Economy
6th API Summit to Drive Deal Making in Kenya’s Real Estate Sector
In 2019, the 6th annual East Africa Property Investment (EAPI) Summit will facilitate a new of era of investment and development driven by market affordability, said its host, Kfir Rusin.
Hosted at the Radisson Blu Hotel on April 10 & 11, 2019, the EAPI Summit will provide a transaction focused and knowledge sharing environment for 500 senior delegates from more than 20 countries as they unpack the theme: Driving Affordability and Opportunity through the Property Value Chain.
According to Rusin, the 2019 theme is an extension of the current market cycle, macroeconomic environment and 12 months of learning and deliberations around creating transaction opportunities in Affordable Housing and the broader real estate sector.
“The reality is that the cost of real estate transactions remains too high in East Africa and this is inhibiting the growth of the sector. To restore real estate as a significant driver of sustainable growth, we have to reduce the input costs of building and deepen the available sources of funding; especially as we build the foundation for more affordable housing in Kenya and East Africa.”
Taking its lead from President Kenyatta’s affordable housing agenda; EAPI’s scope is significant and sector wide. However, Rusin points to the fact that the increasing participation of leading public and private sector institutions and bodies at #EAPI2019 is evidence that confidence is returning to the market following two years of subdued performance.
In recognition of improving market sentiment, EAPI 2019 will focus on achieving six key objectives which relate to the summit’s affordability and investment agenda and thematic focus areas. These include: design and construction; land and urban planning; finance and capital; regulatory framework and infrastructure.
As Rusin explains, “As an outcome based investment and transaction focussed conference; EAPI’S objectives are aligned to our theme and focus areas, and next year our primary objectives are to reduce the cost of construction; lower the cost of capital; unlock land for real estate development; create an enabling framework and environment for large scale property development and building the investment case for alternative asset classes and affordable housing.”
While affordable housing, and more importantly the funding and financing of these projects has generated a lot of interest and workshops in the Kenyan real estate and business market; the reality for Rusin is that EAPI’s international and regional investors and developers are results orientated and want opportunities to make deals and meet the decision makers.
“EAPI is a networking and business transaction platform, which attracts stakeholders from deep pools of capital and policy, who can interact with public sector policymakers and regulatory bodies. East Africa and Kenya has high growth potential and offers an attractive environment to do business, and we will see many new transactions announced, networking and deal making taking place next year across all sectors.”
The emphasis on bringing the public and private sector together; is a key focus for EAPI and is one of the key differentials of the summit, as Rusin explains. “The private sector is key to growth, but at this juncture, it’s critical that the public sector, industry bodies and the development finance institutions come together and drive transactions in the market and make the sector more attractive to local and international money.”
“From this perspective, we have partnered with the Kenya Property Developers Association (KPDA), Kenya Private Sector Alliance (KEPSA), Africa Union for Housing Finance (AUHF) Kenya Green Building Society (KGBS), Town and County Planners Associations of Kenya (TCPAK) and the Architectural Association of Kenya (AAK) as well as confirming participation from the International Finance Corporation (IFC). We have a number of new private and public sector companies and bodies who have indicated their sponsorship and attendance, which will be announced in 2019.”
And while real estate market has been relatively quiet in Africa over the 12-18 months, as a result of macroeconomic pressures, oversupply and lack of effective product tailoring, Rusin argues that this cooling down period has allowed for market recalibration and more attractive pricing. “In our global environment, capital is agnostic, and while Africa and Kenya’s property sector have been recalibrating, several investors, private and institutional are of the view that certain markets and asset classes provide attractive and stable yields. Next year is shaping up to be a defining year for Kenya’s real estate market, and we believe that EAPI will provide the transaction fulcrum for investors and developers across the real estate ecosystem,” said Rusin.
By Adedapo Adesanya
The Senate has passed a bill to repeal and re-enact the law establishing the National Insurance Commission (NAICOM), paving the way for the regulatory agency to be renamed the Insurance Regulatory Commission (IRC).
The legislation, titled the Insurance Regulatory Commission (Establishment) Bill, 2026, was passed after the Senate considered and adopted the report of its committee on banking, insurance and other financial institutions.
The Chairman of the committee, Mr Adetokunbo Abiru, the senator representing Lagos East, who presented the report, stated that the proposed legislation was necessary because the existing National Insurance Commission Act of 1997 had become outdated and no longer reflected the realities of Nigeria’s evolving insurance industry or global regulatory standards.
According to the Senate, the decision to change the Commission’s name was informed by the need to eliminate confusion associated with the existing designation and to better reflect the institution’s regulatory mandate within Nigeria’s insurance industry.
The bill also provides legal protection for the commission and its officers against adverse claims arising from the lawful execution of their statutory duties.
However, he noted that the commission’s enabling law had become obsolete, exposing significant regulatory gaps that required urgent legislative intervention.
