The Government of Rwanda is planning to borrow US$1bn to fund various infrastructure projects in the country next year. The most pressing of the development projects on line is the construction of Bugesera International Airport and power plants. The government was forced to borrow from the international community after foreign investors failed to fund key projects in the country. The airport will be located in southeastern Rwanda,.... Read more »

Posted on : Wednesday , 13th August 2014

 Nairobi — Kenyan President Uhuru Kenyatta on Friday signed a 480 million U.S. dollar agreement with a Chinese firm for the construction of the first three berths of Lamu Port in the coastal region.     The deal for the three berths under the Lamu Port - South Sudan - Ethiopia Transport Corridor Project (LAPSSET) Corridor Program was signed with China Communications Construction Company Ltd.     Kenyatta said.... Read more »

Posted on : Monday , 11th August 2014

City Hall Nairobi has announced a tender notice for the construction of a 3000 multi-storey car park in Nairobi’s Central Business District (CBD). The project involves developing an AT Sunken Car Park building at a cost of US$45.5m. The project will be undertaken through a public private partnership where the Government of Nairobi County is expected to provide the land for the project, while investors will provide the funds.... Read more »

Posted on : Monday , 11th August 2014

 Newly-listed Freedom Property Fund today announced it has launched several major projects, including two residential property developments, which will boost its portfolio of income-generating rental stock. It is also unlocking capital by releasing residential properties for strategic sale to the market.   Following Freedom’s successful listing on the JSE Main Board on 12 June 2014, it has commenced and progressed several.... Read more »

Posted on : Monday , 11th August 2014

 China Road and Bridge Corporation will bring in 5,000 workers to work on the standard gauge railway, Kenya Railways MD has said.     The works on the 609km railway is expected to kick off in September after a frosty start that was marred with claims of corruption. Parliament gave the project a clean bill of health.     "The contractor will bring in the workers and get additional ones locally. We have also.... Read more »

Posted on : Friday , 8th August 2014

UCHUMI Commercial Bank (UCB) Ltd in Kilimanjaro Region has registered a 14.3 per cent profit rise as it targets to raise its capital from 2.5bn/- to 7bn/- by 2017. Speaking at the bank’s annual general meeting during the weekend, Chairman of Board of Directors, Mr Wilson Ndesanjo said that the level of capital will ensure availability of sufficient liquidity for effective lending, cater for expansion of services, meet regulatory.... Read more »

Posted on : Tuesday , 29th July 2014

President Uhuru Kenyatta commissioned construction works of the crucial road that traverses across the vast county and which has been ignored since independence. Local leaders lauded President Kenyatta saying the tarmacking of the road will not only spur growth in the county but ease transportation of people and goods between Kenya and Tanzania in the spirit of the East African Cooperation. The 110 km road links Tanzania and Kenya through.... Read more »

Posted on : Monday , 28th July 2014

Construction of a railway line to connect Mtwara Port in Mtwara Region and Mbamba Bay in Ruvuma Region to ease haulage of heavy cargo along the Mtwara Corridor in southern Tanzania is in the offing, President Jakaya Kikwete has announced. Addressing a mammoth crowd at a public rally, the president said the government has found it ideal to construct the railway network to unlock the corridor to the rest of the country and the.... Read more »

Posted on : Monday , 28th July 2014