From 2000 to 2008, Nairobi added 72 000 square meters of retail real estate to East Africa’s largest commercial hub. This build was spread across three shopping precincts. In the nine years from 2009 to 2017 the city added another 351 900 square meters of retail real estate across 17 developments. This expansion represents nearly five times the retail real estate build of the previous decade. Kenya’s strong economic growth of the last decade presented a favourable retail real estate investment proposition. The country’s relatively sophisticated domestic retail and real estate investment sectors were not slow to leverage this opportunity. The country’s…
Author: NBM CORRESPONDENT
NBM Writer A new Bank Outlook report by credit rating agency Moody’s shows that although banks will maintain solid capital and liquidity buffers, macro conditions will remain difficult in the majority of African countries. According to the report which was released on 12th December 2017 , despite showing improvement, economic growth will remain below historical levels, while political uncertainty will dampen confidence and governments’ capacity for fiscal stimulus will be limited. The report identifies several high risk contagion channels for banks such as large holdings of government securities, which link their credit profiles to that of their respective sovereign authorities’ reduced…
Kenya is emerging from a protracted presidential election process and seeing a return to political stability. Nonetheless, challenges will persist in 2018 for organisations operating in the country and East Africa more widely. High debt levels in Kenya and unpredictable policymaking in Tanzania are among the key risks for businesses operating in the region in the year ahead, says specialist global risk consultancy, Control Risks, in its annual political and security risk forecast – RiskMap. Management of high debt levels and regulatory uncertainty in some markets will pose key risks for business in 2018. “2018 is set to be a…
BY ANTONY MUTUNGA For my fellow Africans, the free movement of people on our continent has always been a cornerstone of Pan-African brotherhood and fraternity. The freer we are to travel and live with one another, the more integrated and appreciative of our diversity, we will become. Today, I am directing that any African wishing to visit Kenya will be eligible to receive a visa at the port of entry – President Uhuru Kenyatta The inauguration of Uhuru Kenyatta’s second term as President of Kenya was an interesting one as it saw him welcome all Africans to visit the country…
By Elsie Oyoo Aclient and their lawyer exchanged emails to arrange a meeting. Both thought that everything had been adequately planned. However, the client did not arrive at the lawyer’s offices on the date of the intended meeting. Neither did the lawyer turn up at the client’s offices. You can avoid such mishaps by preparing for your client-lawyer meeting, concentrating on the following key areas. 1. Establish whether the lawyer can act for you When you hire a lawyer, their ability to represent you should not be compromised by the fact that they are in a conflict of interest situation.…
BY DAVID ONJILI A report released last November by the World Internal Security and Police Index (WISPI) has ranked the Kenya National Police Service as the third most corrupt in the world at number 124 of the 127 ranked Police Services. Singapore was ranked best at number one as Netherlands, Denmark, Sweden and Switzerland all made the top ten. Interestingly, Botswana, the best ranking African country came in at 47 with Rwanda at 50. Africa dominated the worst ranked nations with Nigeria’s force being the most corrupt at 127, followed by Democratic Republic of Congo (DRC). Uganda was the 4th most…
BY KENYATTA OTIENO Construction Review Online describes the University of Nairobi Tower as an epitome of refined architectural skills and a quest to address the increased demand for university education against limited space at the already crowded university. It also says that the building affirms the university’s position as the hub of architectural thought, innovation and champion towards the provision of environmentally friendly-solutions. The tower is a pet project of former University of Nairobi Vice Chancellor and current Chairman of Kenya National ExaminationS Council, Prof. George Omore Magoha. The building made its way to the cover of Prof. Magoha’s autobiography…
BY BARNABAS ONYONKA New years are notorious for stirring up utopian hopes and optimisms in people. It is the time that people set goals that barely last the first month of the year. It is also the time when people adopt resolutions they have been having year in year out but have never achieved anyway. Be that as it may, new years are still favorites to many because they symbolize the start of something new, a chance to start anew on a clean slate. Even as a country we will be looking forward to turn a new leaf on many…
By Victor ADAR In service industry, brand is built based on customers’ experiences. As always the case, if a name is not achieving expectations of the people behind it, or the lot that it is expected to appeal to, a fresh start is usually the best solution. It is because of such dynamics that in September 2016 Royal Orchid rebranded its hotel investments to Azure Hospitality Group in order to get a bigger piece of the pie. According to Vikram Khettry, chief executive of the fresh brand, the need to place emphasis on a new name came at a time…
The leader in digital risk management and threat intelligence, announced several key appointments in December to its management team designed to scale the business in support of company growth following Series C funding earlier in the year. Samantha Murphy (Sam) was appointed to the new post of vice president customer success, tasked in leading the customer satisfaction team that ensures clients across the globe gain the full value and benefits of the company’s SearchLight service. Sam has 20 years of experience building world class technical and customer success centres to serve global enterprise client including with Sage, CMO Software, Trend…