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The government of Kenya and Trade Mark East Africa (TMA) have signed a KSh1.31 billion grant agreement to support infrastructure projects in Mombasa, Busia, and Malaba. The move is aimed at facilitating trade and unlocking the economic growth of Kenya, Uganda, Rwanda, Burundi, and the Democratic Republic of Congo (DRC).
The grant will facilitate construction of the following:
The envisioned Busia Jumuiya Cross Border Market will occupy 40 acres of land, with its full completion costing KSh2 billion for 3 phases, i.e., a retail section, a wholesale section, and a business hub. Out of this, TMA in partnership with the Ministry of East Africa Affairs will start phase 1 (the retail section), estimated to cost approximately KSh559.3 million. TMA will contribute KSh485.3 million, with funding from the U.K. Foreign, Commonwealth and Development Office (FCDO), and DANIDA and GoK contributing an additional KSh74.3 million.
In the long run, these projects will create efficient borders that will facilitate international trade, investment, economic growth, promotion of economic competitiveness, and improved relations between countries.
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Disclaimer: The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of TradeMark Africa.