World Bank’s arm offers US$4.8m financing to boost Kenya businesses

World Bank’s arm offers US$4.8m financing to boost Kenya businesses

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KENYA – The International Finance Corporation (IFC), the financial institution of the World Bank has offered to invest US$4.8 million (Sh490 million) in technical advisory services to the Kenyan government to boost businesses. The deal is expected to help in promoting business…

Mars Wrigley’s opens US$70m manufacturing plant in Kenya

Mars Wrigley’s opens US$70m manufacturing plant in Kenya

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KENYA – Mars Wrigley Confectionary, Unites States based confectionary maker, has inaugurated a new US$70 million (Sh7bn) plant in Athi River, Kenya as it seeks to diversify its local confectionery product portfolio. Speaking during the inauguration ceremony, Duncan McCulloch, Mars Wrigley Confectionary…

AfDB doubles its climate finance commitments to US$25bn within 2020-2025

AfDB doubles its climate finance commitments to US$25bn within 2020-2025

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AFRICA – The African Development Bank (AfDB) announced that it will double its climate finance commitments for the period 2020-2025 to at least US$25 billion. The announcement was made by Akinwumi A. Adesina, the Bank’s President during the One Planet Summit in…

CDC opens offices in Kenya and Nigeria to increase investments

CDC opens offices in Kenya and Nigeria to increase investments

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AFRICA – The United Kingdom’s government-owned development finance institution, commonwealth Development Corporation (CDC), has opened offices in Kenya and Nigeria as part of its strategy trade ties with African countries. According to Nick O’Donohoe, chief executive of the CDC Group, the new…