Ruaka, a rapidly growing satellite town of Nairobi, has seen its land values surge, surpassing prime suburban areas like Karen, Runda, Ridgeways, Kitisuru, and Langata. According to Hass Consult’s Q3 Land Price Index, an acre of land in Ruaka now averages Sh110 million, significantly higher than other satellite towns and even Kitisuru, where an acre costs Sh99.7 million. Nairobi’s Most Expensive Land Upperhill: Remains the most expensive area, with an average land price of Sh506 million per acre. Westlands: Follows closely at Sh479.6 million per acre. Driving Factors Behind Rising Land Prices Increased Demand for Development: The demand for apartments…
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
New data from the Central Bank of Kenya (CBK) reveals a significant increase in personal loans and digital lending. Over half of these borrowers use the funds for daily expenses rather than investments or long-term projects. Economic Pressures and Rising Debt The rising cost of living, fueled by inflation, has eroded the purchasing power of many Kenyans. Needs like food, fuel, and housing have become increasingly expensive, particularly for low-income households. Economic challenges, including the aftermath of the COVID-19 pandemic, global commodity price increases, and adverse weather conditions, have further exacerbated the situation. Even middle-income earners are struggling to make…
Capital A Investment Bank, formerly known as Securities Africa Kenya Limited, unveiled a new brand identity, marking a significant milestone in its journey. This rebranding follows the firm’s recent upgrade from a licensed stockbroker to an investment bank by the Capital Markets Authority (CMA). The new brand reflects Capital A’s expanded capabilities and unwavering commitment to providing exceptional investment solutions and fostering financial consciousness. As a regulated entity under the CMA and an authorized trading participant at the Nairobi Securities Exchange (NSE), Capital A has consistently demonstrated its expertise in the financial services industry. Capital A has solidified its position as…
Jumia, the e-commerce giant, exits South Africa (Zando) and Tunisia to focus on core markets, citing low growth and competition. Jumia will concentrate on its core, high-growth markets in Kenya, Egypt, Morocco, and Nigeria to achieve pre-2019 profitability. The closure will result in job losses (around 110) in both countries. Jumia will attempt to relocate some employees. “After a thorough analysis, we made the difficult decision to close down our operations in South Africa and Tunisia. Both businesses account for negligible portions of our overall operations,” said Francis Dufay, Jumia CEO. “Decisions like these are never easy and we are extremely grateful…
VisionPlus Kenya, a leading home appliance and consumer electronics manufacturer, has announced plans to establish the country’s first-ever local plant for smart televisions and audio entertainment systems. The investment of Kshs 125 million is part of the company’s strategy to expand its product range and shift from importing to manufacturing locally designed appliances. Targeting underserved and emerging populations, VisionPlus aims to cater to the growing demand for quality, stylish, and convenient home appliances. Managing Director Umesh Bhojwani highlighted the significant growth potential in the Kenyan home appliance market, driven by population growth, urbanization, and changing lifestyles. “We want to serve…
President William Ruto witnessed the signing of a gazette notice that will raise the minimum wage by 6% for employees across various sectors in Kenya. The new rates will take effect on November 1, 2024, benefiting thousands of workers. The decision follows months of negotiations involving the government, trade unions, and employers. The government established the National Wages Council to oversee the wage increase process and ensure a structured approach. Under the new wage schedule, unskilled employees will earn a minimum of Sh7,997 per month, while skilled and semi-skilled workers will see significant increases. House servants and cooks will now…