Market News

Investment worth US$5bn was approved for three provinces in Mozambique. It was noted that the approved investments will help the North of Mozambique undertake several projects in agriculture, forestry, infrastructure, tourism, and hydrocarbon sector. The projects are aimed at creating opportunities . . .

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 . . .

 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 Ethiopi . . .

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 t . . .

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. . . .