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- Kenya, Tanzania braces for torrential floods as Cyclone Hidaya approaches
- EAC monetary affairs committee to discuss single currency progress in Juba talks
- Transport and food prices drive down Kenya’s inflation to 5% in April
- Payment for ransomware attacks increase by 500 per cent in one year
- History beckons as push for Kenya’s President Ruto to address US Congress gathers pace
- IMF’s Sub-Saharan Africa economic forecast shows 1.2 percent GDP growth
- The US Congress proposes extending Agoa to 2041, covering all African countries
- Millions at risk of famine as fuel tax row halts UN aid operations in South Sudan
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.…
- Shelter Afrique has extended a USD19.5 million line of credit to Lagos-based real estate firm Mixta Real Estate PLC
- The 7-year facility with a moratorium of 24 months has been structured to co-finance Mixta’s affordable residential projects investments and for debt refinancing
- Of the amount, USD9.75 will be used to co-finance 1,171 affordable housing units comprising the ongoing Beechwood Park project (187 units) and New Marula projects (984 units)
Shelter Afrique has extended a USD19.5 million line of credit to Lagos-based real estate firm Mixta Real Estate PLC.
According to the Pan-African housing development financier, the 7-year facility with a moratorium of 24 months has been structured to co-finance Mixta’s affordable residential projects investments and for debt refinancing.
Of the amount, USD9.75 will be used to co-finance 1,171 affordable housing units comprising the ongoing Beechwood Park project (187 units) and New Marula projects (984 units).
The other USD9.75 will be …
- NSE-listed agribusiness Kakuzi says it has secured pre-shipment approvals from the Kenya Plant Health Inspectorate Service (KEPHIS) for its second fresh avocado shipment to China
- Kakuzi said it would ship several 20-foot container loads to China by sea before the end of this week as demand for quality Kenyan avocado fresh fruits continues to grow
- Kenya is currently China’s only approved African source market for fresh Avocado fruits
Kakuzi Plc has secured pre-shipment approvals from the Kenya Plant Health Inspectorate Service (KEPHIS) for its second fresh avocado shipment to China.
On September 20, 2022, the Kenyan agribusiness firm said it would ship several 20-foot container loads to China by sea before the end of this week as demand for quality Kenyan avocado fresh fruits continues to grow.
Kenya is currently China’s only approved African source market for fresh Avocado fruits. Alongside Kenya, China counts several leading producers, including Mexico, New …
- New data now shows that CIC Asset Management has retained its leading position in unit trusts in Kenya, with a 40.46 per cent market share
- Assets under CIC’s management reached KSh 56.9 billion as of March 2022, which is a 1.14 per cent rise compared to KSh 56.2 billion as of December 2021
- CIC Asset Management Managing Director Stanley Mutuku noted that the economy was on a growth trajectory, which is reflected in the performance
Kenya’s CIC Asset Management has retained its leading position in unit trusts in Kenya, with a 40.46 per cent market share.
Data by the Capital Markets Authority shows that the CIC unit trust scheme market share in the second quarter of 2022 was the largest unit trust scheme in the country.
Assets under CIC’s management reached KSh 56.9 billion as of March 2022, which is a 1.14 per cent rise compared to KSh 56.2 billion …
- KCB Bank Kenya has invested over KSh 120 billion to support Oil Marketing Companies (OMCs) importing fuel as it seeks to consolidate its support to the energy sector
- KCB has been facilitating oil importation into the country by financing the oil firms under its portfolio that have won business under the Open Tender System (OTS) through the Ministry of Petroleum and Mining
- KCB Group CEO Paul Russo said that KCB is a champion of regional trade, extending its services across the border of East Africa and beyond as a catalyst for the energy sector
KCB Bank Kenya has injected over KSh 120 billion to support Oil Marketing Companies (OMCs) importing fuel as it seeks to consolidate its support to the energy sector.
The Bank has been facilitating oil importation into the country by financing the oil firms under its portfolio that have won business under the Open Tender System (OTS) …
Kenya has not been left behind in the growth and development of technology. East Africa’s richest economy stands tall in the development of digital technology. However, a lot needs to be done, and the new administration has enough space to execute its plan regarding the advancement of the Kenyan digital space.…
The remainder of Anglo’s coal assets were demerged from the group and bundled into a new company called Thungela Resources Limited. This strategy in coal mining circles is called “mine to mouth” and is being continued by Seriti. Eskom, South Africa’s power utility, has an agreement where its thermal power stations are fed with coal from the company’s Kriel and New Largo mines. These mines are adjacent to the power stations.
Seriti Resources (the company’s name is from the native Sotho language and means integrity) was formed in 2017. Mike Teke, through his investment vehicle Masimong Holdings Group owns 25% of Seriti Resources.
The remainder of the shares in the energy company is owned by Sandile Zungu’s Zungu Investments Company, Thebe Investments Corporation, and Community Investment Holdings.…
