By Majangah Larmy Naivasha is swiftly emerging as the next frontier for investors, both local and international, who are eager to seize the opportunities this charming town has to offer. The recent surge in investment interest can be attributed to the town’s remarkable growth and enhanced infrastructure, which has attracted a multitude of developers and homeowners. Established in the 1980s by Joseph Thomson, Naivasha possesses a unique combination of key assets that beckon investors. These include access to cost-effective geothermal power, abundant and affordable land, and its strategic proximity to Nairobi. These factors have ignited a rush among investors to make their mark in this promising region. The extension of the Standard Gauge Railway (SGR) line from Nairobi to Naivasha has further elevated the town’s significance as a trade hub. This development facilitates the efficient transportation of cargo from the port city of Mombasa to Naivasha, significantly boosting trade and commerce in the area. Abundant and Affordable Land In Naivasha, acquiring vast tracts of land is a hassle-free endeavor, a stark contrast to major cities where land scarcity poses significant challenges. Naivasha presents minimal legal hurdles for developers, and its proximity to Nairobi only adds to its allure as an investment destination. Geothermal Power Advantage Naivasha’s geothermal power plant has considerably lowered energy costs, making it an attractive destination for investors. The ready availability of energy has spurred the growth of various industrial activities in the region. Home to notable companies like Roka Industries (electricity cable manufacturer), Plantec Limited (Kenya’s leading producer of fruit and vegetable seedlings), Keroche Breweries, and Mashwa Breweries, Naivasha offers all the essential ingredients for large-scale industrial success: land, water, and power. Tabitha Karanja, the Managing Director of Keroche Breweries, once noted that Naivasha provides a conducive environment for thriving industries, citing the area’s abundance of land, water, and power. Rising Tourism Hub Naivasha has transformed into a bustling hub for businesses and conferences, ranking second only to Mombasa as a tourist destination, according to the Ministry of Tourism. The town boasts a range of high-end hotels, such as the Lake Naivasha Spa and the Enashipai Resort Lodge, making it an ideal destination for tourists. With its serene atmosphere compared to the bustling Nairobi, it has become the preferred choice for many Nairobi residents. Notable attractions include Lake Naivasha, Hell’s Gate National Park, and a vibrant ornithological spectacle featuring approximately 400 bird species. Flourishing Flower Farms Home to over 50 flower farms, including names like Finlays, V-D Berg, and Longonot Horticulture, Naivasha’s flower industry draws water from the nearby Lake Naivasha and provides employment to over 60,000 workers. Industrial Parks and Expansion The government’s allocation of 1,000 acres of land for the Naivasha Industrial Park, located just a short distance from Mai Mahiu town, has paved the way for significant growth in the region’s flower business. This expansion has resulted in the transformation of the park into a multi-billion-dollar seedlings plant, along with the establishment of seven flower farms. Holiday Homes in Demand Naivasha’s appeal extends to the flourishing holiday home market, attracting various types of travelers seeking comfortable, affordable, and private accommodations. Changes in spending habits among tourists have fueled the demand for holiday homes, as they offer a more cost-effective and personalized alternative to traditional hotels. Airbnb and similar short-stay platforms have revolutionized the market, making holiday homeowners a prime choice for many travelers. This shift in preferences has created a substantial market for holiday landlords and landladies. In Kenya, Naivasha, along with the coastal region, has seen a surge in holiday home offerings. Northlake Breeze Estate Naivasha was conceived to cater to the rising demand among holiday homeowners keen to tap into this growing market.

