IFC to invest Sh8.2b in beverage can factory on Nairobi’s Mombasa Road
The International Finance Corporation (IFC) will invest Sh8.2 billion in a can factory to be set up on the Nairobi-Mombasa highway by Nigeria’s GZ Industries.
IFC, the World Bank Group’s private lending arm, announced the planned equity investment in a disclosure document released on Thursday.
Once completed, the multimillion-shilling factory, which will primarily produce aluminium beverage cans, is expected to provide 220 direct permanent jobs and more indirect jobs in the local supply chain in sectors such as logistics and transportation, maintenance and other support services.
Dow Chemical seeks to triple Africa revenue in five years
Dow Chemical Co plans to triple its revenue from sub-Saharan Africa in the next five years and is investing in offices, local staff and manufacturing plants on the continent to meet that target, its head of the region said.
The company sees opportunities in agriculture, where it supplies crop protection chemicals, infrastructure, where it offers water treatment chemicals, as well as in mining and manufacturing.
“Dow is absolutely betting on Africa’s growth.” – Ross McLean, President, Dow Chemical Sub-Saharan Africa
“We expect to triple our revenue from Africa over the next five years. That is our objective and we are on track to do that,” said Ross McLean, President for sub-Saharan Africa.
Duma Works launches recruitment services for agribusinesses
Kenyan online and SMS-based recruitment platform Duma Works has announced the launch of an affordable hiring and employment package specifically catering to local agribusinesses.
Citing the fact that the agricultural sector in Kenya is a key contributor to the country’s economy and accounts for 60 per cent of total employment, Duma Works said the majority of this economy – around 80 per cent of it is not formalized and thus excluded from professional hiring services and employment agencies.
This realisation prompted the move by Duma Works to offer low-cost recruitment services to the agricultural sector, with the company offering agribusinesses a 40 per cent discount per hire on Duma Works’ basic plan, and a 60 per cent discount on its advanced plan.
Newly constructed Weetabix East Africa plant in Kenya opened
The Newly constructed Weetabix East Africa plant in Kenya has been opened in the capital Nairobi. The move is aimed at increasing production capacity as well as enhancing efficiency.
The new plant which cost US$ 2.5m has the potential of generating up to 60 per cent of the company’s produce.
Managing director Mr. Ahsan Manji launched the new plant while marking the company’s 40th anniversary in Kenya.
“The recently unveiled capacity upgrade project was completed at a value of US$ 2.5m. It involved new plant equipment – giving us 60 per cent more capacity, automation of some sections of the plant and a new office wing. Furthermore, we have also installed a 1,000 tonne wheat silo that will improve our productivity,” said Mr. Manji.
