The Africa Investment Promotion Commission has said not less than forty intending investors have besieged the Commission for guide about investing in the African economy in the last one month.   The Executive Secretary of the Commission, Mrs Uju Aisha Hassan Baba disclosed this while responding to questions on the impact of security on foreign direct investment in the country as she played host to investment delegation from Thailand.... Read more »

Posted on : Friday , 10th July 2015

The World Bank Group has set aside $100 million to help Tanzania increase transparency and accountability in governance and boost public financial management as the country ramps up a series of major infrastructure projects. The bank said the “first-of-a-kind” ‘open government and public financial management development policy operation (OGPFM) in Tanzania, financed with credit from the bank’s International Development.... Read more »

Posted on : Friday , 10th July 2015

Dar es Salaam. The World Bank, which is one of the financiers for a $596 million (about Sh1.1 trillion) Dar es Salaam Port upgrade, said at the weekend that it is impressed by the ongoing improvements. The World Bank is cooperating with the UK’s Department for International Development and TradeMark East Africa (TMEA) to inject a total of $596 million in the project of deepening and strengthening of berths 1-7, the dredging of the.... Read more »

Posted on : Friday , 10th July 2015

 Over the past two decades the average investment in infrastructure as a percentage of GDP has hovered around 5 per cent, a much lower ration when compared to growing economies such as China that invest about 9 per cent of their GDP in infrastructure development. This lower ratio is an indication that more investment in this sector is still needed and indeed so it is not surprising that Namibia has not achieved the 7 per cent average growth.... Read more »

Posted on : Thursday , 9th July 2015

Kenya set in motion the construction of Africa’s biggest wind power farm this week, near Laisamis, 550km north of Kenya’s capital Nairobi. Known as the Lake Turkana Wind Power Project, the wind farm site covers 40,000 acres (162km2), which will be powered by the ‘Turkana Corridorwind.’ It is a low-level jet stream originating from the Indian Ocean and blows all year round. The project will consist of 365 turbines.... Read more »

Posted on : Tuesday , 7th July 2015

 APR Energy is set to provide a gas turbine power plant for an industrial customer in Egypt after landing a €27 Million contract. The leading world Mobile power supplier signed the deal early this week after a competitive tender that attracted many companies to provide a gas turbine power plant for an industrial customer in Egypt. The project, which is for a minimum of 12 months, has an estimated value exceeding US$30 million.... Read more »

Posted on : Tuesday , 7th July 2015

Tigoni — Residents of Tigoni in Kiambu County are set to benefit from a hospital upgrade by the county government. The Sh160 million 200-bed capacity hospital to be constructed at the Tigoni Health Centre will benefit residents who have had to grapple with congestion in the wards especially accident victims. Kiambu Governor William Kabogo has reiterated his government's commitment to better health service delivery. "My government.... Read more »

Posted on : Monday , 6th July 2015

Unlike other middle class estates that are slowly experiencing an influx of residents, Mamboleo is relatively more secure and tranquil. "Actually, a majority of professionals in Kisumu now find the Mamboleo/ Kajulu hills a perfect destination of choice owing to encroachment of Milimani and Tom Mboya estates by offices, hotels and guest houses," she said. Lake Basin commission managing director Kabok Aguko says the shopping.... Read more »

Posted on : Monday , 6th July 2015

 Kenya’s road network expanded by 16 per cent in 2014 and the first 40 km of the new Mombasa-Nairobi standard gauge railway project has also been completed According to Central Bank of Kenya’s Economic Survey 2015, total number of paved roads reached 13,000 km last year, up from 11,230 km in 2013. This is a result of the government increasing access to rural areas as a part of its annuity plan, under which at least 10,000 km of.... Read more »

Posted on : Monday , 6th July 2015

The Government of Tanzania announced that is currently evaluating a considerable reduction on the Value Added Tax (VAT) on houses in order to boost the investment in real estate in Tanzania and raise living standards. tanzania-vat-real-estateThe reduction on the VAT is aimed at helping low income families to purchase a property from the National Housing Corporation (NHC) which this year started the construction of 139 affordable houses, part of.... Read more »

Posted on : Monday , 6th July 2015

 Spring Lights Gas (SLG) which is one of the largest Piped gas suppliers for KwaZulu Natal Industry is set to commission a new compressed natural gas (CNG) Plant in Southern Durban before the end of this year.   The CEO of Spring Light Gas, Nkosinathi Solomon noted recently that construction work on the plant had already begun but hesitated to give the exact cost of the whole construction process.   The new SLG facility will.... Read more »

Posted on : Saturday , 4th July 2015

 A US$ 70m iron sheet factory has been inaugurated in Kiambu County, Kenya by Devki Group. The new factory is projected to be able to produce 300,000 tonnes of iron sheets in Kenya annually.   The development which is under the group’s affiliate, Maisha Mabati Mills Ltd, is the largest of its kind in Africa set to produce long lasting roofing sheets coated with aluminium and zinc.   “This mill, which is the largest.... Read more »

Posted on : Friday , 3rd July 2015