Market News

 The Netherlands Trust Fund III (NTF III) Export Sector Competitiveness Programme, a three-year, multi-phase Dutch-backed project with the International Trade Centre (ITC), has completed the company selection process for the projects in Kenya and Uganda. 33 Kenyan and 30 Ugandan companies were . . .

 THE good investment environment in Tanzania has enabled the country to take the lead in attracting Foreign Direct Investment (FDI) in the East African Region by USD1.1 billion (1.76 trillion/-) in 2012. And President Jakaya Kikwete has reiterated the country's commitment to attract more inves . . .

 Egyptian private-equity company Qalaa Holdings SAE is investing $70 million to accelerate the movement of rail cargo carried from East Africa’s busiest port, as it faces competition from a new Chinese-backed link. Qalaa controls Rift Valley Railways Ltd., the operator of a railway built . . .

 Old Mutual PLC Friday said it is buying a 23.3% stake in Kenya-based UAP Holdings Ltd, an East and Central African financial services company, for KES8.88 billion, or about USD97.6 million, part of its strategy to expand in Africa. The acquisition comes as the FTSE 100 investment, savings, in . . .

 Kenya Commercial Bank is still the biggest bank in the region, with Tier 1 capital of $567m, up from $479m last year, followed by another six Kenyan banks. The country has one of the most developed banking sectors in Africa but it is also one of the most competitive, with a very developed mob . . .