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Kenya Secures AIIB Grant for Mau Summit-Malaba Road Preparations
Kenya has secured a multi-billion-shilling grant from the Asian Infrastructure Investment Bank (AIIB) to support preparations for the Mau Summit-Malaba Highway.
The development follows a meeting between senior officials from the National Treasury and the State Department for Roads and AIIB representatives at the bank’s headquarters in Beijing, China, on Wednesday, September 16.
Aliko Dangote’s Sh2tn Lamu Oil Refinery Plans
Africa’s richest man, Aliko Dangote, is preparing to make a Sh2 trillion bet on Lamu, with plans for a 700,000-barrel-a-day refinery that could change how East Africa gets its fuel.
The Nigerian billionaire, with a net worth of about $31.3 billion, expects to break ground in October, with construction scheduled to take less than four years.
“By October this year, we will be groundbreaking. Once we break the ground, we will begin the construction,” Mr Dangote said in a recent press interview.
Thwake Dam Project Delayed Again
Completion of phase one of Thwake Dam in Ukambani, originally set for February 2024, has been pushed to April 2027, extending years of delay on the multi-billion-shilling project.
According to President William Ruto, the project encountered delays after funding ran out, but the government has now secured the funds needed to finish it.
“We had planned to complete it by December. However, it encountered problems after we ran out of money. We have now secured Sh10.6 billion for completing the dam. The money was approved last month,” Ruto said during a recent tour of Kitui County.
JCB Unveils Its Most Powerful 480 and 490 Wheel Loaders
JCB has rolled out a new generation of wheel loaders built for high-output sites, with two larger machines targeting heavy material handling in quarries, ports and major construction projects.
The 480 and 490 are the largest machines in the range, built to move more material with fewer stops. They are not upgraded versions of older models, but completely new machines designed for greater productivity and efficiency in tough working conditions.
The first public showing came at Hillhead 2026 in Buxton, UK, held 23–25 June.
The 480 and 490 handle up to 8,000 and 9,000 kilos, respectively. Both meet EU Stage V standards and can use standard or long loader arms for feeding crushers, loading trucks, and moving materials.
The Waterfront Karen Heads for Sh9bn Sale as Mall Boom Slows
The family of late billionaire Nelson Muguku is in advanced talks to sell The Waterfront Karen Mall in a transaction that could fetch up to Sh9 billion, according to sources.
Ken Obimbo, the property’s manager, recently confirmed that the sale process is underway, saying the family believes it has a serious buyer.
“There are still certain conditions that need to be met before the transaction is completed,” he told the Business Daily.
The move comes as investors reassess large shopping centres that once attracted billions of shillings in development capital during Kenya’s retail property boom.
For the Muguku family, the move marks a reversal of the investment strategy adopted a decade ago when it reduced its exposure to listed equities and channelled capital into property. That shift helped create The Waterfront Karen Mall, which was built by CJRE East Africa, a subsidiary of China Railway Group, at a cost of Sh3 billion.
Ongoing Project: Mwache Junction – Tsunza – Mteza
The new road will consist of a dual carriageway starting from the Mwache interchange, 4km from the A109 road and 5km from the New Container terminal at Kipevu, Mombasa Port. The road runs in a southerly direction from the Mwache interchange for 4.0km crossing the Mwache Creek and going through Tsunza peninsula before turning eastwards across the Mteza Creek.
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