Browsing: Kenya

• Africa’s hospitality sector has matured in ways that not only meet but anticipate the desires of modern travellers.
• By embracing responsible tourism, fostering local community interactions, and providing avenues for health and wellness, Africa is redefining what it means to travel meaningfully.
• Africa’s lower cost of living is making it an attractive destination for digital nomads.

Africa’s hospitality sector has long offered unique experiences and the 2025 travel trends show a continent aligning in unique way to tap changing preferences of holidaymakers from different source markets across the world.

By February this year, an estimated 150,000 European tourists had visited South Africa. The succeeding months look promising as this year’s United Nations Tourism Report says there is increasing interest in East and West Africa holiday destinations by holidaymakers from Europe.

At the moment, tourists from Britain and German are the trailblazers with their changing values and preferences setting the tone …

• A new survey shows that trash disposal, including plastic waste, is the top concern for urban communities.
• Nearly half (46 per cent) of Africans believe citizens have a big role in addressing pollution.
• An estimated 78 per cent of Africans want their governments to do more to limit environmental pollution.

Across Africa, environmental pollution has become increasingly urgent, with two-thirds of citizens describing it as a severe community issue. From urban centers choked by trash to rural areas grappling with deforestation, the environmental challenges are as diverse as the continent.

The Afrobarometer survey reveals that trash disposal, including plastic waste, tops the list of concerns for urban communities, cited by 37 per cent of respondents across Africa.

In rural areas, deforestation takes the lead at 28 per cent. Water pollution (17 per cent), air pollution, and poor sanitation also rank high, painting a grim picture of environmental degradation across countries.…

• AMSONS Group granted regulatory go ahead to acquire Bamburi cement.
• The family-owned business has partnered with KCB Investment Bank as its transaction adviser.
• Amson made its initial offer when Bamburi Cement’s shares were trading at Sh45, but the stock has since risen, trading at Sh66 on Thursday afternoon.

Tanzanian business conglomerate AMSONS Group has received regulatory approval from the COMESA Competition Commission for its proposed acquisition of up to 100 per cent of Bamburi Cement.

The move coming at a time that Kenya’s Savannah Clinker Limited has already raised its bid for the acquisition of Bamburi Cement, even though its offer already exceeds Tanzania Amsoms’ competing offer.

In a statement, the COMESA Competition Commission confirmed that the proposed acquisition falls within its ambit and does not pose a competition risk within the common market.

“It is unlikely that the proposed merger will lead to the creation of a dominant position …

• Bad weather is severely affecting Brazil, and Vietnam’s coffee output.
• Coffee prices are soaring as global supply decreases from the South American countries.
• As Brazil and Vietnam take a hit, East African coffee producers stand to gain as prices increase.

Coffee output in Brazil and Vietnam has taken a hit owing to bad weather affecting global supply, a scenario that could turn the tide in favour of the bean producers from East Africa.

At the moment, Brazil, which is the world’s largest coffee supplier, is facing worsening drought that is expected to further affect the optimum production of the crop in this year.

Since April 2024, rainfall in Brazil has been below the required amount, which has in turn severely affected the flowering of coffee trees and therefore, overall production.

According to the ICE, there is a drastic decline in arabica coffee stocks which are reported to be at a …

• Stanbic PMI Report shows that purchasing efforts accelerated in October, leading to the greatest upturn in inventories since August 2023.
• PMI readings below 50 signals a decline in month-on-month private sector activity, while levels above point to growth.
• While tax payments and higher material prices drove expenses up at several firms, reduced fuel prices partly countered this.

Kenya’s private sector activity improved marginally in October, boosted by a rise in employment and growth in output, according to the Stanbic PMI Report. The Stanbic Kenya Purchasing Managers’ Index (PMI), which measures the performance of key private sector indicators such as output, new orders, and employment, rose slightly to 50.4 in October from 50.0 in September.

PMI readings below 50 signal a decline in month-on-month private sector activity, while levels above point to growth. The index shows that activity in the review period expanded amid a broad stabilization of new work, …

• Africa Trade Barometer has ranked Kenya sixth after South Africa, Namibia, Mozambique, Tanzania, and Nigeria.
• Kenya’s macroeconomic environment has demonstrated a moderate contribution to the nation’s trade attractiveness.
• A total of 235 businesses were surveyed in Kenya, located in Nairobi, Mombasa, Nakuru, Kisumu and Eldoret.

Kenya has fallen one place in Africa’s trade index by Stanbic Bank, as the country navigated a challenging macroeconomic environment marked by high interest in the first half of the year.

Latest Stanbic Bank Africa Trade Barometer has placed Kenya sixth after South Africa, Namibia, Mozambique, Tanzania and Nigeria.

Kenya has nevertheless beaten Ghana, Zambia, Uganda and Angola in the index which surveys 10 key economies in Sub-Sahara Africa, looking into trade openness, access to finance, macroeconomic stability, infrastructure, foreign trade, governance and economy, and traders’ financial behaviour.

According to the report, the country recorded drops in macroeconomic stability, governance, quality of infrastructure and …

• Sudan has stepped forward, increasing its pledge to $3 million in the African Development Fund.
• Sudan’s pledge aligns it with other African nations, which have each committed to raise at least $1 million to the fund by 2025.
• With backing from The Gambia, Liberia, Sierra Leone, and Ghana, Africa’s commitment to funding its key projects is strengthening.

African nations are coming together to secure a $25 billion replenishment for the African Development Fund (ADF), an ambitious target that signals a continent-wide push toward self-driven financing for projects.

In the latest update, Sudan has stepped forward, increasing its pledge to $3 million in this collective movement. With backing from countries including The Gambia, Liberia, Sierra Leone, and Ghana, Africa’s commitment to funding its development projects is strengthening.

As governments, led by the African Development Bank (AfDB), advocate for this replenishment, they set a critical precedent for financial autonomy in achieving Africa’s …

• Financing by Venture Capital Firms (VC) is the leading source for injecting capital into startups, accounting for 29 percent of the deals.
• Findings show that venture debt is becoming a crucial funding tool, especially for climate tech startups with limited access to traditional equity financing.
• The survey notes that to support this growth, investments in digital and energy infrastructure are essential.

Kenya is emerging as a leader in sourcing capital for its agricultural technology and food startups across the African continent. A large portion of capital for African startups still comes from foreign countries, with approximately 60 per cent, coming from international sources, primarily the United States and the United Kingdom.

On the continent, however, most investors are concentrated in Kenya, Nigeria, and South Africa, where innovation and funding activity are most prominent. Large-scale investments in solar energy solutions and precision agriculture partly drive Kenya’s dominance in the sector.

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• Kenya’s banking sector corporate taxes have been on the rise in the past few years.
• A new analysis shows that the contribution of the banking sector towards Pay-As-You-Earn was 7.79 per cent of all PAYE collected in the country.
• The study included 43 institutions—37 banks and six microfinance institutions.

The total tax contribution (TTC) from Kenya’s banking sector reached $1.5 billion (KSh190.26 billion) in 2023, a 4.96 per cent increase from the previous year, the Kenya Bankers Association has said. This marks the highest TTC since the study began in 2017, representing 8.78 per cent of the total government tax receipts for the financial year ending in June 2023.

According to the Banking Sector Total Tax contribution report, the TTC comprised $793 million (KSh102.52 billion) in taxes borne by the participating banks and microfinance institutions and $678.8 million (Ksh87.74) billion in taxes collected.

While the overall tax contribution grew, …