Business
Kenya’s FDI from Dubai hits US$253m – The Herald
Kenya’s FDI from Dubai hits US$253m
Kenya’s stock of foreign direct investments (FDIs) from Dubai hit US$253 million (Ksh38.3 billion) in the five years to June 2023, data by the Financial Time’s investment tracker fDi Intelligence shows, signalling growing deals in key sectors such as food processing, financial services, IT and software.
Mohammad Ali Rashed Lootah, president and CEO of Dubai Chambers, said the FDI is projected to grow significantly as more firms from the Gulf nation eye Kenya deals.
“We always believe that trade and investment give a positive value and more companies in Dubai are targeting deals in Kenya,” he told Business Daily in Nairobi on Wednesday on the sidelines of a trade meeting between Dubai and Kenyan firms.
“We have had meetings with Ken Trade (Kenya Trade Network Agency) as well as various business groups in Kenya and they have pointed us to various bankable investment opportunities,” he said.
“We brought 19 companies from Dubai to Kenya for business matching meetings and I certainly know they will pick up opportunities because Kenya is an important market.”
Mr Lootah said that the value of non-oil bilateral trade between Kenya and Dubai grew seven percent to $2,1 billion (Ksh318,28 billion) last year, compared to the previous year.
Kenya has registered investment deals by Dubai firms in key sectors, including financial services, telecoms, foods and beverages, industrial equipment, transport and storage, and software and IT services. – The East African
For example, the Treasury Cabinet Secretary Njuguna Ndung’u in October announced that the United Arab Emirates UAE-based Infrastructure Corporation of Africa LLC (ICA) will take over 60 percent of shares in Telkom Kenya from private equity firm Helios after a competitive process.
In the same month, the CS revealed a bid by Pioneer General Insurance, a firm co-owned by three Dubai-registered entities, to buy Sidian Bank shares worth Ksh1,9 billion (US$12,5 million) and control 20 percent of the lender.
Barely a week ago, two Dubai firms announced plans to enter the dairy and construction sectors in Kenya.
Another Dubai-based food, and beverage company, Nutridor, revealed its plans for a new US$15 million (Ksh2.25 billion) processing plant for dairy products such as cheese and butter, targeting Kenya and Tanzania.
Nutridor has customers in more than 15 countries and the six oil-producing nations under the Gulf Corporation Council including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arabs Emirates. The East African
Business
Breaking news – Chronicle
FlyNamibia adds Zimbabwe route
FlyNamibia has announced it will, from April next year, launch flights between Windhoek and Victoria Falls to operate on Tuesdays, Thursdays, and Saturdays between Hosea Kutako International Airport and Victoria Falls International Airport.
The new route is a key element in Zimbabwe’s regional network expansion strategy, FlyNamibia managing director Andre Compion said.
It will also enhance regional connectivity, promote tourism within Namibia and position Windhoek as an alternative gateway to the region.
FlyNamibia’s partnership with Airlink will give it access to the GDS, which will allow it to promote its new flights and packages to markets that were previously beyond reach. The airline is also planning to unveil new routes to Botswana and Angola in the future.
The new flights will effectively more than triple FlyNamibia’s current schedule of regional flights. Compion also revealed that the airline was entering the final phase of preparations for the introduction of flights to Luanda, Angola.
FlyNamibia is a Namibian private airline that mostly plies domestic routes from Eros Airport in Windhoek to Ondangwa, Rundu, Katima Mulilo, Lüderitz, and Oranjemund.
The airline also has a regional route between Hosea Kutako International Airport and Cape Town International Airport. The airline recently became a member of IATA.
This membership will give FlyNamibia access to a number of benefits, including global recognition and acceptance, access to IATA’s global network of airlines and travel agents, and support with marketing and sales.— Business Weekly
Business
Breaking news – Chronicle
FlyNamibia adds Zimbabwe route
FlyNamibia has announced it will, from April next year, launch flights between Windhoek and Victoria Falls to operate on Tuesdays, Thursdays, and Saturdays between Hosea Kutako International Airport and Victoria Falls International Airport.
The new route is a key element in Zimbabwe’s regional network expansion strategy, FlyNamibia managing director Andre Compion said.
It will also enhance regional connectivity, promote tourism within Namibia and position Windhoek as an alternative gateway to the region.
FlyNamibia’s partnership with Airlink will give it access to the GDS, which will allow it to promote its new flights and packages to markets that were previously beyond reach. The airline is also planning to unveil new routes to Botswana and Angola in the future.
The new flights will effectively more than triple FlyNamibia’s current schedule of regional flights. Compion also revealed that the airline was entering the final phase of preparations for the introduction of flights to Luanda, Angola.
FlyNamibia is a Namibian private airline that mostly plies domestic routes from Eros Airport in Windhoek to Ondangwa, Rundu, Katima Mulilo, Lüderitz, and Oranjemund.
The airline also has a regional route between Hosea Kutako International Airport and Cape Town International Airport. The airline recently became a member of IATA.
This membership will give FlyNamibia access to a number of benefits, including global recognition and acceptance, access to IATA’s global network of airlines and travel agents, and support with marketing and sales.— Business Weekly
Business
Breaking news – Chronicle
Vice President Mohadi officially opens the Zimbabwe Institute of Strategic Thinkers Annual Conference
Mthabisi Tshuma, Online Writer
VICE President Kembo Mohadi has officially opened the 2023 Zimbabwe Institute of Strategic Thinkers Annual Conference at a local resort in Nyanga.
The event is being attended by Manicaland Provincial Affairs and Devolution Minister Advocate Misheck Mugadza, Deputy Minister of Industry and Commerce Roy Bhila, Deputy Minister of ICT, Postal and Courier Services Dingumuzi Phuti, Zimbabwe Institute of Strategic Thinkers Annual Conference leadership and players from various business sectors.
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Book Review-The Day Salisbury Fuel Tanks were set ablaze, December 11, 1978
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