Opportunity in Kenya’s retail sector is within the county headquarters according to a report published by Cytonn Real Estate. The demand is being driven by devolution and the increased retail business to serve the increasing urban population. For instance, in Kisumu and Mt. Kenya regions, the retail space demand of 0.3mn and 0.2mn SQFT has attractive yields at 8.3 per cent and 9.9 per cent and occupancy rates at 96.3 per cent and 84.5 per cent, respectively. This is, compared to the market average rental yield of 8.6 per cent and occupancy rates of 86.0 per cent. However, the Nakuru…
Author: David Indeje
David Indeje
David Indeje serves as the community engagement editor at Khusoko, a digital platform covering East African business news. He manages editorial content, engages audiences, and amplifies diverse voices while consulting on digital strategy for brands in agriculture, governance, technology, and health. Indeje explores AI’s impact on journalism and works as a communications officer at KICTANet.
Africa’s growth potential is positive, with a projected economic growth of 3.1 per cent in 2018 and 3.7 per cent by 2020, according to the World Bank. This has been attributed to rising commodity prices. This is compared to an expected rate of 3.4 per cent in the gross domestic product compared to 2.8 per cent in 2017 in the International Monetary Fund’s (IMF) Regional Economic Outlook report for the Sub-Saharan Region. In fact, foreign direct investment in Africa has been on the rise, despite a 21 percent decline from 2016, according to UNCTAD’s World Investment Report 2018. However, this…
East Africa’s leading apparel and household goods retailers, Deacons (East Africa) Plc (NSE: DCON) has issued a profit warning for Full Year results in 2018. The Board states that this is based on “The preliminary assessment of unaudited financial statements of the Group for the half year period ended 30 June 2018 and the forecast to 31 December 2018.” “The projected earnings of the Group for the current financial year are expected to potentially decrease by at least 25 percent compared to the financial year ended 31 December 2017.” This is attributed to slow economic start in 2018 from the…
Regional cement maker ARM Cement PLC’s (NSE: ARM) has been put into administration, PricewaterhouseCoopers under Kenya’s 2015 Insolvency Act. PricewaterhouseCoopers in a statement on Saturday said it has appointed Muniu Thoiti and George Weru as joint administrators. “With their appointment, the Administrators shall now take control of the business assets and the management of the affairs of the company without any personal liability,” PWC said. “By virtue of the Administration, the powers of the directors of the company in terms of dealing and/or transacting with the company’s assets have ceased, unless with the express permission of the Administrators.” The ARM…
Barclays Bank of Kenya (BBK), a subsidiary of Absa Group Limited has reported a profit after tax of KES 3.8 billion for the period ended 30th June 2018, a growth of 6 percent compared to a similar period last year attributed to a 5 percent growth in total income. However, the results were “Partially offset by growth of 3 percent and 27 percent in costs and impairment, respectively,” read a statement sent to media. In this years’ results: Customer deposits grew by 15 percent to Kshs.217 billion with transactional accounts constituting 66 percent of the total deposits. Net Customer loans up…
Safaricom, Kenya’s leading communications company have said it will not re-engage itself in the emerging price wars. “We are seeing a replay of history which is incredible. We are seeing a new price war coming,” Safaricom CEO Bob Collymore told reporters in Nairobi. “If you can start charging people those kinds of low prices, you are not going to be able to invest in the industry. That is going to cost you problems at some point,” remarked Collymore. We are not going to move our prices. We have to maintain a sustainable business,” affirmed the Safaricom CEO. Read: ‘I’m Back’ Bob…