N e w s

Zanzibar signs an agreement to build roads worth Sh537.8 billion

Roads of 103.5 kilometres will be built on the islands of Unguja and Pemba. The Zanzibar government has signed a road development contract with Propav, a UK business, in collaboration with Mwananchi Engineering and Construction Ltd, a Tanzanian company (MECCO). The contract calls for the construction of three highways totaling 103.5 kilometres on Unguja and Pemba Islands. On September 20, 2022, the signing ceremony took place at the.... Read more »

Posted on : Monday , 28th November 2022

UK Invests $4 Billion In Kenya To Support Climate Action

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 Kenya Port Authority wants to improve Trade with Modern Infrastructure Plans

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

Tanzania's rating improves as a result of the government's efforts to improve the investment climate.

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

Midroc Ethiopia's Next Business Venture: A 1 billion USD residential town project

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

Tanzania's Dodoma Stadium, the largest stadium in Africa

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

UK firm to develop Kigali green city master plan

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 Maritime Authority, the Free Trade Zone would offer effective services and attract investors

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

The Nairobi-Mombasa Expressway Project in Kenya, a 525 km four-lane toll road

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

The Nairobi-Nakuru-Mau Crest Highway Project receives approval from the African Development Bank for 150 million USD

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

Rwanda Prepares for Construction of Muvumba Multipurpose Dam and Power Plant

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

East African countries are involved in a USD 8 billion investment agreement.

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



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