Saudi Arabia’s Public Investment Fund (PIF) has agreed to buy a 10% stake in Heathrow airport from Spanish infrastructure giant Ferrovial. Another 15% in its parent company, FGP Topco, will be sold to French-based private equity fund Ardian. Ferrovial, which has owned a stake since 2006, announced that the deal was worth £2.37bn ($3bn). The […]
Trade ministry has encouraged on all agencies and corporations under its wing to collaborate in delivering programmes targeted under the Bottom-up Economic Transformation Agenda. Speaking during the signing of performance contracts with the principal secretaries, Trade, Investment and Industry Cabinet Secretary Rebecca Miano said building synergies in delivering the agenda will guarantee the country the […]
The National Treasury and Economic Planning ministry has published a list of 11 State Owned Enterprises it seeks to finalize their privatization by the end of the year. According to Treasury, the privatization and restructuring of the firms is expected to help the government raise additional revenue, cut demand for government resources by the firms, […]
…Restructuring to pave the path for strategic growth and enhanced value. ILAM Fahari Real Estate Investment Trust unitholders have approved the proposed operational restructuring and the delisting of the REIT from the main investment market segment of the Nairobi Securities Exchange (NSE). The unitholders approved all the resolutions recommended by the REIT Manager and approved […]
The government has listed 11 state companies for privatization in line with the Privatization Act 2023. In a statement on Monday, National Treasury CS Prof Njuguna Ndung’u asked Kenyans to share their concerns on the Privatization Programme before close of business today. “Pursuant to the Constitution, the Privatization Act 2023 and all other relevant legislation, […]
Digify Africa has rolled out an online training programme to boost digital literacy levels among the youth in Kenya. The digital marketing skills course, DigifyPro, launched in Nairobi at the weekend is aimed at equipping the youth with digital skills and competencies to help them start and grow careers in the new digital economy. It […]
Chinese officials have launched an investigation into one of the country’s biggest shadow banks, which has lent billions to real estate firms. Zhongzhi Enterprise Group (ZEG) has an asset management arm that at its peak reportedly handled more than a trillion yuan ($139bn; £110bn). Authorities said they are investigating “suspected illegal crimes” against the firm, […]
Stakeholders in the electricals, electronics, and related technologies field have been urged to embrace the use of established International Electrotechnical Commission (IEC) standards to gain a competitive edge in the global market, thus driving economic growth and innovation. Speaking during a stakeholders’ luncheon hosted by the Kenya Bureau of Standards (KEBS), The Kenya National Committee […]
The new distributor for Ford Motor Company in Kenya, Caetano Kenya, has officially opened a Ford Showroom on Mombasa Road, where they will be selling and servicing Ford vehicles. The new partnership between Ford and Caetano offers the brand a vital opportunity to gain market share in Kenya by leveraging on Caetano’s extensive network and […]
Kenyans can now access affordable locally assembled smartphones following the launch of the state-of-the-art East Africa Device Assembly Kenya Limited, located in Athi River. The device assembly factory was set up as a joint venture of local Mobile Network Operators and International device manufacturers. The devices which will be available countrywide at Faiba shops and […]
CyberPro Global has partnered with the University of Nairobi and the Kenya School of Government to help bridge the skill gap in cybersecurity in Africa and secure the county’s digital future. CyberPro Global Interim Chairman Noah Muna said they plan to offer cybersecurity education and advocate for a safe cyber space considering both the private […]
Shelter Afrique Development Bank (ShafDB) has extend a line of credit to the tune of Ksh 1.8 billon ($12m) to Vista Bank Guinee SA to support housing development in the Republic of Guinea. The Conakry-based Vista Bank Guinee SA will use the new funds to finance real estate developers and construction companies involved in the […]