‘The current National Insurance Commission Act 1997 is outdated and does not adequately address the emerging economic growth, needs and development of the insurance business,” the lawmaker said.
He explained that the new legislation seeks to strengthen the independence of the commission by empowering it to make regulatory decisions without undue influence in the country’s insurance sector.
According to him, the bill also enhances the commission’s authority to exchange information and collaborate with domestic and international regulatory bodies, issue regulations, guidelines, standards and directives on insurance-related matters, and intervene more effectively in financially distressed insurance companies to protect policyholders and preserve financial stability.
This marks yet another move to strengthen the country’s insurance sector following the enactment of the Nigerian Insurance Industry Reform Act (NIIRA) of 2025 and the industry-wide recapitalisation exercise, which will wrap up by July 31.
By Adedapo Adesanya
About 143 companies that successfully passed the technical and prequalification stages of the Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC) 2025 Licensing Round will, today, compete for 50 oil and gas blocks at the commercial bid conference in Abuja, the final stage in the allocation process for the assets.
The commission said only the prequalified companies have been invited to attend the event, which will hold at the Conference Centre of the Transcorp Hilton Hotel, Abuja, stressing that participation is strictly by invitation.
The commercial bid conference will determine the successful bidders for oil and gas assets located across Nigeria’s producing and frontier basins.
The 50 blocks comprise 16 onshore blocks and 18 shallow water blocks in the Niger Delta, one deep offshore block, three onshore blocks in the Benin Basin, four in the Anambra Basin, four in the Chad Basin, and four in the Benue Trough.
According to the commission, the winning bids will be determined through a transparent evaluation process based on clearly defined commercial parameters. These include the signature bonus offered by bidders, the proposed work programme commitment and the level of performance security provided. The final selection will be based on a weighted technical and commercial score.
The licensing round is being conducted under the provisions of the Petroleum Industry Act (PIA) 2021, which requires a transparent and competitive process for the award of petroleum assets.
NUPRC had announced the commencement of the 2025 Licensing Round on November 11, 2025, before opening the online bid portal on December 1, 2025, to enable interested companies to register and participate in the exercise.
To ensure prospective investors fully understood the requirements, the commission organised a pre-bid conference on January 14, 2026, at Eko Hotels and Suites, Lagos. The event provided detailed explanations on the licensing guidelines and bidding procedures to registered participants and other stakeholders.
Registration and submission of prequalification documents closed on February 27, 2026, while the prequalification evaluation was completed on March 16, 2026.
NUPRC disclosed that 286 companies initially submitted applications for prequalification.
Following the evaluation process, 196 companies were cleared to participate in the technical and commercial bid stages.
The prequalified 143 companies eventually submitted a total of 200 bids for the available oil and gas blocks. These companies are now set to compete at the commercial bid conference, where the financial offers will be opened and evaluated to determine the eventual winners.
The licensing round is expected to attract fresh investment into Nigeria’s upstream petroleum sector, boost exploration activities across both producing and frontier basins, increase crude oil and gas reserves, and support the country’s drive to grow production and government revenue.
It also underscores the regulator’s commitment to implementing a transparent, competitive and investor-friendly licensing regime under the Petroleum Industry Act.
By Adedapo Adesanya
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained all key monetary policy parameters following the conclusion of its two-day meeting on July 21, 2026, on Tuesday, maintaining its tight monetary policy stance to curb inflation and support macroeconomic stability.
According to the Governor of the apex bank, Mr Yemi Cardoso, who chaired the committee, the Monetary Policy Rate (MPR), which serves as the benchmark interest rate, remains at 26.50 per cent. The MPC also retained the asymmetric corridor around the MPR at +50 basis points and -450 basis points.
In addition, the Cash Reserve Ratio (CRR) for commercial banks was left unchanged at 45.00 per cent, while the CRR for merchant banks remains at 16.00 per cent. The committee also retained the CRR on non-Treasury Single Account (Non-TSA) public sector deposits at 75.00 per cent, with the liquidity ratio at 30.00 per cent.
The decision reflects the apex bank’s continued commitment to containing inflationary pressures through a restrictive monetary policy while safeguarding the resilience of Nigeria’s financial system amid ongoing macroeconomic adjustments.
By keeping all policy tools unchanged, the MPC signalled its intention to continue managing excess liquidity in the banking sector and maintain stability in financial markets.
The move is also expected to provide greater policy certainty for investors and businesses monitoring the country’s monetary policy direction.
The latest decision also means borrowing costs are likely to remain elevated in the near term as the central bank continues to prioritise price stability over monetary easing.
Analysts had expected the CBN committee to retain the rate after Nigeria’s headline inflation came in at 15.91 per cent as of June 2026, marking a slight decline from 15.93 per cent in May.
However, even as overall price growth has moderated significantly compared to previous periods, food inflation remains a persistent challenge, accelerating to 17.52 per cent in June.
