The Lagos State Government has moved to regulate real estate practice in the state and inaugurated a 16-man Technical Committee on Real Estate Regulation to facilitate the restoration of investors’ and public confidence in the Lagos State real estate sector.
The committee’s mandate is to design a policy and fiscal framework to institute and promote global best practices in the sector.
This disclosure was made by the Special Adviser on Housing to the Lagos State Governor, Mrs Toke Benson-Awoyinka
At the inaugural meeting of members of the Committee, Mrs Toke Benson-Awoyinka said that one of the lessons from the outbreak of Covid-19 was the need to create and develop a robust housing policy with stakeholder involvement and engagement, as well as curtail malpractices in the real estate sector, while also improving financial transparency and fiscal responsibility.
What the Special Adviser to the Lagos State Governor is saying
The Special Adviser said that the Committee has the mandate of addressing the challenges in the sector with particular attention to reforming the Home Ownership Model to increase housing stock and reduce the deficit.
She said, “To achieve this, the Committee will be required to set up a comprehensive system and framework, which will prioritise the development of a fiscal responsibility and transparency model, to promote the inflow of local and international funding required to confront the housing deficit, among others.
The Committee will set up a governance structure that will oversee the entire real estate framework and stakeholder engagement in the State to minimise trust deficiency. The structure will cater to the entire system of the real estate process and will incorporate participation from Private Developers, Financial Institutions and, of course, the State Government in a Public-Private Partnership model.’’
Mrs Benson-Awoyinka informed that in order to further boost confidence and safeguard investment in the State, the Committee will be responsible for the centralisation of insurance management for all real estate assets, which will dovetail into the existing Lagos State Risk Management framework.
While speaking at the event, the Lagos State Commissioner for Finance, Dr Rabiu Olowo, who is also a member of the Committee from the government side, said that beyond building roads and bridges, the promotion of policy formulation for ease of doing business is also important to address the challenges confronting the State.
He maintained that the Real Estate sector has not done optimally well, considering the huge potentials in the sector and its contribution to the nation’s Gross Domestic Product (GDP).
Dr Olowo also implored all stakeholders to work closely as a team in transforming the Real Estate Sector, particularly in Lagos State, to become one of the best real estate sectors across the globe.
Making his own contribution at the event, the Attorney-General and Commissioner for Justice, Mr Moyosore Onigbanjo, urged the Committee members to see the task ahead of them as efforts towards revamping the entire real estate practice in the country, through Lagos State.
He pledged that with the partnership of key stakeholders and industry players in the real estate sector, members of the Committee will be able to provide the right regulatory framework for real estate transactions to thrive and give confidence to investors in Lagos State.
LASG INAUGURATES TECHNICAL COMMITTEE ON REAL ESTATE REGULATION
… Promises to restore public confidence in the sector@jidesanwoolu @drobafemihamzat @lasrera @housing_LASG @LagosMoj @DrRabiuOlowo @gbenga_omo#LASG #ForAGreaterLagos
Read More.. https://t.co/vnjFq4FrWU pic.twitter.com/FHRwgQSAKE
— The Lagos State Govt (@followlasg) May 28, 2021
KQ resumes Mumbai flights after 4 months
- Kenya Airways will on Thursday resume flights to Mumbai, ending a four-month hiatus that was occasioned by increased cases of Covid-19 in the Asian state.
- The airline in a notice to its customers yesterday said it will resume its operations on the route on September 16, 2021 with the first flight departing Jomo Kenyatta International Airport at 7am to arrive in Mumbai at 3:45 pm.
Kenya Airways #ticker:KQ will on Thursday resume flights to Mumbai, ending a four-month hiatus that was occasioned by increased cases of Covid-19 in the Asian state.
The airline in a notice to its customers Monday said it will resume its operations on the route on September 16, 2021 with the first flight departing Jomo Kenyatta International Airport at 7am to arrive in Mumbai at 3:45 pm.
The airline will then resume full operations on the route on September 20, flying three times per week on the Indian route, which is one of the most lucrative destinations on its network.
Passengers on the route will part with Sh46,000 ($419) for one-way air ticket on economy class seats from Nairobi to Mumbai- prices that are relatively the same compared to what it was charging before the Covid-19 pandemic.
“Welcome back onboard! Fly from Nairobi to Mumbai starting Thursday 16th September with normal schedules resuming from Monday 20th September 2021,” said the airline in a notice to its customers yesterday.
KQ Suspended passenger flights to and from Mumbai on April 30 until further notice, following a government directive on travel between India and Kenya due to a Covid-19 crisis in that country.
The airline said on Friday that passengers who had booked tickets after May 1, the date of the last flight from Mumbai to Nairobi, will have to change their plans.
Affected passengers, KQ said, could also take vouchers for the value of their fare for future travel within 12 months.
India has seen soaring infection rates in the recent days, since the discovery of a new virus variant. Last month, India put on lockdown one of the states following a spike in cases of Covid-19.
