Business highlights – Tatu City puts up an additional 100 quarter-acre plots for sale amid growing demand

Business highlights – Tatu City puts up an additional 100 quarter-acre plots for sale amid growing demand

Kenya touted as third most-preferred destination for super rich travellers

  • Kenya emerged as the third most preferred travel destination by High Net-Worth Individuals (NHWI) in Africa last year
  • The country managed to beat world famous destinations such as Mauritius and Seychelles
  • An analysis titled the Afrasia New World Wealth report released on Monday indicates that Kenya hosted 4,000 multi-millionaires last year while Morocco accommodated 5,000 and South Africa 15,000

According to the report, which saw Botswana tied with Kenya in the third position, multi-millionaires are individuals with net assets of Ksh1 billion.

Maasai Mara and Nairobi remained the most preferred spots for the super-rich going on holiday, the survey said due to the safari experiences that both places have on offer. Cottar’s 1920s Safari Camp in Maasai Mara was the most popular safari lodge for the HNWI visiting Kenya and fifth in Africa. Other top safari lodges on the continent were Ngorongoro Crater Lodge in Tanzania, Ngala Tented Camp and Savanna both in South Africa and Royal Livingstone in Zambia.

READ ALSO: Rich Kenyans prefer to invest in property over personal businesses

Wildlife safaris was the most popular hobby for HNWIs in Africa last year, followed by golf, cycling, art collecting, horse riding, tennis, skiing (overseas), collecting cars, fly-fishing and collecting watches.

Equity eyes more revenue with DStv deal for Equitel clients

  • Equity Group has inked a deal with MultiChoice, enabling Equitel customers to pay for their DStv monthly subscription via the platform
  • The move is part of a bid to grow revenue streams for the lender’s telecommunication unit, Equitel
  • The drive comes at a time when Equitel is aggressively expanding its eazzyPay payment platform that allows users to pay for their bills at minimal cost

Under the partnership agreement, DStv subscribers can either pay through their Equitel mobile number or their Eazzy banking App from any mobile network, the company said in a statement. Equitel clients can also can pay for their GOtv subscription.

Equitel, operated under Finserve Africa, platform has also added JamboJet and eCitizen onto the platform.

The latest data from the Communications Authority of Kenya show that Equitel processed transactions worth Ksh251.6 billion in the second quarter of the 2016-17 fiscal year. This was a 15% increase from Ksh219.6 billion that was transacted in the quarter before.

READ ALSO: Borrowers received Sh38.5 million in credit from Equitel’s Eazzy platform as value of loans disbursed increases by 618% in 2016

Overall, Equitel increased its market share in the value of mobile money transactions to 22% up from 20% from the previous quarter.

Demand for land prompts Tatu City to put up an additional 100 quarter-acre plots for sale

  • Tatu City has put an additional 100 quarter-acre plots on sale following increased uptake at its residential project Kijani Ridge
  • Kenya country head for Rendeavour, Tatu City’s majority owner and developer, Nick Langford said the tremendous increase in uptake is as a result of a better realisation and appreciation of the Tatu City concept
  • Kijani Ridge will offer amenities including a club house and restaurant, a school, a mini shopping centre, a jogging track, a dam and natural green open space

The mixed-use development began construction of the first phase of Kijani Ridge in July 2015 following several delays resulting from legal and ownership disputes. The development project which sits on 2,500 acres comprises residential, commercial, industrial, tourism, social and recreation amenities for more than 100,000 residents and hundreds of businesses.

The developer has welcomed the government’s move to offer incentives to industries operating in Special Economic Zones, saying that the initiative will help to spur growth, and drive Foreign Direct Investment in Kenya’s built infrastructure.

Langford said that the decision will encourage more firms to set up in the region and help in the successful operation of Industrial Parks that have been established in mixed-use development projects such as Tatu City.

READ ALSO: Groundbreaking for Tatu City middle income homes now set for 2017

Tatu City is currently setting up a 457 acre industrial park with industries such as Unilever, Chandaria Industries, Dormans and Kim-Fay having signed up to expand or relocate their businesses.

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