Ksh3.3 million up for grab for creative Engineers

Kenyan engineers, across all disciplines, have a chance of winning Ksh3.3 million (£25,000) following the opening of the Africa Prize for Engineering Innovation. The competition, an initiative of the Royal Academy of Engineering, is open to engineers who provide scalable entrepreneurial solutions for local problems. Applications will close on June 23 2018 and the winners will be announced in June 2019 and the Kenyan engineering fraternity will have another chance of producing a winner in the Africa-wide competition. 24-year-old Ugandan software engineer Brian Gitta won the 2018 Africa Prize for…

Kilimani, Westlands and Thindigua ranked as the best areas for apartment development.

Cytonn Real Estate, the development affiliate of Cytonn Investments, today released its Nairobi Metropolitan Area Residential Report – 2017/2018, ranking Kilimani, Westlands and Thindigua as the best areas for apartment development; and Karen, Runda Mumwe and Ruiru as the best areas for detached units’ development. The report analyzes the current state of the residential real estate sector in Kenya in terms of supply, demand, drivers, challenges, and performance. According to the report, the sector recorded total returns of 8.2% p.a compared to last year’s 9.4%, attributable to the protracted electioneering…

CYTONN MAINTAINS A POSITIVE OUTLOOK FOR THE MACROECONOMIC ENVIRONMENT

  “FOLLOWING A REVIEW OF THE FIRST HALF OF 2018, CYTONN MAINTAINS A POSITIVE OUTLOOK FOR THE MACROECONOMIC ENVIRONMENT IN KENYA, WITH BETTER GDP GROWTH PROSPECTS, SUPPORTED BY IMPROVED WEATHER CONDITIONS AND A CONDUCIVE OPERATING ENVIRONMENT”  Following a review of H1’2018, we maintain a positive outlook for the macro economic environment in Kenya, with better GDP prospects relative to 2017, supported by improved weather conditions and a conducive operating environment.   The Kenyan economy is projected to grow by 5.5% on average in 2018, according to GDP projections from 15…

Enhanced Infrastructure Helps Build Safer Communities in Nairobi’s

Kayole-Soweto, an informal settlement on the eastern periphery of Nairobi, is home to approximately 90,000 residents. And during a recent discussion I had with the Settlement Executive Committee (SEC) there, a female representative told me about her community and home: “This place has changed so much that we need a new name! Our community is improving because our houses have more value, we feel safer and businesses are growing.” This is largely thanks to the Kenya Informal Settlement Improvement Project (KISIP), which provides basic infrastructure such as tarmac roads, water…

Cytonn secures Ksh. 2.1 B more from Taaleri

Cytonn Investments has secured an additional Ksh. 2.1 billion in funding from their institutional partners, Taaleri of Finland, increasing their asset to Ksh. 5 billion. The treasuries is expected to be directed towards development projects such as the The Ridge, a Ksh 12.0 billion mixed use development construction located in Ridgeways, Nairobi County. This is one of the mega series of constructions underway by Cytonn Investments Management Plc, an independent investment management firm.  Speaking at the signing of the additional funding, Shiv Arora, Head of Real Estate Private Equity at…