Property: Where is the equilibrium?

…….Seven years down the line, the chorus is one “Brick and mortar”. We have witnessed unprecedented revolution in the property market, like never before. 

It has out weighed 1965 policy paper that brought about housing finance company.According to a study, investment in real estate over the past ten years returned an average of 3.5 compared to the Nairobi Stock Exchange.

Interesting, we have become the most expensive property market in Africa.   Of course, the sub-prime mortgage disaster is very much fresh in the societal web.  

Jambo mbwana,dada, habari gani? Mzuri sana...!

Petty and small lead economic revolutions

Despite the happenings in the North Africa and Middle East, there are signs of economic take off in this continent. At least, 20 countries are expected to record increase per capita income in the next ten years.

The Information age, has radically changed both mobile and banking industry. Interestingly, there is a tussle over the control of the digital television content. This has resulted to a stalemate. This is a clear indication of how internet is gradually scaling down the traditional media. Recently, a global advertising company CEO, said" New media is nightmare, but it's a reality".

The result of doing petty, small businesses cannot be understated. The drafters of Tourism Bill intentionally, failed to make provisions for Small and Medium Enterprises, community tourism entrepreneurs and the informal sectors to access financial/advisory services.
Surely, middle-income earning economies are not made this way…..




Jambo mbwana,dada, habari gani? Mzuri sana...!

Devolving business at the grassroot level.

The mine field in the new dispensation will be found in the counties. Although, the national government will continue to play a significant role, a paradigm shift is expected -development. In school, we all competed fervently in the inter-classes and clubs. It must be a new beginning of the economic growth that will be based on good policies and resources. I recently, attended one of the meetings collating views to be harmonized based on opportunities in each county. Some of the functions and powers of the county includes:

a) Trade development .i.e. markets, fair trading practices, local tourism, and cooperatives societies.
b) Agriculture .i.e. crop and animal husbandry, livestock sale yards, county abattoirs.
c) Cultural activities, public entertainment and public amenities .i.e. museums, sports and activities, libraries, video shows and hiring, racing etc
d) Control of air pollution, noise pollution and out door advertising.
e) Transport i.e. county roads, public road transport, street lighting, traffic and parking among many others.

The counties that will elect development minded governors/deputies are bound to prosper. However, a sophisticated system to track usage of public expenditure is required. This will ensure integrity and encourage fairness. Anything short of strong, effective and efficient system will abort the noble vision.

We are yet to tap the natural thing i.e. oil like our brothers in the Maghreb [the five North Africa countries, Morocco, Algeria, Tunisia, Mauritania, and Libya]. Things are made to happen and not visa vis. So it is an economy which relies on unnatural things like innovation, ingenuity, morals and intellect. Of course, it's the high time we transformed our young democratic space towards a more meaningful economy.

We are talking the future of the Sub-Saharan country at the grass root level and beyond.......

Off the cuff: Many eat European soccer but who will laugh last in the English premier?

 

Jambo mbwana,dada, habari gani? Mzuri sana...!