Market News

Antananarivo — Chinese Foreign Minister Wang Yi said here Saturday that China welcomes African countries to join the Belt and Road Initiative.   The initiative was proposed by Chinese President Xi Jinping in hope for common development and common prosperity with countries that identify . . .

Egyptian investment firm Qalaa Holdings has confirmed that it is talking to several local and international investors as it seeks to sell its stake in Rift Valley Railways.   The Business Daily on Wednesday reported that a consortium of local firms has made a $133 million bid to buy an 80 per . . .

Nairobi is on the global watchlist of top five fast modernising cities that are attracting new global business on growing realisation that big companies cannot operate from one sub-Saharan location in South Africa.   The city is also taking off as a hub for global corporations looking to esta . . .

Kampala — The African Development Bank (ADB) board of directors has approved the institution's borrowing programme for 2017, for an amount of $8.4 billion (Shsh30.4 trillion).   The money will be raised from capital markets in African countries by issuing bonds in local currency to fina . . .

Nairobi — The Sh2.4 billion ultra-modern national library complex on Ngong road, Nairobi is set to be opened in 2017, with 65 percent of the works completed on the 5 storey building.   Vision 2030 Delivery Secretariat, Director General, Dr. Julius Muia, says the library will offer a com . . .