Battle: Dar es Salaam vs Nairobi

Battle: Dar es Salaam vs Nairobi

Don YF said:
Tourism earnings 2021 Tanzania Ksh.132Billion ($1,32B) , Kenya Kshs.146.5Billion ($1.46B) NB: on dollar flat rate.

Tourism earnings up 65 per cent as State targets Sh172.9 billion​

MONEY & MARKET​

By Graham Kajilwa | January 20th 2022​


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Tourists at Maasai Mara National game reserve in Narok County.[Kipsang Joseph, Standard]
The government expects tourism earnings to rise by Sh26.4 billion this year despite the country’s high season of international visits coinciding with the General Election.
Tourism and Wildlife Cabinet Secretary Najib Balala says he believes the country’s politics has matured enough not to disrupt the cycle of business.
The sector is usually at its peak during the wildebeest migration at the Maasai Mara that starts around July. This year’s polls are due to take place on August 9.
The expectation by the ministry is that 1,027,151 visitors will arrive in the country and passenger flight landings will increase from 59,486 to 70,193 compared to 2021 numbers.
Last year, there were 870,467 international visitors and earnings stood at Sh146.5 billion, according to the latest tourism performance report released on Wednesday.
The ministry projects earnings of Sh172.9 billion this year, a 38 per cent increase compared to 2021.
In 2020, earnings in the sector stood at Sh88.6 billion. The steady rise in earnings to Sh146.5 billion, Mr Balala said, was largely supported by domestic tourism.
According to the report, 1,286,028 citizens visited Kenya Wildlife Service parks compared to 913,052 in 2020. While the number of domestic visits to KWS parks increased by 372,976, those by non-residents increased by 30,796 to 196,474.
Revenue from these visits went up to Sh1.5 billion from Sh1.059 billion in 2020, indicating a slight recovery yet still far from the Sh4.4 billion recorded in 2019.
Bed night occupancy between January and September stood at 4,138,821 compared to 2,575,812 in 2020, a recovery of 60.7 per cent. Room nights also went up 55.3 per cent to 3,084,957 during the same period compared to 1,986,465 in 2020.
“Domestic bed nights grew by 101.3 per cent between 2020 and 2021 while international bed nights grew by 0.05 per cent,” the Tourism Sector Performance 2021 report said. “These bed nights recovery trends are an indication that the hospitality sector has largely been supported by domestic travel in 2021.”
Domestic flights also registered growth as the number increased to 43,949 from 28,356 in 2020.
Balala said the travels have been key in boosting the tourism in towns such as Naivasha and Kisumu.
“We have recovered well but we are not yet there, particularly the domestic market,” he said.
Holiday is still the major reason for visitors to travel into the country (34.44 per cent) followed by visiting friends and family (29.57), with business and meeting, incentives, conferences and exhibitions (Mice) reported at 26.4 per cent.
Other reasons were transit at 5.36 per cent, education (2.19 per cent), medical (one per cent), religion (0.81 per cent) and sports (0.24 per cent).
Balala, however, said while many visitors indicate they are coming to Kenya for holiday, some of them do so for easy entry into the country.
He said for visitors to enter the country for holiday, they just need to book a hotel for visa processing. However, any other purpose of visit needs letters from hosts or invitation if it is conferences.
“Basically, all visitors from African countries are here for business and not holiday,” said Balala said.
On visitors from the continent, Uganda led with 80,000 followed by Tanzania with 74,051 and Somalia’s 26,270.

Tourism on the right track as earnings soar by 53 percent​



THURSDAY JANUARY 06 2022​

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Summary​

  • BoT says the hospitality sector’s receipts hedged close to $1.32 billion in the year that ended on November 30, 2021, up from the $861.8 million recorded in the same period of the previous year
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By Josephine Christopher
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Dar es Salaam. Earnings from the tourism sector improved significantly - rising by 53.7 percent, to $1.32 billion - in the year to November 30, 2021 after being adversely hit by Covid-19.

The steady recovery trend is attributed to the upturn in the global economy and prudent economic policies set to minimise the impacts of the pandemic, which has ravaged economies all over the world.

The Bank of Tanzania (BoT) revealed that the hospitality sector’s receipts rose to $1.32 billion in the year that ended on November 30, 2021, up from the $861.8 million recorded in the same period of the previous year.

The central bank says the performance indicates the gradual recovery of tourism activities facilitated also by the increasing number of international arrivals in the country.

