WB cooperates with Chinese firm to develop low-cost houses in Africa
NAIROBI - The World Bank's private sector arm, the International Finance Corporation (IFC), on Friday inked a new partnership with Chinese construction and engineering company to develop low-cost houses in three African countries.
IFC and CITIC Construction Co., Ltd will set up a joint venture and inject 300 million U.S. dollars to develop 30,000 homes in Kenya, Rwanda and Nigeria in the next five years.
"As Sub-Saharan Africa becomes more urbanized, the private sector can help governments meet the critical demand for shelter," IFC director for Eastern and Southern Africa, Oumar Seydi told a news conference in Nairobi.
3rd TPAE 2015--A must attend theme park exhibition
TPAE--short for China Guangzhou International Theme Parks & Attractions Industry
Exhibition, will be held during May 9th - May 11th, 2015 at China Import &
Export Fair Pazhou Complex B.
TPAE2015 Exhibition Scope:
Amusement Machines, Video Games and Internet Games
Computer Systems/Software; Digital Entertainment Center Products
M&M bets big on Africa, opens business unit
Indian automobile manufacturer Mahindra & Mahindra (M&M) has opened a business unit in Africa with a view to capitalizing on the emerging market opportunities in the continent.
The company, which has opened its local office in South Africa, will come up with three more similar units in Egypt, Nigeria and Kenya. The new additions will work with local companies and employees.
Playing the role of internal distributor for the carmaker, the unit will cater to the company's requirement in connection with two-wheelers and trucks.
Kenya ranked eighth largest global geothermal producer
The injection of additional 280 megawatts produced in Olkaria to the national grid in December has lifted Kenya’s global ranking as the eighth largest producer of geothermal energy, a new study shows.
Kenya’s installed steam power capacity now stands at 579MW, ahead of giant economies such as Japan, Russia, China and Germany – according to a study presented to the World Bank by state-owned KenGen.
The US remains the world’s top geothermal producer with an installed capacity of 3,389 MW – nearly six times Kenya’s output – followed by Philippines (1,894MW), Indonesia (1,333MW), Mexico (980MW) and Italy is fifth with 901MW of steam power. New Zealand is graded sixth with 895MW ahead of Iceland (664MW).
