Prices rise as healthy timber business booms
The young man dressed in a dark blue overcoat wipes sweat from his brow as he struggles to carry a 20-meter piece of timber to a lorry.
With the timber balancing delicately on his right shoulder, he walks for about ten meters and places it in the lorry, before turning back to pick more.
Africa will top mining wishlists for Asian investors
Werner Jacobs, senior manager, corporate finance and metals & mining at KPMG
2013 was a tough year for the mining sector in Africa. This was principally due to lower commodity prices, a drop in investor confidence due to lower returns over the last commodity super-cycle, and continued increases in operating costs.
Timber-starved Kenya seeks new suppliers
A chronic timber shortage has hit Kenya forcing the country to turn to expensive imports from neighbouring countries.
Latest statistics indicate that the country spends more than Ksh3 billion ($37.5 million) annually on timber imports compared with Ksh4.9 million ($61,250) in 1999, to meet rising demand that now stands at 38 million cubic metres annually.
World Bank increases Kenya funding
President Kenyatta said the bank funded public sector projects to the tune of $8.5 billion (Ksh722. 5 billion) and invested another US$4.3 billion (Ksh373.84 billion) to support 23 national and six regional projects to reduce the effects of climate change.
