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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 headline figure climbed to 51.4 in October, from 50.4 in September.
- Readings above 50.0 signal an improvement in business conditions on the previous month.
- The increase was largely driven by the normalization of business spending following pandemic-related measures.
The Kenya Purchasing Managers’ Index ticked higher in October, as output growth strengthened for the first time in five months and new business continued to grow.
According to the Markit Stanbic Bank Kenya survey, the country’s headline figure climbed to 51.4 in October, from 50.4 in September.
Readings above 50.0 signal an improvement in business conditions on the previous month, while readings below 50.0 show a deterioration.
During the period, new business volumes continued to rise, extending the current run of growth that began in May.
For the first time in five months, the seasonally adjusted Output Index ticked higher in October, thus signalling a faster expansion in Kenyan business activity.…
The company, given the first resources boom and the second one currently being enjoyed, should be awash with cash. Instead, the company is heavily indebted to the tune of between US$70 million and US$160 million which it attempted to expunge unsuccessfully through a rights issue in 2015.
The company has been limping along financially for years. In 2019 it was reported that its liabilities exceeded assets by US$19 million. This development made it doubtful that the company could carry on as a going concern after having been placed under judicial management.
The recent interim financial results presented by the company offer some consolation to investors who have been suffering for long.…
- President Uhuru Kenyatta has told world leaders that Kenya will be a steadfast champion of the interests of African countries and the entire Global South on climate change at the UN Security Council
- He noted that Kenya will particularly focus on creating a compelling case for the nexus between climate change and security
- He spoke when he delivered Kenya’s national statement at the World Leaders Summit of the ongoing 26th United Nations Climate Conference (COP26)
Kenya’s President Uhuru Kenyatta has told world leaders that the country will be a steadfast champion of the interests of African countries and the entire Global South on climate change at the UN Security Council (UNSC).
Speaking in Glasgow, Scotland, the President said Kenya will particularly focus on creating a “compelling case for the nexus between climate change and security” noting that the phenomenon was “escalating and complicating new and old conflicts throughout the world”.…
- China has reaffirmed its commitment to supporting the East African Community (EAC) achieve regional integration by promoting its development projects
- Mingjian expressed China’s keen interest in augmenting its cooperation with EAC, adding that it would positively impact EAC products going to Chinese markets especially agricultural products
China will continue to support the East African Community (EAC) achieve regional integration by promoting its development projects.
This is according to the Chinese Ambassador to Tanzania and EAC Chen Mingjian who expressed China’s keen interest in augmenting its cooperation with EAC, adding that it would positively impact EAC products going to Chinese markets especially agricultural products.
The Chinese envoy also disclosed that her country was ready to implement the process of donating vehicles to EAC to enhance its capacity.
She made the commitment while presenting her letter of credence to the EAC Secretary-General Dr Peter Mathuki, at the EAC Headquarters in Arusha, Tanzania.…
In the US, cheap and accessible shale gas is rapidly displacing coal. And in China, concerns about poor air quality and related health issues have caused demand for coal to fall three years in a row, from 2014 to 2016. So is coal demand about to decline globally? Is coal headed for the ash heap of history? Such a development is unlikely.”
The relegation of coal to the dustbin of energy sources, the Boston Consulting Group (BCG) does not believe is likely. They are not the only ones who hold this view.
McKinsey & Company, another highly regarded consulting company, does not believe coal will not have a role in the energy mix of the world going forward. They are not as blunt in expressing their views as their counterparts at the BCG however. McKinsey & Company featured an article on their website proclaiming that the adoption and development of …
A strong ESG proposition will enable a company to gain access to new markets and grow existing ones. As was reported in another article, “Doing Good is Good Business” certain aluminium producers were able to increase the margins on their products by eliminating carbon from their products and selling it to customers who are demanding more of that product.
For companies that rely on government contracts, having a comprehensive ESG proposition places them in good stead to receive increased business from governments of nations that are becoming more climate and green conscious.
According to leading business consultants when governing authorities trust corporate actors, they are more likely to award them the access, approvals, and licenses that afford fresh opportunities for growth. …
