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AfricaMoney | May 1, 2017

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Mauritius Union Assurance acquires stake in Kenya’s Phoenix Transafrica

June 4, 2014 |

The transaction, which is currently estimated at around Rs 685 million (USD 22.6 million), will be partly financed from MUA's own resources, together with a bond issue. (Image: Adenia)

Financial services major Mau...
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London investment major acquires 25% of Nairobi IT firm

October 2, 2013 |

ISON founder and chairman Ramesh Awtaney at the Hilton Hotel in Nairobi on September 12, 2013. (Source:

Satya Capital, a London-based investment firm launched by billionaire entrepreneur Mo...
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Kenya, SA shining: building bridges, nurturing innovation

October 1, 2013 |

Kenya’s ambassador to South Africa, Patrick Wamoto, recently wooed investors, leading a business delegation to the East African commerce hub, to illustrate its importance as a gateway to commerce in the region.

Wamoto said the co...
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Chinese bank invests in African infrastructure development

August 23, 2013 |

China Development Bank (CDB) has invested at least US$2.4bn in African infrastructure and commercial projects. The projects will be estimated to bring at least a further US$10bn of Chinese investments into Africa.

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SA property firm targets growing retailer interest in Kenya

August 19, 2013 |

 South African property management firm Broll has entered the Kenyan market in an effort to benefit from the growing number of foreign retailers seeking space to conduct business in the East African country

Fellow South African fi...
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Chinese firm to build tallest trade tower in Kenya

July 19, 2013 |

Jiangxi International will be constructing the tallest trade building in Kenya, reports African Review. The building will be known as the National Social Security Fund’s (NSSF) Trade Centre.  Kenyan Cementers had also bid for the project, but the Chinese firm won t...
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Equity Bank and Google launch e-payments in Kenya

May 2, 2013 |

The new BebaPay smart card is set to make life a lot easier for Kenyan commuters thanks to innovation from a leading bank group and Google. Equity Bank and Google are behind Kenya’s newest cashless innovation, BebaPay, which is aimed at making payments easier for c...
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AfDB facilitates energy diversification in Kenya

April 29, 2013 |

The Board of Directors of the African Development Bank (AfDB) approved €115 million in financing for a wind power project in Kenya’s Lake Turkana region. The project will add 300MW to power generation capacity and will benefit Kenya by providing clean and affordab...
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Kenya Airways receives first fully owned freighter jet

April 21, 2013 |

Kenya Airways received its first fully owned cargo aircraft to tap into the growing cargo freighting business in Africa.

 The new freighter jet, Boeing B737-300, has a cargo capacity of 20 metric tons. It is the first of four pass...
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AfDB supports Tanzania-Kenya road financing

April 18, 2013 |

The African Development Bank has approved two loans totalling USD 232.5 million for the 157.5-kilometre road project from Arusha to Holili in Tanzania, and Taveta to Voi in Kenya, in an effort to reduce the cost of transport and enhance access to agricultural inputs, ...
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IMF approves $108.5 million disbursement for Kenya

April 17, 2013 |

The Executive Board of the International Monetary Fund (IMF) has completed the fifth review under a three-year arrangement under the Extended Credit Facility (ECF) for Kenya. The completion of the review enables the disbursement of an amount equivalent to SDR 71.921 m...
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L’Oreal buys kenya’s Nice & Lovely

April 16, 2013 | 3

World’s largest multinational cosmetics company L’Oreal has acquired Kenya’s Interconsumer Products Ltd, makers of Nice & Lovely brands, in a multi-billion dollar transaction recently. London-listed L’Oreal bought the Kenyan firm with an eye on East Afric...
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Kenya: Government invests Shs.560 million in off grid power projects

March 4, 2013 |

February 4, 2013 - Kenya Power is developing renewable power projects in North Eastern and Rift Valley at a total cost of Shs.560 million to complement diesel generation in areas not connected to the national grid (off grid).  Kenya Power is developing renewable powe...
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Cell phones revolutionizing Kenya’s livestock sector

March 2, 2013 |

Farmers and veterinarians across Africa are increasingly using cell phones to issue alerts quickly about possible animal disease outbreaks at a very early stage and to track wide-scale vaccination campaigns. Mobile phone applications are making ‘early warning’ a matter of seconds...
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Kenya Airways reveals stable operating results for Q3