Other countries that have banned flights to India include France, the UK Bangladesh, Oman and Hong Kong that have banned travel to and from India or asked their nationals coming from the Asian country to isolate themselves in government-approved hotels.
India has so far detected 33,264,175 corona virus cases with the number of deaths hitting 442,874 as at September 13.
A large number of patients from Kenya also travel to India every year for specialised medical treatment, especially cancer care, helping to drive medical tourism in the densely populated country that boasts affordable and easily accessible healthcare.
Lower import volumes push mitumba prices to new highs
- Traders paid Sh100,527 on average per tonne of the used clothes, popularly called mitumba, compared to Sh96,286 the previous year.
- Kenya Bureau of Standards (Kebs) banned importation of the clothes from late March through mid-August in a bid to contain the spread of the life-threatening coronavirus infections.
- Findings of the Economic Survey 2021 suggests dealers shipped in 121,778 tonnes of mitumba in 2020, a 34.02 percent fall compared with 2019 and the lowest volumes since 2015.
The average price of a tonne of second-hand clothing items imported into the country crossed the Sh100,000 mark for the first time last year on reduced volumes in the wake of safety protocols and guidelines to curb spread of coronavirus.
Traders paid Sh100,527 on average per tonne of the used clothes, popularly called mitumba, compared to Sh96,286 the previous year.
Kenya Bureau of Standards (Kebs) banned importation of the clothes from late March through mid-August in a bid to contain the spread of the life-threatening coronavirus infections.
Findings of the Economic Survey 2021 suggests dealers shipped in 121,778 tonnes of mitumba in 2020, a 34.02 percent fall compared with 2019 and the lowest volumes since 2015.
Last year’s drop was the first dip since 2011 when 76,533 tonnes were shipped in compared with 80,423 tonnes the previous year, the official data collated by the Kenya National Bureau of Statistics (KNBS) shows.
The import bill for the merchandise amounted to Sh12.24 billion, a drop of 31.11 percent, or Sh5.53 billion, year-on-year.
TIn imposing the temporary ban on used clothes, Kebs had applied a standard which prohibits buying second-hand clothes from countries experiencing epidemics to ensure disease-causing microorganisms are not imported into Kenya.
Higher quality and relatively lower prices for mitumba has continued to drive demand for used clothes at expense of locally-made products amid higher margins enjoyed by traders largely operating in informal markets.
The lucrative second-hand clothing market has seen traders from China —a key source market for the merchandise —open shops in Gikomba, Kenya’s largest informal market for mitumba, in recent years to cash in rising demand.
Earnings from exports of articles of apparel and clothing accessories fell 5.32 percent to Sh32.92 billion last year compared with 2019, data indicates.
Court backs Atwoli union in horticulture membership feud
- A trade union that is led by the long-serving Central Organisation of Trade Unions (Cotu) boss Francis Atwoli has survived an attempt to stop it from representing over 60,000 workers in the horticulture industry.
- Newly registered Kenya Export, Floriculture, Horticulture, and Allied Workers Union (Kefhau) had filed as a case in the Employment and Labour seeking to bar the Atwoli-led Kenya Plantation and Agricultural Workers Union (KPAWU) from representing workers in the industry.
A trade union that is led by the long-serving Central Organisation of Trade Unions (Cotu) boss Francis Atwoli has survived an attempt to stop it from representing over 60,000 workers in the horticulture industry.
Newly registered Kenya Export, Floriculture, Horticulture, and Allied Workers Union (Kefhau) had filed as a case in the Employment and Labour seeking to bar the Atwoli-led Kenya Plantation and Agricultural Workers Union (KPAWU) from representing workers in the industry.
Mr Atwoli is the secretary-general of KPAWU. The rival union claimed KPAWU had encroached on its area of workers’ representation.
Justice James Rika, however, dismissed the claim and ruled that the dispute should have been taken through conciliation, and was therefore presented in court prematurely.
He also stated that Kefhau must go beyond its registration and recruit sufficient members from the employers, to be granted recognition and organisational rights.
“Registration on its own, does not afford the claimant (Kefhau) recognition. Until there is proof that Kefhau has satisfied Section 54 of the Labour Relations Act, the status quo must be maintained,” said the judge.
“Kefhau must recruit at least 50 percent plus one, of the unionisable employees in the floriculture and horticulture industry, members of the Agricultural Employers Association to be considered for recognition,” he stated.
He noted that there is a Recognition Agreement and CBA, binding Mr Atwoli’s union and Agricultural Employers Association, affecting 73 Flower Growers Group of employers, and over 60,000 employees.
“It is objectionable for Kefhau to be allowed organisational rights, and the legitimacy to receive trade union dues and agency fees, from over 60,000 employees, just on the strength of registration as a trade union,” said the judge.
Kefhau wanted the court to declare that it is the sole trade union, which is allowed by its constitution to carry out activities in the export floriculture and vegetable industry, and an order restraining Mr Atwoli’s from representing workers in that area.