Unilever eyes Tatu City land in Sh17bn plan
Consumer goods manufacturer Unilever East Africa is set to acquire a 70-acre piece of land in Kiambu’s Tatu City, setting the stage for its Sh17 billion expansion plans.
The producer of OMO detergent and Blue Band margarine said it had signed an agreement with the property developer to buy the land for hundreds of millions of shillings, with the exact price undisclosed.
The multinational is now expected to build a new factory in the location in the medium term, replacing the current plant it has operated at Nairobi’s Industrial Area for decades.
This will be part of the Sh17 billion investments in Kenya announced by its global chief executive Paul Polman last year.
Kenya’s investments in Tanzania grow
KENYA’S investments in Tanzania have reached 1.685 million US dollars in 518 projects creating 55,762 jobs. The Executive Director of Tanzania Investment Centre, Juliet Kairuki, revealed this in Nairobi recently in Tanzania-Kenya business forum during an official state visit of President Jakaya Kikwete to Kenya.
Juliet Kairuki said, the forum was organized by Kenya Ministry of Foreign Affairs and International Trade, Kenya Investment Authority, Kenya Association of Manufacturers and Kenya National Chamber of Commerce and Industry and Tanzania Investment Centre.
It attracted around 200 participants including senior government officials, leaders and members of the private sector who represented various sectors particularly energy, manufacturing, education, transport and logistics, financial sector, real estate and tourism.
Centum Investment Company - Building Value in Kenya: Ryan Hoover, Investment Analyst, Africa Capital Group
It’s gut check time for Kenya investors.
The Nairobi Securities Exchange’s main index has lost 31.7% in U.S. dollar terms since the start of the year in response to security concerns, China’s slowing growth, and a brief experiment with a 5% capital gains tax.
The drop makes for a compelling opportunity to purchase shares of the country’s largest investment holding firm.
Prime assets
French cosmetics giant opens at Garden City
French cosmetic giant LancĂ´me, has entered the Kenyan market through a franchise deal with local firm Lintons Beauty World that will be the sole distributor of its cosmetic products in East Africa.
The LancĂ´me Kenyan franchise was launched at the Garden City Mall on Wednesday.
Lintons, which was started as a pharmacy shop, entered the cosmetics business in 1998.
It sold the pharmacy business three years ago to concentrate on beauty products.
