Kenya to teach Mandarin Chinese in primary school — Quartz Africa. Kenya will teach Mandarin in classrooms in a bid to improve job competitiveness and facilitate better trade and connection with China.
Nairobi ranked sixth wealthiest Africa city. By JAMES KARIUKIMore by this Author Nairobi is East Africa’s wealthiest city and the sixth in Africa after Durban, Cape Town, Cairo, Lagos and Johannesburg, a new report says.
The study by New World Wealth and AfrAsia Bank from Mauritius estimated Nairobi’s privately held wealth at Sh5.4 trillion with its growth driven by financial services, retail, tourism, fast moving consumer goods, telecoms, real estate and construction. Nairobi attracts high Net Worth Individual ((HNWIs) for business and investments while Mombasa is mentioned as home to hospitality and luxury investments along its expansive beaches as well as highly preserved buildings recognised globally as World Heritage Sites. Wealthy billionaires’ injection of funds into local investments has propelled demand for lettable space making Nairobi the most expensive city in East Africa where space goes for an average of Sh190,000 per metre square. Mombasa’s lettable space is charged at Sh170,000. Related Stories. The Blue Economy. Nairobi hosts a third of the fast-growing middle class. Middle class apartments.
The private sector provides 80 per cent of the group. PHOTO | SALATON NJAU. President Kenyatta commissions second phase of SGR project - Daily Nation. By NGARE KARIUKIMore by this Author President Uhuru Kenyatta on Wednesday ignored the raging controversy over the standard gauge railway route through the Nairobi National Park and commissioned the second phase of the project.
The Nairobi-Naivasha section is expected to be the most challenging yet for the Chinese contractor in Kenya as the terrain to be covered is quite mountainous and attached to divergent political and environmental sentiments. The works will begin with the drilling of a five-kilometre tunnel under Ngong Hills beginning at Em-bulbul, near Ngong Town. Addressing Kajiado residents just a few kilometres from the Nairobi National Park, he said the world-famous wildlife sanctuary would not be affected and those criticising the project were being malicious.
Kenya: 5 Key Economic Sectors That Kenya Needs to Turn Around - World Bank. By Ken Macharia Kenya's economy has experienced a mixed bag of fortunes over the last decade, showing resilience in tumultuous years and sluggish growth in anchor sectors like agriculture and manufacturing.
The stellar performer, according to a World Bank report, is the service sector which contributed 72 percent of the increase in Kenya's GDP between 2006 and 2013. The Bank's Country Economic Memorandum (CEM) report singles out the intersection of (a fairly developed) financial sector and mobile communications as an enabler of other services and a facilitator of trade. An enduring entrepreneurial and innovative spirit has seen a rapid growth of formal business startups, creating job opportunities albeit at a lower than the expected rate.
Kenya: Kidero to Launch Night Market to Promote 24hr Economy. By Simon Ndonga Nairobi — A night market targeting young traders that's aimed at promoting a 24 hour economy in Nairobi is set to be launched next week at the Kenyatta International Convention Centre.
The initiative by the Youth Agenda to be launched by Nairobi Governor Evans Kidero will attract more than 300 youthful entrepreneurs and will commence at 4pm and end at midnight. "This is a significant milestone in the growth and development of our economy in the county and the country at large. The initiative is in line with our County Strategic Plan that is geared towards promoting a 24 hour economy so as to improve our socio-economic lives in the county," he said.
The market will be based at the COMESA grounds at KICC and Kaunda Street and City Hall Way where subsequent markets will be accessed at least once a month will also be zoned off. How getting water from an ATM is saving lives (and wallets) in Nairobi. People in a slum called Mathare in Nairobi, Kenya, are now hitting up water ATMs for their water needs.
These machines are controlled in central locations and that charge fees for dispensing water. Now, before you start yelling in outrage, consider this: everybody loves the water ATM. It’s been a blessing for the community. Kenya: Call Centre Services Set Up Earns Kenya a Place in Top 50. By James Kariuki Kenya is the latest entrant in the top 50 countries recognised for call centre services driven by reliable Internet connection and a 7,000-strong labour force.
