Market News Page No. 438| Africa Business News

TAXMAN ENHANCES ELECTRONIC GOODS CONTROL TO BOOST REVENUE

The Kenya Revenue Authority aims to fully automate its goods clearance and cargo tracking systems within two years as part of a strategy to seal revenue loopholes. The country losses substantial revenue through suspected under-declaration of the value of exports or theft of cargo at a time when the taxman is under pressure to meet collection targets. KRA targets a 100 per cent coverage of goods under electronic control by 2017/2018 from a.... Read more »

Posted on : Thursday , 24th September 2015

Curtains fall on Big3Africa 2015

As the curtains came down after a successful and exciting Three-day interiors exhibition at the Big3Africa 2015, at the KICC, Nairobi, Kenya one thing came out clearly. Not only are the lifestyles, tastes and preferences of Kenyans changing, but there’s also a quest for finer things in life. The number of visitors was also a clear indication that many are yearning for aesthetically pleasing and creative interiors and players in the.... Read more »

Posted on : Thursday , 24th September 2015

CHINA FUNDED MOMBASA-NAIROBI RAILWAY TO BE EXTENDED

China recently endorsed a new deal with the Kenyan government to extend the Mombasa-Nairobi Standard Gauge Railway (SGR) line to Naivasha. This was a follow-up to the $13.8 billion project that started in January, which is aimed at easing and increasing transport capacity in Kenya vis-a-vis other East African countries. It will also aid interconnection and regional integration, the outcome of which will be economic development for Kenya and.... Read more »

Posted on : Thursday , 24th September 2015

Major cement plant in Kenya to be constructed

Cemtech Limited is set to commence in January the construction of a US$ 95m cement plant in Kenya in West Pokot County. The feasibility study for the project which was commissioned in 2010 by the Kerio Valley Development Authority (KVDA) shows that the area has large limestone deposits with the possibility of producing 1.2 million tons of cement annually. Cemtech’s General Manager, Diptish Nandha confirmed the news and said that they.... Read more »

Posted on : Thursday , 24th September 2015

UNDERWRITING AFRICA LAUNCHES IN NAIROBI WITH PRODUCTS TARGETING UPSTREAM SECTOR

East Africa has its first boutique Insurance Intermediary Company set up to provide niche and specialist insurance solutions to oil and gas exploration firms and their contractors. Underwriting Africa whose headquarters are based in Nairobi has among its Reinsurance Partners Swiss Re with other brokerage partners in London and Paris. On the oil and gas front the company will fill a gap that has been void in the local space allowing the.... Read more »

Posted on : Thursday , 24th September 2015

Kenya: Nairobi County Govt to Spend Sh953 Million to Rehabilitate Roads

The Nairobi County government will spend Sh953 million on rehabilitating city roads. Governor Evans Kidero said repair of roads was the next project after the rehabilitation of street lights in the county government's Nairobi Integrated Urban Development Master Plan. Dr Kidero said the street lights project had seen crime levels drop from 1,200 incidents per month to 300. He, however, said the project has been facing challenges due to.... Read more »

Posted on : Thursday , 24th September 2015

Africa's licenses US$250mn worth solar power projects

Five solar power projects, valued at a total of US$250mn, have been licensed by the Zimbabwe Energy Regulatory Authority (ZERA) Solar Panels Lance Cheung FlickrThe five solar power projects are expected to generate about 160MW of power together. Taken together, the five projects are expected to produce 160MW of power. According to ZERA CEO, Gloria Magombo, the licensed projects are at different stages in the project development.... Read more »