Trending
- Kenya’s business conditions stabilised in April but heavy rains a concern for Q2
- Floods Sweep Away Billions in Economic Gains in Kenya and Tanzania
- Chapa Founder’s insight: Africa’s startup evolution mirrors China’s growth trajectory
- Sustainable solutions: AIM Congress 2024 focuses on agriculture, health and investment
- AIM Global Foundation and Korea-based LB Investment bold venture begins
- Strong shilling boosts investor confidence as Nairobi bourse picks in Q1
- Inside Africa’s Multi-Billion Dollar Creative Economy
- UAE support paves the way for the set up of Madagascar’s first gold refinery plant
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.…
Interesting market developments encircled WPP ScanGroup in this review period. The counter’s share price has been on a rally albeit a sharp decline in its bottom line (-1,191.1% y/y) in the just-released FY20 results.
The uptick – that comes after a sequential diminution – is on the back of the exoneration of the suspended senior management that boosted investor confidence given the fact that there was no adverse effect on the counter’s financial performance, position and/or operations linked to the aforementioned. We opine that the rally will continue in the near term to 2Q21 levels as investors accumulate on the earlier exited positions.…
The government of Zimbabwe through its ministry of mines and mineral development expressed its intent to create and develop a US$12 billion mining industry by 2023. This is not a far-fetched goal. It is feasible especially since this number is approximately the same amount that one large global mining company, Rio Tinto, earned as profits in the six months to June this year. The mining industry in Zimbabwe is estimated to be worth in the region US$4 billion.
The southern African country can achieve this in two years provided it meets certain conditions precedent for the growth of the mining sector. Natural resources are available in vast commercial quantities, and they are diverse. The US Department of Commerce through its International Trade Administration (ITA) division described the sector as “the best prospect industry” for the nation.
There is great potential in the mining sector that can be harnessed for …
These associations offer some information and services for free although one needs to become a member and pay a fee to access their full range of information, resources and services. By becoming a member of the peak body one can give his/her business credibility as membership proves to customers that you have met strict criteria and have certain qualifications and experience.
That is why we have strict criteria on who can become a member of our organisation in an industry inundated with fraudsters from all corners. …
Many years ago I used to bring small groups of troubled Britons to Uganda to help with some of the charitable construction work that we were doing deep in the rural communities in South West Uganda. The idea was that (as well as building structures for schools, water tanks, medical centres and maternity units) these failing yet entitled Europeans would learn just how lucky they were to be born in a developed country and gain an appreciation of where they ranked on the global opportunity league table. It worked in about 50% of cases and lives were transformed for which I am immensely grateful to God and the communities that we bothered!
One of the first stops after the airport in Uganda was Mulago Hospital, the National Referral Hospital, and then a place of such misery and despair that it regularly brought allegedly hard British men to tears. It was …
In a previous article, it was established from research that private investors globally have at least US$500 billion in funds under management which they desire to deploy in the development of infrastructure projects across Africa. Africa being the continent that needs this most is ironically the continent that spends the least on the development of its infrastructure. The potential and scope for funding African infrastructure is enormous; however such potential is hamstrung by the state and management of public finances and the debt levels of African governments.
Statistics show that less than 10% of infrastructure projects in Africa reach completion and that 80% fail at the feasibility and business planning stage. Projects fail for various reasons the biggest being limited capabilities, which include the ability to draw up realistic budgets, designs, and implementation of the said infrastructure projects with commercial potential due to short political cycles that challenge commitments to …
As a low-middle-income country, Tanzania is fairly doing its best in financing its development efforts by utilising its internal funding strategies, and tax is a part of that.
In the past five years, under the leadership of the late President John Magufuli, Tanzania broke its revenue collection record and managed to self-finance nearly 40 per cent of dividends collected from companies it holds a stake in.
Earlier last year, Tanzania Revenue Authority (TRA) hit a record collection of 100.02 per cent of its total revenue in December 2019, of which it exceeded its monthly target, which was more than $860 million.
Read: Tanzania considers tax breaks to cushion economy
“This is the highest score for a particular month since an establishment of TRA” the former TRA Commissioner General, Dr Edwin Mhede noted.
According to the former taxman, this magnificent record-breaking achievement was a fruit of hard labour put on enforcement …
