East Africa: Nairobi Termed 'Hub of Impact Investment' As Region Attracts U.S.$9 Billion
East Africa is fast becoming a hotspot for impact investing that promotes not just profits but also sound environmental and social principles.
In the past five years, about $9.3 billion in impact investment funds has flowed into the region, according to the latest report produced by the UK Department for International Development (DfID), the Global Impact Investing Network (GIIN) and Open Capital Advisors.
Nairobi is identified as the hub of the funding and headquarters of the managers handling the deals, with about half of the $9.3 billion being invested in the country. Uganda and Tanzania received 13 per cent and 12 per cent of the total investments respectively.
Kenya: GM, Auto Express Sign Deal for After Sales Service
Nairobi — General Motors East Africa (GMEA) Limited has signed a partnership with Auto Xpress that will see the company expand its after sales service network.
Through the union, Isuzu and Chevrolet customers will now access after sales service from Auto Xpress outlets countrywide.
Speaking during the signing, GMEA Managing Director Rita Kavashe said the move was part of General Motors strategy to ensure the customers access genuine parts and service.
"We have expanded our after sales network to ensure our customers receive the same quality after sales services they receive from us nearer to their homes," said Kavashe.
The project will run in 11 Auto Xpress outlets but is expected to grow to a total of 76 outlets in the next two years.
Kenya to Get Investment Worth $55.6bn for Infrastructure Development
An estimated $55.6 billion in investment into infrastructure development for Kenya is planned (as of 2015), the majority of which will focus on telecommunications and power generation infrastructure, a new study reveals.
Dubbed as African Infrastructure Tracker: Kenya, the research and analysis was done by Frost & Sullivan. The study also reveals that Kenya is set to become a hub for intra-regional trade in Africa.
The study also reveals that Mega infrastructure projects are planned for East Africa and are set to create unique opportunities and open new markets in Kenya, Uganda and Ethiopia. Industry sectors expected to benefit from the planned infrastructure developments include oil and gas (O&G), mining, agriculture, and retail.
Salesforce launches in East Africa
American cloud computing solutions provider Salesforce has launched its services in the East African market, targeting regional governments, financial, manufacturing and the entertainment sectors.
“We are in discussions with some banks and insurance companies that are willing to take up the offer while the Kenyan government is considering our services in its push for online driven registration of its services,†said Francis Kaburu, managing partner at Blue Consulting.
Media houses are another target, Mr Kaburu, said as they seek to better relations between themselves and advertising companies.
