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Kasada Hospitality Fund LP (&ldquo;Kasada&rdquo;), yesterday announced its acquisition of a portfolio of Sub-Saharan African Hotels from AccorInvest.

The acquisition is the first transaction made by Kasada Capital Management through the debut hospitality <a href="http://www.kasada.com/" style="color: #ff6600;">fund</a> and is the largest cross-border M&amp;A deal in Africa.

The transaction will give Kasada control of 1,602 fully operational hotel rooms with facilities spread across three countries- Ivory Coast, Senegal and Cameroon.

In 2019, the Sub-Saharan hospitality investment platform reached a first close on its maiden fund Kasada Hospitality Fund LP with equity commitments of over USD 500 million, with USD 350 million from Katara Hospitality and USD 150 million from Accor.

&ldquo;The first platform of its kind in Sub-Saharan Africa, Kasada Capital Management intends to bridge the gap between the local hospitality market players and international investors.&rdquo; says a statement from the company.

The fund which is expected to be a game-changer in Africa&rsquo;s hotel investment landscape said the acquisition will focus on servicing intra-regional business travel in Africa.

The transaction was executed during one of the most challenging periods for the African hospitality sector and is a reflection of Kasada&rsquo;s continued commitment to the region and belief in the prospects for its post-Covid-19 recovery Kasada has committed to implementing new standards in terms of local management teams and environmental footprint while ensuring guest satisfaction levels continue to develop.

AccorInvest is the owner and operator of a property portfolio of more than 880 hotels, owned and leased, located across 28 countries in Europe, Latin America and Asia.

The sale of the portfolio of hotels in Sub-Saharan Africa to Kasada marks the refocusing of its investment strategy on Europe, positioning Kasada as the market leader in Sub-Saharan Africa.

&ldquo;This is an outstanding portfolio of hotels covering all market segments and fully aligned with Kasada&rsquo;s strategy. We look forward to working with the fantastic teams running the portfolio and to help drive the growth of the hospitality sector in this promising region,&quot; said Olivier Granet, Managing Partner and CEO of Kasada.

Also Read;&nbsp;<a href="https://estatecloud.co.ke/covid-19-could-ruin-record-year-for-africas-hotel-developers/" style="color: #ff6600;">COVID-19 could ruin record year for Africa&#39;s hotel developers</a>

The number of people living in urban slums in Africa doubled from 100 million in 1990 to 200 million in 2014.

This is despite the fact that the share of urban population living in these settlements has declined from 70-56 percent. However, according to Foresight Africa, the share of the urban population living in slums is 25 percent higher than the second-worst region, South Asia.

Data shows that citizens living in urban slums also face worse conditions with lower access to piped water, flush toilets, and electricity.

The research by Brookings states that only 33 percent of Nairobi Slum dwellers have access to piped water. However, in Kenya’s second-largest city, Mombasa, the situation is far worse with just 8 percent of slum dwellers having piped water even though only 18 percent of the coastal city’s dwellers had piped water

Only 65 percent of Nairobi City dwellers have access to a private toilet while slum dwellers in the city only 43 percent had private toilets. In contrast, Mombasa residents had more access to private toilets than in Nairobi with 61 percent of slum dwellers and 73 percent of city dwellers having private toilets.

The data shows service inequality within Kenyan cities with slum dwellers having far less access to basic services including electricity, piped water and toilets.

According to Foresight Africa, one of the top 10 priorities for Africa includes leveraging demographic trends for economic transformation through job creation, skills development, and urbanization policies.

The government's affordable housing program (AHP) has run into another hurdle after it emerged that the government lacks enough funds to run the program in this financial year and probably the next.

Treasury Cabinet secretary Ukur Yatani yesterday told the Parliamentary Transport Committee, chaired by Pokot South Member of Parliament David Pkosing that treasury has not released Ksh. 5 billion budgeted for the government’s affordable housing program in this financial year.

This comes as the government’s delivery gap widens with the 5-year target date drawing near. So far, only 228 units have been completed out of 1370 in the first phase.

<a href="https://www.treasury.go.ke/">Treasury</a> has only been able to release Ksh. 1 billion to the program despite receiving a request to release the funds according to housing transport and infrastructure secretary James Macharia.

Yatani painted a grim picture of the situation saying, “We may not even be able to provide anything in the next financial year.”

“We had budgeted for the take-off of the project but we are unable to release funds because there is no money,” he said

The committee's chair, Pkosing, had sought to know why Yatani assured the members of the committee that Treasury would pump funds into AHP, yet there was no action on the same.

Yatani also hinted that the Kenya Mortgage Refinance Company (KMRC) company will be the mainstay in ensuring the long-term success of the project.

