Chigwell Holdings Ltd, a property development firm synonymous for providing quality, contemporary townhouses, maisonettes and properties for sale has acquired 47 out of 120 acres set aside for residential development at Tilisi mega-city. This opens way for the second phase of development after the completion of its logistics industrial park that sits on 85 acres. Chigwell is set to construct more than 300 homes on the former’s industrial-cum-residential 400-acre mixed-use facility in Limuru. An acre of residential land at Tilisi ranges between Ksh27 million to KSh36 million. Read: Tilisi Completes Phase 1 infrastructure for its Logistics Park “Phase II opens a…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
The massive foreign investor outflow from the Nairobi Securities Exchange (NSE) in the last two years now presents a perfect opportunity to invest at the bourse because of the low prices, analysts at investment firm Genghis Capital predict. The analysts, in a report titled ‘Embracing Value’ noted that Kenya is trading at attractive multiples on the back of a massive sell-off in 2018 which saw the NSE 20 share index take a 23.5% beating to close at 2,833 and the Nairobi All Share Index (NASI) decline 16.6%to 86.47 points. “The NSE abounds with value opportunities, including some large-cap foreign investor…
Economic activity in Kenya’s private sector activity slowed slightly in January, partly due to a softer increase in new orders in January according to the Purchasing Managers’ Index™ (PMI™) released on Tuesday. The month recorded a drop in the headline PMI to 53.2, from 53.6 in December, to signal a weaker, but still solid improvement in business conditions at Kenyan private sector firms. “Owing to cyclical factors, private sector activity may soften somewhat over the next couple of months as growth broadly in the agriculture sub-sector eases,” said Jibran Qureishi, regional economist for East Africa at Stanbic Bank. “However, despite…
Key Microfinance Bank PLC, formerly known as Remu has rebranded in its quest to reposition its national outlook and market niche in SME and micro business. Acting chief executive Gregory Siro said with the rebranding, it aims to raise KSh500 million in capital over the next five years to fund expansion from its shareholders who include private equity and fund management firm Fusion Capital that holds a 25 percent stake in the microlender. “The rebrand will not only unlock the bank’s potential but will also enable it reach out to more customers countrywide. The move will also enable the bank…
The Kenya Bureau of Standards (KEBS) has withdrawn the permits of Triclover and Mother nature’s after their peanut butter products were found to exceeded aflatoxin levels. KEBS has further ordered Jetlak Foods Ltd to discontinue the manufacturing or offering for sale of all substandard peanut butter. “Additionally, the manufacturers should recall all the substandard products and institute corrective actions.” In a statement, KEBS said factory inspections undertaken in 2018 revealed that Clovers Peanut Butter and Mother nature’s had aflatoxin levels above the acceptable levels of 15 parts per billion. ‘’Tests undertaken on the samples have confirmed that the level of…
American citizens in Nairobi, Naivasha, Nanyuki, and parts of the coastal city have been urged to remain vigilant, following reports of possible extremist attacks according to the US Embassy. “Credible information indicates Westerners may be targeted by extremists in Nairobi, Naivasha, Nanyuki, and coastal areas of Kenya. The U.S. Embassy reminds the public of the continued need for heightened vigilance throughout Kenya, especially in public spaces such as shopping malls, hotels, and places of worship,” said the Embassy on Monday. The embassy has urged them to always have their travel documents in sight and review their personal security plans. “We…