages
As climate change worsens, millions of smallholder farmers across sub-Saharan Africa grapple with unprecedented weather changes and influxes of pests and diseases that ravage their farms and devastate their livelihoods.
However, a climate-smart crop insurance scheme introduced in Kenya combines satellite data and smartphone imagery to provide farmers with much-needed protection.
To cushion farmers against climate change and boost productivity and resilience, governments and private sector players have been exploring various financing solutions.
Among them is index-based weather insurance, which relies on satellite images to determine if a particular area – sometimes covering up …
- Central Bank of Kenya has liquidated Imperial Bank of Kenya which was placed under receivership in October 2015
- The bank’s regulator said liquidation was the only feasible option, adding that it was acting in the interest of the general public
- Imperial Bank was placed under receivership, after CBK discovered massive fraud committed by its leadership through illegal deals, milking the bank at least KSh 34 billion
Kenya’s Central Bank has approved the complete shutting down of a bank that was placed under receivership five years ago.
On Thursday, December 6, Central Bank distributed a press release informing the general public that it was closing down Imperial Bank of Kenya Limited in Receivership (IBLIR) bank, seeing that it was the only feasible option.
The liquidation of Imperial Bank now sets the stage for the sale of its remaining assets.
After the bank went under, Central Bank placed it under the receivership …
- Uganda’s electricity sector has been named Africa’s best regulated for the fourth year running
- Other strong performers, including its East African neighbours, Kenya and Tanzania, and Namibia and Egypt
Uganda’s electricity sector has been named Africa’s best regulated across several key metrics, according to the African Development Bank’s 2021 Electricity Regulatory Index.
The country was named the best for a fourth year running, ahead of other strong performers, including its East African neighbours, Kenya and Tanzania, and Namibia and Egypt.
The 2021 Electricity Regulatory Index annual report covered 43 countries, up from 36 in the previous edition and assessed their impact on the performance of their electricity sectors.
It covered three countries in the North Africa region, four in West Africa, six in Central Africa, seven in East Africa and 13 in the Southern Africa region.
Commenting on the report, Kevin Kariuki, the African Development Bank’s Vice President …
So far, the platform has on-boarded a network of financing partners and over 30 vehicle brands from OEMs, including key regional players like Inchape (LandRover) and CMC (Ford and Eicher Trucks) in East Africa and Dana (Kia), Coscharis (BMW, Landrover), Globe (Mercedes Benz) , Elizade (Toyota) in West Africa.
Autochek is also working closely with indigenous manufacturers such as Innosson Motors and Nord Motors.
As part of the investment by Mobility54, Autochek has also partnered with CFAO (Toyota, Suzuki, Mitsubishi) across Africa to facilitate auto financing for all CFAO brands. …
By sensing mild changes in financial well-being, the EWS gives lenders the opportunity to intervene and improve lending decisions and risk management.
Further testing, as part of the pilot, will reveal the predictive power of these indicators on borrowers’ behaviour and to what extent they translate to repayment challenges, such as delinquency, default, and rollover.
“The Financial Stress Early Warning System trial is a ground-breaking exercise in data-led client protection,” said Wayne Hennessy-Barrett, CEO and Founder of 4G Capital.…
Financial services provider Zamara Group has launched Africa’s first pension and savings plan on WhatsApp.
The latest innovation will allow customers to open, access and transact with Zamara’s Fahari Retirement Plan account via WhatsApp.
During the launch, Zamara Group Chief Executive Officer Sundeep Raichura said the development highlighted Zamara’s quest to accelerate and enable digital and financial inclusion in Kenya by providing easy access to financial solutions.
“With a reach of more than 12 million users in Kenya — more than any other app in the country — using WhatsApp we are uniquely positioned to bring more people into the pensions and insurance ecosystem,” said Raichura.
“We will leverage this messaging platform to help address the challenges of financial literacy and deliver micro pensions in Kenya”, added Raichura.
Retirement Benefits Authority Chief Executive Officer Nzomo Mutuku lauded the efforts by Zamara, saying that financial inclusion empowers individuals with the ability …
