Market News Page No. 23| Africa Business News

Ethiopia aims to achieve complete industrial self-sufficiency in three years

Within the next three years, the Ministry of Industry plans to meet the nation's need for food, beverages, apparel, and textiles through domestic manufacture by announcing a number of ambitious goals. The Ministry of Industry has presented an ambitious plan to meet the country's food, beverage, textile, and clothing needs fully through local manufacturing within the next three years, therefore reducing the nation's dependency on.... Read more »

Posted on : Monday , 8th January 2024

Kenya Gives Go-Ahead to Massive $3.6 Billion Nairobi-Mombasa Expressway Project

Under a public-private partnership (PPP), the 473-kilometer Nairobi-Mombasa Expressway has been approved for its initial phase of construction. This was disclosed by the Treasury, which made it possible for the road construction project to go into the development stage. The Nairobi-Mombasa Expressway project, according to the Treasury, is anticipated to eliminate the severe traffic jams and lethargic speeds between Mombasa and Nairobi. It.... Read more »

Posted on : Tuesday , 2nd January 2024

Prime Minister Kassim Majaliwa's Points Route to Elevate the Nation's Mining Sector

Financing mining projects nationwide is one of the six strategies that Prime Minister Kassim Majaliwa has identified for the nation to improve its mining sector. He emphasised that in order for mining projects to be funded nationwide, financial institutions must have access to the necessary information. He highlighted that financial institutions need to have access to the required data in order for mining projects to be funded nationally..... Read more »

Posted on : Tuesday , 2nd January 2024

How Africa is set to blow past the rest of the world on electric motorcycles

Europe is chugging along slowly but surely in the transition from noisy, polluting combustion engine motorcycles to quiet, efficient electrics. Asia has already made impressive progress, and North America is, well, making an attempt. But Africa could be poised to leap past everyone as several countries adopt ambitious plans to put millions of electric motorcycles on the roads.Much of Africa is dominated by motorcycles, which are especially.... Read more »

Posted on : Friday , 22nd December 2023

Narok County Government Initiates Borehole Project, Paving the Way for Improved Water Access

The Narok County Government is commencing a borehole project with the goal of providing more water to the community. The government spent Sh12 million on the borehole project, which took place in Ilkiragarien, Suswa Ward, Narok East Sub County. Governor Patrick Ntutu announced during the project's introduction that 38 boreholes have been drilled and outfitted around the county since the County Integrated Development Plan (CIDP) for 2022–2023.... Read more »

Posted on : Tuesday , 12th December 2023

WHERE TO INVEST IN AFRICA 2024

Amidst the global highs and lows, Africa emerges as a beacon of opportunity, inviting investors to explore a wealth of potential in the coming year.Renowned Kenyan businessman and financial expert, Nazir Jinnah, shares insights on key areas ripe for investment, highlighting the continent's untapped potential.Jinnah emphasizes the growing momentum in Africa's embrace of sustainable practices, particularly in renewable energy projects.With solar.... Read more »

Posted on : Tuesday , 12th December 2023

Kenyans Switch to Chinese-Made Solar Floodlights to Illuminate Their Homes.

The world's biggest retail network of Chinese-imported electronics and electrical goods is located in Nyamakima, a shopping district in Nairobi, Kenya, where dealers from all over the country congregate. Retailers here purchase goods in large quantities from China and resell them to other merchants. Bulk couriers deliver packages throughout the nation, especially to South Sudan and Uganda, which are nearby. But the thing that stands.... Read more »

Posted on : Friday , 8th December 2023

Partnership talks between InspiraFarms Cooling and Celtic International

The process of purchasing Celtic Cooling's African operations has been disclosed by InspiraFarms Cooling, a prominent supplier of cooling systems throughout Africa. InspiraFarms Cooling is taking advantage of this golden opportunity to make a contribution towards increasing its market share in Africa. There are numerous benefits to incorporating the Celtic businesses located in Ethiopia, Ghana and Kenya into InspiraFarms Cooling's.... Read more »

Posted on : Thursday , 7th December 2023

Ethiopia and UAE's AMEA Power Sign $600 Million Wind Farm Agreement

Ethiopia has signed an agreement with United Arab Emirates' AMEA Power for the construction of a 300 megawatt wind farm at a cost of USD 600 million, its finance ministry said on 1st December 2023. The Horn-of-Africa nation is turning to renewable energy to boost electricity coverage, which stood at 50 percent of the population in 2020 according to the World Bank, leaving 60 million people outside of the grid. The Aysha wind farm will.... Read more »

Posted on : Wednesday , 6th December 2023

The Nyerere Hydropower Plant in Tanzania Is Being Connected to the National Grid

Tanzania's power utility company announced that the connection of electricity from the mega Julius Nyerere Hydropower Project (JNHPP) to the national grid began In November. The Tanzania Electric Supply Company Ltd. (TANESCO), a government-owned company, said in a statement that trial runs will follow the connection of power to the national grid. "Connection of power to the national grid is a milestone to the country's electricity.... Read more »

Posted on : Wednesday , 6th December 2023

KenGen Issues A 40 MW Kenyan Floating Solar Project Tender

Kenya Electricity Generating Company (KenGen) is seeking consultants to assess the viability of a floating solar power plant with a potential capacity of around 40 MW. The project, backed by the German Development Bank (KfW), aims to be situated on the Kamburu Hydropower Plant Reservoir in Kenya. KenGen had previously conducted a pre-feasibility study in 2020, recommending a 40 MW floating PV project on the Kamburu dam due to factors.... Read more »

Posted on : Tuesday , 5th December 2023

UNHCR Uses Innovative Solar Projects in Kenya and Uganda to Promote the Renewable Energy Agenda

The UN Refugee Agency (UNHCR) has commenced the implementation of solar installations in three of its office locations in Kenya and Uganda, benefiting a combined population of over 650,000 displaced individuals in Kakuma, Adjumani, and Yumbe. This initiative, part of the Green Financing Facility (GFF), represents a pioneering approach to financing renewable energy projects in fragile settings. Launched in 2019 with support from the Swedish.... Read more »

Posted on : Tuesday , 5th December 2023