World Business News

The construction of an ultramodern centre at the University of Nairobi in memory of Nobel Laureate Wangari Maathai has kicked off in Kenya.
The Institute estimated to cost US$1.4 billion has been designed by South African firm dhk Architects.
Kenya’s President Uhuru Kenyatta this week laid the foundation stone for the Wangari Maathai Institute for Peace and Environmental Studies at the university.

Kenya has launched the dualisation of road that will see the road, notorious with traffic jams expanded. The road dualisation project is expected to cost around KSh1.3bn(US$13m).

Ngong road is known for being one of the most congested roads in Nairobi County. A commuter can take several hours before reaching the city centre.World Bank reports that Nairobi loses up to Sh12 billion on monthly basis due to traffic jams.

A consortium of four lenders have unveiled plans to build a total of 20,000 housing units for police in an arrangement that will see the government of Kenya make periodical payments to the financiers over a period of up to 15 years.

These housing units, which will include one bedroom, bed sitters and three bedroom units, will cost roughly between Sh18 and 20 billion in a mega homes project funded by tax payer and expected to take four years.

Kenya’s paper maker Pan Paper Mill factory will now reopen in mid September, General Manager Y. V Choudray has confirmed. The paper factory located in the western part of Kenya has been facing challenges in acquiring new machinery and upgrading thus pushing back the re-opening date.