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.
Emerging Oil Giant Kenya Gets Major Infrastructure Boost from China
Bottom Line: Rushing to get some massive infrastructure projects off the ground as oil discoveries move towards commercial production in Kenya, the Chinese launch a landmark multi-country railway project to compliment the port expansion at Mombasa.
Recommendation: This massive rail project—funded by Chinese soft power—will dramatically increase Kenya’s trade prospects and secure its position as a regional hub and economic powerhouse. Investment will respond in kind.
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.
Oil Firms in Kenya Embrace Technology
A SENIOR technology executive projected Kenya's oil production to increase significantly as companies in the sector adopt technology to increase output.
Kenya pumps an average of 6 000 barrels of crude oil per day but experts believe the country has a capacity to pump up to 100 000 barrels.
Under current conditions, the old model of oil drilling, supervision and pumping are seen as time and cost-consuming.
