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 Seeks To Raise Sh1.8tr For Infrastructure
The Government is looking to raise Sh1.8 trillion through the public-private partnership framework to fund 69 projects. According to the PPP Unit of the National Treasury, the funds will be sourced from local and foreign investors, and will be channelled towards planned projects in the transport, energy, education, water and sanitation, and health sectors. PPP Unit Director Stanley Kamau said the money at the Government's disposal is not enough to implement all infrastructure development plans. The Second Medium Term Plan (MTP II) estimates the country's infrastructure spending need at $4 billion (Sh376.6 billion) per year, but faces a deficit of between $2 billion to $3 billion (Sh188.3 billion to Sh282.5 billion). Kamau said the PPP model is expected to help bridge this gap.