Read; <a style="color: #ff6600;" href="https://estatecloud.co.ke/228-units-of-affordable-housing-so-far-complete/">Government has completed 228 units of affordable housing</a>

Government unable to release budgeted funds for affordable housing

International travel-booking company Tourlane has compiled a top-50 list of the world's most environmentally-friendly gateway cities, placing Nairobi top in Africa. The Kenyan capital was also ranked 14th globally, ahead of Cape Town and Morroco’s Marrakech.

The study ranked cities based on used eight criteria giving each city a score out of 10 in each one for a total score out of 80.

The criteria include Public transport, Percentage of green space in a city, Train accessibility, Level of car ownership, Ratio of locals to tourists, Renewable energy, Recycling and Clean air based on World Air Quality Index.

Nairobi's high scores came in the categories of low car ownership, the use of renewable energy, and its low ratio of tourists to locals. The ranking says it is an excellent place to start a road trip.

The city’s total score which was 36.5 out of 80 includes zero scores in the categories of train accessibility and public transport- based on the length of the metro network and light rail network of the city.

The ranking by Tourlane places Nairobi above global cities like New York, Paris, Rio de Janeiro, Rome, Toronto, Amsterdam and a host others in aggregate eco-friendliness.

Overall, Berlin ranked as the best city for an eco-friendly getaway. Second and third places went to Vienna and Munich respectively.

Read; <a style="color: #ff6600;" href="https://estatecloud.co.ke/nairobi-ranked-africas-most-dynamic-city/">Nairobi ranked Africa’s most dynamic city</a>

Nairobi ranked most eco-friendly city in Africa

Kenya's biggest cities face service inequalities

The Kenyan government took a big step in improving its business environment with the launch of the PPP disclosure portal <a href="https://pppunit.go.ke/">PPP disclosure portal</a> an online tool that makes all non-confidential information about PPP contracts available to the public. The portal, which went live in June, is the result of the government’s<a href="http://5.196.68.29/framework/DisclosureKenya_final.pdf"> collaboration with the World Bank Group</a> to improve transparency and accountability in PPPs since 2016.

The government launched the disclosure portal shortly after declaring its fight against corruption in the public sector at a time when citizens in Africa are increasingly demanding answers, engaging their governments, and increasing scrutiny in public spending.

According to the portal(link), Kenya has a pipeline of 70 projects that will be funded and or financed by public and private partnerships overseen by the unit. There are currently 6 fast projects that are at different stages of procurement, government approval, review or under development.

The private sector has played a key role in partnering with the Kenyan government on key infrastructure projects most notable in transport and energy sectors. As a result, the private sector is keen on the government’s efforts towards transparency. This may sound self-evident, but in many economies, achieving transparency is an uphill task wherever the private sector is involved in delivering public services.

Related; <a href="https://estatecloud.co.ke/knh-to-construct-new-seven-storey-hospital/">KNH to construct new seven-storey hospital</a>

However increasingly, governments understand that attracting the best private sector partners is impossible without transparent processes. And importantly, transparency is critical if the public is to accept a private sector role in government business. This awareness is growing, and slowly the tides are turning in favour of greater transparency.

Kenya’s example is telling. In recent years, Kenya has made PPPs a key element of its development strategy. Its goals are ambitious but achievable: under the <a href="http://vision2030.go.ke/">Kenya Vision 2030</a> strategy, Kenya is to become a newly industrialized, middle-income country by 2030 and the private sector is an important part of reaching that goal.

The disclosure portal is a tool to provide stakeholders with information to help increase confidence that interactions with the private sector are fair, legitimate, and above board. Its purpose is also to discourage corruption and ensures that the public can voice any concerns about a given project.

The portal provides information at each stage of the PPP life cycle i.e. identification, design, procurement, signing, construction, and operation. This means that potential investors, communities, development partners, and Kenyan citizens have a way to know how private sector partners are selected and what results can be expected from PPP contracts.

Also Read; <a href="https://estatecloud.co.ke/government-raises-financial-commitment-for-konza-technopolis/">Government raises financial commitment for Konza Technopolis</a>

In the long run, higher standards of transparency will enhance Kenya’s reputation as a reliable partner. It will also improves Kenya’s international standing as a leader in PPP transparency and information disclosure. Investors will be attracted by the better business environment that transparency is ushering in.

As a result, more financing from more sources will be mobilized urgently to improve infrastructure and services, leading to better roads, energy, agriculture, housing, and health. Experts are optimistic by that the new portal will boost the development of PPPs and infrastructure in the country.

Source; <a href="http://blogs.worldbank.org/ppps/kenyas-ppp-deal-information-now-open-public">World Bank PPP Blog</a>

Investors and construction companies in the country have stepped up their bid to narrow the skills gap in the country's construction sector. The Garden City Youth Development Program has entered its second training phase that will see 150 young trainees equipped with vital technical skills for the local construction industry.

The Garden City Corporate Social Responsibility (CSR) Program is part of a partnership between Garden City developer, Actis, the largest real estate private equity investor in Sub-Saharan Africa, and Arc Skills, an international Skills Development Company with operations in Kenya.

