President William Ruto of Kenya and president Benedict Oramah of Afreximbank in Mombasa, Kenya. (Image source: Afreximbank)

African Export-Import Bank (Afreximbank) has signed a loan agreement to fund development and operationalisation of two major industrial parks and special economic zones in Kenya

The projects include the development of the Dongo Kundu Integrated Industrial Park and the Naivasha Special Economic Zone (SEZ) II (Naivasha II).

The proposed industrial parks — to be developed by Afreximbank through its affiliate company, Arise Integrated Industrial Platforms (Arise IIP) — will create and sustain an environment in which export-oriented industries can thrive, by leveraging economies of scale, shared infrastructure and access to global markets, the bank said in a statement.

Arise IIP is a special economic zone developer with experience in the development of integrated industrial parks in Africa.

Afreximbank has also committed to a three-year US$3bn country programme to support trade and trade-related investments intended to bolster Kenya’s industrialisation and export manufacturing.

“These parks are an integral part of the government’s plan to boost the country's economic growth under the Vision 2030 development blueprint,” said Professor Benedict Oramah, president and chairman of the board of directors at Afreximbank.

The Dongo Kundu Industrial Park within the Mombasa SEZ is expected, upon completion, to boost the area with a state-of-the-art industrial park that will contribute significantly to economic growth and industrialisation efforts in Mombasa County and in Kenya as a whole.

The Naivasha II Special Economic Zone – Naivasha II project is located at Mai Mahiu and will include a free trade zone, an industrial park, a logistics zone and a public utility area with a supporting road network. The project will occupy an area of approximately 5,000 acres.

The Naivasha II project will also derive value from its strategic geographic position as it sits on the gateway to East and Central Africa through the Northern Corridor Transport System, which comprises both a standard gauge railway and a major highway.

Moreover, the SEZ will be close to the Naivasha Inland Container Depot, which serves the East African hinterland countries of Burundi, the Democratic Republic of Congo, Kenya, Rwanda, South Sudan and Uganda.

Kenya’s President Dr. William S. Ruto, at the signing ceremony, commented: “The signing of these agreements…marks a significant milestone in Kenya’s development, expanding opportunities to enhance our manufacturing sector and create a more conducive environment for investment.”

MSC launches iReefer, a real-time container monitoring system for reefer cargo, enhancing shipment tracking, security, and temperature control. (Image source: Adobe Stock)

MSC Mediterranean Shipping Company has introduced iReefer, a state-of-the-art container monitoring system designed for temperature-controlled cargo

This innovation enables customers to track and oversee their refrigerated shipments in real-time, from any location worldwide.

With iReefer, users gain instant access to crucial shipment details, including location, temperature, humidity, and more. The service is accessible through myMSC, the company’s digital business platform, or via an API for seamless integration.

Customers can choose from three tailored iReefer packages based on their business needs. The entry-level option, iReefer Essential, is available at no cost and provides an overview of current and past reefer shipments, a container journey log, and analytical graphs. iReefer Pro expands on these features by offering unlimited data downloads and GPS tracking. For businesses managing large cargo volumes, iReefer Ultimate ensures direct API connectivity for streamlined data exchange. The premium packages, iReefer Pro and iReefer Ultimate, will be available starting 1 March 2025.

As a global leader in refrigerated transport, MSC moves over 1 million reefer containers annually. The company operates one of the most sophisticated reefer fleets and is supported by a team of more than 1,000 reefer specialists worldwide.

The launch of iReefer represents a key milestone in MSC’s ongoing digital transformation, aimed at enhancing shipping efficiency and providing real-time insights for supply chain optimisation. This new solution complements MSC’s existing digital portfolio, which includes MSC Smart Containers for remote dry cargo monitoring.

As part of this global initiative, MSC has integrated iReefer technology into over 210,000 reefer containers and equipped more than 500 vessels, with plans to expand deployment across its entire fleet in the coming years.

“This exciting launch highlights MSC’s unique ability to combine forward-thinking digital solutions with personalized customer care. iReefer is designed with customers in mind: we fully understand their need to closely monitor and control cargo, to facilitate planning and ensure products are delivered in pristine condition. It builds on the already high levels of care we apply to reefer cargo and takes this support to the next level,” said Giuseppe Prudente, Chief Logistics Officer of MSC and President of MEDLOG.

Digital Innovation in Cold Chain Logistics

The introduction of iReefer aligns with the rising global demand for refrigerated cargo and user-friendly digital solutions. Customers will benefit from real-time container monitoring, precise temperature control, improved security, regulatory compliance, and valuable data insights. Additionally, connected reefer containers help minimize costs by reducing spoilage, preventing damage, and lowering insurance claims.

Also read: https://africanreview.com/manufacturing/modular-training-workstation-to-inspire-current-and-future-professionals

The signing of the IFC investment in Lagos Free Zone (Image source: Lagos Free Zone)

The International Finance Corporation (IFC) is to invest up to US$50mn in Lagos Free Zone to support industrial growth and economic diversification in Nigeria

The funds will underpin the first phase of the 860-hectare free zone, Nigeria’s first deep-sea port-based private special economic zone, focusing on land development, industrial facilities and logistics infrastructure.

Dahlia Khalifa, IFC regional director, Central Africa and Anglophone West Africa, said the investment is designed to address critical infrastructure gaps, attract local and global businesses and contribute to Nigeria’s economic diversification agenda.

“This investment reflects IFC’s commitment to fostering inclusive economic growth and sustainable development in Nigeria,” said Khalifa.

“Lagos Free Zone is poised to become a transformative hub for industrial activity, driving job creation and enhancing Nigeria’s competitiveness in global markets.”

Owned by Singapore-based Tolaram, a diversified multinational group with operations across Africa, Asia, and Europe, Lagos Free Zone is integrated with Lekki Deep Sea Port and will provide an integrated industrial ecosystem for efficient import and export operations, serving as a gateway for Nigeria’s integration into global value chains.

With Nigeria’s economy projected to grow by 3.7% by 2026, investments in infrastructure are vital to ensuring sustainable growth.

Lagos Free Zone is already home to several manufacturing brands including Kellogg’s, Dano Milk, Colgate, BASF, ADM and Tata International. 

When fully occupied, the free zone is expected to create 30,000 direct, indirect, and induced jobs, while contributing significantly to Nigeria’s GDP upon completion.

“We are proud to partner with Lagos Free Zone  in building the infrastructure necessary to attract global and local businesses, enabling Nigeria to achieve its full economic potential,” said Khalifa.

The investment also reflects IFC’s commitment to sustainable development, with a focus on green infrastructure.

Approximately 15% of the investment is earmarked for climate-related initiatives.

“IFC’s support represents a significant and positive recognition of our vision to establish Lagos Free Zone as a world-class industrial hub,” said Adesuwa Ladoja, CEO and managing director at Lagos Free Zone Company.

“This investment allows us to scale up the existing infrastructure to attract more foreign and local tenants while promoting sustainability and creating economic opportunities for Nigeria.”

IFC investment also aligns with Nigeria's ongoing economic reforms and the Corporation’s own strategy, including the World Bank Group’s Nigeria Country Partnership Framework (2021–2025) and its 2015 Climate Action Plan, both of which prioritise diversification, the development of competitive clusters and investments in climate-resilient infrastructure.

By addressing infrastructure bottlenecks the aim is to strengthen and unlock Nigeria’s position as a regional economic leader.

Read more: Falcon Corporation ND Western & FHN consortium partners with Lagos Free Zone