Market News Page No. 139| Africa Business News

Swala Oil & Gas (Tanzania) plc received an initial investment of US$30 million from Energy Tanzania Limited (ETL)

Energy Tanzania Limited (ETL) is owned by Dr. Reginald Mengi, the well-known Tanzanian entrepreneur and philanthropist. It has been announced by Swala Oil & Gas (Tanzania) plc that they have entered into an ultimate agreement for an initial investment of US$30 from Energy Tanzania Limited. The funds will be utilised to develop the Company’s current projects. The investment, which is observed to close in two tranches,.... Read more »

Posted on : Wednesday , 9th January 2019

Ethiopia, Eritrean leaders reopened the Oumhajir-Humera border crossing for trade and transport

The Oumhajir-Humera border crossing was reopened by Ethiopia’s Prime Minister Abiy Ahmed and Eritrean President Isaias Afwerki as this border crossing connects the two countries for trade and transport. Eritrea’s Afwerki and Ethiopia’s Ahmed, escorted with senior officials of the two East African countries, on Monday and witnessed the official reopening of the border crossing. According to Eritrea’s Minister of.... Read more »

Posted on : Wednesday , 9th January 2019

Tanzania granted her Exports Free Market Access to Uganda

Free market access for its soya and sunflower exports which is a boost to these products originating from the landlocked country has been granted by Tanzania to Uganda. The two countries, led by their respective trade ministries, was agreed that Ugandan traders be granted permits export the products to Tanzania. The Mutukula OSBP meeting organised by Ugandan Trade Minister Amelia Kyambadde and her Tanzanian counterpart Joseph Kakunda.... Read more »

Posted on : Tuesday , 8th January 2019

French Firm To Construct 40-Megawatt Solar Plant In Eldoret

Compatriot enewable energy firm Voltalia has been chosen by Kenya-based French solar firm Alten Africa to build its 40-megawatt (MW) solar plant in Eldoret.Alten said Voltalia it already started building at the Uasin Gishu project last December. “Alten Africa ratifies the choice of Voltalia to execute the EPC (engineering, procurement, construction) and O & M (operations, and plant maintenance) service for its new photovoltaic plant.... Read more »

Posted on : Monday , 7th January 2019

East Africa construction industry to grow tenfold over the years

Investment opportunities in infrastructure construction is set to expand at a rapid pace in East Africa. According to GlobalData, total infrastructure construction output is expected to soar from US$25.9bn in 2017 to US$98.8bn in 2022 in the three largest markets in the region, Ethiopia, Kenya and Tanzania. Yasmine Ghozzi, construction analyst at GlobalData said that Investment rates in transport infrastructure have been increasing.... Read more »

Posted on : Monday , 7th January 2019

New Kenya Upstream Outlook Shows Increased Activity By New Players in 2019

The just newly released Kenya Upstream Outlook for the year 2019 shows that most of the new seismic and drilling activity will be by new explorers with the Lamu basin just like in 2018 witnessing most of the drilling. According to a review on work programmes by the various licensed explorers in Kenya OilNews Kenya estimates that the Lamu basin could see up to five wells drilled by among them: Octant Energy, Zarara Oil and Gas, Eni and Shell..... Read more »

Posted on : Friday , 4th January 2019

Tanzania all set to achieve the Universal Health Coverage by 2030

Tanzania is considered to be one of the world's developing countries which is making tangible progress towards acheiving the Universal Health Coverage (UHC) by 2030 as the health docket is considered to be one of the sectors in Tanzanian economy that have shown huge potential and have also shown considerable progress in 2018. Universal Health Care (UHC) is a system that is providing health care anf financial protection to all citizens.... Read more »

Posted on : Friday , 4th January 2019

East Africa Vehicle Assembly Planning To Boost Automotive Industry

Establishment of the Regional Automotive Industry Platform of East Africa has enhanced East African states to move towards integrated automotive market. They instinct it will be productive for global automotive manufacturers to invest in the region in both assembly and component manufacture.The new platform (Raipea) aims to help the region save more than $2 billion in car import costs annually. At their 19th Ordinary Meeting held in Kampala.... Read more »

Posted on : Friday , 4th January 2019

Operations of Ethiopia's Grand Renaissance dam to commence in 2020

Ethiopia’s water and energy minister Seleshi Bekele announced on Thursday that the country will start energy production at the Grand Renaissance dam in December 2020. The 6,000-megawatt Grand Renaissance Dam is the centerpiece of Ethiopia’s bid to become Africa’s biggest power exporter. Bekele told the parliament that 750 megawatts is the planned initial production with two turbines and that the government expected the dam to.... Read more »

Posted on : Friday , 4th January 2019

Leaders of East Africa inaugurate Chinese-built projects in the region

Chinese-built Jimma Industry Park in Ethiopia’s historic western town of Jimma, some 350 km west of the capital Addis Ababa, was inaugrated by Ethiopian's Prime Minister Abiy Ahmed, Djiboutia's President Ismail Omar Guelleh and Sudanese's President Omar al-Bashir on Saturday. The three leaders also witnessed a corner-stone laying ceremony for another Chinese-contracted major road infrastructure project as the Ethiopian government aspires.... Read more »

Posted on : Friday , 28th December 2018

Bangladeshi steel maker to open Sh6.5bn factory

Big ticket infrastructural projects including the multi-billion Standard Gauge Railway (SGR) have driven up demand for steel products in the country. One of the largest steel makers in Bangladesh is set to open a Sh6.5 billion ($65 million) factory in Kenya. Bangladesh Steel Re-Rolling Mills Ltd (BSRM) announced the local venture to be known as BMS Steel Limited. It is backed by a consortium of unnamed Kenyan, Mauritian and UAE.... Read more »

Posted on : Wednesday , 26th December 2018

Ethiopia to host Medexpo in Addis Ababa

Medexpo Ethiopia 2019 will be held in the Ethiopian capital city of Addis Ababa from 21st to 23rd March 2019. The event caters to the huge opportunity in the healthcare products, equipment and pharmaceutical industry. The exhibition will focus on providing a platform to introduce and showcase healthcare, pharmaceutical and wellness solutions in the medical sector. In the medical and healthcare sector, pharmaceutical imports of Ethiopia.... Read more »

Posted on : Friday , 21st December 2018