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Investment

Golden Circle Tour Kisumu – August 11th 2018

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Gold Avenue Africa Invites you to Golden Circle Open Day Kisumu on Saturday August 11th 2018.

Golden Circle is a Gathering of Investors, Professionals as well as Entrepreneurs who come together to engage, share breakfast together and dialogue on an investment conversation.

The aim is to gather investors together for the purpose of exploring high growth investment opportunities in a fast changing economy as well as networking with the aim of enhancing Trade & Investment.

Invite your Chama, family, friends and business associates to attend.

Call/WhatsApp/SMS 0723615197 and book your spot today.

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Investment

Kibo Motorcycles Now Available in Kisumu

Kibo – #GoDo

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A Nairobi-based motorcycle manufacturer, Kibo Africa Ltd, has launched a sales centre in Kisumu with its first bike model, Kibo K150. The Mombasa Road based firm Thursday said the model is engineered for African roads, with training support as well as safety equipment and services.

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Development

KPC Signs Deal to Construct Oil Jetty in Kisumu

The jetty will turn Kisumu into a focal point of oil & gas commerce in the region and one of the busiest inland ports in Africa.

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The lakeside city of Kisumu could soon become a hub for the trade of oil products in east Africa, following the signing of an agreement that will ensure the construction of an oil jetty in the county. The agreement, signed between the Kenya Pipeline Company and the Southern Engineering Company – SECO will see the jetty constructed in six months at a cost of 1.7 billion shillings.

Southern Engineering Company is a 60-year old Kenyan company, specialising in engineering works.

SECO, a flagship company of Alpha Group’s marine division, will commence the construction this month and is set to complete the venture within six months.

This was after a competitive selection process that involved six local and foreign bidders.

Read Also: Oil Jetty planned for Kisumu

KPC managing director Joe Sang said the jetty’s completion will increase the pipeline’s competitive edge in the region as the leading oil transporter.

“The oil jetty’s target market will create an integrated marine fuel transportation in the region.”

“This will make it more efficient and commercially viable as well as reduce transportation costs for oil marketing companies,” Sang said.

The oil jetty’s target market will be around the lake and expanding the export market into Uganda and mines in northern Tanzania.

The project is expected to boost throughput in Kisumu by 1 billion litres a year in phase 1 and up to 3 billion litres per year by 2028.

“The jetty has been made possible following the completion of the new Sinendet-Kisumu pipeline,” Sang said.

“The line has enhanced petroleum product availability in western Kenya and the export market of Uganda, Eastern DRC, Rwanda, Burundi and Northern Tanzania.”

The pipeline, KPC says, has increased product flow to Kisumu depot to 350,000 litres per hour from the previous 110,000 litres per hour.

Sang said the jetty project will also turn Kisumu into a focal point of oil and gas trade in the region making it one of the busiest inland ports in Africa.

“KPC remains focused on becoming a major regional player supporting regional growth by lowering the cost of doing business.”

KPC in January 2017 placed a notice in the dailies inviting companies to tender for construction of the Kisumu oil jetty.

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Investment

Kisumu Concrete Products and Ascent Capital Inks an Equity Purchase Agreement

The KCP-Ascent deal could open up Western Kenya for investment opportunities in Kisumu and the region.

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Kisumu Concrete Products (KCP) Ltd has today signed an equity purchase agreement with Ascent Capital Advisory Services.

The firm, which deals in tiles, concrete blocks, kerbs and road culverts as well as ballasts for road construction, said this was its first private equity deal in the region.

KCP, established in 1978, has actively been supplying roofing and flooring tiles as well as concrete blocks to housing developers and ballast to local and foreign road contractors, helping improve its revenues across western Kenya.

The KCP-Ascent deal could open up Western Kenya for investors in search of investment opportunities in Kisumu and surrounding counties.

Staff at work at the KCP Workshop along Kisumu-Kakamega Road

“This private equity investment is timely given the rapid population growth and the introduction of a devolved governance system in Kenya, which has led to increased demand for housing and improved infrastructure construction materials in Western Kenya,” it said.

The deal comes hardly a month after Kisumu hosted an international investment conference and exhibition last month that was attended by small and medium firms from 12 counties in the region.

The conference also attracted 12 international exhibitors as well as investors from US, Europe and Asia besides local multinationals and private equity investors.

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