Market News Page No. 12| Africa Business News

Kenya signs a Sh2.6 billion contract with a Chinese company for electric vehicle assembly

Chinese automaker Chery plans to increase its production of electric vehicles (EVs) in Kenya by investing Sh2.62 billion. The agreement, which was signed, was a collaboration with the Kenyan company Afrigreen Automobile and calls for building an assembly manufacturing plant to generate electric cars domestically. Principal Secretary Abubakar Hassan Abubakar of the Ministry of Investments, Trade, and Industry stated that the partnership.... Read more »

Posted on : Monday , 5th August 2024

Tanzania Commends Chinese Aid Initiative for Bilharzia Control

Authorities in Zanzibar, Tanzania, commended the Chinese aid effort for controlling schistosomiasis, or bilharzia, stating that it has contributed to the disease's eradication in the Indian Ocean islands.The principal secretary of the Zanzibar Ministry of Health, Katibu Mkuu Habiba, and the coordinator of the Ministry of Health on Pemba Island, Khamis Bilali Ali, expressed their heartfelt gratitude for the China-aid Project on Schistosomiasis.... Read more »

Posted on : Monday , 5th August 2024

Tanzania Poised to Enter Booming Graphite Market With a New Project Launch

The Lindi Jumbo Graphite Mine in Tanzania is scheduled to transport its first consignment of graphite concentrate to Europe, opening up a new global jurisdiction for graphite mining. There will be other exports to locations in Asia after the shipment bound for Europe. According to Andrew Cunningham, MD and CEO of Walkabout, an Australian company, there is a strong market demand for Lindi Jumbo's graphite product, and prices are competitive. To.... Read more »

Posted on : Thursday , 1st August 2024

TGS Partners with Tanzania's PURA to Dominate Offshore Subsurface Data Management and Licensing

The comprehensive dataset, including regional seismic and well data, will enable detailed interpretations of the basin's evolution and structural history.This collection, which includes 2D and 3D seismic data spanning over 132,000 km², showcases Tanzania's strong play diversity, proven through exploration success from Early Cretaceous to Miocene reservoirs. This initiative will help identify oil and gas plays, enabling.... Read more »

Posted on : Thursday , 1st August 2024

Tanzania Allocates 34 Billion Shillings for Manyovu Customs Center and Major Road Projects

Innocent Bashungwa, Minister of Construction, explained that 34 billion shillings were recently assigned for the construction of an integrated Customs Center (One Stop Boarder Post-OSBP) in the Manyovu area, which is on the border of Tanzania and Burundi, that will assist the Kigoma Region do trade with neighbouring countries. Bashungwa announced this to the people of Mnanira and Manyovu during the visit of Hon. Dr. Philip Mpango, Vice.... Read more »

Posted on : Thursday , 12th September 2024

Ndma's Launched Sh56 Million Water Project is in Taita Taveta

In Mbololo, Voi Sub-county, Taita Taveta County, the National Drought Management Authority (NDMA) is building a Sh56 million water project. The Mbulia Mzwanenyi water project is an initiative of the NDMA, in collaboration with the Taita Taveta County Government, aimed at enhancing drought resistance. Chairman of the Taita Taveta NDMA Shallow Yahya said during the project's Tuesday kickoff that the goal of the project is to make it.... Read more »

Posted on : Tuesday , 30th July 2024

705 MW of Power Added To Tanzania's Power Grid by Elsewedy Electric of Egypt

The Julius Nyerere Hydroelectric Power Project (JNHPP) now produces 705 megawatts of power altogether thanks to the addition of three more hydro turbine generators that Egypt's Elsewedy Electric and The Arab Contractors jointly connected to Tanzania's national power grid. The achievement, which was revealed during a visit to the JNHPP site by Tanzanian Deputy Prime Minister and Energy Minister Doto Biteko, represents a critical step in.... Read more »

Posted on : Wednesday , 24th July 2024

78% of Rural Kenyans Will Have Access to Electricity by REREC

Kenya's urban areas, enlightened by electric lights, and rural settlements, shrouded in darkness, were drastically separated for decades. This lack of electricity restricted chances for education, stunted economic growth, and hampered development in large parts of the nation. The Rural Electrification and Renewable Energy Corporation (REREC), on the other hand, has set out on a bold goal to close this disparity and provide light to Kenya's.... Read more »

Posted on : Wednesday , 24th July 2024

Bolstering Kenya's Green Energy Push, KenGen Will Install 42MW of Solar Energy

Kenya Electricity Generating Company (KenGen) intends to expand Kenya's use of renewable energy by installing 42.5 MW of solar power in the Seven Forks region. Installing a 42.5MW solar power plant near the location of the Seven Forks dams, where KenGen produces the majority of its hydroelectricity, is the aim of the project, which is anticipated to take twenty-eight (28) months to complete. By supplying hydroelectricity during the day and.... Read more »

Posted on : Monday , 22nd July 2024

Solar Energy Expansion in East Africa Secured By d.light at $176 Million

Leading global provider of financing and goods to low-income consumers, d.light, announces the conclusion of a $176 million securitization facility. African Frontier Capital (AFC) will supply the funding, which will be used to buy receivables in Tanzania, Kenya, and Uganda. With the utilization of this facility, d.light will be able to expand its PayGo consumer credit service and make solar-powered items more accessible to low-income.... Read more »

Posted on : Monday , 22nd July 2024

New Forests Reports Increasing Investment Opportunities in Africa's Timber Sector

In order to meet the increasing demand, the investment manager emphasizes the necessity of capital investment in the establishment of sustainable forest plantations and wood processing enterprises.According to New Forests, a global investment company that specializes in nature-based assets, investors in sustainable forestry are seeing new opportunities to diversify their portfolios as a result of the rising demand for timber products in.... Read more »

Posted on : Friday , 12th July 2024

Chinese EV maker BYD deal emboldens Rwanda’s Ampersand to expand into East Africa

Tanzania and Uganda are two of Ampersand's planned expansion markets. Ampersand is an electric motorcycle manufacturer and supplier. Weeks after the Rwanda-based company and China's BYD secured an agreement for the production of 40,000 e-motorcycles in Rwanda and Kenya, the ambitious ambitions have been announced. Since its founding in 2016, Ampersand has built and installed e-motorbikes in Rwanda and Kenya in addition to running its own.... Read more »

Posted on : Wednesday , 10th July 2024