“The increase is proportional with an increase in the number of tourist arrivals, which rose by 31.5 percent to 892, 541,” the central bank said in its Monthly Economic Review (MER) report for December 2021.

President Samia Suluhu Hassan said in her new year speech that Tanzania received 1.4 million international arrivals in 2021 compared with about 600,000 arrivals in the previous year.

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Tanzania also experienced improvement in transport receipts, which rose to $1.45 billion from $1.3 billion in November 2020, while earnings from other services - including construction, insurance, financial, telecommunication, computer and information, charges for the use of intellectual property, government, personal and other business services - also improved.

The two sectors (together with the exportation of traditional goods) continue to be the bedrock of the economy, pushing for total exportation of goods and services to $9.78 billion in the year to November 30, 2021, from $8.61 billion in the same period of 2020.

Gold exports, which accounted for 44.1 percent of total goods exports, remained largely the same - amounting to $2.81 billion - while exports of manufactured goods amounted to $1.19 billion in 2021, from $894.8 million in the previous year.

“Much of the increases was registered in exports of cosmetics, iron and steel, plastic and paper products. There was a noticeable growth in exports of rice, maize and beans to the neighbouring countries, reflecting an increase in regional trade,” the central bank stated.

Moreover, in the year to November 30, 2021, goods and services purchased from the rest of the world by Tanzanians also increased, the BoT said.

The central bank said the increase was observed in all import categories, with a significant rise in oil, industrial raw materials and transport equipment.

“Imports of goods and services increased to $11.25 billion, from $9.26 billion during the similar period in 2020,” the report reads in part.

Oil imports increased by 44.9 percent to $1.93 billion, on account of both price and volume. Services payments increased to $1.57 billion from $1.34 billion in the year to November 2020, much of the increase stemming from freight payments consistent with a surge in import bill.
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Watakuambia Kenya tuna cheap tourism - eti wao ndio wanatengeneza pesa nyingi kwenye tourism.
 
ichoboy01 said:
2018 sisi tuko na 3.6b nyinyi 2020/2021 ndio unaleta hio data 🤣🤣🤣🤣

miaka mitatu mzee ni mingi sana 😂😂😂 hapo bado ile data yakupikwa haijapikwa vzr
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Kijana mbona haufanyi uchunguzi kwanza, kazi ni kueneza porojo na uongo mtupu, same source 😂 😂 😂 😂 😂 😂 😂 😂 😂 jifunze kujikubali, mifukara 😂 😂 😂 😂 😂 😂 😂 😂

Kenya: 2020 4,678, 500 metric tons (4.67 Billion liters)
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Tanzania: 2020 3.63 Billion liters 😂 😂 😂 😂 😂 😂
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Banks post Sh162b profit in 10 months on higher lending​

NEWS​

By Patrick Alushula | January 20th 2022​


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Kenya Commercial bank (KCB) branch at Kipande House along Kenyatta Avenue, Nairobi. [Elvis Ogina, Standard]
Banks’ pretax profits for 10 months to October last year grew by 63.7 per cent on the back of increased lending and reduced loan defaults.
Fresh data from the Central Bank of Kenya (CBK) shows the earnings grew to Sh161.9 billion from the Sh98.9 billion posted in a similar period last year.

The earnings, which were higher than the Sh112.8 billion that was booked in 2020 full-year, signals that record profits are expected in March when lenders make public their full-year performance for 2021.
Investors also expect dividends with chief executives of banks such as KCB, Equity, Absa and NCBA having said in November that there would be no reason to withhold payouts with such growth momentum.

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The latest CBK data means banks were on average making Sh16.19 billion monthly compared to 2020 when they averaged Sh9.89 billion in an environment where Covid-19 control measures such as curfews and lockdowns were at the peak.
Banks have enjoyed increased lending and reduced loan defaults as customers stepped up repayments on the softening of coronavirus-induced economic fallout.
The industry loan book grew by Sh226.9 billion to Sh3.226 trillion during the review period in which banks’ average interest rate was 12.12 per cent. The latest profits are also above the Sh159.9 billion that banks made in the year ended December 2019, meaning that lenders have now beaten their pre-pandemic performance.
While banks expanded their loan book by 7.6 per cent in the review period, gross loans in defaults rose by 3.7 per cent to Sh439.6 billion.
Banks’ asset quality, measured by the proportion of loan book that was in default, improved from 14 per cent in June and has been coming down, closing October at 13.6 per cent, same as September.
The sectors’ 10-month profits are in line with the results reported by Equity, KCB, Cooperative, Standard and Absa in the third quarter ended September 2021.

