Afternoon business highlights – January 15, 2018

Afternoon business highlights – January 15, 2018

Urban Development Ministry in Ksh 2.6 trillion plan to build 1 million houses

Kenya’s Housing and Urban Development Ministry has shortlisted 35 firms to partner with the government in building 1 million houses over the next five years at a cost of Ksh2.6 trillion. Transport, Infrastructure, Housing and Urban Development Cabinet Secretary James Macharia says the government will leverage on the private sector to source the funds and execute the project. The Cabinet Secretary said that a total of 60 construction companies from the private sector had come forward to be part of the project with the ministry shortlisting 35 based on merit.

Bwala Africa app to link Kenyans to trusted mechanics

Bwala Africa, a new mobile phone application has been launched to facilitate motorists and travellers with their logistical needs. The platform is aimed at allowing Kenyans as well as tourists to hire cars, source repairs, service and maintain by linking motorists with trusted and accredited mechanics and spare parts dealers. The Sh80 million project will also have a database of tours and travel vans and minibuses for hire. “This is a one-stop shop for motor vehicle needs. It is cost-effective to get rides, be it self-drive or driven, spare parts, accredited mechanics to fix your car wherever you are across Kenya, as well as reliable petrol stations,” Bwala Africa CEO Kennedy Nyabwala said during the launch.

Energy Ministry revives plans for natural gas plant

The Ministry of Energy has revived plans to build its first natural gas-fired power plant in Mombasa after dropping the project in 2016. Energy secretary Charles Keter has initiated fresh talks with the Treasury in preparing a financing structure for the 700-megawatt (MW) power plant that the government seeks to implement together with a private investor under the public-private partnership model. In 2016, the ministry dropped the liquefied natural gas (LNG) power project in Dongo Kundu, Mombasa, which was estimated to cost Sh130 billion.

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