Deloitte report ranks Kenya high in infrastructure projects
Kenya continues to lead the region in terms of infrastructure development with 20 roads, energy, harbors,water and energy projects. Ethiopia comes second with 12 projects according to a report compiled by consultancy Deloitte.
Large mega projects for the last three years occupied up to 20 per cent of all the total capital investment in Africa with a cumulative worth of US$568 billion, a big chuck of it coming from financiers and foreign aid such as the World Bank and even China.
Read more: Deloitte report ranks Kenya high in infrastructure projects
Cytonn to construct US$ 25m apartments in Kenya
Cytonn Chief Investment Officer Elizabeth Nkukuu confirmed the news and said that the apartments which will be built in Ruaka on the outskirts of Nairobi will target the middle to lower-middle income class with a discerning preference for modern day apartments.
Our deal pipeline is to serve different sectors of the real estate market ranging from the high end, such as the Amara Ridge whose construction is still going on in Karen, the middle to lower-middle income such as The Alma, which will offer a very comprehensive lifestyle and secure community to the future families, said Nkukuu.
The multi-million lifestyle community will constitute 408 modern apartments with 1, 2 and 3 bedrooms, a commercial facility, a lifestyle clubhouse and an elevated playground for children.
Chinese Firm to Build Communication Solution for Kenya's Railway
Nairobi — Chinese telecommunication giant Huawei said Thursday it has won a major railway contract to build a train-to-ground communications solution fully integrated with train signal systems for Kenya's Mombasa-Nairobi railway line.
In a statement received in Nairobi, Huawei said it will provide the GSM-R dispatching communications network as well as backbone optical transmission network, clock and synchronization system, and power and environment monitoring system to the region.
After completion, the Mombasa-Nairobi railway line's GSM-R network will carry multiple communications tasks, including mission-critical train dispatch, emergency communications, section maintenance communications, and transmission of train control data along the entire line, the statement said.
Read more: Chinese Firm to Build Communication Solution for Kenya's Railway
France approves Sh28bn for Kenya's infrastructure
Kenya has signed seven memorandums of understanding that will see the country receive up to 250 million euros (Sh28.8 billion).The agreements were signed after President Uhuru Kenyatta met his French counterpart Francois Hollande for bilateral agreements.The financing includes grants and loans negotiated through the national Treasury to finance several infrastructure projects in the country.This is the first time the presidents of the two countries are meeting in fourteen years.Cabinet secretaries Amina Mohamed, Henry Rotich, Najib Balala and Eugene Wamalwa have accompanied President Kenyatta on the state visit.
A bulk of the money Sh13.8 billion (120 million euros) will be used to finance the Last Mile Connectivity Programme.Of this, 90 million euros is being given to the country as a Concessional Loan, with the remaining 30 million euros as a grant.
Read more: France approves Sh28bn for Kenya's infrastructure
