High-Speed Fibre Cable to Connect Kenya, S.Sudan in 2 Years
Nairobi — Kenya and South Sudan will be connected to a high-speed fibre optic cable within the next two years enhancing communication and inter-border trade.
The two governments are implementing the optic fibre cable system as part of the Eastern Africa Regional Transport, Trade and Development Facilitation Project.
The project will also build a road linking the two countries from Eldoret to Lodwar and Juba and a common border post built at the interconnection of the two countries.
Read more: High-Speed Fibre Cable to Connect Kenya, S.Sudan in 2 Years
German elevators firm eyes Kenya’s real estate sector
A Germany-based firm has entered the Kenyan market, targeting the booming property sector to move sales of its elevators, escalators and passenger lifts.
ThyssenKrupp Elevators, which installed lifts and escalators at the World Trade Centre that re-opened last year in New York, joins the growing list of foreign firms that have forayed into Kenya’s construction sector.
It has partnered with Nairobi-based East African Elevator Company to supply the regional market.
Read more: German elevators firm eyes Kenya’s real estate sector
Kenya's $540M Garden City opens
Garden City, East Africa’s first integrated residential, retail and office development, officially opened last night with the announcement of a new Business Park.
Developeb by Actis, an emerging market investor responsible for the Junction Mall and Nairobi Business Park, Garden City is a $540m flagship project comprising one of the largest retail malls in East Africa, offering retail, over 400 residential units, offices and a central park.
It is also home to the largest solar paneled carport in Africa, situated on the mall’s roof.
Bamburi Cement net profit nearly doubles in first half
A boom in construction and foreign exchange gains has helped Bamburi Cement’s net profit almost double for the six months to June. The cement manufacturer reported an 86 per cent leap in net profits to Sh3 billion, with the management projecting an even better second half.
The company, which is controlled by France’s Lafarge, attributed the strong performance to growth in demand in its two main markets, Uganda and Kenya, cost cutting and gains in its dollar-based liquid assets due to a steep weakening of the Ugandan and Kenyan currencies. “We are optimistic that the business environment will remain stable in the second half of the year,” said Managing Director Bruno Pescheux. The depreciation of the shilling enabled the firm to book more than Sh357 million in gains for the six-month period that was earned from dollar denominated liquid assets, which the firm did not disclose.
Read more: Bamburi Cement net profit nearly doubles in first half
