Author: David Indeje

Kenya’s foreign exchange reserves likely fell $8.2 billion from the peaks as the central bank intervened to reduce the slide of the currency. Kenya’s reserves fell from its peak of $8.8 billion in mid-September to $ 8.2 billion during the week ended 22 October, the latest data released by the Central Bank said. Consequently, the import cover has been declined from 5.36 months as at September 17, 2020, to 4.99 months on October 22, 2020. “This meets the CBK’s statutory requirement to endeavour to maintain at least 4 months of import cover, and the EAC region’s convergence criteria of 4.5…

Sentiments in the Kenyan real estate market are turning optimistic according to Vaal Real Estate, a local realtor. Prit Shah, Sales Manager at Vaal Real Estate described the market as ‘positive’. “Kenya is one of the most stable markets in the region both politically and economically. We are not depending on any natural resources we depend on business alone.” He adds that the market has not been hit as hard by the Covid-19 pandemic compared to other countries have.  “By the middle of next year,  We see when two of our projects lift off, there will be a high rise…

As part of its commitment to changing the real estate market by understanding and satisfying the needs of potential and future homeowners, VAAL Real Estate has completed its apartment project in Kileleshwa, Nairobi. The development comprises of one, two, and three-bedroom apartments dubbed ‘Moon Valley’. Located in Kileleshwa along Mandera Road, the Moon Valley Dubai style Apartments are sophisticated and luxurious inspired by the glorious sand-castle designs in Dubai. The property seats on 0.8 acres comprising of 3 blocks, Block A with 28 units, B 56 units, and C 84 Units totalling 168 units. It has taken four years…

Diaspora remittances inflows into Kenyaremains as strong as ever despite the global downturn caused by the Covid-19 pandemic says the Central Bank. Data from the Central Bank indicates that remittance inflows remained strong in September amounting to USD 260.7 million compared to USD 214.7 million in September 2019, an increase of 21.4 percent. The cumulative inflows in the 12 months to September totalled USD 2,967 million compared to USD 2,786 million in the 12 months to September 2019.  The US remains the largest source of remittance flows to Kenya recording a growth of 25.2 percent in the year to September.…

Kenya’s national football team, Harambee Stars, improved 3 spots to be placed at the 103rd position in the latest FIFA world rankings released Thursday. The national team has 1205 points, four behind Libya, and one ahead of Palestine. Uganda is the highest-ranked nation from the CECAFA region with 1321 points in 78th position. Senegal remains Africa’s highest-ranked team in the 21st position, followed by Tunisia in 26th and Algeria in the 30th. Nigeria and Morocco complete the African top 5 in 32nd and 39th positions respectively. Top ten teams in Africa 1.Senegal 2.Tunisia 3.Algeria 4.Nigeria 5.Morocco 6.Ghana 7.Egypt 8.Cameroon 9.Mali…

Kenya tea exports have dipped marginally from 337,000 tons in 2019 to 323,000 tons in 2020 according to data. The Tea Directorate says this is due to a decrease in the demand for the produce in the world market which witnessed a 7 percent drop in exports to Pakistan and a 14 percent drop in exports to Egypt.  Pakistan is Kenya’s largest market, shipping about 36 percent of the total production. On the other hand, the volume of tea produced in the eight months grew by 33 percent representing 375,000 tons against 281,000 tons in the same period in 2019.…