Author: Korir Issa

Kenya’s National Environment Management Authority (NEMA) has introduced a proposed three-colour coding system for non-hazardous waste, designating green for organic waste, blue for recyclables, and black for general waste. This initiative is mandated by the Sustainable Waste Management Act of 2022, which requires the establishment of a national colour coding system. While seemingly straightforward, the colour coding system has implications for manufacturers, waste management companies, and consumers. It is part of a broader push by NEMA to improve waste management practices in the country. Previous measures include the 2017 ban on single-use plastic bags, which has led to the emergence…

Nairobi’s property market continues to show resilience, with land prices increasing across both suburbs and satellite towns in the first quarter of 2024. According to Hass Property Price Index for the second quarter of 2024, suburban land prices rose by an average of 1.3% per acre, while satellite town prices increased by 3.03%. On an annual basis, suburban land values appreciated by 5%, compared to a more substantial 11.2% increase in satellite towns. “Satellite towns are driving the revival of land as a competitive asset class with an average annual growth of over 10%. With interest rates projected by the…

East African Breweries (EABL) net earnings plummeted by 12% to KES 10.9 billion in the fiscal year ending June 30, 2024, primarily due to a surge in illicit alcohol consumption. The company grappled with a challenging operating environment characterized by high interest rates, forex losses, inflation, and social unrest across its East African markets. EABL Chairman Martin Oduor Otieno disclosed that the challenges led to foreign exchange losses surging by 10% to KES 28.8 billion. Economic pressures compelled consumers to shift towards cheaper, illicit alternatives, impacting EABL’s sales. Despite a 13% increase in net sales to KES 124.1 billion, driven…

Kenya’s retail market outlook remains neutral due to a complex interplay of positive and negative factors according to Kenya Retail Report 2024. Positive factors expected to drive increased demand for retail space include Nairobi’s growing reputation as a shopping destination, improving infrastructure, a rising middle class, and expansion efforts by both local and international retailers. Conversely, negative factors likely to constrain demand and hinder retail space uptake include a significant oversupply of retail space in key regions, the rapid growth of e-commerce, declining consumer spending power, and political instability. According to Cytonn Investments, Kenya’s retail landscape underwent a significant transformation…

Kenya’s Gedi Ruins, a remarkable testament to Swahili civilization, have been inscribed on the UNESCO World Heritage List. Joining iconic sites like Mount Kenya and Lamu Old Town, Gedi is now recognized for its exceptional cultural and historical significance. “We are deeply honoured by this inscription, which underscores the importance of safeguarding and promoting our rich cultural heritage,” stated Mary Gikungu, director general of the National Museums of Kenya (NMK). Hidden within a lush coastal forest, the Gedi ruins offer a captivating glimpse into a once-prosperous Swahili city that flourished between the 13th and 17th centuries. The site’s remarkably preserved…

British American Tobacco Kenya (BAT Kenya) has reported a decline in profits for the six months ended June 2024. The company’s turnover dropped by 6.47% to Ksh19.64 billion, while operating profit fell by 2.96% to Ksh3.77 billion. Profit before and after tax both declined by 24.31% to Ksh3.05 billion and Ksh2.14 billion, respectively. “The operating landscape was characterised by geo-political disruptions, inflationary pressures and currency volatility. During the period, the Kenya Shilling recorded a significant appreciation (approximately 22 per cent) against the United States Dollar (our exports trading currency) which resulted in substantial foreign exchange losses,” said Waeni Ngea, BAT…