Market News Page No. 164| Africa Business News | Afrotrade

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Kenya Close to Achieving Major Price Cuts in Power Supply

An auctioning program is set to cut power costs for Kenyan consumers. Power in Kenya is currently provided by PV firms and this news of price cuts will no doubt please the Kenyan population. The utility firm’s managing director, and CEO, Dr. Ken Tarus has predicted a decrease in the cost incurred by Kenya to purchase power from across foreign borders from Sh12 per kilowatt-hour to Sh6 per kilowatt-hour. The Kenyan.... Read more »

Posted on : Friday , 27th October 2017

New Building Materials Manufacturing Unit in Kenya

Ceramic tiles, construction hardware, bathroom and kitchen appliances are among the products that will be manufactured at Kenya’s newest plant for building materials. The project is headed by China Wu Yi. The firm is currently in the finishing stages of an upcoming precast building materials manufacturing unit in the Machakos County. Executive Deputy General Manager China Wu Yi in Kenya, Yihua Lin reasoned the.... Read more »

Posted on : Thursday , 26th October 2017

African Women Making Their Mark as wine-makers in Europe

South Africa’s Pheli Wines is revolutionizing the wine industry in Africa today. Traditionally dominated by white men across Cape Town, the wine industry is now changing for the better. Pheli Wines was founded in 2013 by Moyahabo Anna Seemola. This name was drawn from the Zulu word ‘Phelindaba’ which translates to ‘end of story’. Contrary to this, it is anything but the end for.... Read more »

Posted on : Tuesday , 24th October 2017

Africa Look to Play A Greater Role in Renewable Energy Market

The newest edition of the ARF will this time provide a platform for discussions on a wide range of topics in global renewable energy development. Other major issues to be discussed will include climate resilience strategies, sustainable development and the goal of attaining the objectives of COP22. ARF this year will bring together government ministers, global investors, and heads of African utilities to discuss the development.... Read more »

Posted on : Tuesday , 17th October 2017

Emergency Health Services to be prioritized in Tanzania

The Permanent Secretary in Tanzania’s Ministry of Health, Community Development, Gender, Elderly and Children, Mpoki Ulisubisya has revealed that his administration is working towards reducing 40 percent of the loss of life that is caused by the lack of adequate emergency service support. The government will now prioritize the establishment of an emergency medicine department at all district hospitals across the.... Read more »

Posted on : Tuesday , 17th October 2017

Japanese to Fund Container Terminal at Mombasa Port

The Japanese Government is all set to finance The Kenya Port Authority’s (KPA) newest endeavor. The Japanese Government has allocated a US$ 339.2m loan to the terminal project, with construction work on phase 2 due to begin in January 2018. KPA Managing Director, Catherine Mturi-Wairi revealed that development tendering for the project is very close to fully commencing. Phase 1 is expected to be completed by September 2017.... Read more »

Posted on : Tuesday , 17th October 2017

New Regulating Body in the Works for Tanzania's Cereal Industry

A new regulatory authority for new cereals and other produce is in the works and is set to begin operations before the year is out. One of its main functions will be to set a cap price for a range of crops. Acting Director-General of the Cereals and Other Produce Board of Tanzania (CPB), Mr. John Maige broke the news in a recent interview with TBC FM. Mr. Maige described the new regulatory body as an important instrument.... Read more »

Posted on : Tuesday , 17th October 2017

Tanesco Project To Surpass Early Investor Expectations

The Tanzania Electricity Supply Company (Tanesco) have committed themselves to provide an abundant stream of power to any large-scale investors with an interest in the Ruvuma Region. Tanesco Ruvuma Regional Manager, Eng. Patrick Lwesya assured power supply in abundance to the Ruvuma region, once work on the Makambako-Songea transmission line is completed. He was quoted saying “People of Ruvuma will no longer experience.... Read more »

Posted on : Tuesday , 17th October 2017

US$ 13 Million Mihrab Building Now Open in Nairobi

US$ 13m development FCB Mihrab will soon be open to the general public. The building has been designed to portray Islamic values and is already available for occupation. The building will be on Lenana Road in Kilmani, Nairobi. The building will be a symbol of purity and goodness in accordance with Islamic culture. The building is situated in an up-scale rapidly developing locale. Mihrab Development Project Administrator,.... Read more »

Posted on : Monday , 16th October 2017

Huge Scope for Digital Financing in Africa

Financial sector players have revealed that co-operation between telecommunication companies and microfinance banks are yet to be achieved. This co-operation was planned with the hope of coming up with new products and services that would further boost funding for micro, small and medium enterprises (MSMEs). Micro-financiers will have a critical role to play in the development of MSMEs and in a broader sense also in the.... Read more »

Posted on : Monday , 16th October 2017

Paul Kagame Condemns Corruption and Its Foreign Roots

The President of Rwanda, Paul Kagame has rejected the idea that Africa is characterized by corruption, which is rife in its institutions today. He instead chose to highlight the role played by non-African entities and their involvements in corruption, smuggling and other illegal practices on the continent. At the UN General Assembly in New York, Kagame urged the rest of the world to see Africa as more of a partner than anything.... Read more »

Posted on : Monday , 16th October 2017

Helium Reserve in Tanzania Hailed As A Game-Changer

An enormous new helium reserve has been identified in Tanzania. Its size has been estimated to be twice that of what it was originally thought to be. Helium is an essential component of the gas mixture that is needed for deep technical diving. It is not a narcotic like nitrogen and is used by divers to control the volume of nitrogen in the mixture or even eradicate it completely leaving behind only a mix of oxygen and.... Read more »

Posted on : Friday , 13th October 2017

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