Business Daily Africa

Rental prices for prime warehouses in Nairobi have stagnated at Sh776.20 ($6) per square meter, driven by slow industrial growth and high production costs, according to Knight Frank. https://lnkd.in/dRb6iQkt

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Entrepreneurs, it is said, dream of selling a toothbrush to every Chinaman. My subject today, John Burns, the co-founder of HQ Kenya House and managing partner, The Burns Brothers, a US-based company, is no exception. A capitalist at heart, he says, “As much as I am for impact, we must make money." With a portfolio of establishments under their holding company (Burns Brothers), John is now betting on Kenya. Last week, he opened HQ Kenya House, a private membership club located at Tatu City, a mixed-use development in Kiambu County. At a fee of Sh206,500 annually (with a Sh650,000 initiation fee), the club, he says, leans toward the social aspect, because there are many business clubs. Read the full story here https://lnkd.in/dqkD3Fca

For the years that Arnold Munene has worked at Kenya Union of Savings & Credit Co-operatives (Kuscco), nothing in his wildest dreams had prepared him for the managing director role this soon—let alone taking over an entity that has been battered by a multi-billion shillings heist. https://lnkd.in/dpbf9-iv

The chief executive officers of commercial banks have stepped up the push for the review of the loan pricing framework, calling for the creation of a single industry benchmark to cut loan costs as borrowers fail to feel the relief of falling domestic rates. https://lnkd.in/dvVBwXvN

This week's Business Snapshot covers key trends and developments shaping Kenya's economy. We explore a bank’s due diligence failure leading to fraud, Centum’s ambitious Vipingo SEZ project, and RBA’s pension reforms. Timothy Owase’s leadership journey and personal finance struggles also feature, alongside NTSA’s crackdown on Super Metro and Kenya’s shift from IMF dependency. Stay informed on the latest business insights! #BusinessSnapshot #Finance #Investments #Leadership #EconomicTrends

Yes. And it has been done. The possibility – and the problem – are best understood if you look at it the other way around. Would it be possible to make an aircraft that could drive around on the ground? https://lnkd.in/duS9kFnF

My name is Frank. I am 27. I currently earn Sh83,000 after statutory deductions and have bank savings of Sh4,250,000 and Sacco savings of Sh96,000. My expenses are as follows: Rent Sh15,000 (including power and water), food and groceries Sh16,000, internet and airtime Sh5,000, DStv Premium Sh11,000, mom and dad Sh10,000, personal and miscellaneous Sh10,000, girlfriend Sh10,000 and savings Sh5,000. I am not very good at saving but have managed to save up from lumpsum bonuses at work. I have three goals, and I am wondering if I should take out a loan to achieve them faster—by the end of this year or at the latest, mid-next year. These goals are as follows: 1). To renovate my parents’ house. Their house is currently a two-bedroom mabati house. My aim is to set a stone block foundation with three courses on slab, then finish up three bedrooms and one living area with wood. I estimate the cost to be between Sh1 million and Sh1.5 million. 2). Build my own one-bedroom ‘simba’ structure on the same land where I can stay when I am not in Nairobi. I estimate the cost to be around Sh800,000. 3). Buy a mildly used local second-hand Toyota Axio at an estimated cost of between Sh750,000 and Sh850,000. Expert response: Robert Ochieng’, the founder and investment advisor at Abojani Investments. https://lnkd.in/dimECqrD

My name is Pauline. I am 38, married, and have two children. We live in Nairobi. My husband and I both have full-time, permanent, and pensionable jobs, earning a combined Sh190,000 after statutory deductions. Our monthly expenses are as follows: Rent Sh30,000, electricity and water Sh3,000, transport Sh8,000, house help Sh10,000, shopping Sh25,000, support for parents (black tax) Sh15,000, upkeep for orphaned niece in college Sh10,000, school fees (termly) Sh24,000, cooking gas Sh5,000, children’s Sunday outings Sh5,000. We are overwhelmed by debt, some of which we can’t even account for. Our outstanding debts include: unpaid insurance premiums Sh45,000, chama loan Sh130,000, mobile loans Sh67,000, Helb loan Sh137,000 (Sh6,000 monthly deduction), Sacco loan Sh40,000 (Sh40,000 monthly deduction), bank loan: Sh24,000 (Sh24,000 monthly deduction). We have been repaying the Sacco and bank loans for 18 months, with 30 months remaining. The loans were used partly to start a business—which failed—and partly to purchase a 40x80 plot in Ruiru, where we hope to build a home. Please help us regain financial stability, clear our debts, and start our homeownership journey. Expert response: Gertrude Njeri is an accountant, personal finance and investment consultant. She works as a community manager for an investment company based in Nairobi. https://lnkd.in/dadX-EXU

Due to unpaid debts, the High Court ordered Matunda Bus Services to surrender 10 buses to Scania Credit Solutions. Despite operating the vehicles and generating income, the company defaulted on its 2016 financial lease. https://lnkd.in/dA4c5XDn