Kenya’s National Cement Holdings is poised to take the reins at CIMERWA, Rwanda’s foremost cement producer, signaling a transformative shift in ownership. The strategic acquisition, announced on Friday, November 17, unveils National Cement as the new majority stakeholder, set to control an impressive 99.94% of CIMERWA through individual share purchase agreements with PPC International Holdings Proprietary Limited and Rwanda’s minority shareholders. This development marks a significant milestone for Rwanda’s cement industry, as the country’s sole integrated cement producer transitions into the hands of National Cement, a dynamic player with a robust presence in East Africa and ambitious plans aligned with the region’s infrastructure development goals. CIMERWA, majority-owned by PPCIH, is set for a transition that promises not only increased production but also sustained growth under National Cement’s committed ownership. With a 51% stake, PPCIH currently holds the majority share in CIMERWA, while the remaining 49% is distributed among minority shareholders, including Rwanda Social Security Board (RSSB), Agaciro Development Fund, Rwanda Investment Group, and SONARWA General Insurance Company Holdings Ltd. Over the years, CIMERWA has demonstrated notable improvements in operational efficiency and financial performance, thanks to the support of its leadership team and shareholders. Regis Rugemanshuro, Chairman of CIMERWA, expressed enthusiasm about the entry of National Cement into the Rwandan market, anticipating a positive impact on production and overall growth. Rugemanshuro extended gratitude to current shareholders and affirmed CIMERWA’s dedication to building on past successes and enhancing its regional influence. National Cement, a part of the Devki Group of companies, brings a wealth of experience from its diverse portfolio in cement, steel, roofing materials, fertilizers, and packaging materials. Operating integrated cement and clinker plants, as well as multiple grinding plants in Kenya, and a cement grinding plant in Eastern Uganda, the Devki Group is a key player in the East African cement industry. The acquisition of CIMERWA aligns seamlessly with the Devki Group’s expansion strategy and commitment to regional infrastructure development. Dr. Narendra Raval, Chairman of Devki Group, emphasized a long-term strategic partnership with CIMERWA, expressing confidence in the business’s potential and eagerness to contribute to regional infrastructure development. Meanwhile, Roland van Wijnen, CEO of PPC Ltd, highlighted the completion of PPC’s strategy to refocus on core Southern African markets, expressing confidence in National Cement’s ability to fill the void left by PPC in Central and East Africa. The transaction’s implementation is contingent on meeting or waiving conditions precedent typical of such transactions, with a targeted completion date by no later than February 29, 2024, as outlined in the official statement. Established in 1984, CIMERWA Plc brings four decades of experience as Rwanda’s premier integrated cement manufacturer, with its production plant located in Bugarama, Rusizi District, near the southwestern border of Rwanda.  

Real estate developer Mi Vida Homes has signed an investment deal with International Housing Solutions (IHS) to develop the ‘237 Garden City’ housing project, pointing towards timely delivery. Under the agreement, which is subject to regulatory approvals, IHS Kenya Fund will acquire two hundred units within the project. The project is the third by the property developer at Garden City, which is a 47-acre mixed-use development situated along Thika Road. Speaking during the announcing ceremony in Nairobi, Mi Vida Homes CEO Samuel Kariuki, said the purchase agreement, at an undisclosed fixed price, will enable the developer mitigate market risk, which is a challenge to scaling for the wider housing market. “Through this partnership, we have a guaranteed market for the apartments we are building. Our main goal is to guarantee timely delivery and sustainability at every stage of the project, including planning, building and project management,” Kariuki said. IHS Kenya managing director Peter Mayavi reiterated the purchase agreement will guarantee Mi Vida Homes a ready market, thus boosting the confidence of both the developers and other stakeholders. He added that the pact is timely because Kenya has a pressing need for housing that is not only affordable, but offers the quality that ensures users get a dignified living. “A key way of ensuring this goal is removing the market risk for developer partners because this will now catalyze the development of large-scale projects such as 237.” Kenya faces a shortage of about two million housing units every year, against a current supply of only 50,000 new housing units. The units in the 237 development are a mix of one-bedroom and two-bedroom apartments. IHS is a private equity fund manager investing in green affordable housing across Sub-Saharan Africa. It additionally partners with other financial institutions, development financiers, investors, land owners and developers to increase the stock of quality, affordable green housing in the Kenyan market. It intends to build sustainable city communities where residents will live close to public transportation, create jobs through their developments, and work with non-profits to solve inequality in the real estate industry. Within the next seven years, IHS Kenya intends to provide up to 4,000 affordably priced apartments for both sale and rental. Further, IHS is an asset manager of six affordable housing funds in the Southern African region and manages  a listed REIT on the Johannesburg Stock Exchange. It boasts of a solid track record in the African affordable housing space with operations across four countries in the Sub-Saharan African region (South Africa, Namibia, Botswana and Kenya), and is a wholly owned subsidiary within the US- Hunt Companies group, a real estate and infrastructure fund manager. On the other hand, Mi Vida is a residential developer created through a joint venture between Actis, a leading growth markets investor who have been active in the region for over 70 years and Shapoorji Pallonji Real Estate (SPRE), the real estate arm of one of India’s largest conglomerates. Was officially launched in July 2019 to address the shortage of middle-income housing that families can afford, by delivering a minimum of 3,000 middle-income housing units over the next five years. It is embodied in works of innovative design, modern engineering, trusted construction, on-time delivery and an impeccable record.