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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, …
Agri-SMEs in East Africa face an acute need for finance tailored to their specific requirements.…
A pre-budgetary statement released by the Ministry of Finance projects a slowdown in inflation to an estimated 134% at the end of 2020 from 660%. The inflation slowdown will ride on the back of the foreign exchange auction system that has been adopted by Zimbabwe’s monetary regulators. There is anticipation that this system will lead to sustained exchange rate stability.
The Reserve Bank has also proffered a strong grip on money supply to curtail the inflation rate. Money supply growth has been one of the major reasons for the burgeoning rate of inflation.
source: tradingeconomics.com
The finance minister also projected economic growth of 7.4% in 2021 from a 2020 slowdown of 0.4%. The minister, in addition, promised to sharpen the investment climate and attract fresh capital to the struggling nation to realize these ambitious growth figures.
Recovery from the Covid-19 pandemic, resumption of global economic activity as well as …
AfCFTA must be an engine for growth as much as an engine for inclusion.…
The largest movement of African migrants was within Africa where these emigrants also make a very clear contribution to the economy of the country they move into.…
Africa is not very far for Asian investors who might be interested in the investment opportunities on the continent.…
China’s foreign ministry says that the origin of Africa’s debt problem is complex with each country’s debt profile varying.…
