World Bank Body Eyes More Deals in Kenya
WORLD Bank's Multilateral Investment Guarantee Agency, is seeking to scale up involvement in the country beyond the energy sector.
MIGA's chief chief operating officer Michel Wormser told journalists after his day-long scouting visit on Friday evening that the agency was eyeing investment opportunities in transport infrastructure and agribusiness.
Miga is the World Bank Group's political risk insurance and credit enhancement guarantee arm.
Kenya gets favourable ranking on economic competitiveness
Kenya has been ranked among the top 100 most competitive nations in the world. The Global Competitiveness Index (GCI) report 2014/15 released by World Economic Forum saw Kenya rise to 90th from its 96th ranking last year. Vision 2030 Delivery Board attributes the growth to institutional and policy reforms. Speaking in Nairobi, Vision 2030 Delivery Board Chairman James Mwangi, said the rise is a positive verification of private and public sector efforts to transform the country.
Read more: Kenya gets favourable ranking on economic competitiveness
Tata Motors to set up hub-and-spoke model abroad
Tata Motors, country's largest automobile manufacturer by revenues, will be using the 'hub-andspoke' model in which India will be the key manufacturing base while it will have mini-hubs in overseas markets. ET has learnt that the company is adopting the hub-and-spoke manufacturing model where the company plans to set up mini-hubs in potential markets like Africa (South Africa, East Africa and North Africa), the Middle East and South East Asia.
GM Sales Gather Speed in Africa
General Motors South Africa (GMSA) confirmed that the new Opel Adam hatchback and Mokka SUV will arrive locally in 2015. The new models form part of Opel's global product offensive which will see 27 new vehicles and 17 engines launched by 2018, and reaching a growing African market.
Mario Spangenberg, president of GM Africa, reports that the company has invested over R1.7-billion in its Africa operations in the past few years.
