Kenya’s hospitality sector capacity is projected to grow faster than demand but grow more slowly over the 2019-21 period according to the latest Price Waterhouse Coopers (PwC) report. The ‘Hospitality outlook: 2018-2022 8th Annual edition themed Positioning for future growth, Kenya’s tourism industry is set to bounce back to its previous growth path by the end of 2019. “We project room rate growth to average 2.6%, compounded annually through 2022. We expect the average occupancy rate to rise to 58.1% in 2022, up from 47.3% in 2017 but still well below the 62.3% rate in 2012,” states PwC. The report…
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.
The Kenya Bankers Association has welcomed the National Treasury’s proposal to repeal the Banking (Amendment) Act 2016. According to Dr. Habil Olaka, CEO of KBA, this will pave the way for the Treasury and Central Bank of Kenya to work with sector stakeholders to promote financial inclusion and consumer protection. “It will pave the way for the Treasury and Central Bank of Kenya (CBK) to work with sector stakeholders to chart the best way forward that serves the interest of the economy while promoting financial inclusion and consumer protection,” said Dr Habil Olaka, chief executive officer, KBA in an op-ed…
The sector has been riddled with mismanagement, cheap sugar imports, high operational costs and poor cane quality.
Kenya’s largest telecom operator Safaricom Limited (NSE: SCOM) growth will be transformed to a digital company to drive customer experience and growth. To actualise the growth opportunities in connectivity, content innovation, and service platforms, the firm is set to invest close to KES 38 billion in infrastructure expansion. “In FY 2019 we look to drive long-term shareholder value by deploying next-generation network services, leveraging data analytics and segmentation, guided by our purpose of transforming lives to turn innovative ideas into realities,” said the Finance Director Sateesh Kamath.“Safaricom is well positioned to sustain growth in the portfolio and actively manage profitability with…
Finterra, a Singapore-based FinTech company has launched its operations in Kenya due to the technology advancement and high rate of adoption of new technology case in point M-PESA.“Surprisingly very many institutions are running on block chain, the New York stock exchange, standard chartered bank remittances and Singapore airlines all run on blockchain technologies. There many use cases coming up, which will bring blockchain to the mainstream giving value to the technology.” Hamid Rashid CEO Finterra.Hamid Rashid CEO Finterra speaking to participants in Nairobi during the launch.The Fintech company plan to introduce Land management and Ecommerce use cases in the country.Land registries will…
Retail investors are presently focused on Kenya, as both local and international retail brands and developers continue to penetrate the market. This has made it the most dynamic in the East African region. “Growth in Kenya’s retail has been driven by the country’s constant steady growth,” Robert Tashima, Managing editor: Africa, Oxford Business Group. The Group ranks the sector as second-most formalized in Africa. This is due to the increasing urbanization with a rise in the levels of disposable income driving consumer’s preference for organized retail. Cytonn Investments project the country’s retail sector to have a growth Compound Annual Growth…