Kenya’s housing sector is largely characterized by deteriorating housing conditions countrywide arising from a demand that far outpaces supply, particularly in urban areas. According to the National Housing Corporation (NHC), Kenya has a cumulative housing deficit of 2m units growing by 200,000 units per year driven mainly by rapid population growth of 2.2% p.a. compared to the global average of 0.9%, and a high urbanization rate of 4.3% against global and Sub-Saharan averages of 2.1% and 4.1%, respectively. Supply, on the other hand, has been constrained mainly by the high construction costs, high costs of land in urban areas as…
Author: Nairobi Business Monthly Reporter
BY DR AKINWUMI ADESINA The Department for International Development (DFID) is a key strategic partner of the African Development Bank. Since joining the bank in 1983, the DFID has been a lead supporter of the African Development Bank. Its strong and consistent support for the African Development Fund has helped us to support the development of low-income states, especially the fragile ones. And just think of the impact that our work has had on infrastructure alone in the past four years. The African Development Bank, through its operations, has helped to connect 18 million people to electricity, 101 million people with…
BY LERISHA NAIDU Kenya introduced in late 2019 the Competition Rules, 2019 to govern the Competition Authority of Kenya’s functions under the Competition Act No. 12 of 2010. The rules touch on some of key issues in merger transactions including merger thresholds, excluded transactions, filing and approvals. Any merger that will meet any of the following thresholds will now be mandatorily notifiable to the Competition Authority of Kenya (CAK): a minimum combined turnover or assets, whichever is higher, of Sh1 b and a turnover or assets, where the turnover or assets, whichever is higher, of the target undertaking is above…
BY DAVID ONJILI As of November 2019, the population of China stood at 1.435 billion. China remains the world’s second largest economy just behind the United States of America (US). These numbers make China not just the most populated country in the world but an economic superpower. President Xi Jinping is reliably rumoured to be at the heart of China’s aggressive use of sports to launder the image of his Communist Party and himself abroad. Knowing well that his nation’s economic growth is not as fast as the growth of her population. Thus, exporting labour abroad ,as Chinese companies and…
BY JAVAN BWIRE They came, perched and spread. From Isiolo to Meru, and now in Kirinyaga. Their itinerary is unkown. Their movement is seemingly unstoppable and their eating habits; an insatiable appetite for green cover, is immeasurable. The farmers are horrified. The National Government is terrified. It is miffed perhaps because of frustration on the best way to deal with the locusts that lavishly feast on every green leaves and leave behind leafless plants, tree stumps and agonizing farmers. Meanwhile, former Cabinet Secretary Agriculture, who was expected to think creatively and come up with effective ways of solving agricultural…
Now that there is a crack in their relationship, it will be difficult for the DP to marshal government machinery in his quest to ascend to power BY JACOB OKETCH The Kenyan political situation calls for a delicate balance among leaders in their quest to secure their interests and those of the populace. The forthcoming elections have jolted leaders into an early campaign mode even as President Uhuru Kenyatta strives to successfully steer his big four agenda, the plank of his legacy given that he is serving his final term. The key political players in this matrix are the President…
A corn Holdings, Nairobi-based property developer, listed the first green bond in East and Central Africa after it introduced its Sh4.3b green bond on the Nairobi Securities Exchange (NSE) in January 2020. Same month, the company put Kenya on the map by floating its green bond at the London Stock Exchange (LSE). The bond became the first Kenya shilling denominated corporate green bond to be listed in the United Kingdom. Green bonds are designed to mobilize resources from domestic and international capital markets for the adaptation of climate change, projects involving renewables and other environment-friendly projects. These bonds mainly finance…
The manufacturing sector has played a major role all over the world in helping economies realize high growths and better incomes. It has been a key factor in sustaining development, job creation and in alleviating poverty. However, in Africa the sector’s contribution to economy has stagnated and reduced in a number of countries. In Kenya the sector had stagnated for the longest period being only able to grow at 0.5% in 2017. Since then, it has shown signs of growth as according to the Economic Survey 2019, the sector had increased its growth to 4.2%. This can be accredited to…
According to data from the National Treasury, the Kenya Revenue Authority has missed its half-year target by Sh88.3b. The records indicate that the revenue authority was not able to hit any of the targets in its tax categories. KRA projects to raise Sh1.8 trillion by June 2020 as compared to the Sh1.58 trillion collected in FY2018/2019. In the six months to December 2019, the authority was able to collect returns 18.8% higher than it had in the same period in 2018 which stood at sh722.3 billion. Despite the rise, the income tax did not managed to meet its target. KRA…
BY PATRICIA SCOTLAND Cyclones in the Caribbean and Pacific, devastating bushfires in Australia, recurrent floods and droughts in Asia and Africa, increasingly bring tragic loss of life to our nations and communities, inflicting physical and mental trauma on survivors, and causing irreparable damage to centuries old ways of life and undermining prospects for future prosperity and growth. The current bushfires in Australia have been among the most distressing manifestations, leading the government to declare a state of emergency. The total cost to the economy of the bushfires with which Australia is grappling seems likely to run into billions of dollars.…