Tag Archives | Kenya
Cairo-based e-payments firm, the Emerging Markets Payments Company, has just launched its Kenyan office in Nairobi, the seventh EMP office in the MEA region, following Cairo, Lagos, Johannesburg, Cape Town, Amman and Dubai.
The African technology market has emerged on the back of the continent’s mobile networks and is unlocking economic potential on the African continent in some of the most unconventional ways.
Kenya’s financial services industry is currently one of the fastest growing not only in the East African region but the continent with the Nairobi Securities Exchange (a financial assets and securities market) being ranked fourth in Africa.
FDI into Sub-Saharan Africa is expanding – in fact it is presently at its highest level in a decade – but it is notable that this injection of capital is increasingly being directed towards consumer-related markets, among others, and less towards the mining sector.
This year has seen an extremely high incidence of measles in Western and Central Africa, with 34,105 cases reported across the DRC, Guinea, Nigeria, Chad, Cameroon and Benin, and the majority of the ill were children under the age of five.
Africa’s enormous growth potential is now an open secret with the International Monetary Fund (IMF) predicting that by 2015 seven out of the top 10 fastest growing economies will be in the region.
In the aftermath of the Arab Spring, cybercrime in Africa has reached all-time high levels. Unfortunately, unrest, whether it be to overthrow an oppressive regime or not, brings with it an overall increase in violence and crime in an area.
Calgro M3 Holdings, the listed affordable housing company, anticipates further growth into the African markets after making its first venture beyond South Africa’s borders into Namibia with the Otjomuise project in Windhoek.
Africa retail sector on the verge of sky-rocketing with big international brands landing on our shores. Large international retailers eager to get a footprint on the African continent are using South Africa as their vantage point, while they assess their next expansion point into the growing economies of Africa.
Barclays Africa Group is looking to dispose of about R400m assets this year as part of its strategy to exit noncore activities and reduce risk to revenue. The retail and business banking unit is looking to dispose of investment properties while the head office has a number of assets classified as property within corporate real estate services that are classified as held for sale.
Private equity is a vital facet of sustainable development – serving as a mechanism to allow businesses to establish themselves, and to expand. Private equity funds enhance that effect through collective investment, in areas related to private equity: venture or growth capital, distressed investments, leverage buyouts, or mezzanine capital.
In absentia healthcare has been around for a long time, utilising methods such as smoke signals, the post and two-way radio, but with the help of telephony (in particular mobile telephony), the internet and other IT technology such as satellites the possibilities for medical professionals and healthcare staff to communicate with one another and with patients at great distances…
Branchless banking allows the customer to have access to banking services without being reliant on a brick-and-mortar bank branch. Technological advancements and the adoption of a collaborative approach between banking service providers and technology companies are going to forge a new way of doing banking in emerging markets, where transport, electrical and other infrastructure is often underdeveloped.
In 2013, KPMG Africa Lunch with our Leader – a weekly LinkedIn discussion group creating an opportunity for you to engage in meaningful discussion with our leadership – featured one of KPMG Africa’s finest, with 20 years of experience: Sheel Gill, Director of KPMG Kenya.
Air Namibia scooped a Feather Award for the best regional airline at OR Tambo International Airport this year. This is a recognition that Airport Company of South Africa (Acsa) gives key players at its airports who consistently go the extra mile in providing passenger service excellence.
Nigeria’s president faces a daunting task when he presents next year’s budget tomorrow; with tighter spending likely to be shot down the legislators keen to keep the wheels of patronage turning ahead of elections in 2015.
Africa Brief: Standard Bank expands in Africa, IMF urges Sudan to set aside more for the needy and more
Standard Bank opened a representative office in Cote d’lvoire yesterday, taking its footprint to 19 African countries. The representative office, based in Abidjan, “signifies a deliberate drive by Standard Bank into the West Francophone Africa region”, it said.
Africa Brief: AU move leaves ICC relations in tatters, CEOs in Africa expect operations on continent to grow and more…
Algeria wants to revive long-neglected industries as a result of the disappointing economic performance due to its reliance on oil and gas. Prime Minister, Abdelmalek Sellal, told business leaders and trade unionists that “reindustrialisation must be the engine of strong and healthy economic growth”.
Africa Brief: Africa falls far behind in mobile broadband access, Famous brands gets big in Nigeria and more
Whereas the rest of the world prepares to introduce and welcome 5G communications technology, most of Africa is still struggling to launch 2G, let alone 3G technology in their markets which is already behind the LTE and 4G in uses around the world. While Africa is the most rapidly growing market for mobile technology, it still has one of the lowest penetration rates.
Africa Brief: Ghana plans oceanic terminal for imported LNG, Prosecutors Face big test as Ruto appears before ICC and more
In this Africa Brief: Ghana plans to build a floating liquefied natural gas (LNG) terminal off its Atlantic Ocean coast to receive imported gas that would be used to produce up to 1.500MW of electricity by 2016, a senior energy official said in Nairobi yesterday. Kenya’s deputy president appeared before the International Criminal Court (ICC) yesterday charged with co-orchestrating a post-election bloodbath five years ago, a case that will test the stability of a country seen as vital to security in East Africa. Grindrod is already considering a third phase expansion of its car terminal at Maputo port in Mozambique, which is a growing competitor to Trans-net’s car facility in Durban… and more.
One of the key challenges facing the country’s development and progress is corruption. According to the Transparency International 2013 Global Corruption Barometer, Kenya is perceived as the 4th most corrupt nation globally.
It is now more evident than ever before that sustainable development can only take place within the context of a robust private sector equipped to drive growth. A healthy private sector and business-enabling environment helps attract investors, create employment, generate wealth and ultimately reduce poverty.
Kenya is considered the Gateway to East Africa, and has been included on our Consumer Story list of Africa’s most promising countries for retail development. Key to its position on our list is the rapid population growth and good economic growth prospects.
Sierra Leone exported $102 million (R1bn) worth of diamonds in the first half of 2013, up from $71m in the same period from 2012. The government collected $5.1m in taxes in line with the 5 percent export levy.
Africa Brief: Violence in Egypt knocks markets, Ghana’s consumer price inflation, oil thieves in Nigeria and more
Egyptian shares have slumped after police moved to disperse two anti- government sit-ins in Cairo, leaving at least 13 dead. The benchmark EGX 30 index retreated 1.1 percent to 5585.12 at 11.11am in Cairo. The death toll reported by the Health Ministry was disputed by the Muslim Brotherhood, which claims hundreds were killed by security forces…
Africa Brief: ‘Good gains’ in Botswana property investment, Zimbabwe economic activity, growth in Africa and more
In this Africa Brief: Direct investment property in Botswana produced total returns of 17.9% last year, beating returns on South African fixed investment property, which delivered a 15.2% total return last year. Economic experts and business executives in Zimbabwe are expecting a further slowdown in economic activity in Zimbabwe after weekend election results…
Africa Brief: Egypt buys less local wheat than last year, Mugabe expected to stay on, mobile data and more
Egypt has bought 3.675 million tons of wheat from local farmers so far this season and will continue to buy from them until 30 July 2013; the state news agency yesterday quoted the country’s main state wheat buyer as saying. “The total amount of local wheat supplied till now is 3.675 tons, 41000 tons less than the same period last year,” state news agency Mena quoted Mamdouh Abdel Fattah, the vice-chairperson of the General Authority for Supply Commodities, as saying.