Market News Page No. 1| Africa Business News

Oil & Gas sector in East Africa- Presents investment and infrastructure build

Maina Kigundu, East Africa head of oil and gas at Standard Bank said that “the foreign exchange burden of importing and distributing refined oil and gas products will, “address regional balance of payments challenges while liberating much needed foreign exchange for more strategic human development.” The increasing slice of foreign exchange required to meet the regions’ growing need for refined product, “is.... Read more »

Posted on : Monday , 19th November 2018

Scania East Africa Launches New Truck Range

Scania East Africa has launched its new truck generation becoming the second market in Africa to roll out the new truck range. The new models have been launched in phases across the globe since August 2016 revealing results of ten years of development work, billions of dollars of investments and more than 10 million kilometres of test driving. Scania is extending its offering by customising trucks for each type of customer in the highly.... Read more »

Posted on : Thursday , 15th November 2018

Uber Sees Opportunity for Minibus Service in Nairobi

Uber Technologies may roll out a new service in Kenya to help user’s book seats on minibuses that ply the streets of the congested capital, if tests on the product in Egypt and Mexico prove successful, a company executive said on Wednesday. Uber estimates that more than a third of Kenyans in Nairobi use the often crowded minibuses, known as matatus, as their main form of transport around the city, Uber’s East Africa General Manager.... Read more »

Posted on : Thursday , 15th November 2018

3.2 million residents from kenya to get free health care services

3.2 million kenyans to get free health care coverage, 3.2 million residents are from four different countries, namely, Isiolo, Machakos, Kisumu and Nyeri. These countries are expected to receive a range of free medical services starting December as a part of Pilot Programme. These four countries will also get free services when they refer to National referral facilities during the year-log (UHC) Universal Health Coverage Pilot.... Read more »

Posted on : Thursday , 15th November 2018

TANZANIA to become a hub of high-tech cardiovascular treatment in East Africa

Dar is gearing to become Medical tourism Hub in EA. A hub of high-tech cardiovascular treatment in East Africa and Sub- Saharan Africa through extension of the Jakaya Kikwete Cardiac Institute (JKCI) at Mloganzila, which is envisioned to be a centre of excellence in the region. The new facility at Mloganzila will include a special wing for children, which will have a capacity of between 280 and 350 beds, up from the current 128 beds at.... Read more »

Posted on : Wednesday , 14th November 2018

Kenya set aside funds to help local start-ups in the mobile industry

Kenya minister of information, communication and technology said that the government had set aside $10 million to help local start-ups in the mobile telephone software and hardware segments to grow. The country’s imports of 50 million telephone handsets every two years, Which is challenging local firms to start making them locally. Kenya has almost 45.5 million mobile phone subscribers who use a range of imported mobile.... Read more »

Posted on : Wednesday , 14th November 2018

Kenya Signs Agreement to Boost Agricultural Exports to China

Kenya and China signed an agreement allowing the East African country to export various agricultural products to China. Nzioka Waita, President Uhuru Kenyatta’s Chief of Staff, said the agreement on food, plant and animal safety - known as sanitary and phytosanitary measures - had been reached between the two after a week of negotiations. Waita said on Twitter the agreement would pave the way for Kenya to start exporting a selection of.... Read more »

Posted on : Tuesday , 13th November 2018

East African focused fund manager, Catalyst Principal Partners, announces the close of its second fund, achieving $155 Million

In 2009, the Catalyst Fund raised to $125 million which it invested in 9 companies in Kenya, Tanzania and Ethiopia with diverse interests in manufacturing of consumer goods, pharmaceuticals, industrial agro-processing, logistics and engineering as well as healthcare, technology and financial services. Whereas, this year the Catalyst Fund II raises US$155 million successor fund for investment in East Africa. The fund will.... Read more »

Posted on : Tuesday , 13th November 2018

KENYA: East Africa's first solar airport will open in 2019

Moi International Airport in Mombasa will be the first solar-powered airport in East Africa. That is the purpose of the contract that Solarcentury has just won for the installation of a photovoltaic power plant at Kenya's second airport. The work to be completed within 10 months is part of the "Capacity Building for Reducing CO2 Emissions from International Aviation" programme implemented by the International Civil Aviation.... Read more »

Posted on : Friday , 9th November 2018

EXIM Bank Tanzania Pledged To Support Cashew Farmers

A section of cashew Nut farmers in Tanzania are set to receive a boost following a move by Exim Bank to support them with TZS 200 million ($87,334 dollars).The farmers from Mtwara will benefit from the investment which aims at bolstering the industry productivity during 2018 season.According to a statement from Exim Bank, cashewnut industry in Tanzania recently has seen a significant growth in production and sale prices which is a.... Read more »

Posted on : Thursday , 8th November 2018

Federal Agency Signs MOU to Construct 25 Silos for Wheat and Teff Value Chain

The Federal Cooperative Agency has signed a Memorandum of Understanding with the heads of regional cooperatives to construct 25 silos to be used by agricultural cooperative unions involved in teff and wheat value chain in four regional states. The bid aims to alleviate the shortage of warehouses and help cooperative unions with a reliable and effective market outlet. The silos will be constructed by 12 contractors under the Alliance for.... Read more »

Posted on : Thursday , 8th November 2018

Africa's largest International Mining Technology Trade show is back in Tanzania

Africa’s largest International Mining Technology Trade show is back in Dar es Salaam, Tanzania from 1st – 3rd November, 2018. Hon'ble William Vangimembe Lukuvi, Minister for Lands, Housing and Human Settlement Development will inaugurate the 4th Minexpo 2018 on the 1st of November 2018. The event is one of the leading mining trade shows, showcasing the widest range of innovative technology in mining and processing of.... Read more »

Posted on : Thursday , 1st November 2018