Equally noticeable too is how some of the country’s homegrown establishments have engaged the top gear in their quest to match the global stars. At the junction of Southern Bypass and Mombasa Road is a new 10-floor edifice with a blue façade by the name Emara. Emara, Maasai for a giraffe is Sh2 billion hotel to complement the adjacent Ole Sereni Hotel.
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JSE-listed real estate investment trusts are starting to hold some earnings back to manage operating costs in a weak market. Two prominent fund managers are urging property companies to lower their dividend payout ratios to fall in line with international practice, saying they should hold back income to pay increasing operating costs and reduce debt in a torrid economic environment.
The Nigerian Stock Exchange, in collaboration with Chapel Hill Denham, organized a training on alternative investments titled “Listed Real Assets: A Teach-In on Alternative Investments” on Wednesday, July 3, 2019.
The training covered core concepts of alternative investments, as well as applicable techniques for valuation, trading and investments in the asset class to help participants understand the use and benefits of alternative investments in their portfolio diversification strategies. Philip Southwell, a leading expert in alternative investments, Partner in Chapel Hill Denham and co-founder of the Nigeria Infrastructure Debt Fund and Nigeria Real Estate Investment Trust in Nigeria facilitated the 2-hour session, engaging participants to provide a working knowledge of alternative investments.
ECOWAS, the regional bloc of countries in West Africa, has just revived an old dream: adopting a single currency across member states. After first broaching the idea at the turn of the millennium, the target launch date for the single currency has been postponed several times after initially being slated for 2003. The latest date to be agreed for the launch of the currency is 2020, with member states also agreeing to name it”ECO.”
Nigerian President Muhammadu Buhari will sign a landmark deal to scrap trade tariffs among African countries at an upcoming summit of the continent’s leaders, his office said. Africa’s most populous country has been one of only three African states to hold back on inking the accord, after local manufacturers said they would be badly hit by liberalisation.
The Federal Government of Nigeria announced on Tuesday that it will finally become a signatory to the African Continental Free Trade Agreement (AfCFTA) after one year of delay. This development comes after the President Buhari-led Government initially expressed an unwillingness to sign the agreement, given some factors which major stakeholders like Aliko Dangote, Abdul Samad, and the Manufacturers Association of Nigeria worried could backfire against the country.
PwC Nigeria estimates the dead capital in Nigeria’s high-value real estate sector at somewhere between $230 to $750 billion and between $60 to $170 billion in the middle market. Lanre Fatimilehin, Director at Trillium Real Estate Partners joins CNBC Africa to share his perspective on this story.
Zambia and Zimbabwe will start building the 2,400 MW Batoka Gorge hydro power plant next year, a company jointly owned by the two governments said on Tuesday. The Batoka project involves construction of a dam, powerhouses, roads, transmission infrastructure and houses in both Zambia and Zimbabwe, the Zambezi River Authority (ZRA) said in a statement.
With a recent survey done in Kigali citing that 15 per cent of commercial building space remains empty, today we will look at why that is, the benefits and risks of building at this time and where the housing market stands. Stephen Milindi, CEO, Misteph Investment Group joins CNBC Africa for more.
South Africa’s largest retail-focused real estate investment trust (Reit) Hyprop may have to wait at least a year before it regains its Moody’s investment grade rating as it looks to reduce its debt with the sale of its ‘rest of Africa’ properties.