KAREN AND KASARANI SUBURBS RECORD THE HIGHEST ANNUALIZED CAPITAL APPRECIATION

Cytonn Real Estate, the development affiliate of Cytonn Investments, has released their Nairobi Metropolitan Area Land (NMA) Report 2020. The report highlights the land sector’s performance based on annual capital appreciation, market trends and the investment opportunity. According to the report, the land sector within the NMA recorded an 8-year CAGR of 13.5% and an annual capital appreciation of 1.5% in 2019/20, compared to the (0.3%) recorded in 2018/19, attributed to increased demand for land mainly in the low rise residential areas and satellite towns. During the period under review, transactions in the…

CIPLA GETS READY TO BRING COVID-19 TREATMENT TO KENYA

Cipla through a landmark agreement with Gilead Sciences Inc.[1], was granted a license to manufacture and distribute the antiviral medicine, remdesivir, in 127 countries, including Kenya[2]. As many of these emerging markets face obstacles in accessing healthcare, Cipla will expand supply to several Sub-Saharan African countries including KENYA. The Emergency Use Authorization (EUA) for remdesivir was first issued by the United States Food and Drug Administration (FDA) on 1 May 2020[3], mainly based upon a study funded by the National Institute of Allergy and Infectious Diseases (NIAID) in the USA. This…

KNUN RIFTS WIDENS AS FACTION WANTS SG PANYAKO OUT

By Mourice Seretta A section of the Kenya National Union of Nurses, KNUN, branch officials now want the Union’s National Secretary General Seth Panyako out of office. The officials led by Elegeyo Marakwet Branch Secretary General Biwott say Panyako tenure as the head of the union has been met with gross violations of its members at the same time accusing Panyako of maladministration of the union. They want him to urgently call for a meeting to make changes at the Unions top leadership positions. ‘Panyako has severally been cited for…

Millie Odhiambo and David Sankok Best Performing MPS

By Mourice Seretta The Annual Parliamentary Scorecard for the 3rd Session of the 12th Parliament has been released by Mzalendo Trust, a Parliamentary Monitoring Organization (PMO). According to the report, the legislative output of Parliament was low compared to other sessions while the number of Members of Parliament (MPs) who made no contributions was on the rise, with a record number of 21 making no contribution in 2019. The organization has further raised concerns about MPs who have consistently failed to make contribution at the plenary.  These include Hon. Oscar…

Rental yields drop marginally as tough economic times bite

Cytonn Real Estate, the development affiliate of Cytonn Investments, has released its H1’2020 Markets Review. The report highlights the current state of the real estate sector in terms of uptake, rental yields, capital appreciation, and hence, total investor returns. According to the report, average rental yields softened across all sectors coming in at 7.4%, 7.3% and 5.1%, for retail, office and residential sectors, respectively, from 7.7%, 7.8% and 5.2% in Q1’2020.The land sector recorded an overall annualized capital appreciation of 1.4%, with asking land prices in low rise residential areas…

SCHOOLS TO RE-OPEN IN JANUARY, NO NATIONAL EXAMS THIS YEAR, MAGOHA

By Maurice Serreta Education Cabinet Secretary Professor George Magoha has said that all basic institutions will be re-opened in January 2021 based on the assumption that the infection curve will have flattened. Addressing the media shortly after holding a consultative meeting with education stakeholders at the Kenya Institute of Curriculum Development, KICD, in Nairobi, Magoha also says this year’s candidates who were preparing to sit for their Kenya Certificate of Primary Education, KCPE and Kenya Certificate of Secondary Education Examinations, KCSE, will not sit for the same this year but…

UBER EATS AND UNESCO COME TOGETHER TO SUPPORT VULNERABLE FAMILIES IN KENYA

By Mourice Serreta As families lose income and work opportunities continue to decline due to the global pandemic, the daily food needs of communities has become a real threat. Uber is honoured to join the United Nations Educational, Scientific and Cultural Organization (UNESCO) Global Education Coalition to run a range of initiatives ensuring that learning never stops. The first global initiative Uber is launching under the coalition’s umbrella is in Kenya, where Uber Eats is partnering with Team Pankaj to help feed vulnerable Kenyan families with young children, impacted most…

Relief at last as PRESIDENT KENYATTA LIFTS LOCKDOWNS

By Mourice Serreta President Uhuru Kenyatta has lifted the secession of movement into and out of the Nairobi metropolitan area, Mombasa county and Mandera county saying it shall lapse today or at 4 AM tomorrow Tuesday the 7th of July 2020. Addressing the nation today from his Harambee House Office in Nairobi, President Kenyatta has however extended the nationwide curfew that is currently in force betwee the hours of 9PM and 4AM for a further 30days. ‘By reopening Nairobi, Mombasa, and Mandera, we must be aware that we will all…

KCB Customers to Access Cash Simba Points

KCB Bank Customers will now be able to redeem cash for their Simba Points after the bank honored customers’ requests to redeem their points for cash. The cash redemption became popular after the spread of the pandemic with redemption of cash increasing exponentially. Over 8.1million Simba Points have been redeemed for cash which was used to purchase food and household items. The redemptions between March and May were seven times those in January and February, reflecting the increased demand as Kenyans sought relief from the effects of the Covid-19 pandemic.…