The growth, which was mostly driven by a boom in finance, insurance and real estate, accounted for 44% of actual investments, the Uganda Investment Authority (UIA) has said. Addressing journalists in Kampala recently, the executive director of UIA, Dr. Frank Ssebowa, said the authority registered an 8% growth in actual investments to $46.8m, compared to $43m recorded in the previous quarter. He added that the business service sector.... Read more »

Posted on : Friday , 2nd January 2015

  The Tanzanian government has begun the compensation process for about 1,000 local residents who will need to be relocated, and construction will begin soon, Abdallah Kigoda, the Tanzanian minister for industry and trade, said at a news conference in Dar es Salaam last month, according to Xinhua, the Chinese state news agency. Mr Kigoda said that the Chinese side would provide $412.5 million for the project, located in the Kurasini area.... Read more »

Posted on : Friday , 2nd January 2015

 The centre – one of the latest moves by the Government to make Kenya investor-friendly – will bring Government ministries and agencies involved in investment facilitation under one roof. “Our intention is to second senior officers to the Centre with sufficient authority to make decisions.   I have directed the Ministry of East African Affairs and other Ministries involved to hasten this process,” he said. The.... Read more »

Posted on : Friday , 2nd January 2015

 African EPZ factory commenced operations last week. Located in Mtwapa, Kilifi County, the new factory will manufacture garments for the international market. Speaking during the official opening of the $25 million (Sh2.2b) factory, Industrialisation and Enterprise Development Cabinet Secretary Adan Mohamed, said the opening of the facility has already created 3,000 direct jobs with a potential to create another 4,000 jobs in its second.... Read more »

Posted on : Wednesday , 31st December 2014

 The ranch covering 1.78 million acres is located between Rivers Galana and Tana, which have adequate flow to supply water for irrigation. Agriculture Principal Secretary Sicily Kariuki said the project to ensure a million acres have been irrigated by 2017, has seen various investors express interest.  “Over 100 investors have expressed interest in writing since last year. Some of the investors are from Malaysia, Germany, India,.... Read more »

Posted on : Wednesday , 31st December 2014

 According to the statement, this was one of the resolutions agreed on during a recent meeting between EAC ambassadors in the Russian Federation and representatives of the EEC that took place at the Kenyan Embassy in Moscow, Russia. Rwanda was represented by Amb Jeanne d’Arc Mujawamariya and first secretary, Francis Karagire. “The meeting was aimed at learning about the EEC integration process and development of the economic.... Read more »

Posted on : Wednesday , 31st December 2014

 Growth in Kenya, East Africa’s biggest economy, is expected to accelerate over the next three years as the government increases spending on roads, railways and power plants, the National Treasury said.   The economy may expand 6.1 percent in the fiscal year that ends on June 30, 2015, Geoffrey Mwau, economic affairs director at the Treasury, said today in a presentation in the capital, Nairobi. The rate is forecast to increase.... Read more »

Posted on : Tuesday , 30th December 2014

 This sector is mainly agro based at the moment and plays an important role in adding value to agricultural output by providing forward and backward linkages with agricultural sector. However, there is a shift to export oriented manufacturing as the main thrust of Kenya's industrial policy since the country aims to raise the share of products in the regional market from 7% to 15 %..... Read more »

Posted on : Tuesday , 30th December 2014

 Keroche Breweries has invested Sh4 billion to expand its Naivasha plant. Company chief executive Tabitha Karanja said the brewer will also be increasing its range of products. “Keroche is embracing advanced brewing technology to ensure Kenyans and the region get sufficient supply of high quality bear,” she said. Mrs Karanja spoke in Nakuru yesterday during a marketing tour. She said Keroche is putting up a modern.... Read more »

Posted on : Tuesday , 30th December 2014

 French cement maker Lafarge will combine its South Africa business with publicly traded Nigerian unit Lafarge Wapco, its country CEO said. Guillaume Roux said the deal, worth 1.35 billion dollars, will see the Lafarge group get 200 million dollars in cash and 1.4 billion new shares in Lafarge Wapco to effect the merger. The new company, Lafarge Africa Plc, will have a market capitalisation of more than three billion dollars and will be.... Read more »

Posted on : Monday , 29th December 2014

 It is high time Indian exporters and investors turned their attention to the five countries in the East African Community, which is surging ahead with reforms and has become the second fastest economic bloc in the world The realisation of a large regional economic bloc with a combined population of more than 141.1 million people, land area of 1.82 million sq.km and a combined Gross Domestic Product of $99.8 billion, bears great strategic.... Read more »

Posted on : Monday , 29th December 2014

 The company aims to add 1 billion new customers by 2020, so as to double its existing user base. The majority of the growth is expected to come from emerging nations like Asia, Africa, and Latin America. We believe Africa will play a pivotal role in L’Oreal’s expansion plan. The Middle East and Africa segment is the fastest growing geographical segment for L’Oreal (approximately 15% year on year). In 2013,.... Read more »

Posted on : Monday , 29th December 2014