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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.…
According to the IMF World Economic Outlook report published in July 2021, the global economy is projected to grow 6.0 per cent in 2021 and 4.9 per cent in 2022 and this global forecast is unchanged from April 2021 projections.
These statistics show a positive recovery of the global economy and no signal of economic collapse so far, despite the third consecutive fall in the average rating of financial centres as shown by the Global Financial Centres Index 30 report.…
- Proparco has granted Equity Group two guarantee facilities amounting to KSh 5 billion to help the Kenyan bank further support job-creating MSMEs
- The two guarantees are the largest ever granted by Proparco to a financial institution
- The French investment firm has also granted a €550,000 (KSh 70,000 million )technical assistance facility to support Equity Group Foundation’s health projects
Proparco has granted Equity Group two guarantee facilities, ARIZ and EURIZ totalling €39 million (5 billion KES) to help the Kenyan bank further support job-creating MSMEs.
This was part of the visit to Kenya of the French Minister Delegate for Foreign Trade and Economic Attractiveness, Franck Riester.
The French investment firm has also granted a €550,000 (KSh 70,000 million )technical assistance facility to support Equity Group Foundation’s health projects.
The EURIZ guarantee and the technical assistance grant benefited from support from the European Union and the Organization of African, Caribbean and Pacific …
- Facebook and its other apps(Instagram and WhatsApp) will be operating under the Meta umbrella.
- Facebook is now working towards building a “metaverse”.
- People in a metaverse might use a headset to enter a virtual world connecting all sorts of digital environments.
On Thursday October 28, 2021, social networking giant Facebook changed its name and rebranding itself as Meta. But do you really know what “meta” means? Well, the word “meta” comes from the Greek word meaning “beyond”.
As a result of rebrand, Facebook and its other apps(Instagram and WhatsApp) will be operating under the Meta umbrella.
While unveiling the new brand, Facebook boss Mark Zuckerberg said the company is broadening its reach beyond social media into areas like virtual reality (VR).
According to Zuckerberg, Facebook as a company has been looking at and reporting on its business as two different segments, one for its family of apps, and one for …
African Development Banks (AfDB) one of Africa’s vibrant development funders have levitated the cold storage chain industry in East Africa, by supporting it with a $10 million equity investment.
According to the bank’s statement, AfDB’s board of directors approved the sum which is part of the ARCH Cold Chain Solutions East Africa Fund (CCSEAF), which is targeted at supporting the development, construction and operation of greenfield cold storage, temperature-controlled solutions and distribution facilities in East Africa.
At the moment, several startups and business solutions have been established across East Africa, tackling storage challenges, one of them is Cold Solutions East Africa, which is one of the region’s leading temperature-controlled storage and logistics.
Read: Will the digital economy in Africa just remain a myth?
AfDB is not the only financial institution to throw its resources into the cold storage arena, Rabobank is also dedicated to the same market in East Africa.…
- EIB has committed EUR 95 million to support companies that were most affected by the COVID-19 pandemic in Rwanda
- Bank of Kigali and KCB Bank Rwanda have been picked to manage the funds
The European Investment Bank has announced that it will support companies that were most affected by the COVID-19 pandemic in Rwanda, to a tune of EUR 95 million.
In a statement, the bank said it had picked Bank of Kigali (BK) and KCB Bank Rwanda to manage the funds, as well as provide new credit lines for Rwandan companies.
Commenting on the development, the Minister of Finance and Economic Planning Uzziel Ndagijimana welcomed EIB’s latest private sector engagement in Rwanda and the launch of its EUR 175 million East Africa COVID-19 Response Facility in the country.
Rwanda becomes the first country in East Africa to benefit from the new streamlined financing programme that will provide long term …
- The eight agreements cover broad areas of cooperation between Kenya and Malawi including politics, diplomacy, defence, fisheries and aquaculture among others
- Kenyatta said collaboration and consolidation of ties between the two countries would guarantee socioeconomic growth of their citizens
- Previously, Kenyan industrialists have said they are seeking trade linkages that will allow them to establish joint ventures with Malawians
Kenya and Malawi have entered into new bilateral relations by signing eight new agreements designed to strengthen socioeconomic bonds between the two nations.
The agreements were signed on October 22 at State House, Nairobi at the end of bilateral talks between Kenyan and Malawian delegations led by President Uhuru Kenyatta and his Southern Africa counterpart Lazarus Chakwera.
The eight agreements covered broad areas of cooperation between Kenya and Malawi in politics, diplomacy, defence, fisheries and aquaculture as well as cooperative development. Others are technical cooperation in health and tourism.
Earlier, President …
