Venue: KICC, Nairobi, Kenya
Dates: 05 - 07 June 2024
Timing: 10.00 am to 06.00 pm
Business Visitors Only
Kenya has a well-developed building and construction industry with quality engineering, building and architectural design services being readily available. This industry is currently on an upward trend following re-habilitation and reconstruction of roads and bridges etc.
With increase in population, and growing demand for affordable housing, opportunities exist in the construction of residential, commercial and industrial buildings including prefabricated low-cost housing. Investors can also manufacture and supply construction materials and components for the sector.
Developing nations need Sh13 trillion geothermal investment by 2030
Kenya and Turkey have exceeded forecasts for harnessing geothermal energy, but other developing countries, including Indonesia and the Philippines, are lagging behind on leveraging the renewable power source, a new analysis shows.
If developing nations are to carry out the planned expansion of geothermal energy capacity, $133 billion (Sh13.7 trillion) needs to be invested in the sector by 2030, the Climate Policy Initiative (CPI) research group reported on Wednesday.
Meeting the target to build 23GW of geothermal capacity over the next 15 years (one GW is enough energy to power 750,000 homes) would require a 7- to 10-fold increase in funding from governments and development financing bodies, the CPI said.
Simba Corporation in Sh161m vehicles supply deal
Simba Corporation, owners of auto dealer Simba Colt Motors, Thursday got a boost from a Sh161 million order for 46 Mitsubishi staff vehicles by Vivo Energy — which trades in Kenya as Shell.
The acquisition of the SUVs (worth Sh3.5 million per unit) is on an operating lease arrangement. The deal, signed Thursday in Nairobi, will see Shell access a four-year tailor-made vehicle leasing deal and an eight-year lubricants supply contract.
“Faced by a desire to minimise transport costs, leading local companies and public sector institutions are fast turning to leasing solutions that are proving to be cost effective,” said Polycarp Igathe, the Vivo Energy Kenya Managing Director, during announcement of the deal.
Kenya edges closer to adoption of nuclear power
You may soon begin using power generated from nuclear sources as Kenya engages speed gear in the establishment of a nuke plant.
The plan is set to diversify Kenya's electricity generation mix.
An 11-member team of experts from the International Atomic Energy Agency are in Nairobi for feasibility analysis on critical areas on the investment and advise the country accordingly.
Energy and Petroleum Principal Secretary Joseph Njoroge said the country’s population was growing fast and the available energy sourcing options were fast depleting hence the decision to go nuclear.
Nairobi investors now eyeing Coast
Nairobi-based real estate and equity firms have expressed interest in investing at the Coast, a market that has in the recent past been shunned by investors due to security concerns.
Fusion Capital, a real estate developer and financier, and private equity firm Cytonn Investments, are some of the companies that are putting their money in the coastal region.
While Fusion has competed the first phase of a Sh1.3 billion project, Cytonn intends to invest Sh5 billion in a number of properties including apartments, shopping malls and residential housing.
Kenya eyes Sh200bn in foreign investment
Kenya projects a doubling of foreign direct investment this year to over Sh200 billion on the back of renewed investor interest and confidence in the country.
Speaking at the Kenya-Japan investment forum in Nairobi, Kenya Investment Authority (KIA) Managing Director Moses Ikiara, said the improving business environment coupled with recent and planned high profile investment forums continue to attract investors.
“The FDI is growing very strongly. This year, we expect FDI inflows to grow by more than 100 per cent because of an improved business environment,” he said.
Oil explorer Erin secures contract extension
Erin Energy, an oil exploration company that has interests in Lamu Basin, has been given permission by the government to proceed to the next stage of exploration which will include drilling an exploration well by the end of 2017.
The company has four blocks that are located in the Lamu basin and has finished the first stage of work on its onshore blocks.
Erin was also supposed to have finished the first phase of exploration work on its offshore blocks by August 8 but requested the energy ministry to give it a two-year extension.
Firm sets up Africa’s largest biogas plant
A Sh765 million biogas plant being set up in Naivasha will generate 2.2 megawatts of power when in operation.
Speaking at the commissioning of the project on Friday, Tropical Power managing director Johnnie McMillan said the new anaerobic digester (AD) will sell 50 per cent of its electricity to Gorge Farm and the balance to Kenya Power for hook into the national grid.
Mr McMillan said 50,000 tonnes of organic waste will be consumed per year by the plant.
“More than 35,000 tonnes output from the process could be used as rich, natural fertiliser to improve the crop yield for local farms,” he said.