Launched in 2016, the program is designed to equip young trainees aged 18-35 in and around the Garden City area with quality, practical training that meets global standards, to help bridge the local construction market’s current skills gap.

A total of 283 young men and women were trained in a range of building and construction trades during the first phase of the program and were involved in the construction of Garden City residences (215 apartments, duplexes and townhouses built in two phases, now completed and occupied by tenants and homeowners).

‘‘Trainees in this latest building phase will be part of the construction team for Garden City Business Park where they will have the opportunity to get the practical, hands-on experience they need to get their qualifications. The first two commercial office blocks are currently under construction and East African Breweries Limited (EABL) has already taken up 60% of the premium office space after signing a long-term lease with Garden City earlier this year,’’ commented Chris Coulson, Managing Director, Garden City.

Related; <a href="https://estatecloud.co.ke/garden-city-business-park-breaks-ground-on-phase-one-office-complex/">Garden City Business Park Breaks Ground on Phase One Office Complex</a>

The first batch of 22 trainees from the new construction phase graduated today and received certification in plastering after receiving six weeks of competency-based technical training, assessment and certification from Arc Skills, the program manager.

‘‘The focus of training is on developing construction industry skills to align with the expected jobs generation profile of the Garden City developments. With this training, we want to empower youth with skills to enhance their chances of securing income generating opportunities,’’ noted Stephen Kimenye, Project Manager, Arc Skills.

The training is conducted in groups of 25 on a six-week basis and is aligned with the timeline of the ongoing construction of the Business Park and skilled labour needs of the development. On completion, students receive an internationally accredited certification from the Australian Vocational Training and Employment Group (AVTEG).

The vocational curriculum is based on Australian occupational standards and industry best practices and is tailored to meet both local standards and labour market needs. The mode of training is practical and modular, with the entire training taking place on live construction sites such as the Garden City Business Park.

Last year the Kenyan government, in partnership with China, launched a similar <a href="http://www.xinhuanet.com/english/2017-11/28/c_136785253.htm">program</a> to boost training and mentorship for youth keen to work in the country's blossoming construction industry.

Garden City to train 150 youth on technical skills for the construction industry

Feasibility study for the Mombasa Gate Bridge linking the island to South Coast has been completed. Michael Mwangi, the project consultant, who is also the environmental impact assessment team leader, said the Sh 78 Billion (US $777.8m) bridge will be complete in 4 years. The environmental and social assessment, has begun, and it will take about three years and then pave way for actual construction works.

The Repcon Associates Managing Consultant also said that, during consultations in the first stage of the study, it was agreed that the bridge will start on Lumumba Road, near Jela Baridi Prison, Majengo. It will cross the railway station and Moi Avenue along Archbishop Makarios Road, cross the Likoni Channel at Mwenza Creek and then join the Southern By-pass at Ziwani through the Mtongwe road.

He added that a lot of displacement is expected at the site of an interjection near Archbishop Makarios Road. The consultant, however, said that they were yet to establish the number of people who will be displaced.

According to the design, the cable-supported bridge will be 69m from the highest water level and 1.4km long.

“The total length of the road will be 10.5km,” Mr Mwangi told the first stakeholders meeting at Royal Castle Hotel, Mombasa. “We will have four lanes and provide sidewalks for pedestrians,” he added.
<div id="in-article-p-mid">He said there were nine options on where the bridge should be built and the agreed location will allow operations on both the Likoni and Mtongwe channels to continue. Consultations with the Kenya Ferry Services (KFS) management revealed that ferries could not handle the congestion at the channel, he added.</div>
<div></div>
“The management noted that even with more ferries the congestion cannot be dealt with, the channel being the only connection to South Coast,” he said.
<h5>Stuck in traffic</h5>
“For instance, on Wednesday, motorists were stuck in traffic for more than four hours at Likoni Channel after Mv Jambo ferry was withdrawn for routine maintenance, leaving only Mv Nyayo, Mv Harambee and Mv Likoni operational,” he added.

The motorists complained of delays occasioned by what they termed as poor management of the vessels. Mv Jambo was back in operation at around 9pm.

Mr Mwangi noted that the lack of a road connection between the island and the mainland poses monumental challenges to the economic development of Mombasa and Kwale counties. “Tourism has also suffered in South Coast,” said Mr Mwangi. “Ferry service is no longer viable,” he said.

The bridge will also boost the Mombasa Special Economic Zone project. Mombasa Lands, Planning and Housing executive Edward Nyale assured residents to be affected by the project that they will be relocated. “Your interests will be well taken care of,” said Mr Nyale.

Source; <a href="http://constructionreviewonline.com" target="_blank" rel="noopener">Construction Review</a>

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Estate Cloud

Kasada has Acquired 1602 African Hotel Rooms From AccorInvest

By Estate Cloud - over 2 years ago - Kenya

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