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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 firm has undertaken assignments in 50 of the 54 African countries and employs more than 500 people in its network of over 20 local offices.
This latest partnership comes at a time when the firm’s latest London sales and lettings reports show that June was a record-breaking month for sales transactions, lettings, viewings and new prospective tenants registering.…
Kenya’s Capital Markets Authority (CMA) has issued the first set of licenses to five coffee brokers in line with the Capital Markets (Coffee Exchange) Regulations, 2020.
In a statement, the Authority says the licenses will allow the brokers to carry out the role of coffee brokerage services at the Nairobi Coffee Exchange (NCE) with effect from 1 July 2021.
Meru County Coffee Marketing Agency Limited has been granted a full coffee broker licence, while others, which include Kipkelion Brokerage Company Limited, and Murang’a County Coffee Dealers Company have been granted conditional licences.
According to the Authority, they are expected to come into full compliance with the requirements of the Coffee Exchange Regulations within the next three months.
“The Authority is mandated to regulate the spot commodity markets in Kenya and in particular, the coffee commodity market according to Section 11(3) of the Capital Markets Act,” CMA said in a statement.…
In the years from 2014 and 2018, China was Africa’s biggest FDI source estimated at 16 per cent of all FDI into the continent. The Chinese represented the main source of FDI into the continent with the United States and France holding eight per cent of the total FDI.
With Covid-19 hitting the continent in March 2020, the cascading health and economic challenges on the continent has significantly affected FDI inflows.…
Kenya’s first Eurobond valued at US$2 billion was issued in June 2014 and it matures in less than five years in 2024.
According to PwC Kenya Senior Manager, Francis Nzau, Kenya’s public debt has been swelling and the risk of a debt crisis (where the Government is unable to repay what it owes) continues to increase every day.…
NAIROBI, Kenya, Jun 17 – The African Development Bank has announced new rounds of funding for Zambia and Egypt.
In Zambia, AfDB has approved a $1.4 million grant from the Global Agriculture and Food Security Program to reduce malnutrition among the Southern African nation’s most vulnerable households.
The grant will be directed into the Mitigating Impacts of Covid-19 on Household Food Security Project and is expected to create about 150 permanent skilled or semi-skilled positions and 40 part-time unskilled jobs in crop, livestock, and fisheries value chains.
AfDB says the project will also supply inputs for crops, livestock, and aquaculture enterprises to promote good agricultural practices and increase food production, as well as a capacity-building component.
Commenting on the Zambian funding, AfDB’s Director of Agriculture and Agro-industry Martin Fregene said increased food supply resulting from additional grant funds will lead to more jobs, improved quality of life, and reduction of …
NAIROBI, Kenya, Jun 10 – The governments of Kenya and Ethiopia have this week announced the operationalization of the One-Stop Border Post (OSBP) located at the Moyale Border in Kenya’s Marsabit County.
An OSBP is a trade facilitation tool applied at land borders between two adjoining States.
It refers to the simplified and harmonised legal and institutional framework, facilities, and associated coordinated procedures and processes.
According to officials from both governments, the post is expected to enhance free movement of people and goods between the two countries, a move that will also contribute to boosting trade volumes.
Data from the statistics office indicates that Kenya’s exports to Ethiopia in 2019 were valued at USD 67 million, while Ethiopia’s exports to Kenya were valued at US$ 52.05 million.
Moyale is the only gazetted border crossing point between Ethiopia and Kenya.
Officials from Kenya and Ethiopia also expect the post to reduce …
