The private sector in Tanzania has a received a US$185m grant from the World Bank. The funds were released by the Multilateral Investment Guarantee Agency (MIGA).   The aim of the funds is to help in projects in infrastructure, mining and energy sectors. MIGA Vice President and Chief Operating Officer, Michael Wormser said that MIGA is looking for ways to partner with government to ensure creation of jobs and improve infrastructure. The.... Read more »

Posted on : Thursday , 11th September 2014

The African Development Bank (AfDB) has given Kenya a loan worth US$ 110.54b to construct Mombasa–Bujumbura highway that will link Kenya and Rwanda.   Branching off the Northern Corridor at Voi, the Mombasa–Bujumbura highway will stretch 1550 kilometers. The road will also connect the Central Corridor to Tanzania at Moshi. It will also cross Arusha and Singida, on its way to Bujumbura.   The highway will be shorter than.... Read more »

Posted on : Thursday , 11th September 2014

 A total of USD 48.24 will be used in the first phase construction of houses in Tanzania to provide shelter for public servants. The real estate project will be funded by the government of Tanzania. The construction of the houses will be done in collaboration with a real estate developer, Watumishi Housing Company (WHC). WHC also manages overseas real estate investment as a fund management company through the Real Estate Investment Trusts.... Read more »

Posted on : Tuesday , 9th September 2014

 Growing volumes of cargo at all African ports has forced port authorities and operators to increase capacity, analyse operations to increase efficiency, and employ measures to allow bigger ships into their ports. The East Africa Region has various projects underway. The new Lamu Port in Kenya costing $5.3 billion (Reuters.com) and the Bagamoyo port in Tanzania costing $11 billion (The East African) are examples of countries preparing for.... Read more »

Posted on : Tuesday , 9th September 2014

 Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries.   Dubbed the Grand Ethiopian Renaissance Dam, it will be Africa's biggest dam and will depend on water from the 6,700-km Nile River, the world's longest river.   But.... Read more »

Posted on : Saturday , 6th September 2014

Acorn Group Africa, a real estate firm in Kenya is going to inject US$455m into a real estate project that will see the firm construct shopping malls, commercial offices, residential properties and commercial hotels in Nairobi, Lukenya and Kitengela. The project is expected to commence in October this year with funds sourced through equity and bank loans. The firm aims to meet the growing demand for retail and residential property by both the.... Read more »

Posted on : Saturday , 6th September 2014

Hyatt Hotels Corporation has entered into a partnership with ASB (Tanzania) Limited that will see the later construct a new 300-room five star hotel. The new hotel will be called Hyatt Regency Hotel Arusha. The building permit was awarded to ASB on May 7th this year. Located at the heart of Arusha, the 300-room five-star hotel will be in close proximity to some of Africa’s most famous natural landscapes and national parks,.... Read more »

Posted on : Saturday , 6th September 2014

Tetra Tech Inc will oversee development of phase 1 of Konza city following the signing of a contract between them and Konza Technopolis Development Authority (KoTDA). Colorado-based Tetra Tech was selected as the Master Delivery Partner 2 (MDP2) in the Kenya’s smart city construction project. Other partners in the MDP2 consortium are 11 firms from Netherlands, UAE, US, Germany and five firms hail from Kenya. According to the Vice.... Read more »

Posted on : Saturday , 6th September 2014

Businessman Naushad Merali has made plans to construct a US$23m office block in Westlands, Nairobi. Rivaan centre is conveniently located just off Waiyaki way and Brookside drive. Located on the periphery of Westlands, it is minutes away from the CBD and Gigiri and is in the heart of Nairobi’s upcoming and affluent residential and retail neighborhoods. The new office development will be constructed on Muguga Green, off Brookside Drive..... Read more »

Posted on : Saturday , 6th September 2014

A total of USD 48.24 will be used in the first phase construction of houses in Tanzania to provide shelter for public servants. The real estate project will be funded by the government of Tanzania. The construction of the houses will be done in collaboration with a real estate developer, Watumishi Housing Company (WHC). WHC also manages overseas real estate investment as a fund management company through the Real Estate Investment Trusts.... Read more »

Posted on : Saturday , 6th September 2014

Qatar is seeking to enter into the Kenya real estate market. A delegation of Qatari Businessmen Association (QBA) has already visited the Kenya’s Minister of Foreign Affairs and International Trade, Amina Mohamed in a bid to improve ties between the two countries.   The Minister has stated that the visit would open more business opportunities for Qatar. The delegation visiting the minister was led by Dr.Khalid Bin Thani. Kenyan.... Read more »

Posted on : Saturday , 6th September 2014

Construction of the Juba-Bor road has started after the signing of an agreement between the Jonglei state government and UNMISS. UNMISS is a Korean contingent of engineers who work for United Nations’ peacekeeping mission in the country.   The contract, signed a week ago, will see UNMISS improve the Juba-Bor road. This road has been tempering with transportation of goods from South Sudan capital, Juba to bor.   Construction.... Read more »

Posted on : Saturday , 6th September 2014