Author: NLM Correspondent

Sarova Hotels and Resorts, Kenya’s collection of hospitality establishments, has added Imperial Hotel Kisumu to its portfolio after the signing of a 7-year management agreement with the hotel’s owners, the Gilani family. Imperial hotel will now be named Sarova Imperial Hotel Kisumu, and will be the group’s eighth hotel in Kenya. By establishing a presence in Kisumu, Sarova Hotels is now operating properties in the country’s four cities – Sarova Stanley and Sarova Panafric in Nairobi, Sarova Whitesands Beach Resort in Mombasa, Sarova Imperial Hotel in Kisumu, and Sarova Woodlands and Sarova Lion Hill in the new city, Nakuru. Speaking…

CFAO Motors Kenya has started the construction of its premises in Kisumu County that will host the CFAO Motors Kenya Kisumu branch. The 3,600 square metre facility located at Nyamasaria and which will take 12 months to complete, will add 40% more space from CFAO Motors Kenya current operations in Kisumu that will include 12 service bays, more parking space for customers and increased space to display the auto distributor’s expanded portfolio that now houses Toyota, Hino, Suzuki, Yamaha, Automark, AutoFast and winparts. Speaking at the ceremony, Managing Director, Arvinder Reel said the new branch construction is a show of…

Kenya passed the Nairobi International Financial Centre (NIFC) Act in 2017 to establish a financial centre, a move that is hoped to transform the country into a financial hub and increase foreign direct investment opportunities. The country is expected to formally launch the financial hub in June of this year. Financial centres have the potential to increase the popularity of Kenya as a financial hub and help it catch up with or even surpass the other International Financial Centres (IFCs) in Africa – Casablanca, Cape Town, Mauritius, Kigali, Lagos and Johannesburg. IFCs are specialised legal institutions and regulatory frameworks that…

With over 600 million people without access to electricity, Africa cannot and should not leave its oil and gas resources on the ground While western nations are calling for the abrupt end to fossil fuel utilization in Africa, countries like the UK and Norway continue to hold licensing rounds intended to scale-up exploration and production. With Africa’s socioeconomic development hinging on the exploitation of the continent’s oil and gas resources, this hypocrisy could spell a travesty for Africa. As western organizations such as Greenpeace move to end African hydrocarbon investment in the name of climate change, shouldn’t European nations move…

Africa faces a huge digital skills gap, diluting economic opportunities and development. According to a study by the International Finance Corporation (IFC), some 230 million jobs across the continent will require some level of digital skills by 2030, according to a study by the International Finance Corporation (IFC). This translates to a potential for a staggering 650 million training opportunities and an estimated $130 billion market. And with the COVID-19 pandemic forcing many businesses to go digital to survive, the need for these skills has become more apparent since 2020. In the new global economy, where technology is front and…

By Carolyne Tanui The effect of climate change has been felt majorly across the globe in recent years with increased impacts that have taken a toll on the day-to-day activities of human beings. Several activists and organizations have taken lead in encouraging humans to adopt environmentally friendly activities and initiatives that will reduce carbon emissions and lower the impact of climate change. In a bid to be part of the green initiative, several developers within Nairobi have opted for green buildings whose design, construction, or/and operations reduce or eliminate negative impacts, and can create positive impacts, on the climate and…

Africa presents a pool of economic opportunities in virtually every sector, and the continent’s youthful population structure is an enormous opportunity in this digital era Africa has in recent years witnessed the emergence of young talents who have gained global recognition with their innovations. One of such talents is Danny Manu, who is setting trends in communication. The Ghanaian-British digital entrepreneur has gone global by introducing what is described as the world’s first completely wireless headphones with live voice translations in 40 different languages. After successfully delivering on his first true wireless translation earbuds, Mymanu CLIK, the 33-year-old, keeps setting…

Changing home buyer behaviour among Africa’s high net worth individuals is inflating demand for ultra-luxury condos and penthouses in some of the continent’s most iconic cities, with South Africa receiving the bulk of investment in that segment. By Seth Onyango Sandton, a bustling financial district in the heart of Johannesburg, South Africa epitomises fine living and extravagance in Africa. But it is its exclusive real estate offerings, one that caters to every taste, that sets it apart as one of the continent’s top destinations for luxury city living. According to the international luxury real estate listings site, Mansion Global, the…

By Conrad Onyango Africa’s natural resources, wildlife and sandy beaches have historically driven foreign investments into the continent. Now, however, a youth “bulge” and the 2021 launch of the African Continental Free Trade Area Agreement (AfCFTA) is adding glitter to Africa’s growth and investment prospects – and governments are taking notice. Until recently, the continent has not been able to fully tap into a regional and global trade opportunity worth over $3 trillion – largely due to poor infrastructure, worsened by funding gaps; that appears to be changing. Africa is witnessing a rise in mega infrastructure construction activities and funding…

By Antony Mutunga Despite being in recovery after facing a difficult start in the pandemic, private investment in 2021 hit a record high in the last five years. According to the African Private Capital Activity report by African Private Equity and Venture Capital Association (AVCA), private investment reached Sh856.2bn ($7.4bn) as compared to 2020, where it stood at Sh393.4bn ($3.4bn). For a while, Africa has maintained its resilience and continued to be among the leading regions with vast potential. The case has been similar in the past — whether with a pandemic, periods of political instability, or financial crisis, and…