Construction of the Mass Rapid Transit System in Kenya gets green light
Construction of the Mass Rapid Transit System in Kenya which will cost US$ 4m is set to be launched in the capital Nairobi and will be fully funded by the National Treasury.
The acting Director-general of public debt management at the Treasury, Jackson Kinyanjui confirmed the reports and said that the Ministry of Transport and Infrastructure accepted the proposal for the allocation of US$4m for the construction of the Mass Rapid Transit System.
“Treasury has accepted the implementation of the project. We are looking forward to smooth implementation,” said Mr. Kinyanjui in the letter addressed to Transport Principal Secretary John Mosonik and copied to Nairobi Governor Evans Kidero.
Read more: Construction of the Mass Rapid Transit System in Kenya gets green light
Stanlib Kenya REIT to raise $120M in IPO
Stanlib Kenya Ltd. intends on raising up to $120m (12.5 billion Shillings) before November for the initial public offering (IPO) of what will be Kenya’s flagship Real Estate Investment Trust (REIT). Fahari I-REIT will be listed on the Nairobi Stock Exchange and SBG Securities, owned by the Standard Bank Group Ltd. will be the bookrunner for the IPO.
In a phone call with Bloomberg, Felix Gichaga, Stanlib Kenya’s Business Development Manager explained that the I-REIT offers investors diversification and allows ordinary Kenyans to get exposure to income-generating real estate assets, as the cost of entry is not as high as investing directly.
President Uhuru Kenyatta invites US firms to invest in Lapsset project
President Uhuru Kenyatta Tuesday invited American firms to invest in the multi-billion Lamu Port project, arguing that Kenya had taken measures to make it easier for them to conduct business.
Marketing Kenya for the second time on the sidelines of the UN General Assembly, President Kenyatta said that the country had opened up opportunities for US multinationals to invest in mega infrastructure projects such as the Lamu Port South Sudan Ethiopia (Lapsset) initiative which links the region.
President Kenyatta said that when US President Barack Obama visited Kenyan July, they agreed to pen up business opportunities for American companies and he was making a follow up to firms with the finances and technology to invest in the country and its neighbours.
Read more: President Uhuru Kenyatta invites US firms to invest in Lapsset project
Major cement plant in Kenya to be constructed
Cemtech Limited is set to commence in January the construction of a US$ 95m cement plant in Kenya in West Pokot County.
The feasibility study for the project which was commissioned in 2010 by the Kerio Valley Development Authority (KVDA) shows that the area has large limestone deposits with the possibility of producing 1.2 million tons of cement annually.
Cemtech’s General Manager, Diptish Nandha confirmed the news and said that they have finalized on the logistics that had initially led to the delay of the commencement for the past five years.
