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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.…
Trade between the two countries has also suffered from the March 2020 Somalia ban of the importation of Miraa/khat from Kenya. This followed a decision by Kenya to stop issuing visas on arrival to Somalis.
But there could be a silver lining for traders from both countries since in August 2021, Somalia Prime Minister Mohamed Hussein Rooble assured that cross border trade between Kenya and Somalia would resume soon.
Prior to the announcement, Rooble held a closed-door meeting with Somali traders in Mombasa Wednesday. The meeting called for the strengthening of the diplomatic relationship between the two countries and the continuous collaboration in different sectors of the economy.…
- The multi-phase project will provide water to the Gauteng region of South Africa and generate hydroelectricity for Lesotho.
- The Lesotho Highland Development Authority will implement the part of the project that falls within Lesotho’s borders.
The board of directors of the African Development Bank Group has approved a loan of $86.72 million to co-finance the second phase of the Lesotho Highlands Water Project.
In a statement, AfDB said the multi-phase project will provide water to the Gauteng region of South Africa and generate hydroelectricity for Lesotho.
The project entails harnessing the waters of the Senqu/Orange River in the Lesotho highlands by constructing a series of dams for the mutual benefit of the two countries.
The Trans-Caledon Tunnel Authority, a state-owned entity in South Africa charged with financing and implementing bulk raw water infrastructure projects, will use the funds to construct the Polihali Dam and reservoir, a 38 kilometer-long water transfer …
- The African private equity (PE) industry, continues to prove itself and is once again on a growth trajectory
- Even though growth forecasts remained muted at the beginning of 2021, this was due to several African countries understandably grappling with persistent outbreaks of COVID-19
- North Africa and West Africa jointly attracted the largest share of PE deals by volume
Private equity fundraising in Africa managed to reach US$1.3bn in the first half of 2021 when including final and interim closes, a new report has revealed.
The 2021 H1 African Private Equity Data Tracker released by the African Private Equity and Venture Capital Association (AVCA) indicates that this is despite widespread decline felt by most economies across the globe, owing to the impact of the coronavirus pandemic.
The report noted that the African private equity (PE) industry, continues to prove itself and is once again on a growth trajectory, mirroring the gradual …
- The Africa Pulse report notes that Sub-Saharan Africa exits recession this year, but recovery is still timid and fragile
- It adds that the region is reforming, and notes that what is most needed to boost and sustain economic recovery is financing
The World Bank now says that Sub-Saharan Africa is set to emerge from the 2020 recession sparked by the COVID-19 pandemic with growth expected to expand by 3.3 per cent in 2021.
This is one per cent higher than the April 2021 forecast according to its latest edition of Africa’s Pulse.
The bank said that the rebound is currently fueled by elevated commodity prices, a relaxation of stringent pandemic measures, and recovery in global trade.
“Commodity prices remain well above their pre-pandemic levels, with several reaching all-time highs. Oil prices rose above their pre-pandemic levels in the first half of 2021 but have plateaued more recently due to demand …
- Google’s investment will include the landing of the subsea cable Equiano which will enable faster internet speeds and lower connectivity costs
- It also includes low-interest loans to help small businesses and equity investments in African startups
- Google is building global infrastructure to help bring faster internet to more people and lower connectivity costs
Google has announced a plan to invest $1billion over 5 years to support Africa’s digital transformation.
According to the company, the investment focuses on enabling fast, affordable internet access for more Africans; building helpful products; supporting entrepreneurship and small business, and helping nonprofits to improve lives across Africa.
The announcement was made at Google’s first-ever Google for Africa event, held virtually and live-streamed.
Affordable Internet
The planned $1billion investment announced today by Sundar Pichai, CEO of Google and Alphabet, will include enabling affordable internet access and building helpful products.
Pichai said Google is building global infrastructure to …
- EAC COVID-19 Vaccination Certificate will eliminate the current high transaction costs of COVID-19 testing
- Removal of visa fees for Uganda and Kenya by South Sudan is set to ease the free movement of persons
- Buy East African, build East Africa campaign central in driving the economic recovery agenda for the EAC
The East African Community (EAC) has been urged to develop a common COVID-19 Vaccination Certificate by December to hasten the economic recovery of the EAC bloc.
This is one of the resolutions of the Round Table Meeting for Chief Executive Officers of apex national private sector associations convened by the East African Business Council, in Nairobi, Kenya.
John Bosco Kalisa, EABC CEO said the EAC COVID-19 Vaccination Certificate will enable mutual recognition and eliminates the current high transaction costs of COVID-19 testing and will boost intra-EAC trade, travel and tourism.
He also commended the high-level bilateral engagements by EAC …
