By David Whitehouse Gateway Real Estate Africa (GREA) has raised more than Sh21.5 billion in equity and debt to fund its expansion in Kenya, Nigeria, Ghana and Mauritius. The amount will increase by the time the fundraising ends in early October. According to GREA chief executive Greg Pearson, the organization will use the money to increase investments in data centres, as well as embassy, educational, healthcare and light industry properties. Data connection Africa needs more data centres. Only a third of the continent’s 80 metropolitan areas with a population of more than one million have at least one built-for-purpose data centre, according to the Africa Data Centres Association…
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By Victor Adar Consumers will soon be able to buy vegetables and fruits bearing a quality mark from the supermarkets and other retail stores after the unveiling of the KS1758 Code of Practice. The adoption of the KS 1758 mark of quality is part of a campaign to ensure fresh produce industry players have a quality reference when handling fresh produce, as the government looks to standardize food safety and quality, and facilitate sustainable market access through the retail outlets. The process will start with the formal sector, such as supermarkets and e-commerce vendors, with the first certification projected to…
East Africa will most likely lead the post pandemic recovery – Experts By Victor Adar Over the past 18 months, real estate developers and investors have faced many challenges. But the 8th Annual East Africa Property Investment (EAPI) summit held on July 7, paints a bullish picture. Themed “Reposition & Reimagine”, the event sought to pass the message that investing in real estate is primed to build the foundations for a more sustainable and inclusive future. “We have seen development being driven by new demand and changing market dynamics across the sector. This has led to investment in logistics and light…
Leadership must be ingrained in children from an early age if we are to solve the current skill gaps By Mwangi Muchiri The shortcomings of poor leadership manifest in every aspect of human life. One only needs to watch or listen to the national news to familiarize themselves with the sufferings of ordinary citizens brought about in part by poor choices made by leaders. While poor self-seeking leadership is not a preserve of Kenya, it ravages African nations like a plague. A wealthy continent wallows in squalor and oscillates uncertainly under the burden of greedy, self-seeking leaders. Good leadership is what will propel…
BY VICTOR ADAR The improved performance comes after eight years Kenya Revenue Authority (KRA) has surpassed its revenue collection target in the financial year 2020/2021 by Sh1.669trn compared to the previous financial year’s Sh 1.607trn. According to the authority’s commissioner general Githii Mburu, the target as reflected in the 2021 budget policy statement was Sh 1.652trn, amount which was surpassed with a surplus of Sh 16.808bn, representing a performance rate of 101% and revenue growth of 3.9% compared to the last financial year. “This performance is consistent with the prevailing economic indicators, especially the projected GDP growth of 0.6% in 2020,” Mr Mburu said in a press statement. “In…
While we in Singapore decided to march forward together as a nation, you in Kenya decided to assassinate Tom Mboya – Lee Kwan Yew BY GAD WESONGA In his book, A leap into the Future,A Vision for Kenya’s Social-politicalandEconomic Transformation,Prof Anyang’ Nyong’o, now Kisumu County Governor relives his 1994 encounter with Lee Kwan Yew, the legendary Asian leader while in Singapore for the Africa-Singapore Encounter conference. After his speech that revolved around “What Singapore Can Learn from Africa and What Africa Can Learn from Singapore,” it was question time for the great Lee, then a senior Cabinet Minister after his…
Kenya has a unique place in the global IT landscape, its industrious people stand out as well as their readiness to embrace technology BY VICTOR ADAR Echotel’s Ken Munyi has always been in information technology, finance and administration management space. An exciting 15 years’ journey has seen him lead organizations both in Kenya and Tanzania. Mr Munyi began his career with Fellowship of Christians Unions (FOCUS) as an accountant before moving to Africa Online in Tanzania where he joined as assistant accountant. He grew through the ranks, and would be a finance manager in the East African country with the…
Latest reforms in line with the Capital Markets (Coffee Exchange) Regulations, 2020 The Capital Markets Authority (CMA) has approved five coffee brokers to carry out the role of coffee brokerage services at the Nairobi Coffee Exchange (NCE) with effect from July 1, 2021. Meru County Coffee Marketing Agency Limited has been granted a full coffee broker licence while Kipkelion Brokerage Company Limited, Murang’a County Coffee Dealers Company, Mt Elgon Coffee Marketing Agency Limited and United Eastern Kenya Coffee Marketing Company Limited have been granted conditional licences. They are expected to come into full compliance with the requirements of the Coffee…
Plan International and auto mobile manufacturer, Hyundai, plan to sponsor 120 young women and girls from the ages of 18 to 35 years from disadvantaged backgrounds across the country in a move to boost automobile training capacity. The beneficiaries will be enrolled in a 9 months training course in motor vehicle auto-electrics at the Hyundai Dream Centre located at National Industrial Training Authority’s (NITA) Athi River campus. Done in partnership with the Salvador Caetano Kenya organisation and funded by Hyundai Motor Company, the project is expected to improve the training facility to modern standards while developing capacity for young people with…
BY GILBERT MUYUMBU Perhaps nothing sums up the promise of the NARC administration better than seeing the newly appointed Tourism minister Raphael Tuju walking to KICC and throwing officials of then just defeated ruling party KANU, out of the party’s headquarters at the Kenyatta International Conference (now Convention) Centre (KICC). This was one of the very first acts of reclaiming public property from the misappropriation it had been subjected to under the just-ended KANU regime. The KANU administration had turned the publicly-funded KICC into its party headquarters, but NARC, having campaigned on a platform of reclaiming public property lost to…