Afternoon business highlights – October 10 2017

Afternoon business highlights – October 10 2017

Oversupply of retail space giving investors poor rental yields

An oversupply of retail space is giving investors poor rental yields, a new report by real estate experts, Cytonn Investments has revealed. In its annual real estate sector report, the investment company says there has been an increase in the supply of retail space, with Nairobi alone recording a 41.6% jump in supply due to the opening of malls like Two Rivers and Rosslyn Riviera on Limuru road and Next Gen Mall on Mombasa Road. The data shows that developers are not making informed decisions, which is why the country is seeing an oversupply in retail space. This has ultimately led to lower occupancy rates and even worse lower rental yields from the market segment.

Farmers face higher livestock feed prices following hike in cost of raw materials

Farmers will soon be forced to contend with higher animal feed prices  in the coming months, the Association of Kenya Feeds Manufacturers (AKEFEMA) has warned. This is due in part to rising prices of key raw materials such as wheat bran and sunflower cake. The price of a kilo of wheat bran has jumped to Ksh19 from Ksh15 a month ago. Meanwhile, the cost of sunflower cake has reached Ksh23, up from Ksh20.

Airtel now offers 1GB data for Ksh99

Airtel Kenya has launched a new range of exciting data bundles dubbed “New Amazing Bundles” in a bid to offer best value products to its customers in the era of growing demand for data services. This new offering is targeting all range of smartphone users who are constantly looking for affordable data bundles as way of ensuring they stay connected to the internet at all times. The winning propositions under these new bundles are the 1GB bundle daily offer going for Ksh99, 2GB weekly bundle that costs Ksh249 and 1GB monthly bundle for Ksh300. Recent statistics by the industry regulator, Communications Authority of Kenya, indicate that there has been increased growth in mobile subscription and penetration which stand at 40.2 million and 86.2% respectively. This positive trajectory has also seen an increase in data subscriptions and access to the internet.

 

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