Market News Page No. 3| Africa Business News

TOYO to expand by 2 GW to Ethiopia's solar cell capacity

The Vietnamese solar solutions business TOYO has revealed plans to expand its capacity from 2 GW to 4 GW at its Ethiopian solar cell production facility. To increase output, TOYO plans to invest $47 million. Next to its current automated production location in Hawassa, Ethiopia, the company intends to lease a 28,000 square meter facility. With a 2 GW production capability, the company has finished building the first phase of the solar.... Read more »

Posted on : Wednesday , 2nd April 2025

Brighter Future: LED Lighting Revolutionizes Energy Access in Nigeria

As Nigeria strives for improved energy access and sustainability, innovative solutions are shaping a brighter future. One of the most transformative developments is the widespread adoption of LED lighting, offering a game-changing approach to power efficiency and affordability. LED lighting is emerging as a key solution, offering multiple benefits. It consumes significantly less power than traditional bulbs, reducing electricity costs and.... Read more »

Posted on : Wednesday , 2nd April 2025

Tanzania Signs $385 Billion Deal to Build East Africa’s Largest Conference Centre

The Arusha International Conference Centre (AICC) has entered into a cooperation agreement with the Public Service Social Security Fund (PSSSF) for the construction of the Mount Kilimanjaro International Conference Centre (MKICC), an a cutting-edge conference Centre valued at more than Sh385 billion. MKICC is expected to be completed in two years and operational by 2027, making it East and Central Africa's largest conference centre. The.... Read more »

Posted on : Tuesday , 1st April 2025

Marula Mining approves 5-year budget for Kilifi operation in Kenya

Marula Mining PLC, a mining and development firm with an African focus, is happy to report that the board of the firm has approved the five-year budget for the operation of the Kilifi Manganese Processing Plant, which is situated in Kenya's Kilifi County's Tezo Area. Following the recently signed 5-year Agency Framework Contract with Baosteel Resources South Africa (Pty) Ltd, the 5-year budget has been approved. As announced on March 4, 2025,.... Read more »

Posted on : Tuesday , 1st April 2025

Kenya Kericho County Funds the Kipsigori Dam Water Project with Sh18.6 Million

To increase residents' access to clean water, the Kericho County administration has spent Sh18.6 million to expand the Kipsigori Dam Water Project in Kedowa Kimugul Ward, Kipkelion East Sub-County. The initiative includes important improvements like desilting, rehabilitation, the installation of a solar-powered pump, the construction of an 8-kilometer pipeline, the erection of raised steel tanks, and the completion of two.... Read more »

Posted on : Tuesday , 1st April 2025

A Danish Company to Invest Sh1.3 Billion in the Solar Equipment Market in Africa.

The company has contributed $3.2 million (Sh413.4 million) since 2022 to extend safe water access programs throughout Africa, and this builds on that investment. In the medium-to-long term, the company, which creates reasonably priced, solar-powered water filtration systems for marginalized and disadvantaged populations, hopes to raise up to $10 million (Sh1.3 billion).The company's long-term commitment to Africa as a key operating base.... Read more »

Posted on : Thursday , 27th March 2025

EPRA Releases Draft Regulations to Boost Kenya's Energy Sector

The Energy and Petroleum Regulatory Authority (EPRA) has proposed three extensive draft laws to improve consumer protection, safety, and dependability in Kenya's energy industry. The plans, which are now out for public comment, are intended to address significant aspects of energy management, such as incident reporting, service quality, and licensing procedures. According to EPRA Director in Charge of Electricity and Renewable Energy,.... Read more »

Posted on : Wednesday , 26th March 2025

Kenya and China Sign a Memorandum of Understanding on Nuclear Energy Development

A Memorandum of Understanding (MoU) has been signed between China and Kenya for the project's first nuclear power facility. Signed by the China Nuclear Engineering and Construction Corporation (CNECC) and the Nuclear Power and Energy Agency (NuPEA), the agreement aims to advance nuclear energy research, innovation, and technology transfer. Kenya's technical ability to carry out nuclear power projects will be strengthened by this.... Read more »

Posted on : Wednesday , 26th March 2025

Bolt Comes over 500 Kenyan Electric Bikes

With more than 500 electric motorcycles in its fleet, ride-hailing business Bolt has declared a major milestone in Kenya. Rapid adoption of the partnership, which moved from a pilot model to full scaling up in December 2024, has confirmed that electric bikes are a viable and affordable mobility option in Kenya. By the end of 2025, Bolt hopes to have 1,500 vehicles in its fleet, substantially increasing the supply of electric.... Read more »

Posted on : Wednesday , 12th March 2025

President Ruto Launches Sh50 Billion Nairobi River Regeneration Project to Transform City Infrastructure

President William Ruto recently unveiled the Nairobi River Regeneration and Engineering Works Programme, which will cost Sh50 billion. The project involves the installation of a 60-kilometer sewer line and 50,000 cost-effective housing in reclaimed regions. The project will be implemented collaboratively by the Nairobi Rivers Commission and the Ministries of Housing, Environment, and Defence. President Ruto hailed the initiative as a.... Read more »

Posted on : Wednesday , 12th March 2025

Kindiki said Kenya will come a first- world nation through manufacturing and assiduity growth.

Kithure Kindiki, Kenya's Deputy President, has lately stated that the expansion of the manufacturing and industry sectors will quicken the country's transition into a first- world nation. Kindiki asserts that the administration led by President William Ruto has made significant investments, both in terms of coffers and time, in value chains that are essential to the metamorphosis of the country from its current situation.It was brought to his.... Read more »

Posted on : Tuesday , 11th March 2025

After Receiving a Supply Order from Tanzania Worth ₹42 Cr, the Pharmaceutical Stock Climbs 3%

The Medical Stores Department in Tanzania has issued a work order to Cupid Limited, which manufactures IVD kits, personal lubricants and female and male condoms, for the supply of male condoms valued at around Rs. 42 crore. This order, which is scheduled to be implemented between May and July 2025, is a component of a framework agreement with an international corporation. As a result, the shares of Cupid Limited, which has a market.... Read more »

Posted on : Monday , 10th March 2025