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VW opens Kenya assembly plant, launches ride sharing service in Rwanda

VW opens Kenya assembly plant, launches ride sharing service in Rwanda

German vehicle maker Volkswagen (VW) officially unveiled its production facility in Kenya as it strengthens its presence in emerging markets.  During the inauguration of the assembly plant in the East African country, VW showcased its first locally assembled passenger vehicle, dubbed Polo Vivo. The plant is expected to produce cars…

Kenya’s record African Eurobond debut oversubscription to benefit NSE listings

Kenya’s record African Eurobond debut oversubscription to benefit NSE listings

In the latest Eurobond issue on the continent, Kenya secured bids worth USD 8bn (KES 702.4bn) for its debut Eurobond, highlighting foreign investor confidence despite rising terror threats. Kenya had targeted to borrow between USD 1.5bn to USD 2.0bn (KES 175.6bn) and according to officials, the Treasury would accept USD…

Kenya launches mega $13.8bn railway project

Kenya launches mega $13.8bn railway project

Kenya has launched a $13.8bn flagship railway project linking the port city of Mombasa to the capital Nairobi and is eventually hoped to extend onwards to neighbouring Uganda. The project, called a “historic milestone” by President Uhuru Kenyatta, who presided over a ground-breaking in Mombasa on Thursday, will also connect…

AfDB Board commits US $113 million to Tanzania, Burundi and Rwanda power plant

AfDB Board commits US $113 million to Tanzania, Burundi and Rwanda power plant

The African Development Bank Group (AfDB)’s efforts to improve sustainable energy supply and access in Africa took a leap forward with the Board of Directors’ approval of the Regional Rusumo Falls Hydropower Project. The Bank Group allocated US $97.3 million from the African Development Fund (ADF) and the Nigeria Trust…