A number of prime office space landlords in Nairobi are now setting rent prices in dollars, joining a growing number of businesses that are pegging daily sales prices on the movement of the greenback in a bid to cushion themselves against forex losses triggered by the weakening shilling.
The emerging preference for dollar payments in real estate points to the increased dollarisation of the economy, with the shilling weakening against the dollar by nine percent over the past 12 months.