Global Services Location Index (GSLI) placed the country at position 39, with Tunisia at 38, Senegal (45) and South Africa (48). The report said Kenya, a first time entrant in the ranking, had shown remarkable progress in Information, Communication and Technology development via establishment of reliable optic fibre cables to businesses within its cities as well as sponsored several innovation hubs where software applications are being invented. It said Kenya could do well by training more personnel to drive innovations that could be relied upon to solve various aspects of the day-to-day business activities thereby helping multinational companies reduce costs of employing staff. Kenya was noted for its financial attractiveness (availability of infrastructure), skilled labour and a conducive business climate.
Banking and Financial News,Islamic Business and Finance, Commercial Banking. The report findings underline the strength of the Kenyan economy; as it welcomes growing attention from UAE organisations – following recent initiatives from Dubai Chamber and leading UAE companies such as Dubai Exports to connect business in the UAE and Kenya.
The Report: Kenya 2016, produced by the Oxford Business Group (OBG), reveals that Kenya’s economic outlook for the years ahead looks robust, despite recent challenges such as a trade deficit and rising debt. Following 2014’s GDP rebasing, the country is now East Africa’s largest economy and boasts a prominent profile in the East African Community (EAC). According to official forecasts, Kenya is set to outperform key economic indicators, with GDP growth expected to be around 6.5 - 7 percent in 2015 and to continue at a similar level for the coming years.
This follows on from growth of 5.3 percent in 2014 and 5.7 percent in 2013. Kenya reviewing the 70-30% rule forcing foreign investors into JV with locals - Ecofin Agency. (Ecofin Agency) - Kenya’s government announced on November 13, it would review the rule that forces foreign investors to hold not more than 70% of stakes in a company and partner with locals.
Known as the 70-30% rule, this law was introduced in another related to business establishment (Companies Act). Since it was implemented, many complaints arose from foreign investors and multilateral financial backers who judged that it would slow down foreign investment in the country who seeks to stimulate its economic growth and generate more jobs. Kenyan Millionaire Numbers Seen Rising at Double Global Pace. The number of U.S. -dollar millionaires in Kenya will grow at more than double the global rate over the next decade as the economy expands, according to Africa’s biggest lender.
Individuals with a net worth of more than $1 million will increase 74 percent by 2024, compared with 31 percent globally, Deon de Klerk, global head of wealth and investment management at Standard Bank Group Ltd., said in an interview Thursday in the capital, Nairobi. Kenya currently has about 8,700 millionaires out of 18 million globally, he said. Kenya’s Vision 2030 to fast track at Special economic zones. NAIROBI: After decades of under-performance, the Chinese economy almost stagnated during the 1970s. This occasioned calls for systemic change and pervasive economic reforms, buoyed in part by signals from the top national leadership to institute open door policy.
This was a qualitative shift from the centralised and planned economic policies hitherto adopted by the country. To move its economy towards modernisation and internationalisation, China chose Special Economic Zones (SEZs) which are perhaps the most emblematic of market-oriented economies only helped to underscore that dramatic shift. By 1980, Shenzhen a tiny fishing village in Southern China bordering Hong Kong and with a population of about 300,000 people, was designated as an SEZ to engender economic transformation and attract foreign direct investment.
According to analysts, the zone’s IT and communication sectors contributed a substantial part of the TV sets produced nationally within five to six years of its inception. World Bank - Africa "Kenya" Kenyan passport among the 50 most powerful in the world. The Kenyan passport has been ranked among the 50 most powerful in the world. The rankings released by Financial Advisory firm Arton Capital on their tool passport index are based on how many countries a passport holder can visit without requiring an advance visa or having to purchase one upon arrival to their destination country. The Kenyan passport is tied with those of four other countries which include Jamaica, Cuba, Tonga and Botswana with their passport holders being able to access 68 countries visa free or with a visa-on-arrival. Kenya is listed as having the 6th most powerful passport in Africa behind Seychelles which enables their passport holders to access 116 countries, Mauritius (111), South Africa (84), Guinea (81) and Sierra Leone (69).
Tanzania came in 57th with access to 61 countries while Uganda was ranked 60th with visa free access to 57 countries. US and UK passports topped the worldwide list with their citizens getting access to 147 countries without an advance visa. Kenya begins constructing security wall along Somali border. Nairobi, April 14 The Kenyan government has begun constructing a security wall along its border with Somalia to curb cross-border incursions by Somali Al-Shabaab militants. Director of Immigration Services Gordon Kihalangwa, who officially broke the ground in Mandera late on Monday, urged the locals to support the project which he said would help prevent Al Shabaab militants from crossing into Kenya, Xinhua news agency reported.
