Kenya pulls Sh325b in private funding
German heavy machinery make Liebheer is setting up a SH23 billlion> Kenya registered the highest number of regional private equity (PE) deals last year, defying a volatile exchange rate environment and high interest rates. According to data from the African Private Equity and Venture Capital Association (ACVA), Kenya remained a favourite in terms of the value of deals signed in East Africa. Out of a total deal value of $4.5 billion (Sh450 billion) spread across Kenya, Tanzania, Ethiopia, Uganda and Rwanda last year, Kenya accounted for 71 per cent of the financing, raking in $3.25 billion (Sh325 billion) in paid capital and enterprise value. “East Africa has made significant strides in recent years to become a region that facilitates ease of business and investment across its borders,” the report said. “The results of this emphasis are clear to see in the value of deals done, that have a regional focus rather than a single country within East Africa.” It added, however, that the number of single-country deals still exceeds regional deals, indicating that larger deals tend to be regionally focused, while smaller deals are single-country focused. |
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Kenya leads region in construction projects |
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Dow Chemicals: we are here to help spur Kenya's manufacturing sector Kenya needs to invest more in reliable energy and infrastructure to spur growth in the manufacturing sector. Ross McLean, the Africa president at Dow Chemical Company, a US multinational that manufactures specialty chemicals, said Kenya is well placed to do this as it is endowed with access to a good market given its economic dominance in East Africa. The availability of human capital also gives the country an advantage against its sub-Saharan Africa peers, Mr McLean added. “A robust manufacturing sector will create a multiplier effect that will lead to job creation,” he said at a stakeholders’ forum in Nairobi last week as the company sought to make its presence in the country known. Dow has been in Kenya for five years, but its business-to-business model has seen it largely lurk in the shadows, as it does not directly interact with retailers. |