Market News Page No. 156| Africa Business News

Kenya mining industry set for a boom

A new mining act signed into law by President Uhuru Kenyatta could see Kenya’s nascent mining industry finally come into its own. Oil companies, like UK’s Tullow Oil, have been prospecting in Kenya for a few years now, and they are expected to start production by 2021. Due to a mining law passed late 1940 combined with geological data that was 32 years older than that, Kenya missed out on the mineral exploration boom that.... Read more »

Posted on : Thursday , 22nd March 2018

Rural Kenyans Adopt Solar Power

Regina Ocholla, 70, has used a kerosene tin lamp all through her life until two months ago when her son financed the installation of solar panels in her three-roomed house. Ocholla, a resident of Nyakach village in Karachuonyo, South Nyanza, says she would spend at least Sh1,000 to Sh1,200 on paraffin every month, money she now saves for food. “I no longer have to use a torch at night when I want to go outside.... Read more »

Posted on : Wednesday , 17th January 2018

Kenya Off-Grid Power Firms to Benefit From Sh10bn Fund

Kenyan firms producing off-grid power will be able to acquire capital from a new Sh10.3 billion fund that is being set up by the African Development Bank (AfDB) and a group of international financial investors. The Facility for Energy Inclusion Off-Grid Energy Access Fund (FEI OGEF), will provide local and hard currency loans to off-grid energy companies that specialize in producing clean electricity, focusing initially on West.... Read more »

Posted on : Wednesday , 17th January 2018

Volkswagen in Kenya to Double Production

German automaker Volkswagen is hoping to double production and also to present another model in Kenya. VW’s South Africa chief Thomas Schaefer told President Uhuru Kenyatta at a meeting that “the firm was exploring producing a second model in Kenya, possibly a hatchback – small SUV – while doubling production of the VW Polo Vivo to at least 300 vehicles,” Developing the automotive industry is.... Read more »

Posted on : Tuesday , 16th January 2018

Kenya- Natural Gas Plant Project Revived

After dropping the project in 2018, Kenya has made a U-turn and renewed plans to build its first natural gas-fired power plant in Mombasa. Energy secretary Charles Keter has initiated fresh talks with the Treasury in preparing a financing structure for the 700-megawatt (MW) power plant that the government seeks to implement together with a private investor under the public-private partnership model. In 2016, the ministry.... Read more »

Posted on : Tuesday , 16th January 2018

Huge Potential in the Oil and Gas Sector

Since 2014, Oil prices have recorded the strongest start to a calendar year, with crude oil opening at over $60 a barrel. Oil prices collapsed from almost $120 a barrel in June 2014 due to weak demand, a strong dollar and a booming shale production in the USA. The biggest oil producers, Russia and Saudi Arabia, have continued to strengthen their collaboration in the oil and gas industry. This is one relationship that we should.... Read more »

Posted on : Tuesday , 16th January 2018

25 Companies Lend Support to Kenya�s Industrialization Objective

Tanzanian Prime Minister Kassim Majaliwa has revealed that at least 25 companies have agreed to get onboard the government’s plans to ramp up the nation’s industrial operations. "So far, 25 companies have confirmed their willingness to invest in our country in support of the vision of turning Tanzania into an industrialized nation," Mr Majaliwa said as he presented a report on how the government was implementing the.... Read more »

Posted on : Friday , 12th January 2018

3000 Projects Registered as Tanzania's Industrialization Agenda Gains Pace

Tanzania’s agenda of industrialization is fast-gaining momentum. Statistics are indicating the registrations of approximately 3,000 small, medium and large scale industries with a number of government industries worth over 5trl in the past year. This comes at a time when the international community is expecting a 6.5 to 7 percent growth in Tanzania’s economy. This statistic could see Tanzania break into the top.... Read more »

Posted on : Friday , 12th January 2018

Kenyan Industries to Increase Manufacturing to Boost Exports

Kenyan Industries are in the process of increasing their manufacturing output in a bid to boost exports. This vision is supported and shared by the Kenyan government, according to a statement from the administration. The cabinet secretary of the Ministry of Trade and Industry, Adan Mohamed gave his view on the subject stating that Kenya’s exports have been low due to a narrow manufacturing base. "We are therefore.... Read more »

Posted on : Wednesday , 18th April 2018

Kenya: New Sh200 Billion Industrial Hub to be a Game-Changer for Investors

A new industrial park in Uasin Gishu is all set to be game-changer in the economic fortunes of the region. The African Zones Pearl River Industrial Park (AEZ) will be a part of the country’s development plans and is worth a whopping Sh200 billion. Dr David Langat,the chairman of the park weighed in saying that the region will now earn more from the agriculture value chain. He also added saying that landowners and farmers in Uasin Gishu,.... Read more »

Posted on : Wednesday , 18th April 2018

Dangote Cement Open New $300 Million Cement Plant in Congo

Africa’s largest cement company, Dangote Cement Plc has stepped up their efforts for the economic emancipation of Africa by opening a cement plant in Mfila Congo Brazzaville. The plant will be equipped with a production capacity of 1.5 million tonnes per annum. This new plant is valued at $300 million and will employ as many as 1000 employees directly and many more thousands indirectly. President Sassou Nguesso inaugurated.... Read more »

Posted on : Friday , 12th January 2018

Siemens to Invest R5.5 million towards Automation in Africa

Siemens will be investing R5.5 million towards industrial automation and equipment for higher education institutes in Nigeria, Tanzania, Ghana, South Africa and Kenya. Sabine Dall’Omo, CEO of Siemens Southern and Eastern Africa said in an official statement. The company’s newest investments will go towards aiding the development of locally engineered solutions. “In an African context, disruptive technology can be.... Read more »

Posted on : Wednesday , 18th April 2018