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Africa Agriculture News
African equity fund invests in Kenya's General Plastics:
An African investment fund specializing in agriculture has invested in Kenyan packaging firm General Plastics Ltd. to provide funds to expand in the region, the companies announced Jan. 28. GPL, which employs 900 people at two injection and blow molding factories in Nairobi, said the investment from the African Agricultural Fund and fund manager Phatisa will let it tap into growing demand for food packaging. “The partnership with Phatisa will allow us to reinforce our plans to expand into the region,” said Rashik Shah, founder and managing director of GPL. . ( Plastic News dot com).
Kenya Year in Review 2014:
A strong performance from traditional industries such as agriculture and increased spending in infrastructure and service sectors allowed Kenya to notch up solid growth in 2014, while a rebasing exercise in September has helped better capture the economy’s true size. Kenya is on course to post growth figures of 5.3%-5.5% for 2014 according to government estimates. Finance Minister Henry Rotich said in December that infrastructure spending would help lift economic growth to about 6.5% in 2015, against a previous forecast of 6.4% percent. This comes after a recalculation boosted GDP by 25% in 2013, from KSh3.8trn ($41.3bn) to KSh4.76trn ($51.7bn), earning Kenya middle-income-country status and a place on the list of the top 10 African economies.
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