Monthly Newsletter - Issue 2, February 2017
Welcome to the Landmark Africa monthly bulletin. As 2017 gets into gear, there are several issues that are pre-occupying business executives in Nigeria. One of the overriding issues remains access to foreign exchange, which has exacerbated the disparities between the CBN and parallel exchange rate. Recent action by the CBN to increase the supply of dollars to the market, has yielded some benefit enabling the naira to rally marginally in the short term.
Results from the latest Young Presidents’ Organisation (YPO) Global Pulse Index revealed that business confidence among CEO’s in Africa declined in Q4 2016. The decline was largely due to a decrease in business confidence in Nigeria, Kenya and Zimbabwe.
One of the key concerns of CEO’s in Nigeria, remains access to foreign exchange. The recent action by the CBN if sustained, should help ease some of these concerns. Other concerns that CEOs have, include supply chain challenges as well as Nigeria’s ability to attract FDI . To this end, with a view to making it easier to attract FDI and investors, the Ministry of Industry, Trade and Investment and Nigeria Immigration Service (NIS) have spearheaded measures to make it easier for certain categories of visitors travelling into Nigeria to apply for visas on arrival.
NEWS ROUNDUP
Estate agents tasked on research, innovation
Members of the Association of Estate Agents in Nigeria (AEAN) have brushed aside political and economic challenges that have plagued the Nigerian nation, agreed to embrace new innovation and imbibe the culture of research.
Kenya: World Bank Ranks Dar Real Estate Ahead of Nairobi's
Tanzanian capital Dar-es-Salaam's real estate has been ranked ahead of Nairobi and Addis Ababa in the World Bank's latest cities report, which cites land fragmentation and weak property rights as the sector's biggest impediments in Africa.
African cities will remain 'closed to the world' without reform and investment, World Bank says
Cities in sub-Saharan Africa are among the most expensive in the world for businesses, relative to income levels, and will remain “closed to the world” unless policymakers reform urban land markets and invest in infrastructure, a new report by the World Bank has found.
Kenya real estate market booms
The past decade has seen significant growth in most key sectors of the Kenyan economy, thanks to a vibrant private sector and the ever-increasing foreign appetite for investments in Africa.
Uganda: Stanlib, Chestnut to Build U.S.$50 Million Mall in Kampala
South African property developer, Stanlib and its local partner Chestnut Uganda plan to construct a $50 million shopping mall in Kampala's suburb of Makindye Municipality. The Arena Mall will be built on a five-acre piece of land, less than 2km from the capital's central business district.
Africa's ' resilient cities' plan for the future
The effects of climate change may not be apparent in some parts of the world just yet. But in Dakar, the battle against nature has already begun, with coastal erosion wreaking havoc on the city's peninsula that stretches into the Atlantic - forcing people to move out of their homes and ruining its long, sandy beaches.
New N20billion REIT lifts Nigerian real estate industry
Fresh prospects maybe on the card for real estate investors seeking property ownership without the attendant expenses or difficulties of being a landlord, if statements made recently by one of Nigeria’s leading property development company – Top Services Limited (TSL) are anything to go by.
Rwanda: New Measures to Meet Housing Needs Unveiled
The government has come up with new measures to meet housing needs in the country, Didier Sagashya, Director General of Rwanda Housing Authority, has said.
Land rights key to fixing Africa's crowded, costly cities - World Bank
Africa needs to reform its systems for buying and selling land and invest aggressively in urban infrastructure to create jobs, end poverty and reduce cities' high living costs, the World Bank said on Thursday.
Discover game changers in Africa’s property world on CNBC Africa’s "A Place In Africa"
CNBC Africa, first in business worldwide, brings you a brand new Pan-African television show, ‘A Place in Africa’, dedicated to the property market across Africa. On the show we meet Africa’s city builders, discuss the mixed-use concept, feature young people and female moguls making waves in Africa’s property world.
INFOGRAPHIC SNAPSHOTS
Nigeria ranked 169th on the World Bank’s Ease of doing business index, a marginal improvement from 170th position in the preceeding year. Access to credit, paying taxes and registering property are factors that have impacted on the ease of doing business in Nigeria.
Ease of doing business in Nigeria, 2016 - 2017
Source: World Bank Doing Business 2017 report
INSIGHTS FROM THE REAL ESTATE DESK
EVENT HOSTING
The hosting of international conferences and events provides major cities around the world with an opportunity to showcase their cities, raising its profile. This brings economic benefits to the city and by extension country. It enables business people to network, with the hope for future business investments. It also enables a city to grow their tourism sector. Supporting industries like hospitality and transportation services also benefit from the increased visitor traffic.
South Africa has so far led the way in Africa, attracting a large number of international conferences and exhibitions with other countries like Rwanda stepping up their efforts to attract a larger share of the conference and events market. Lagos, a key West African city has continued to attract a larger number of conferences, like Social Media Week which is currently taking place. The newly extended Landmark Centre in Victoria Island, has been able to attract larger conferences, helped by to its increased capacity. The secure facility with large parking facilities has been an added bonus for conference organisers.
"The extension of the Landmark Event Centre in Victoria Island Lagos, will increase the attractiveness of Lagos as a go-to destination for large events and conferences" - Emeka Njoku, Business Development Manager, Landmark Africa
CURRENT PROJECTS
UPCOMING EVENTS SCHEDULE
Social Media Week Lagos 2017
Date: 27 February – 3 March 2017
Venue: Landmark Event Centre, Lagos
For more information: https://socialmediaweek.org/lagos/
MIPIM
Date: 14 -17 March 2017
Venue: Palais de Festivals, Cannes, France
For more information: http://www.mipim.com/
East Africa Property Investment Summit
Date: 5 – 6 April 2017
Venue: Radisson Blu, Nairobi
For more information: http://www.eapisummit.com/
City Invest
Date: 23 – 24 May
Venue: Landmark Event Centre, Lagos
For more information: http://10times.com/city-invest
Housing for Africa Conference and Expo
Date: 23 May 2017
Venue: Gallagher Convention Centre, Johannesburg
For more information: http://10times.com/housing-for-africa
Africa Construction Summit 2017
Date: 30 - 31 May 2017
Venue: Munich Park Hotel, Germany
For more information: http://africaconstructionsummit.com
GRI Africa Summit 2017
Date: 30 – 31 May 2017
Venue: Johannesburg, South Africa
For more information: http://www.griclub.org/event/world/gri-africa-summit-2017_187.html
The Economist Nigeria Summit 2017
Date: 22 June 2017
Venue: Jumeirah Carlton Tower, Knightsbridge, London
For more information: http://www.economist.com/events-conferences/emea/nigeria-summit
COBRA 2017
Date: 29 – 31 August 2017
Venue: University College London
For more information: http://www.rics.org/ng/training-events/conferences-seminars/cobra-2017/london/
West Africa Property Investment Summit
Date: November 2017
Venue: Lagos (TBC)
For more information: (TBC)
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