Kihalangwa said the wall would run from Mandera in the north to Kiunga in the east coast, covering Mandera, Wajir, Garissa and Lamu counties. He said the purpose of the wall was to demarcate the Kenya-Somalia border besides securing the country from Al Shabaab militants, adding that the government was doing everything possible to sensitise members of the public on the importance of the wall. Kihalangwa said the wall would not bar cross-border movement, adding that there would be designated points for exit and entry into the country. Kenya’s tea exports reach 499 million in 2014. At the end of the 2013/2014 campaign, Kenya produced 444.8 million kilograms of tea, 12.6 million kilograms more than the previous season. The country has managed to export 499 million kg at the end of last season against 494.4 million kilograms a year earlier.
Kenya says new roads, rail links will help spur economic growth to 7% Reuters Last Updated: 02 March 2015|15:05 GMT Kenya's drive to improve rail, roads and power plants will help spur economic growth to 6.9 per cent in 2015. 238 Kenyans on list of those with Swiss bank accounts. What makes Nairobi Africa's 'most intelligent' city. Kenyans rated most generous people in Africa. Kenyans have been rated the most generous people in Africa, according to a study by an international charity group.
The Charities Aid Foundation, according to the World Giving Index 2014 conducted by international research firm Gallup in November, revealed that Kenyans with a score of 49 per cent, also ranks 15th globally in courtesy and generosity terms. Mobile Technology Spurs Water Connections for Nairobi Slum. Meru_rising_conference_report.pdf. Investors seize on opportunities of expanding private universities in Kenya. Kenya: Avic International to Build Africa HQ in Nairobi. By Margaret Wahito Nairobi — Global Chinese manufacturing firm AVIC International Holding Corporation is expected to invest over Sh17.8 billion ($200million) in setting up its Africa Headquarters in Nairobi, Kenya.
Kenya among top ten countries that ensure gender balance observed. Kenyan family businesses thrive – PwC. The most from the coast. Kenya's Economy Jumps by a Quarter to Join Africa's Top 10. KENYA: Kenya dares to be different. Kenya's economy grows by 25% after recalculation. Kenya overtakes Ghana, Tunisia as size of economy climbs by 25% Kenya joins middle income economy status on Tuesday - Pan African Visions. Nairobi motorists go into cashless parking. The most from the coast. Solarcentury to build the largest carport solar system in Africa. Forests for the future: Kenya's carbon credit scheme.
Kenya plans to lower cost of electricity. Consumers in Kenya, Consumer Incomes. M-Pesa available in Australia. Qatar Airways to Accept Ticket Payment Via M-Pesa. Kenya : Kenyan govt fast-tracking special economic zones - Apparel News Kenya. GZ Industries to build a can manufacturing firm at Sultan Hamud. Kenya Aims to be Africa’s Gateway for Manufacturing. Kenya's economy ranked third biggest in Africa. Majority phones sold in Kenya are smartphones. Kenya setting the scene for business in East Africa, says analyst. Kenya still tops in private equity deals. Retailing in Kenya. Kenya earns 543 mln USD in 2013 from export economic zones. Kenya diaspora inflows hit record high in 2013 - Money Markets. Why Kenya's Economy is now Africa's Powerhouse. Philippines firm sets up BPO venture.
The State of Kenya's Private Sector - Recommendations for Government-Development Partners and the Private Sector.pdf. Kenya's business climate on the upswing. Exclusive: Huge water reserve discovered in Kenya. Get smart: Charge your phone while walking in this shoe. Kenya Investment Opportunities, East Africa Foreign Investment Attractions and Opportunities. Kenyan businesses rated second best in Africa. Kenya dusts off plan for new Mombasa–Malaba rail link. Alternative Energy Africa. East Africa: Big gains for Kenya's giants. One Third of Kenyans Now Have a Bitcoin Wallet. Food chains sign to Lipa na M-Pesa service - Business_News. Kenya Allocates Millions For 'One Laptop One Child Programme' Kenyan Economy to Surge 6% – World Bank. Debt management company seeks partner in Kenya. Forbes Africa May 2013 - Behind the scenes with Naushad Merali. Kenya sees 6% economy growth.
Middle class sprawls in Nairobi, Kenya. Ten things Kenya’s new president can do to make the region richer : Special Reports. Invest Africa Episode 4: Kenya.