Kenyan counties seek to drive industrial growth

At least 2,350 acres of land will be set aside in all the counties for the establishment of industrial development and promotion of the informal sector. The Council of Governors chairman Isaac Ruto, has said that each county government will allocate 50 acres for the industrial parks in their respective areas.

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Bill seeks to create fund to boost industries

A Bill will be introduced in the Senate seeking to set up a special fund to finance development of industries in all the 47 counties to generate jobs and lift people out of poverty.

Sponsored by Nyandarua Senator Muriuki Karue, the Bill proposes to create County Industrial Development Fund in which donors and the National Government will avail funds for industrial undertakings in the counties.

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Kenya to mobilize funds for industrialization

Planning Cabinet Secretary Ann Waiguru told journalists in Nairobi that this will help to bridge the financing gap that is currently constraining industrialization in the country.

"The government intends to establish an Industrial Development Fund for long-term financing so as to increase the share of Foreign Direct Investment (FDI) in industrial sectors by 10 per cent in the next five years," Waiguru said during the launch of the 2014 Edition of the Economic Report on Africa.

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Magadi Soda Ash Plant to Sack 200

ABOUT 200 employees working in the Premium Ash Magadi plant will be laid off from October in a planned closure of the facility, Tata Chemicals Magadi Limited has said.

The management said the anticipated job loss are occasioned by high operating costs in the manufacture of soda ash which led to the restructuring proposal, also known as mothballing.

"The restructuring proposal of this facility follows a comprehensive review of alternatives to improve plant performance such as efforts to reduce energy cost,

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