January 29, 2013 |

January 29, 2013 - Kenya Airways has revealed its operating results for the third quarter of 2012, showing growth in a number of regions although significant impacts of Euro...
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Kenya Launches $1.6m IT Incubation Centre

January 25, 2013 |

January 25, 2013- The Kenyan government has partnered with Kenyan business incubator, Nailab, to launch a $1.6 million (Sh140 million) technology incubation centre, i...
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Morgan Stanley, IFC invests $7.5 million to boost food security

January 23, 2013 |

January 23, 2013 - Eleni LLC, a newly formed company led by CEO Dr. Eleni Gabre-Madhin, announced today that ...
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Kenya: Diaspora remittances pick up

January 8, 2013 | January 8, 2013 - Remittances to Kenya amounted to US$ 97.5 million in November 2012, or 6.4 percent higher than US$ 91.6 million recorded in October 2012. The average remittances inflow in the year to November 2012 amounted to US$ 95.9 million, or 32.1 percent above US$ 72.6 million recorded in th...
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Green and Inclusive project USD 125 million for the Horn of Africa

December 26, 2012 | 26th December, 2012 -The Board of Directors of the African Development Group, approved a project in the amount of USD  125 million for the first phase of the drought resilience project and provision of long-lasting  means of subsistence to populations in the Horn of Africa.  Three coun...
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IFC Announces Partnership to Increase Access to Affordable Sanitation in East Africa

December 19, 2012 | December 19, 2012:IFC, a member of the World Bank Group, announced support from the Bill & Melinda Gates Foundation to catalyze the market for improved sanitation and accelerate access to more affordable sanitation solutions for low-income households in East Africa. The Selling ...
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AfDB invests in Kenya’s young innovators

December 18, 2012 | December, 18 2012: Last month’s conclusion of the Appstar Challenge demonstrated that Kenyan youth are the driving force of the country’s revolution in innovation and entrepreneurship. ...
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Kenya: Forbes Africa Celebrates James Mwangi

December 17, 2012 | Dr James Mwangi, the CEO of Equity Bank, was on Tuesday night feted at a dinner party in celebration of his winning the 2012 Forbes Africa Person of the Year award at a ceremony held earlier this month in Lagos, Nigeria. The dinner held at the Hilton Nairobi was hosted by Forbes Africa, and saw M...
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AfDB Approves New Funds for Ethiopia-Kenya Power Project

December 11, 2012 | Photo: Gabriel Negatu Addis Ababa — The African Development Bank (AfDB) has approved a loan agreement amounting US$115 million to finance the construction of a cross-border electricity highway running between Ethiopia and Kenya. According to a press release issued by AfDB on...
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Investment in power sector can improve growth and competitiveness in Kenya

December 8, 2012 | December, 2012: Agreements for the Triumph Power Generation Company, a new independent power producer, were signed this week between the Government of Kenya, Kenya Power, JP Morgan Bank, and the World Bank for a $45 million Partial Risk Guarantee (PRG).  The PRG will mobilize $140 million in privat...
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CFC Stanbic Bank Launches Millionaires Service

December 5, 2012 | CfC Stanbic Bank Managing Director, Greg Brackenridge CfC Stanbic Bank has launched an exclusive service for dollar millionaires in Kenya for the East Africa region. The private clients service targets high net worth individuals with investable assets in excess of Sh85 million ($...
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AfDB Invests $43.7 Million in Kenya’s Higher Education Sector

December 3, 2012 | November 2012: The African Development Bank has approved a US $43.7 Million loan to the Kenyan Government to enhance education and training institutions and develop skills needed in the changing labor market. The Loan, approved on 14 November, will also help the university system to build capacity t...
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New MD for Barclays Bank of Kenya

November 29, 2012 | Nairobi — Barclays Bank of Kenya has appointed Jeremy Awori as Managing Director to take over from Adan Mohammed who has been promoted to oversee the bank's administrative functions in Africa. A statement from the bank said the changes take effect on February 1, 2013. Awori joins Barclays from ...
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Kenya’s Bold Move to Improve Performance in Delivery of Judicial Services

November 20, 2012 | November  2012: Kenya has embarked on a major transformation of its judicial system to improve key functions to promote better administration of justice and delivery of quality legal services to court users. Read More

Private Investors to Raise Stake in Financing Kenya’s Infrastructure

November 20, 2012 | WASHINGTON, November 15, 2012:  The Government of Kenya is seeking to extend and deepen its partnership with the private sector to raise more private investment and expertise to accelerate infrastructure capital formation. Read More
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