Even amid a broader downturn in many African markets, Kenya has consistently been one of sub-Saharan Africa’s most reliable performers.
A steep rise in demand for life coverage – traditionally a smaller segment than non-life lines – has been driving growth in Kenya’s insurance sector over the course of 2017.
South African hospitality group City Lodge is set to open a new 172-room hotel in Nairobi next month. Located in the popular diplomatic quarter in the north of the city, and next door to the Two Rivers mall, one of the largest mixed-use developments in the country, the hotel aims to capture both holidaymakers and business tourists.
In July Nairobi-based grocery retailer Naivas Supermarket inaugurated a 3250-sq-metre property in the capital’s Ciata City Mall. The opening of the new store – which occupied a space formerly held by local retailer Uchumi – raises the firm’s total number of supermarkets in Kenya to 41, with seven more due to open before the end of the year.
Government plans to establish Kenya as the “silicon savannah” received a boost with the awarding of a $390m contract to build key infrastructure for Konza Technopolis, a master-planned property development targeting Kenya’s ICT sector.