https://www.standardmedi...robi-dip-by-27-per-cent

Land and property prices in Nairobi and it's environs are self-correcting due to market forces with a report revealing a drop of upto 27%.

A recent Macro Strategy Report published by EFG Hermes, a financial service company, which analysed land prices in the high-end market segment, upper-middle and satellite towns found that the pricing was significantly lower in the first quarter of 2021 compared to the past four years.

It notes that prices of residential and commercial property in Nairobi’s satellite towns have dipped since quarter four of 2019. “Could this represent the early signs of a deeper correction in high-end property prices?” posed the report.

The report says the property market in the country is overvalued, noting that the Covid-19 pandemic has seen distressed properties sale for less than their initial valuation.

The survey notes that the current land prices in the high-end segment are significantly lower than their peak levels over the past four years. “Notably, Quarter One (Q1) of 2021 land prices in Runda were 27 per cent below their recent peaks in Q4 of 2017,” reads the report in part.

“In the middle-income segment, current land prices are also lower than their peak levels over the past four years, but not by as much as the high-end segment.”

Prices in Runda have dropped way below the initial prices in Q4 of 2014. The report notes that while current land prices in Parklands and Westlands have changed from their peak levels over the past four years, current land prices in Upper Hill - Nairobi’s most expensive suburb are 13 per cent below their peaks in Q4 2017.

“Donholm stands out within the other segment for being the only suburb that has continued to see its land prices materially appreciate since Q4 2017,” noted the survey.

The report says on the performance of suburb land prices in Nairobi, between Q4 2017 and Q1 of 2021 all have underperformed the Consumer Price Index (CPI) which is 20 per cent.

“This has to be concerning for the outlook of the property market in Nairobi’s suburbs,” it reads.

Britam Group Managing Director Tavaziva Madzinga is set to end his short stint with the regional underwriter in April 2022.
In an announcement made today, the management of Britam has credited Mr Madzinga with steering the company back into profitability and overseeing a restructuring which has seen it book gains of up to Kes500 million

I am wondering what was this all about? It looks like some power play at play or power play turning into constipation here.

If only paul Kimani could tell us what is happening with his employers. That would be very useful.

I think he was in to clean the house and leave it leaner and for someone else to handle the cooling of after massive layoffs.

Then he goes off to an already profitable firm.
https://www.businesslive...a-as-its-new-group-ceo/

Hi game ya CEO ni kama player transfer.

https://khusoko.com/2021/12/26/ifc-to-buy-4-2-stake-in-britam-from-equity-group-holdings/
International Finance Corporation (IFC), a sister organization of the World Bank and member of the World Bank Group, is set to buy a stake in Britam through a share purchase agreement.

IFC which is already a significant shareholder in Britam with an 8.8 % stake in Britam, intends to acquire an additional 4.201% equity (158, 540,750 shares) held by Britam in Equity Holdings.



The capital gains from the transaction are aimed at boosting Britam’s cash flow and profit.

“The proposed subscription is subject to conditions that are customary to transactions of this nature, including receipt of shareholders’ approval and regulatory approvals,” Britam said in a statement.

They have decided to do it the centum way "sell the golden goose"

The golden goose wasn't laying eggs.
It has not been giving dividend,yet the nature of Britam's investment,it requires investment that give back cash returns.