News From The Web

Browse through our curated selection of African economic, real estate and infrastructural stories from around the web.

KBC

10,000 housing units to be constructed in Kilifi County

April 17th, 2019

About 10,000 housing units will be constructed in Kilifi County over the next four years under the affordable housing programme.

Housing Principal Secretary Charles Hinga says the national government is spending 17 billion shillings to equip Technical Educational and Vocational Training institutions to offer technical training to the youth to prepare them to participate in construction of houses under the affordable housing programme.

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Mediafrica

A futuristic smart city scores big with new solar plant in Kenya

April 17th, 2019

In Kenya, local energy developer Equator Energy, has commissioned a 1 MW plant near the capital city Nairobi.The plant is located at Tatu City, a city under construction 23 km north of Nairobi, the Kenyan capital.The plant includes 2,880 solar modules fixed on 5,700 m2, on the roof of the headquarters of Dormans Coffee, a coffee transformer. The solar panels are connected to each other by at least 15 kilometres of wire.

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Mybroadband

Airbnb crackdown in South Africa – Here is what is happening

April 17th, 2019

The Federated Hospitality Association of SA (Fedhasa) has called on the government to crack down on Airbnb – a call which has been echoed by smaller hospitality organisations.

Airbnb has seen impressive growth in South Africa, and a lot of this growth came at the expense of established bed-and-breakfasts and hotels.

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Pulse

Building Collapse: SON sensitises stakeholders in Ondo

April 17th, 2019

The Standards Organisation of Nigeria (SON) on Tuesday in Akure, organised a workshop aimed at addressing the menace of frequent building collapse in the country.

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Independent

Igbinoba Laments Nigeria’s Missing $20bn Projected 2019 Global Investment In Proptech

April 17th, 2019

With the projected $20billion 2019 global investment in the property technology sector, Roland Igbinoba, founder, Roland Igbinoba Real Foundation for Housing & Urban Development (RIRFHUD), has lamented that the country doesn’t stand chances of benefitting from such huge global investment as its property technology sector is still grossly underdeveloped.

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BBC

Kenya's 1.5% housing levy sparks anger

April 17th, 2019

There has been an angry response in Kenya to a decision by the authorities to introduce a new salary levy to help build low-cost homes.

From next month, employees will pay 1.5% of their pay to the housing fund and that amount will be matched by the employer.

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Mondaq

National Housing Fund (Establishment) Act, 2018: Analysis And Recommendations For Legislative Review

April 17th, 2019

In a letter dated March 19, 2019, addressed to the leadership of the National Assembly and read at Plenary on the floor of the Senate on Tuesday, April 2, 2019, President Muhammadu Buhari declined assent to eight Bills earlier passed by the federal parliament, one of which was the National Housing Fund (Establishment) Act, 2018 ("the new NHF Act"). Predicating this decision on his powers under Section 58(4) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended), the President specifically attributed his decline to give assent to the new NHF Act to the various levies it imposes on Nigerians and business entities, which as have been argued by relevant industry stakeholders, would have negative impact on Nigerian workers and also be disruptive and punitive to industries and other sectors of the Nigerian economy, if allowed to take effect. The new NHF Act was passed by both Chambers of the National Assembly to repeal and replace the National Housing Fund Act, 1992 ("the 1992 Act")

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Guardian

Property experts task FG on practicable housing policy, others

April 17th, 2019

Operators in the Nigerian real estate development industry, say that there is a need to look at the sources of financing construction of housing to make life meaningful for Nigerians and also make housing affordable for all.

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Businesslive

Weak economy hinders prospects of real estate listings in 2019

April 17th, 2019

Property shares on the JSE trade for less than their asset value, indicating the market expects the sector to keep heading south

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Construction Kenya

200,000 Kenyans sign up for low cost housing deals

April 16th, 2019

More than 200,000 Kenyans have enrolled for the State-funded affordable housing scheme barely three months after the government unveiled a website that seeks to facilitate allocation of homes.

As of Tuesday morning, 205,899 citizens had registered on the Boma Yangu online portal attesting to the huge national interest in the housing scheme

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Vanguard

4th Elan international building & construction expo to discuss building collapse

April 16th, 2019

Players in the construction and building materials sub-sectors of the nation’s economy are expected to converge at the 4th International Construction, Building Materials & Technologies Exhibition which is a platform for building, construction and related industries’ operators to display their latest products, services, innovations and offer solutions to contractors, built environment professionals such as architects who are specifiers, quantity surveyors, building materials dealers and others.

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Vanguard

Enugu govt begins construction of Abakpa Nike-Emene link road

April 16th, 2019

There was jubilation in Enugu yesterday as Governor Ifeanyi Ugwuanyi flagged off the construction of the second phase of the all-important Nike Lake-Harmony Estate-Adoration Ministry- Emene road in Enugu East Local Government Area, linking the ever-busy Nike Road and Emene.

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Businessday

Famfa Oil Tower elevates prime office space with strong value propositions

April 16th, 2019

For savvy real estate investors, especially the patient ones with long term view of the market , economic recession or slowdown is a mere cycle that should not affect, significantly, major investment decisions. Some believe that the best time to invest is when an economy is recessing. Such decisions become a lot more compelling in…

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Vanguard

Hope rises for real estate investors as sector’s growth potentials thrive

April 16th, 2019

Without a doubt, the real estate sector has continued to be one of the most important sectors in the Nigerian economy. Figures have shown that the sector contributed immensely to Nigeria’s gross domestic product (GDP). For instance, in 2018, it contributed 1.26 trillion naira to the country’s national income. Moreover, the sector grew by 38% between the first and last quarter of 2018.

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Guardian

Insurance stakeholders meet on investment

April 16th, 2019

Continental Reinsurance Plc has hosted Chief Executive Officers (CEOs) of insurance companies and regulators across Africa at its yearly CEO Summit in Mauritius.

Themed “Leadership for Sustainable Insurance,” the two-day Summit highlighted the role of the insurance industry in supporting investments that contribute to United Nations Principles of Sustainable Insurance.

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