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Nairobi to get cable cars to beat traffic jam

By Jacob Okwii.

In a move to decongest the roads and beat the habitually excruciating traffic jams in Nairobi, the Kenyan government has signed a contract with an Austrian company to construct infrastructure for cable cars.

The works to be undertaken by Doppelmayr Group starting in May this year, is worth Ksh5.8 billion ($57.2 million).

Works on Africa’s tallest building commissioned in Nairobi

Works for the construction of the tallest building on the African continent- the Pinnacle Towers in Nairobi, have been commissioned.  Standing at 900 feet (274 metres) the Tower will overtake the current holder of the title of the tallest building on the African continent- Johannesburg’s Carlton Centre. The Carlton Centre stands at 732 feet (223 metres), with 50 floors.

The mixed tales of East Africa’s national airlines

Sir Richard Branson, British business magnate and owner of Virgin Atlantic Airline once said: “If you want to be a millionaire, start with a billion dollars and launch a new airline." In other words, if you want to run an airline be prepared to spend billions of dollars, to earn millions- brace yourself for losses.

Kenya leads East Africa in upmarket retail space

Out of South Africa, Kenya registered the biggest growth in volume of modern retail space in Sub- Saharan Africa in the last two years, and the Kenyan capital Nairobi continues to be a development hotspot for retail business real estate. 

According to the Knight Frank 2017 report, between 2015 and the first quarter of 2017 alone, of the 12 biggest retail space malls that opened their doors to business anywhere in Africa, three were in Nairobi. Moreover, all the three were among the biggest four.

Russians eyeing Africa’s atomic energy niche

In a market whose key lucrative sectors like minerals, construction, oil and gas, are already saturated by Chinese, European and to extent American investors, the Russians in their search for entry points to the African market seem to have identified the region’s budding nuclear energy sector, a hitherto untapped yet potentially lucrative segment.

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