The UK government has agreed to invest US$4 billion (KES 500 billion) in Kenya to support the country's efforts to combat climate change.The UK Prime Minister Rishi Sunak met with Kenyan President William Ruto at COP27, agreeing a five-year investment deal that will see climate finance flow into the African country.These new, clean and green investments will become flagship projects of the UK-Kenya Strategic Partnership.The projects include: new.... Read more »

Posted on : Monday , 21st November 2022

The East African regional economies' growth will be sped up by the Japanese International Cooperation Agency's (JICA) commitment to continue helping the Kenya Ports Authority (KPA) upgrade port facilities.   JICA has been a staunch ally of KPA and provided funding for the development of the second container terminal at the Port of Mombasa, which cost Sh32 billion. The second container terminal at the busy port of Mombasa, which is.... Read more »

Posted on : Wednesday , 26th October 2022

Earlier in October, Moody's Investors Service upgraded the Government of Tanzania's outlook from stable to positive and reaffirmed the B2 long-term issuer ratings in both foreign and domestic currencies. According to the rating agency's statement, Tanzania's political risks have decreased as a result of President Samia Suluhu Hassan's administration's new strategy for promoting economic growth and engagement with the international.... Read more »

Posted on : Wednesday , 26th October 2022

The Mahmadya Residential Village Project by MIDROC Ethiopia is anticipated to be the country's largest exclusively private real estate project. The largest company in Ethiopia and a division of Midroc International, Midroc Ethiopia, is starting a new operation in the country's real estate sector. The company said last week that it has started a 50 billion birr (USD 1 billion) housing village development project in the Ethiopian capital.... Read more »

Posted on : Monday , 26th September 2022

Pauline Gekul, the deputy minister for culture, arts, and sports, revealed that the government was ready to begin construction of the proposed Dodoma Stadium. Gekul made the revelation while responding to a question from Innocent Kalogeris, the MP for Morogoro South, in Dodoma.   The Deputy Minister stated that currently, the government is looking for funding for the projects and that soon construction will begin. According to Gekul,.... Read more »

Posted on : Wednesday , 21st September 2022

Feilden Clegg Bradley Studios (FCBStudios), a British architectural design firm, has been selected to develop the green city Kigali master plan and detailed designs for the pilot phase.Established in 1978, with offices in Bath, London, Manchester, Belfast and Edinburgh, the firm is known for its pioneering work in sustainable design and social design agenda.The selection was done in partnership with the Royal Institute of British Architects.... Read more »

Posted on : Wednesday , 24th August 2022

According to the Ethiopian Maritime Authority, modern and appropriate services would be offered in the Dire Dawa Free Commerce Zone to enhance import-export trade and attract investment. Ethiopia's first free trade zone, which was recently established, is anticipated to speed up industrialisation and the economy while cutting costs and lengthening the time required for logistical operations. Ewnetu Taye, the authority's deputy director.... Read more »

Posted on : Wednesday , 24th August 2022

Korean Overseas Infrastructure and Urban Development Corporation Africa has been given the job of building the Nairobi-Mombasa Expressway in Kenya (KIND). Following the withdrawal of US contractor Bechtel Corp from the project, the East African nation selected KIND to build the 473-km road. The Kenyan government has already received a feasibility report for the project from the South Korean company. Furthermore, it has consented to proceed.... Read more »

Posted on : Tuesday , 23rd August 2022

As part of the First Mover Public-Private Partnership (PPP) initiative, the Board of Directors of the African Construction Bank Group today approved financing of 150 million USD for Kenya to assist a significant highway development project. The project will include building the A8 and A8 South freeways. The current 175 km of A8 road from Rironi to Mau Peak will be upgraded and maintained over a 30-year period, as will the 57.8 km of.... Read more »

Posted on : Friday , 29th July 2022

Plans for the construction of a proposed Muvumba multipurpose dam and power plant installation are gearing up. The Rwanda Water Resources Board is therefore looking to prequalify contractors for the implementation of the project.The task includes the construction of a high dam with a spillway, intake tower, diversion/outlet culvert, upstream cofferdam, and a hydropower plant on the Muvumba River. The river flows through Nyagatare District and is.... Read more »

Posted on : Monday , 11th July 2022

From agreements signed during the 2021 African Investment Forum, East African governments would collectively benefit from investments totaling at least USD 8.77 billion in transportation, healthcare, energy, and agriculture, among other areas. The African Development Bank (AfDB) organised the three-day conference in collaboration with other financial institutions including the Africa Export-Import (Afrexim) Bank and the African Finance.... Read more »

Posted on : Thursday , 23rd June 2022

According to Kenya Ports Authority, the second phase of the Sh32 billion Port of Mombasa's second container terminal, which began in September 2018, has been finished (KPA). The port authorities revealed the information after confirming that the project had been completed by the Japanese contractor, Tokyo Construction Company Limited. Representatives from Tokyo Construction Company met with KPA officials and checked the project's.... Read more »

Posted on : Wednesday , 22nd June 2022