Nairobi Business Ventures Eyes 25 Leather in Under Five Years

Shoe store

 Nairobi Business Ventures (NBV), a leather products retail chain operating under the brand name KShoe, has embarked on an accelerated expansion drive that will see it roll out more than 25 stores in less than five years as it prepares to venture into leather products manufacturing.

Speaking when the retailer opened its 5th shop at T-Mall, Lang'ata Road, the KShoe Executive Chairman, Vasu Abotula said they are speeding up the expansion to benefit from the Government's 10-year industrialisation plan.

"We are venturing into manufacturing in the near future and these outlets will serve as an elaborate distribution network for our leather products," said Vasu.

Read more: Nairobi Business Ventures Eyes 25 Leather in Under Five Years

Indian cement firm to build West Pokot plant next year

West Pockot

Construction of the long-delayed Sh10 billion Indian-owned cement processing factory at Sebit-Ortum in West Pokot County is set to begin in January next year, the company announced on Tuesday.

Cemtech Limited general manager Diptish Nandha said the company has now settled issues that have delayed commencement of the project over the past five years.

Mr Nandha was speaking after meeting West Pokot County Governor Simon Kachapin.

"We have solved the major two problems; one was the quality of limestone content which our experts have successfully managed to solve so we can now produce quality limestone. Our engineers have also managed to solve issues concerning the location and access to the plant," said Mr Nandha.

Read more: Indian cement firm to build West Pokot plant next year

Inside Kenya’s 10-year Manufacturing Dream

kenya manufacturing

Kenya has launched an ambitious 10-year plan to revive the manufacturing and industrial sector, which is hoped to generate one million new jobs.

The blueprint will also see the creation of an industrial development fund, industrial parks along infrastructure corridors, and support the agro-processing, textile and mining sectors, among others.The plan developed by the Ministry of Industrialisation and Enterprise Development is expected to pump an additional Sh200-Sh300 billion into the economy in the next five years.

Read more: Inside Kenya’s 10-year Manufacturing Dream

Malindi Airport Records its First International Fish Exports to China

Fish-590

Malindi Airport marked its first international cargo export on Monday after consignment of live sea fish was airlifted from here en route to China via Nairobi. Global Focus Logistics Limited Company in partnership with Kenya Airways begun exporting live lobsters and crabs from the Malindi international airport to China with more exports scheduled for other parts of the world.

The containerised sea products will at the initial stages be ferried by the KQ's passenger flights before being handed over to the cargo planes to be flown to their final destinations. The voyage originating from Malindi and passing through Nairobi would take 24 hours for the fish cargo to reach China.

Read more: Malindi Airport Records its First International Fish Exports to China

Government Launches New Website to Market Kenya to Investors, Tourists

ke-pic

The government has launched an online platform aimed at reinvigorating Kenya's image as a vibrant home of warm people of diverse cultures that has an array of opportunities for investors and tourists.

East Africa, Trade and Tourism Cabinet Secretary Phyllis Kandie said the makeitkenya.com website was now the official portal that gives Kenyans and visitors an all-round view of Kenya as a country that is now taking the world by storm.

"All Kenyans must be ready to boost their image to the world positively especially now that Kenya enjoys the biggest web traffic since President Obama's visit.

Read more: Government Launches New Website to Market Kenya to Investors, Tourists

World Bank Lending Arm Pledges Sh87bn for Projects This Year

Tea

The International Finance Corporation (IFC), the World Bank Group's private sector lending arm, has committed a portfolio of Sh87 billion for projects in Kenya this financial year ended June 30, the second highest for sub-Saharan Africa after Nigeria.

The allocation is a marginal increase of 2.6 per cent from 2014 when IFC committed Sh84.8 billion, its annual report for 2015 indicates.
The agency mainly invests in infrastructure, agribusiness, health, education and financial services in Africa.

Read more: World Bank Lending Arm Pledges Sh87bn for Projects This Year

Kenya’s Cooperative Movement Set for Profile Boost

Coop

The Kenyan co-operative movement is set for a major profile boost when it hosts the African Confederation of Co-operative Savings and Credit Association (Accosca) conference next month.

The event, which is being held in Kenya for the first time, is expected to bring together at least 1,000 players in the sector from 30 countries. The conference has previously been held in South Africa, Lesotho, Uganda and Swaziland. It will be hosted in the coastal town of Kwale from October 26-30, and is aimed at deepening the co-operative movement's growth in Africa. Kenya is ranked one of the leading economies in the continent as regards its co-operative culture, with the fourth-highest penetration at 19.02 per cent, and 1,995 saccos at the end of 2013, according to the Sacco Societies Regulatory Authority. According to Accosca's chief executive, George Ombado, the conference is a vote of confidence in the gains the country has made.

Read more: Kenya’s Cooperative Movement Set for Profile Boost

German Firm in Deal to Build Kenya Assembly Plant

grader

A local company has partnered with a German heavy machinery maker in a Sh23 billion venture that will see the assembly of road construction and agricultural equipment done in the country.

Bico, which is registered in Kenya, has partnered with Liebherr to build an assembling plant in Nairobi starting end of the year.

Bico founder Andrew Malunga said the company has set a target to produce at least 30 units a month comprising of earth movers, water drilling machines and farm machinery such as tractors.

The investors have an eye on county governments as their main customers.

Read more: German Firm in Deal to Build Kenya Assembly Plant

Kenya Unveils Grand Industrialisation Roadmap

SC

Kenya on Wednesday unveiled a grand industrialisation roadmap that seeks to make Mombasa a food processing hub targeting the export markets even as it locks in the billions of dollars East African nations spend on imports.

Industrialisation minister Adan Mohamed said the plan had identified critical sectors that would drive the sector's growth through mechanisation.

The minister said Kenya would use the plan to earn a significant fraction of the Sh400.4 billion ($3.8 billion) that East Africa spends on processed food imports.

"We want to take advantage of the Mombasa port to serve the regional and global markets with processed food," Mr Mohamed said during the launch of the blueprint in Nairobi.

Read more: Kenya Unveils Grand Industrialisation Roadmap

New Laws to Improve Kenya's Business Environment

uhuru-kenyatta-companies-bill-2015

President Uhuru Kenyatta on Friday assented to several business bills geared to make the economy more business friendly. A statement from Kenyatta's office said the new acts include the Companies Act, the Insolvency Act and the Special Economic Zones Act, the Business Registration Service, the Companies and Insolvency Legislation (Consequential Amendments) Act 2015 and Finance Act amendments 2015.

The new laws will make it possible for one person to set up a company whereas in the past it was a requirement to have two people to register a company. The new laws also remove the condition that small companies should have a company secretary just like big firms, as well as the removal of the requirement that private firms should have an annual general meeting each year.

Read more: New Laws to Improve Kenya's Business Environment

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