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- Youth Unemployment in Kenya: The Role of Vocational Training
- New $900,000 initiative aims to boost sustainable trade in Tanzania
- Organization of the Petroleum Exporting Countries’ (OPEC) pride in its African roots
- AIM Global Foundation pushes for stronger Gulf-Africa trade partnerships
- Investment opportunities in South Sudan’s emerging gold industry
- Family planning drive in Kenya gets 450,000 self-injectable contraceptive doses from UK
- AfDB commits $2 billion to revolutionise clean cooking in Africa, save forests
- The harsh realities of family laws for African women revealed
Economic Growth
- Pullman Hotel Nairobi will begin operations in June 2024
- Kenya has 31 hotels with a total of 4,268 rooms in the pipeline with an average room size of approximately 138 square feet.
- Pullman Hotel Nairobi Upper Hill has similarly adopted the concept of “workspitality” under the co-working spaces brand WOJO.
French multinational hospitality group, Accor will unveil its first premium Pullman branded hotel in Kenya next month. This will add to Accor’s offering in the Kenyan market, which includes Fairmont the Nofolk and Mövenpick Hotel & Residences in Nairobi among others.
According to Pullman Hotels & Resorts Director of Sales and Marketing Susan Waringa, the Pullman Hotel Nairobi Upper Hill which is set to open its doors to guests in June this year will have 162 rooms offering premium hospitality.
“We’re excited about the opening of Pullman Hotel Nairobi Upper Hill, catering to the needs of the hyper-connected business and …
- New hotel room developments in Kenya have dropped.
- With continued signing activity (19 hotels with about 5,200 rooms in 2023) Egypt now accounts for 28 per cent of the total pipeline.
- When it comes to hotels under construction, Marriott International leads the way, with 138 hotels (15,011 rooms) currently being built.
Kenya has ranked seventh in Africa among the countries with the highest number of hotel room developments by international hotel chains, a drop from position five in 2022.
This is according to the latest survey by Lagos-based W Hospitality Group, in association with the Africa Hospitality Investment Forum (AHIF). From the survey, Kenya has 31 hotels with a total of 4,268 rooms on the pipeline with an average room size in these hotels is approximately 138 square feet.
North Africa continues to dominate the planned supply, with Morocco and Egypt together comprising almost 31 per cent of the …
- The Uganda National Oil Company (UNOC) is directly importing petroleum products from Vitol Bahrain, aiming to reduce reliance on Kenyan firms and mitigate high fuel prices.
- UNOC’s direct importation and sale of fuel to OMCs in Tanzania and Uganda is a significant step towards fostering stronger regional ties, promoting economic growth, and ensuring energy security.
Uganda National Oil Company (UNOC) has started the sale of petroleum products to oil marketing companies in both Uganda and Tanzania.
This is part of a broader strategy to test the waters before UNOC embarks on a direct importation agreement with the global oil titan, Vitol Bahrain. This maneuver signals a new era in East Africa’s energy dynamics, especially following a cooling of relations between Uganda and Kenya over fuel supply mechanisms.
Breaking New Ground: Uganda National Oil Company Direct Importation Deal
For years, Uganda’s fuel supply chain was heavily dependent on Kenyan OMCs. However, …
The Board of Governors of the International Monetary Fund has approved a general allocation of Special Drawing Rights (SDRs) equivalent to US$650 billion (about SDR 456 billion), to boost global liquidity.
In a statement, IMF Managing Director Kristalina Georgieva termed the move as historic, adding that it is the largest SDR allocation in the history of the IMF.
The SDR is an international reserve asset created by the IMF to supplement the official reserves of its member countries.
The IMF adds that SDR is not a currency, but has a potential claim on the freely usable currencies of IMF members. As such, SDRs can provide a country with liquidity.
“Special Drawing Rights (SDRs) are an asset, though not money in the classic sense because they cannot be used to buy things. The value of an SDR is based on a basket of the world’s five leading currencies – the US …
A new report has revealed that biases in the estimation of solar production in Africa can lead to up to a 20 percent reduction in savings for African businesses.
This is according the Measuring Solar Irradiation in Africa: A case for change by CrossBoundary Energy which adds that such biases also cause between 1 and 2 percent reduction in the internal rate of return for solar developers and investors.
The report also indicates current methods that the solar industry uses for estimating solar production across the continent are unreliable.
Commenting on the report, Lenny Matei, co-author and Senior Project Engineer at CrossBoundary Energy, says that for most commercial and industrial (C&I) clients, a major factor in awarding projects is the electricity tariff and resulting savings offered.
Unilever and CrossBoundary Energy unveils 619 kWp solar plant in Kenya
He added that an often-overlooked factor is the estimated solar irradiation on site …
Listed real estate is also expected to continue performing poorly in 2021 with the Fahari I-Reit having opened the year at a relatively low trading price of Sh5.8 per share.
This is coupled with the expected negative performance of the office sector and lack of investor appetite in the instrument due to negative investor sentiments.…
Kenya’s President Uhuru Kenyatta has commissioned two key projects at the Konza Technopolis, a key flagship project of the country’s ambitious Vision 2030.
The President inaugurated an eight-story headquarters of Konza Technopolis Development Authority (KoTDA), which is located in Machakos County.
Kenyatta also opened the National Data Centre located at the Technopolis.
The ultra-modern office block is expected to provide KoTDA staff and partners a conducive on-site working environment to support the accelerated roll-out of the techno city.
On the other hand, the data center will offer reliable infrastructure and business-friendly services through a superior ICT backbone.
The data center will host East Africa’s biggest data center, with a capacity of 1.6 petabytes, according to the Standard.
It is fully equipped with smart city facilities and services to support the technopolis, as well as developers and small enterprises.
Kenyatta said the progress signals the Government’s commitment to the completion of …
Kenya’s national carrier Kenya Airways has launched a centre which it says will be used to mentor the youth.
In a statement, the company says the centre, dubbed ‘Fahari Innovation Hub’, will act as a springboard for new ideas and data-driven innovations to accelerate impact-driven solutions that address some of the societal and business challenges.
Kenya Airways Chief Executive Officer, Allan Kilavuka said the Fahari Innovation Hub has already been operating virtually for about one year.
He added that with the setting of a physical workspace, the hub will provide a centre for strategic innovation management offering opportunities for co-creation, collaboration, networking, research, and learning.
“At the pace at which change accelerates, especially now in the middle of a global pandemic, we have become increasingly aware of the need to be innovative as we position the business as a resilient, forward-looking and sustainable company with a deliberate inclusive agenda of …
The Central Bank of Tanzania (BOT) published the monthly economic review on June 2, 2021, highlighting key economic performance in the country’s different sectors.
Tanzania’s key economic sectors such as exports and imports showed modest performance while inflation remained in tolerable benchmarks.
The East African nation is one of the fastest-growing economies in Africa and it has been on a trajectory to enhance its economy, including advancing to a lower mid-income level, amid uncertainties caused by the global pandemic.
Read: Report Insight: Central bank shows good prospects on Tanzania economy
Various forecasts by different entities including the World Bank (WB) project that Tanzania’s GDP will grow by 4.5 per cent in 2021. However, the global recovery period dictates the fate of its economy.
Inflation
According to the report, headline inflation continues to be within the country and regional benchmarks in May 2021.
“Twelve-month headline inflation remained at 3.3 per cent …
