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Week commencing 29 May 2017
CGCOC Group, a Chinese construction firm, has concluded a contract with Addis Ababa International Convention and Exhibition Centre for the construction of the first phase of its new centre at a cost of $1.1bn. The entire centre is to be built in two phases at a total cost of $2.7bn.
2merkato.com 24 May
The Competition Authority of Kenya has approved the buyout of Centum’s 26.43% stake in the state-owned Kenya Wine Agencies by South Africa distiller, Distell. The deal, estimated at $9.7m, means foreign firms now own 52.43% of Kenya Wine Agencies.
Daily Nation 23 May
Uganda has been allocated $168m by the International Fund for Agriculture Development (IFAD) for rural transformation through agriculture. The allocation is aimed at enabling rural farmers to access long-term loans. IFAD has 45 projects in 22 countries in the region with the total portfolio of $1.7bn.
Daily Monitor 24 May
Eneo, the public service company in the electricity sector that is owned by British investment fund Actis, has signed a contract with independent power producer Aggreko to install a thermal plant in the northern town of Maroua. The plant will help in reducing the energy deficit in three northern regions of Cameroon.
Business in Cameroon 20 May
Marriot International has signed an agreement with British firm Pennyroyal Gibraltar to develop the Ritz-Carlton brand in the Zanzibar archipelago. Slated to open in 2021, the 90-room all-suite and villa resort will be located 45 minutes from Zanzibar International Airport.
Daily News Tanzania 23 May
The government of Rwanda and India Export-Import Bank have signed a financing agreement worth $81m to support the establishment of an integrated technical and vocational educational and training system. The agreement will help accelerate government efforts to improve the quality of technical education.
The New Times 25 May