Author: David Indeje

The logistics industry in Kenya will continue to expand exponentially from ‘godowns’, to higher quality A- and B-grade warehouses according to Broll Property Intel and Knight Frank reports. Developments in the manufacturing industry, transport and storage, wholesale and retail, and establishment of Special Economic Zones (SEZs) will drive demand for logistics services. “The Kenyan logistics sector is directly impacted by the performance of all sectors of the economy and in particular the industrial sector, which includes the import and export of goods (warehousing),” said Vivian Ombwayo, Broll Kenya’s Head of Research and Valuations, during the launch of the Kenya Logistics…

Kenya’s business community has realized savings estimated at KShs. 2.5 billion when the implementation of the National Electronic Single Window System (Kenya TradeNet) begun in 2016. According to Kenya TradeNet CEO Amos Wang’ora 11,400 users are registered in the National Single window, 36 of them being government agencies. “The System has simplified trade procedures and processes, resulting to reduced delays, improved convenience, substantial cost savings, and improved collaboration,” he said during the signing of a KSh150 million partnership with TradeMark East Africa (TMEA). So far, more than 1,707,642 permits have been processed through the TradeNet System since it went live.…

The economic outlook in Kenya has been lowered by 5.7% in 2019, a slight decrease from the estimated 5.8% growth experienced in 2018 by the World Bank. “The medium-term growth outlook is stable but recent threats of drought could drag down growth,” the World Bank said on Tuesday while releasing its 19th Kenya Economic Update (KEU), Unbundling the Slack in Private Investment. “Risks include drought conditions that could curtail agricultural output, especially if the country’s grain-growing counties are affected.” Stephanie W. Kimani, Research Economist, Commercial Bank of Africa collaborates this, “growth forecasts for Kenya have remained bullish with the central…

The Government plans in unveiling a credit guarantee scheme for small and medium enterprises (SMEs) in order to boost economic growth, Kenyan President Uhuru Kenyatta said on Thursday. Kenyatta said the scheme will address the challenges of access to credit, training and skills development. “In this regard, we will be launching an “SME Credit Guarantee Scheme” in few weeks, aimed at deepening their access to credit without being subjected to complex application procedures and collateral requirements,” said the President when he delivered a state of the nation address at a joint sitting of both Houses. He said his administration recognises the…

The Kenyan Government has said every individual must pay taxes in accordance with their wealth. This is the latest move targeting High Net Worth Individuals (HNWIs) in Kenya. “High net worth persons whose lifestyles are not reflective of the taxes that they pay must be compelled to demonstrate the source of their wealth and to contribute their share of taxes accordingly,” President Uhuru Kenyatta said on Thursday. The President said besides having taken measures to broaden the tax base, the country’s tax base was significantly low, “As a consequence, we have in the recent past taken steps to widen the…

Artcaffé Group, a lifestyle and a social hub restaurant, plans to boost its presence in Kenya as it looks to expand with more outlets in 2019. The only restaurant chain to be awarded the prestigious Superbrand status in East Africa says their focus on high international standards is expected to impact positively on the economy. Sagi Vaknin, Managing Director at Artcaffé said: “We will significantly increase the number of locations in 2019, growing our position as a large employer, taxpayer, and driver of local supply chain growth with the support of Emerging Capital Partners.” READ: Carrefour Kenya Named 2019 Bread…