Marriott International to open 19 properties in Middle East and Africa in expansion plan

Marriott International to open 19 properties in Middle East and Africa in expansion plan

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AFRICA – Marriott International, an American multinational diversified hospitality company, has unveiled plans of growing its Africa and Middle East portfolio by adding 19 new properties and more than 3,000 rooms as part of its overall growth strategy. The company said that…

Competition authority approves Cemtech’s acquisition by Simba Cement Limited

Competition authority approves Cemtech’s acquisition by Simba Cement Limited

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KENYA – The Competition Authority of Kenya (CAK) has approved the acquisition of Cemtech Limited a Kenyan cement business by Simba Cement Limited in a move that is set revamp the factories operations after several failed attempts to start operations. The regulator…

Kenya in talks with South Africa’s Transnet to operate seaport

Kenya in talks with South Africa’s Transnet to operate seaport

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KENYA – Kenya is in talks with Transnet, a South Africa based rail, port and pipeline company to operate a seaport currently being developed which it plans to partly use for planned oil exports. According to Bloomberg, Transnet is leading a group…

Actis partners India’s Shapoorji in US$120m middle-income housing plan

Actis partners India’s Shapoorji in US$120m middle-income housing plan

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KENYA – The UK based private equity fund, Actis has partnered Indian real estate developer, Shapoorji Pallonji to develop US$120.42 million (SH12 billion) middle-income housing in Kenya. In addition to Kenya, the joint venture formed between the two companies will involve development…

African Infrastructure Investment Managers (AIIM) appoints Wanjiku Mugane as Senior Advisor in Kenya

African Infrastructure Investment Managers (AIIM) appoints Wanjiku Mugane as Senior Advisor in Kenya

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KENYA – African Infrastructure Investment Managers (AIIM), a private equity that develops and manages funds in African infrastructure projects has appointed Wanjiku Mugane as Senior Advisor in Kenya. The Kenya-born Mugane will be based in Nairobi Kenya, working hand in hand with…

AFC invests US$197.8m in Cote d’Ivoire hydroelectric power project

AFC invests US$197.8m in Cote d’Ivoire hydroelectric power project

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Cote d’Ivoire – The Africa Finance Corporation (AFC), an infrastructure development finance institution in Africa, announced financial close of a credit facility towards Cote d’Ivoire’s 44-MW Singrobo-Ahouaty hydroelectric power project (SAHP). AFC’s commitment to the Ivoire Hydro Energy (IHE) amounts to a…

AfDB approves US$71.5 million loan for sustainable wastewater services in Nairobi

AfDB approves US$71.5 million loan for sustainable wastewater services in Nairobi

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KENYA– The African Development Bank’s (AfDB) Board of Directors has approved €62.914 million (US$71.5 million) to finance the provision of sustainable wastewater services through the ‘Nairobi Rivers Basin Rehabilitation and Restoration Program: Sewerage Improvement Project Phase II’. The objective of the project…