Market News Page No. 1| Africa Business News

The State Funds Water Projects in ASALs with Sh 300 Million in Kenya

At a cost of Sh 300 million, the government is putting about 31 water projects into 23 Arid and Semi-Arid (ASAL) counties. The projects were being carried out in the counties most affected by the drought, such as Marsabit, Turkana, Mandera, Wajir, West Pokot, Baringo, and Tana River. Referred to as key initiatives, the PS stated that they were being carried out in accordance with the Bottom-up Economic Transformation Agenda with the.... Read more »

Posted on : Tuesday , 3rd June 2025

Kenya Power Endorses Street Lighting Levy Proposal to Boost Infrastructure

Kenya Power and Lighting Company (KPLC) has expressed support for a proposal to introduce a special levy aimed at funding street lighting projects across the country. The proposed Street Lighting Infrastructural Support Levy (SLISL) would be charged to electricity consumers and is expected to enhance lighting infrastructure in all 47 counties. The utility firm believes the move could significantly improve public safety and support.... Read more »

Posted on : Monday , 2nd June 2025

Surge in Demand for Woodworking Equipment in Tanzania's Expanding Furniture Sector

Tanzania's woodworking industry is experiencing a significant transformation, driven by a growing middle class and increasing demand for quality furniture. The furniture market in the country is expected to reach $606 million in revenue by 2025, with an anticipated annual growth rate of 1.37% from 2025 to 2029 . This expansion is fueling a surge in demand for modern woodworking equipment to meet both domestic and regional needs. The.... Read more »

Posted on : Monday , 2nd June 2025

AfDB Commits $2.5 Billion to Boost Tanzania's Infrastructure Development

The African Development Bank (AfDB) has committed US$2.5 billion to fund critical infrastructure projects in Tanzania, with over 70% allocated to transport-related developments such as roads, railways, and airports. According to Eng. Mumina Wa-Kyendo, Chief Transport Engineer at the AfDB Tanzania Office, the funding targets priority upgrades that will improve regional connectivity and logistics. Among the key projects is the Tanzanian.... Read more »

Posted on : Monday , 2nd June 2025

Lake Victoria Gold Strengthens Board by Partnering With Taifa Group

Lake Victoria Gold is strengthening its strategic cooperation with Taifa Mining Civils Ltd., Tanzania's top mining and construction enterprise. The corporation reports that Richard Reynolds, the CEO of Taifa Mining Civils Ltd., has been named to the Lake Victoria board. Reynolds was essential in defining the company's mining activities and implementing large-scale projects in Tanzania. In his present role, he provides strategic oversight and.... Read more »

Posted on : Tuesday , 3rd June 2025

Kenya Aims to Deepen Its Use of Renewable Energy With Green Hydrogen

In order to increase its usage of renewable energy, Kenya is considering using green hydrogen, which is predicted to have enormous potential for both cleaning up industries and generating new jobs locally in a various sectors. The nation intends to use hydrogen generated by geothermal, solar, and wind power plants whenever they are not supplying electricity to the national grid. Following this, hydrogen will be used in.... Read more »

Posted on : Friday , 30th May 2025

Moi University minimizes electricity spending by using solar power.

Moi University has strengthened its collaboration with Kenyan engineering company Afriwatt to begin phase two of its solar energy project in an effort to create a more sustainable future. The project intends to lower the university's electricity expenses, encourage climate action, and improve student training and research prospects.Acting Vice-Chancellor Prof. Kiplagat Kotut spoke during the launch at Moi University's main campus in Kesses,.... Read more »

Posted on : Wednesday , 28th May 2025

Africa Lights Up: The Rise of Artisanal and Decorative Illumination

Over the past two years, decorative lighting has witnessed a noticeable surge across Africa, with cities like Addis Ababa showcasing this growing trend. Urban landscapes are increasingly illuminated, from glowing sidewalks to radiant building facades, reflecting a rising appreciation for lighting as both a functional necessity and a form of artistic expression. Beyond standard exterior lighting supplied by large manufacturers, a wave of.... Read more »

Posted on : Thursday , 8th May 2025

MojaEV Kenya is set to begin local electric vehicle assembly

Nairobi-based mojaEV Kenya Ltd., an electric vehicle distributor, will start assembling electric vehicles locally with the goal of exporting them to multiple African markets. The company will first assemble automobiles through a cooperation with Associated Vehicle Assemblers Ltd., based in Mombasa. Currently, the company imports completely completed Chinese electric vehicles. Eventually, MojaEV intends to open a factory of its own to.... Read more »

Posted on : Tuesday , 6th May 2025

Uganda Launches €15M Drive to Power a Sustainable and Thriving Wood Industry

The Government of Uganda, together with the Food and Agriculture Organization of the United Nations (FAO) and the European Union (EU), has launched a transformative five-year project aimed at strengthening Uganda’s forestry sector. Backed by €15 million (approximately UGX 64.5 billion), the initiative aims to secure a steady, sustainable supply of legally sourced wood from planted forests, while driving economic growth and advancing.... Read more »

Posted on : Monday , 5th May 2025

Kenya Strengthens Its Legal and Regulatory Framework for Mining

The six tools are the Regional Certification Mechanism, Harmonisation of National Legislations, Regional Database on Mineral Flows, Formalisation of Artisanal Mining Sector, Extractive Initiative Transparency Initiative, and Whistleblowing Mechanism, according to Mining Principal Secretary (PS) Harry Kimtai. Speaking at the International Conference on the Great Lakes Region (ICGLR) secretariat meeting, Kimtai stated that Kenya has started its.... Read more »

Posted on : Friday , 2nd May 2025

Kenya-China Relations Deepen with 20 Agreements on Infrastructure & Trade

During his first state visit to China, President William Ruto secured multi-billion shilling agreements aimed at enhancing Kenya-China relations, which have now been elevated to a Comprehensive Strategic Partnership in the New Era. The visit led to the signing of 20 Memoranda of Understanding (MoUs) covering infrastructure, trade, education, digital economy, science and technology, and cultural cooperation. China committed to financing key.... Read more »

Posted on : Friday , 2nd May 2025