Egyptian investment firm Qalaa Holdings has confirmed that it is talking to several local and international investors as it seeks to sell its stake in Rift Valley Railways.   The Business Daily on Wednesday reported that a consortium of local firms has made a $133 million bid to buy an 80 per cent interest in the Kenya-Uganda railway from the Cairo-based firm.   "Qalaa Holdings... confirms that preliminary discussions are.... Read more »

Posted on : Monday , 9th January 2017

Nairobi is on the global watchlist of top five fast modernising cities that are attracting new global business on growing realisation that big companies cannot operate from one sub-Saharan location in South Africa.   The city is also taking off as a hub for global corporations looking to establish an office to cover the East African region, according to Global Cities - The 2016 Report by Knight Frank.   Big companies with global.... Read more »

Posted on : Friday , 6th January 2017

The Amhara State collected over 15.4 million Birr for the Grand Ethiopian Renaissance Dam (GERD) construction over the last five months.   Expert with GERD Public Support Mobilization and Coordination Secretariat Gizachew Gidey said the money was raised by civil servants, farmers, and the private sector through bond sales and grants.   Planning to collect over 3 billion Birr, the state secured over one billion so.... Read more »

Posted on : Friday , 6th January 2017

Dar Es Salam — The government has been urged to introduce the Building Code system as a solution for the haphazard and unlawful real estate development in Tanzania.   The coding system was designed by the Architects Association of Tanzania (AAT) and handed over to the government in 2003.   This follows complaints from residents of major urban centres against violation of laws guiding real estate development, risking health,.... Read more »

Posted on : Friday , 6th January 2017

Kampala — The African Development Bank (ADB) board of directors has approved the institution's borrowing programme for 2017, for an amount of $8.4 billion (Shsh30.4 trillion).   The money will be raised from capital markets in African countries by issuing bonds in local currency to finance development projects.   Due to existing large infrastructure deficits, African governments are in need of funds to finance various.... Read more »

Posted on : Thursday , 5th January 2017

Nairobi — The Sh2.4 billion ultra-modern national library complex on Ngong road, Nairobi is set to be opened in 2017, with 65 percent of the works completed on the 5 storey building.   Vision 2030 Delivery Secretariat, Director General, Dr. Julius Muia, says the library will offer a comprehensive national reference service to all sectors of the economy and contribute to literacy development and research.   With a sitting.... Read more »

Posted on : Thursday , 5th January 2017

Officials from the firm hired to supervise works on the expansion of Kigali city roads have committed to finish in time to avoid prolonged inconveniences to road users and also ensure quality work.   The roads expansion project is set to cover about 54 kilometres, mainly targeting expanding roads to a dual carriage way with two lanes on each side.   Chinese firm, China Road Bridge Corporation, has been contracted to do the.... Read more »

Posted on : Thursday , 5th January 2017

Ethiopia officially began its two-year term as a non-permanent member of the United Nations Security Council (UNSC) January 02, 2017.   The new UN Secretary-General Antonio Guterres also began his duties as the 9th Secretary-General the same day and he did so with a strong appeal for peace in 2017.   Ethiopia together with other members of the Council would do everything it can to respond to Guterres' appeal for peace and.... Read more »

Posted on : Thursday , 5th January 2017

The construction sector plays a pivotal role in accelerating economic growth. Its roles in the expansion of infrastructural facilities such as roads, schools, hospitals, residential houses, among others, can be mentioned.   The growth of infrastructural facilitate by itself is part of development. As a stimulant for growth, it creates an up and downward linkages so as to create value chains. It generates job opportunities for hundreds of.... Read more »

Posted on : Wednesday , 4th January 2017

The decision by government to shelve plans to contract private firms to carry-out pre-shipment inspection for goods destined to Rwanda has raised concern from the business community, especially importers. The exercise was previously being conducted by Société Générale de Surveillance (SGS) a Switzerland-based firm under the Imports Products Conformity Assessment to Standards (IPCA) scheme from mid-2014 till the.... Read more »

Posted on : Tuesday , 3rd January 2017

This will be the year of the railway - perhaps mimicking 1899, when the current railway reached Nairobi.   By then, the railway was Colonial Kenya's most expensive project. Today, the new standard gauge railway is still the country's most expensive infrastructural project.   A historical transport masterpiece in the region, SGR has encountered numerous challenges like her predecessor, the metre gauge line that is more than a.... Read more »

Posted on : Tuesday , 3rd January 2017

A new World Bank funded project promises improved living conditions for refugees camped across five states in Ethiopia.   The Bank offered 100 million USD to implement "Development Response to Displacement Impact Project (DRDIP) in the Horn of Africa."   Speaking at project launching event in Semera, Afar State, Livestock and Fisheries Minister Dr. Misrak Mekonnen said the projects are believed to increase the benefit of.... Read more »

Posted on : Tuesday , 3rd January 2017