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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.…
Ruto’s bottom-up economics plan, as described in his manifesto, appealed to the electorate all over the country. The high cost of living and the rising commodity prices have mainly caused despair and hopelessness among those at the bottom of the economic pyramid.
Ruto’s promises, if realised, might give significant relief from poverty and insecurity, notwithstanding the current catastrophic drought, weak institutions, and worldwide economic instability.
Ruto’s victory is thrilling for the most vulnerable members of Kenyan society. Still, if the incoming president fails to deliver on his campaign promises, political confidence will be difficult to regain, and social unrest will likely occur in the long term.…
- The International Finance Corporation (IFC) says it will extend USD 150.0 million (KSh 18.0 billion) to KCB Group as a senior unsecured loan
- The credit facility would support the growth of the bank’s climate finance portfolio, which entails clients in sectors such as manufacturing, real estate and agriculture
- This is the third facility from IFC following a 10-year USD 150.0 million and a 7-year USD 75.0 million extended to KCB Group in 2020 and 2018, respectively
- The funding makes KCB Group the biggest borrower from IFC among tier one Kenyan lenders, with a cumulative amount of USD 375.0 million (KSh 45.0 billion)
The International Finance Corporation (IFC) has disclosed that it would extend USD 150.0 million (KSh 18.0 billion) to KCB Group in the form of a senior unsecured loan with a maturity of 7 years and a grace period of 2 years.
The credit facility is aimed at supporting …
- A new report by Knight Frank indicates that the ongoing war in Ukraine will affect Kenya’s overall gross domestic product in 2022
- According to the Half-year report, Kenya’s gross domestic product is projected at 5.5 per cent in 2022, lower than last year’s 7.5 per cent
- While Kenya has no significant direct trade with Russia and Ukraine, its exposure – as a net fuel, wheat, and fertiliser importer – to the global price impacts of the Russian invasion of Ukraine remains telling
Kenya’s gross domestic product is projected at 5.5 per cent in 2022, lower than last year’s 7.5 per cent, owing to persisting drought and Russia’s invasion of Ukraine.
According to a Knight Frank finding, Kenya has no significant direct trade with Russia and Ukraine. In fact, only 2.1 per cent of Kenya’s trade between 2015 and 2020 was from Russia and Ukraine combined.
Nevertheless, the report noted that …
- Technology company Little has announced plans to construct a commercial office building in Lavington, Nairobi, using commercial mortgage loans
- The cost of the construction is estimated to come in between KSh 597.9 million and KSh 717.4 million, and will begin in 2023 on an undisclosed size of land in Lavington
- Little began its operations in 2016 as a taxi-hailing service provider and is currently based in Craft Silicon Campus building in Westlands, along with its parent company, Craft Silicon Limited
Kenyan-based technology company Little has announced plans to construct a commercial office building in Lavington, Nairobi, using commercial mortgage loans.
According to Cytonn Investments, the construction cost would be estimated to come in between KSh 597.9 million and KSh 717.4 million and will begin in 2023 on an undisclosed size of land that the company owns along Kabasarian Avenue.
Little began its operations in 2016 as a taxi-hailing service provider …
- Johnson & Johnson and the Ministry of Kenya have signed an MoU to facilitate access to quality mental healthcare services in Kenya
- The MoU that would see Kenyans would benefit from improved access to effective and appropriate mental healthcare services and products.
- It would also see Johnson & Johnson support the development of a Psychiatric Telemedicine Solution in Kenya
Kenya’s Ministry of Health has signed a collaborative pact with Johnson & Johnson to facilitate access to quality mental healthcare services in Kenya.
On September 2, 2022, the ministry signed a Memorandum of Understanding (MoU) that would see Kenyans would benefit from improved access to effective and appropriate mental healthcare services and products.
The Ministry of Health Principal Secretary Susan Mochache said the deal would also see Johnson & Johnson support the development of a Psychiatric Telemedicine Solution in Kenya.
She noted that mental health is a public health threat. She …
- Kakuzi Plc’s inaugural Hass Avocado export cargo to China has been sold-out, paving the way for the pre-export planning for a second load to be delivered in October
- The firm’s Managing Director Christopher Flowers revealed Kenya has a bright market future in China, which they believe will absorb larger volumes like other traditional European markets
- Kakuzi also revealed that it is currently exploring the Malaysian market as part of its market diversification strategy
Kakuzi Plc’s inaugural Hass Avocado export cargo to China has been sold out, paving the way for the pre-export planning for a second load to be delivered in October.
The firm’s Managing Director Christopher Flowers revealed Kenya has a bright market future in China, which they believe will absorb larger volumes like other traditional European markets.
Kakuzi also revealed that it had begun plans to explore the Malaysian market as part of its market diversification strategy.
“The …
