Our cycles tend to start after a general election and end with the next general elections. For a better review of the property market in Kenya, we will look at each segment of the real estate market taking into consideration the drivers. In terms of income, there is a clear segmentation of high, middle and low income. Kenya is a diverse country from the long coast line having prime beach properties, to the highlands dotted with large and small scale farms and arid and semi-arid lands to the north with hidden reserves in the forms of mineral and oil resources.
In this exclusive interview with Addis Standard in connection with the 20th year anniversary of the birth of COMESA, Ngwenya describes the journey so far, the challenges and opportunities.
In these two decades COMESA has made a giant leap in strengthening and deepening regional integration through institutions that existed when it was established and the creation of new ones as well as robust policy reforms. The interesting feature of this trade is that it comprises of value added manufactured products.
The region has also witnessed increased cross border investments in manufacturing, infrastructure and services. The period has also seen COMESA launching new trade facilitation instruments that are creating a borderless economy resulting in drastic reduction in the cost of doing business.
The latter brings buyers and sellers in a virtual market in real time. I would say confidently that all COMESA Institutions are doing very well within their specific areas of expertise and contributing in a big way to social and economic development.
The financial institutions, for example provide financing to the public and private sector. Most of them have credit ratings from International Credit Rating Agencies and are thus able to raise funds from the international capital markets.
Cumulatively, the PTA Bank has lent billions to the private sector in the form of trade and project financing. What was the outcome of this system so far?
The system provides real time information on the location of goods and means of transport and integrates all customs and trade related documentation under a single sign-on. It also allows customs authorities to pre-clear cargo and the freight forwarders and transport operators to efficiently manage the logistic supply chain thus reducing the cost of doing business and enhancing competitiveness.
Currently over Insurance Companies are involved in its operations and annually overinter-state motorists use the Yellow Card.
In Short the implementation of the Yellow Card Scheme has indeed exceeded our expectations. But many people question whether that was not a bold move given the fact that the well-established regional blocs such as SADC will have a huge advantage over the others.
Can you please tell us the advantages and disadvantages if any in this? There are a number of advantages that will come with the launch of the TFTA. Firstly, it will address one of the major challenges facing regional integration in Africa, and that is overlapping membership.
A number of African countries belong to more than one regional economic community, which poses a hindrance to deeper economic integration. The rate is set to grow to 23 percent in years after the launch.
It will result in increased employment, government revenue and savings on foreign exchange. The TFTA is not only focusing on market integration, but it is also anchored on two other critical pillars: The infrastructure development pillar addresses regional infrastructure gaps in roads, ports, rail, communication, energy, air transport, among others.
Industrial development will deal with the supply side constraints faced by many African countries. This pillar will focus on the development of value chains within the tripartite region.Kenya’s GDP growth is projected to decelerate to %, a percentage point mark down from the forecast, according to the World Bank’s Kenya Economic Update (KEU) released in Nairobi today.
The Associated Press delivers in-depth coverage on today's Big Story including top stories, international, politics, lifestyle, business, entertainment, and more. Overview. Africa’s hotel sector has the potential for further growth over the next five years. An increase in the number of foreign and domestic travellers, as well as expansion in a number of hotel chains on the continent reinforces the hotel sector’s untapped potential for business growth.
Publications of Volume 7. VOLUME 7(1) 1. An Insight into Green Practices followed in the Indian Hotel industry - Sharma, R. (VIPS, IP University, India), Yadav, D. (Chandigarh College of Hospitality, CGC, India) & Sharma, M. (VIPS, IP University).
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Real Estate Sector in Kenya: A Review of and Forecast for