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…

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…