Ufundi Cooperative Plaza, a 14-story high-rise building in Nairobi Central Business District is up for sale. This was after Justices Eric Obaga, Kossy Bor and Bernand Oboso of the Environment Court resolved an 11 years dispute between Ufundi Savings and Credit Co-operative Society Limited and its 14,999 members. The building located at the junction of Moi Avenue and Moktar Daddah Street is on a commercial plot of approximately 0.0546 hectares. (L.R. No.209/2571. Its approximate lettable area is 49,000 sq. ft, the Sacco said in its notice of sale with a leasehold title of 99 years with effect March 1, 1998.…
Author: Muindi
Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
SimpliFine, a Kenyan integrated food producer, has commissioned its Individual Quick Freezing processing line to expand the production of fresh French fries to offer frozen French fries. The company says this will reduce its reliance on imports. “SimpliFine launched its French fry business in 2021 and has built strong relationships with local suppliers and customers. We invested in new technology to produce quality French fries that serve a broader market in Kenya and the region,” said Steven Carlyon, the SimpliFine president for Kenya. SimpliFine is leveraging BigCold’s advanced supply chain management and operational expertise to ensure locally sourced quality food…
Estonian taxi-hailing firm Bolt, says it has raised $711 million in a new round of funding led by Sequoia Capital and Fidelity. The investment was also backed by Whale Rock, Owl Rock and some of Bolt’s existing investors. Bolt is now valued at about $8.4 billion up from nearly $4.8 billion. In an emailed statement, Bolt says part of the funds will be used to accelerate the expansion of its new and existing mobility and delivery products across Eastern African markets. “We continue to scale up our operations for the benefit of our customers and the communities in which we…
Power supply in Kenya was restored in parts of Nairobi, Mt. Kenya, North Rift, South Nyanza, Central Rift and Western Kenya after a four-hour nationwide blackout Tuesday. Kenya Power had earlier announced that the outage had been caused by a high voltage transmission line broke. https://twitter.com/KenyaPower/status/1480863397981872128?s=20 https://twitter.com/KenyaPower/status/1480890814108737543?s=20 https://twitter.com/KenyaPower_Care/status/1480903315307253762?s=20 The power outage elicited mixed reactions from a section of Kenyans who demanded that the public utility company which transmits, distributes and retails electricity to customers resolve the issue. This is because this was the third countrywide power blackout in four years -May 9, 2020, and January 9, 2018. According to Kenya…
Kenya is experiencing a national power outage after a high voltage transmission line connecting broke on Tuesday. “We have lost power supply due to collapsed towers on Kiambere – Embakasi high voltage transmission power line at 10:45 a.m.(0745 GMT) this morning,” Kenya Power said in a statement on its Twitter account. “Our engineers are working to restore electricity supply as the repairs are being undertaken. https://twitter.com/KenyaPower/status/1480821421324517380?s=20 https://twitter.com/JamalGaddafi/status/1480831932669833220?s=20 Kenya Power is state-controlled and it is the sole electricity distributor and the bulk of its power comes from Kenya Electricity Generating Company (KenGen). Kenya Power’s core business is transmission, distribution and retail…
Garden City Business Park is now at 93% occupancy following the CCI Group of companies leased office space at the business park. British private equity investor Actis, the developer of the Garden City Residences, Mall, and Business Park is set to bank $ 2 million from rent annually once fully occupied. The two tenants, CCI Group of companies, a leading Business Process Outsourcing (BPO) provider, and nutrition supplements distributer Max International represents the largest combined commercial lease transactions in Nairobi’s office market space during the pandemic. CCI and Max International combined are occupying 60% of Garden City Business Park’s almost…