Of empty malls and investors busy chasing their own tails

Shopping mall. Investment is the source of most of the boom and bust cycles that we experience in the economy. PHOTO | SALATON NJAU | NATION MEDIA GROUP

What you need to know:

  • In recent years, the business has gone on a huge real estate investment spree.
  • Economic growth does not necessarily translate into household incomes and consumption growth.

About two years ago, I was having a locker room conversation with a friend who had asked me what I thought of Nairobi’s shopping mall construction boom.

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