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Developers project high demand for residential, rental housing this year​

REAL ESTATE
By Graham Kajilwa | January 20th 2022​


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An aerial View of Nakuru City’s Residential estates. [Ben Ahenda, Standard]
If you are seeking to invest in the real estate sector this year, then the satellite towns of Ngong, Kajiado and Rongai should rank top on your list.
Also, if you expect prices of land and buildings to dip this year so that you can purchase some property, then expect bad news.

They will not, especially if you plan to invest in Nakuru County which received the city status last year.
“We also see an increase in uptake of office space in certain cities where white-collar jobs are growing fastest. This, for instance, is an opportune chance to invest in Nakuru City,” reads the real estate outlook by Lesedi Developers, a real estate firm.

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“Real estate will appreciate at an above-average rate through late 2022 for three reasons–scarcity, utility and demand.”

The real estate firm predicts that buyers who are waiting for prices to plummet this year will likely be disappointed. “Yes, prices and demand are higher now and will keep going higher in months to come,” says the firm.
It adds that looking ahead into the year, land buyers, sellers and investors can expect some more of the same when it comes to continued demand, with some return to seasonality as well as a rise in interest rate.
This may have a mild impact on real estate transactions. “Rising prices will put pressure on affordability. Interest rates will rise, but wage growth may help to provide a balance for buyers,” says Lesedi Developers.
The firm notes that the rental market will see continuous growth throughout the year as demand remains high.
It points out that land prices have become inflated such that the percentage of people who can afford have reduced and will continue to do so.
“We are becoming a renter nation, particularly in the urban and peri-urban areas and this trend will keep growing into 2022,” it says.
According to Olive Limited, a firm that deals in land, consultancy and construction, the demand for land will continue to grow. “Land proved to be a resilient asset even as the pandemic sent the economy into disarray,” says Olive Limited in its 2022 outlook report.
Investment savvy
Projects like the Nairobi Expressway and the expansion of major highways such as Waiyaki Way are expected to increase the demand for land.
With increased urbanisation and the growing population, Kenya’s young and investment savvy population will continue driving the growth of demand for land.
“Satellite towns such Kimuka and Ngong remain appealing to potential investors. Kimuka has the fastest appreciating land prices while land prices in Ngong have been on a double-digit growth trend over the years,” the firm notes.
“For investors looking for land that can make them passive income, the opportunity lies in acquiring and developing land in areas such as Ngong, Rongai and Kajiado.”
While the experts agree that prices of land will continue increasing this year, demand for residential houses will also rise.
This is backed by a recent report by the Kenya National Bureau of Statistics, among other State agencies, which detailed the difficulty some Kenyans had in raising rent during the pandemic period.
“This has made it clear for thousands of Kenyans that owning a home is not a goal that should be postponed until retirement age,” says the report by Olive Ltd.
It adds, however, that affordability is key for the thousands of Kenyans looking for an opportunity to own a home. “Satellite towns such as Ngong will continue to attract young and old investors. The infrastructural developments in these towns characterised by the development of roads, electricity, and other amenities have made them attractive for potential homeowners,” reads the outlook.
For holiday homes, sandy beaches, road trips and nyama choma at resorts and lodges will not be the usual rendezvous for those seeking recreational activities and places.
Olive says Airbnb will become a more popular option for holidaymakers as more Kenyans take advantage of its offers.
Uptake of office spaces will be shifting, says the firm, as the sub-sector is still trying to get its footing following a drop in demand in 2020 when Covid-19 struck as many organisations resorted to working from home.
“The disruptions in the supply chain and economic recession further fortified the need for organisations to re-evaluate their working models,” says the firm.
Organisations will continue to find ways of reducing their overheads by seeking affordable options and adapting work from home models.”
 
toptorn said:
Lakini hapo ni category ya industry usages
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total consumption.., ama leta data kutoka source nyingine basi tuone., ata ile ya statista yenye mwenzako ichoboy alileta inadhiirisha mko chini ya Kenya by far, hapa hakuna haja ya kupingana, jikubalini tu na msonge mbele mtafika siku moja, usife moyo..,,
 
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