Author: Muindi

Westlands – Parklands was the best performing node, recording an average rental yield of 6.1%, according to the Nairobi Metropolitan Serviced Apartments 2020 report released by Cytonn Real Estate. The performance has been attributed to the proximity to business nodes such as Kilimani, Nairobi Central Business District, and Upper Hill. In addition, the availability of amenities such as the Westgate Mall and Sarit Centre, ease of accessibility and proximity to the main airports that is Jomo Kenyatta International Airport (JKIA) and Wilson Airport. Kilimani was the second-best performing node with average rental yields of 4.8% compared to the market average…

Kenyan Premier League Champions Gor Mahia advanced to the second preliminary round of the Confederation of African Football champions league. Gor Mahia defeated the APR of Rwanda 3-1 and 4-3 on aggregate in a first preliminary round, second leg match played Saturday at Nyayo National Stadium, Nairobi. The goals were scored by Samuel Onyango, Sydney Ochieng and Nicholas Kipkirui. The Kenyan team will face the winner between Algerian side CR Belouizdad and Libya’s Al Nasr who play Sunday in the second leg clash.  CR Belouizdad has a 2-0 first-leg lead. The first leg of the second round of the preliminary…

Kenya’s Capital Markets Authority has granted approval to Centum Real estate to issue secured zero-coupon and secured zero-coupon equity-linked Medium Notes of Ksh 4 billion with a greenshoe option of Ksh 2 billion.  According to CMA, the restricted issue targets sophisticated investors who are sufficiently versed with the risks associated with the notes, in line with Section 30(b) of the Capital Markets Act. The notes have a tenor of three years.  Proceeds from the issue will be used to fund real estate development by Centum Re, a subsidiary of Centum Investment Company Limited.  The senior secured zero-coupon notes will attract…

Carrefour, which is operated by Majid Al Futtaim in Kenya, has expanded its footprint by opening a ninth outlet at the City Mall in Nyali, Mombasa City. The new store is the first of three currently planned to be opened in the coastal region. The Nayli store covers over 2,000 square meters of selling area, the new supermarket will be home to a variety of quality products to address the immediate shopping needs of customers who live, work and vacation within Mombasa and its surrounding areas. The Nyali store offers more than 20,000 products alongside a home-made bakery section, a…

Family Bank has opened its 91st branch expanding its footprint at Wanginge market in Kiambu County to serve the ever-growing micro, small and medium-sized customer base. With this expansion, the bank now has a network of 13 branches in Kiambu County and an addition to those located in 37 counties across the country. “We are also happy to note that Family Bank is among one of the two banks that the Government will work with for the SME Fund, a vote of confidence in the Bank’s efforts towards supporting micro, small and medium-sized businesses,” said Family Bank CEO Rebecca Mbithi.…

Kenya Airways on Monday resumed its non-stop flight service to New York from Jomo Kenyatta International Airport in Nairobi. The weekly non-stop flight resumed on Sunday 29th November 2020 offering customers who book tickets before 10th December 2020 discounts.  https://twitter.com/ms_koki/status/1333389075433345024?s=20 Allan Kilavuka CEO of Kenya Airways says the New York-Nairobi route is key toward rebuilding and reconnecting Its global network as they see great signs of optimism in the recovery of air travel since we resumed flights in July.  “This optimism is also driven by the easing of restrictions for both transit and inbound passengers in Kenya as well as…