IMF Puts Kenya Growth At 5.6 Percent

 Kenya's economy will grow at 5.6% slower than earlier projected, but several major infrastructure projects will help to shore up its prospects.   'The economy is projected to continue to expand robustly, although at a slower-than-projected pace. Real GDP is projected to grow by 5.6 percent in 2015 driven by public infrastructure spending, buoyant credit growth, and strong consumer demand,' Vitaliy Kramarenko who recently led an International Monetary Fund team said in a.... Read more »

Posted on : Wednesday , 20th January 2016

CEOs Place Kenya Among Top Investment Places

 Global logistics executives have ranked Kenya among the top promising investment markets in Africa, after South Africa and Nigeria.   A report titled Agility Emerging Markets Logistics Index 2016 says a fast-growing middle class and the demand for mineral resources are important growth drivers in the country.   Others are new oil and gas finds, rapid infrastructure development, stronger agricultural demand and increased foreign direct investments.   While.... Read more »

Posted on : Wednesday , 20th January 2016

African Country banks on president Xi Jinping’s visit to boost infrastructure

 Egypt banks on president Xi Jinping’s visit later this month to boost its infrastructure network seen as a key driver of the economy. A number of agreements that will align the economic interests and development goals of China and Egypt are expected to be signed when Mr Jinping visits Cairo.   According to a statement from cabinet ministers the county is focusing more in area of electricity, transportation, construction, agriculture, industry, and.... Read more »

Posted on : Wednesday , 20th January 2016

OIL & GAS ARFRICA 2016 ramps up with bigger, better venue

Africa’s largest international trade exhibition for the Oil & Gas industry - OIL & GAS AFRICA 2016 returns this year with a much bigger event at a brand new, larger and conveniently located venue. From June 10 - 12, 2016, The Carnivore in Nairobi, Kenya, will see tens of thousands of buyers and visitors from across the world foster partnerships and collaborations in the rapidly expanding Industry. With as much as 11,000 sq.mts of exhibition space, the 5th.... Read more »

Posted on : Tuesday , 19th January 2016

Dangote to construct cement manufacturing plant in Africa

 Dangote Group now plans to construct a cement  manufacturing plant in Zimbabwe chief strategist, Dr Abdu Mukhtar,has said. He added that they now feel comfortable and are excited about venturing in Zimbabwe.   Dr Mukhtar said was satisfied with the preliminary work and was ready to roll out its projects.   He added that the group’s geologists, who set camp in the country on Wednesday, would remain on ground for site visits and collection of samples for.... Read more »

Posted on : Tuesday , 19th January 2016

Construction work on Konza technology city in Kenya to begin March

 The groundbreaking of the US$ 12m Konza Technology City in Kenya will finally begin in March this year months after stalling allowing the development of the mega project to kick off.   Konza Technology City Development Authority (KoTDA) CEO Eng John Tanui confirmed the reports and said that the first phase comprising of 21 parcels of land on 60 acres is ready for investment starting this year. “We will be doing the groundbreaking of the US$ 12m mixed use facility.... Read more »

Posted on : Tuesday , 19th January 2016

Bouyant Hardware Sector Awaits Taiwan Hardware Show's 16th return

Asia’s premium hardware event, the Taiwan Hardware Show (THS) will come back in high momentum this 12 to 14 October 2016 as promising market developments reign. Brought together for the 16th time by Taiwan’s leading trade fair organizer, Kaigo Co., Ltd, the exhibition will be staged at the heart of Taiwan’s largest hardware cluster in the Greater Taichung International Expo Centre. Multinational hardware producers and Taiwan’s top businesses in the industry.... Read more »

Posted on : Monday , 18th January 2016

Tripartite Dam Gets U.S.$138 Million From African Bank

Kigali — The African Development Bank (AfDB) Group recently in Abidjan, formally approved $138 million of loans and grants to finance the Ruzizi III Hydropower Plant Project. The AfDB said in a statement: 'The project will displace significant amount of fossil based power in the ECGLC region and increase the percentage of green energy. Additional benefits of the project include the creation of permanent and temporary jobs and a reduction in greenhouse gas.... Read more »

Posted on : Monday , 4th April 2016

Cameroon: Over Fcfa 100 Billion for Projects

Over FCFA 100 billion have been earmarked as Public Investment Budget for the South West Region this year. Some 191 projects have been endorsed for the region against 179 for 2015. Target is that contracts for executing the projects be awarded by April so as to give contractors enough time to execute them. Giving an exhaustive presentation of a circular of the Minister of Finance on the budget, an official from the ministry, Gideon Barfree, stated that the budget for the South West.... Read more »

Posted on : Monday , 4th April 2016

IFC Invests in Co-Op Bank to Support Entrepreneurs and Housing Finance in Kenya

IFC, a member of the World Bank Group, announced today that it will provide a $105 million loan to the Co-operative Bank of Kenya (Co-op Bank) to support lending to small and medium businesses, women entrepreneurs and the housing sector. The second largest bank in Kenya by total assets, Co-op Bank has 143 branches across the country and a subsidiary in South Sudan. Small and medium enterprises account for eighteen percent of the Bank's lending, or close to $386 million as of June.... Read more »

Posted on : Monday , 4th April 2016

East Africa: Ericsson Data Analytics Solution Captures Rise of the Internet of Things

Ericsson has launched the User & IoT Data Analytics solution at the Consumer Electronics Show (CES) event, held January 6 to January 9, 2016 in Las Vegas, US. The solution will help operators improve internal efficiency in managing data from subscribers and Internet of Things (IoT) devices while exploring new cross-vertical IoT applications. "The launch of the User & IoT Data Analytics solution is an important step in Ericsson's commitment to the IoT - and toward.... Read more »

Posted on : Monday , 4th April 2016

Ethiopia: New Incentive Rates for Local Manufacturers

The Ministry of Finance & Economic Cooperation (MoFEC) is ranking manufacturers by value addition for duty free benefits based on a new directive expected to be approved this month. This will happen by replacing the existing directive, No. 35/2013, which gave import privileges for only 30pc or more value addition. The new one will have a wide range from 0.05pc to 40pc   A committee established a year ago including members from the Ethiopian Revenues & Customs Authority.... Read more »

Posted on : Monday , 18th January 2016