Latest African business news, economy, corporate, markets updates

Kenya: New Team to Lead Kenya's Mining Sector Reforms

Kenya's Mining Ministry has received the green light to issue licences - which had been frozen for one year since May 2016 - following the inauguration of the Mineral Rights Board.

"The inauguration of the board is the epitome of our reform agenda for the mining sector. This is something the ministry has been looking forward to even as industry stakeholders have been waiting for this day to come to pass so that the pending expired licences and.... Read more »

Posted on : Friday , 11th August 2017

300 Meter Skyscraper Under Construction in Kenya To Become Africa’s Tallest Building

Construction has begun on a 70-floor ultramodern twin tower building in Kenya’s capital, Nairobi.

On completion, the 300-meter-tall skyscraper, known as the “Pinnacle,” will become Africa’s tallest building, beating the current holder, the 223-meter-tall Carlton Center in Johannesburg.

The $200 million project is being financed by Dubai-based private investor firm Hass Petroleum and White Lotus.... Read more »

Posted on : Friday , 11th August 2017

Kenyan key contract being built by Bechtel

Bechtel has won a major project to build and important highway link in Kenya. This will be the first long stretch of high-speed expressway in Kenya and will connect the capital, Nairobi, with the country’s main port, Mombasa. The project for the 473km connection is being supported with financing from US and UK sources. Once the new route is open to traffic, journeys between Nairobi will take just four hours by road, instead of 10 at present.

Posted on : Friday , 11th August 2017

EABL launches construction of Sh15bn plant

Beer maker EABL #ticker:EABL has broken ground on its planned Sh15 billion brewery in Kisumu, signalling good tidings for thousands of farmers who will be contracted to supply raw materials.

The brewer, whose ground-breaking was officiated yesterday by President Uhuru Kenyatta, is projected to handle up to a quarter of the output by Kenya Breweries.

“The plant should be up and running in 18 months. We are hoping.... Read more »

Posted on : Friday , 11th August 2017

Sh2.9bn centre to house Kenya roads agencies

The World Bank is set to fund the construction of a Sh2.9 billion complex in Nairobi that will house Kenya’s road institutions and the National Construction Authority. China’s firm, Avic has already won the project’s tender.

The project, being overseen by the Kenya National Highways Authority (KeNHA), will see the setting up of four office blocks covering 35,000 square metres, a 500-seater auditorium and a service building.

Posted on : Friday , 11th August 2017

New construction bill proposes radical changes to the sector

In a bid to tame rogue contractors and ensure accountability in the construction sector, a bill has been introduced in Parliament to ensure that each construction project has a professional manager. The bill introduced in Parliament in March seeks to have Kenya follow in the footsteps of South Africa, which is the only country in Africa with such an arrangement where the manager oversees the process of construction.The bill will await the next Parliament.

Posted on : Friday , 11th August 2017

ICT Regulation: Efficiency in transforming Rwanda's economy

Aline Uwitonze, an entrepreneur from Gatsibo District, says she no longer has to travel long distances, to access Banks or carry out financial transactions.

“All I do is use my mobile phone, to send and receive money, read the news and most importantly, make calls to my customers from anywhere at affordable rates,” she says.

Uwitonze’s story has been possible thanks to relentless efforts of the Gover.... Read more »