Market News Page No. 38| Africa Business News

Kenya’s Kisumu Solar One Project to Commence Operation in 2024

Ergon Solair Africa Limited, a company with US-European-Kenyan ownership, is developing the Kisumu Solar One 40MWAC Solar Project in Kibos (Kajulu), with planned commissioning and operation in 2024. The project, which is endorsed by the Government of Kenya, is planned to have a capacity of 40 MWAC with single axis tracking, on a 249 Acre land, located 8 km from the Kibos new Sub Station. The project has a 1st year estimated output of 103,000.... Read more »

Posted on : Wednesday , 29th March 2023

Tanzanian coal exports raised by +780% in the year that ended in January 2023.

Coal valued at USD 195.5 million was exported during the year ending January 2023, according to the Bank of Tanzania's (BOT) Monthly Economic Review-February 2023. When compared to coal exports worth USD 22.2 million in the year ending January 2022, this indicates an increase of +780%. The increase is attributed by the central bank to a rise in demand for alternative energy sources brought on by delays in the supply chain.... Read more »

Posted on : Wednesday , 29th March 2023

Tanzanian car dealer launches semi-hybrid SUV

Tanzania's vehicle sector is expanding at a rapid pace. The newest Suzuki semi-hybrid automobile will be launched in Tanzania soon, according to CFAO Motors Tanzania. On its social media channels, the company shared a teaser video. Several auto enthusiasts are curious and interested in this post. The newest and first Semi-Hybrid Suzuki model will be introduced in Tanzania, according to Francois Bompart, CEO of CFAO Motors.... Read more »

Posted on : Wednesday , 29th March 2023

Kenya to assemble 130 electric buses from China in 2023

In 2023, Kenyan automaker Associated Vehicle Assemblers (AVA) plans to produce 130 electric buses built by Chinese automaker BYD. AVA's managing director, Matt Lloyd, stated in Nairobi, Kenya, that the company has constructed 15 BYD electric buses for the local market that were imported as a collection of components. "The benefit of BYD is that it is one of the world's leaders in electric car manufacturing, and the level of quality of.... Read more »

Posted on : Wednesday , 29th March 2023

Tanzania: AfDB Pumps 374.9bn/ - Loan for Kakono Power Project

THE government has signed a loan agreement of 161.47 million USD with the African Development Bank (AfDB), to implement Kakono Hydropower Project (Kakono HPP). The approximate cost of execution of the Kakono HPP is 325 million USD. Speaking during the signing ceremony in Dar es Salaam on 16th March, Minister for Finance and Planning, Dr Mwigulu Nchemba said the overall development objective of Kakono HPP is to increase on-grid energy.... Read more »

Posted on : Friday , 24th March 2023

KENYA: Finnfund Sells Its Stake in the 310 MW Lake Turkana Wind Farm

The Finnish Fund for Industrial Cooperation (Finnfund) is selling its shares in Lake Turkana Wind Power (LTWP), the special purpose company that operates the 310 MW Lake Turkana wind farm. It is the 2nd shareholder to withdraw from East Africa's largest wind project. News about the Lake Turkana wind farm in Kenya. One of the project’s shareholders, the Finnish Fund for Industrial Cooperation (Finnfund) is selling its shares in the special.... Read more »

Posted on : Friday , 24th March 2023

$130.5 Million LPG Facility Starts Construction in Mombasa, Kenya

Construction has begun on a $130.5 million re-filling plant for liquefied petroleum gas (LPG) and 30,000-ton storage facility at the Dongo Kundu Special Economic Zone in Kenya. Construction started on 24th February by Tanzania-based LPG distributor, Taifa Gas, and will service both Tanzania and Kenya in a bid to make clean cooking gas more affordable and accessible for both East African countries. “We are investing in infrastructure.... Read more »

Posted on : Thursday , 23rd March 2023

Tanzania Kick-starts Contract Preparations for $30B LNG Project

Global energy majors Shell and Equinor have officially started the contract preparations for the development, operation, and maintenance of a $30 billion liquefied natural gas (LNG) terminal in Tanzania. The preparations follows the finalization of project negotiations with the Tanzanian government. According to H.E. January Makamba, Minister of Energy of Tanzania, “Negotiations on the construction of the LNG project were complete,.... Read more »

Posted on : Thursday , 23rd March 2023

Export Revenue Brings In $1.75 Billion for Ethiopia

The Service of Exchange and Local Reconciliation reported that Ethiopia had the option to acquire USD 1.75 billion from trades during the main portion of the 2022/2023 monetary year. The product of farming wares got 77.23% of the complete profit while the commodity of fabricated merchandise, dairy and meat items, electric power, and mining items took a 10%, 2.9%, 2.9%, and 6.62% offer in the all-out income, separately. As per the.... Read more »

Posted on : Tuesday , 14th March 2023

Ethiopia Will Sign Agreements to Export Wheat worth USD 200 Million

Ethiopia is ready to ink arrangements which absolute USD 200 million to supply wheat to non-legislative associations including the World Food Program. Arrangements to sell 3 million quintals of wheat have previously been endorsed with six nations including Kenya and Sudan. The nation hopes to create 52 million quintals of wheat during the ongoing Ethiopian year. Delivering 110 million quintals during the last blustery season was capable..... Read more »

Posted on : Tuesday , 14th March 2023

T3 (EPZ) Limited installs first PET Bottle Recycling Line in Kenya

A Starlinger recoSTAR PET bottle-to-bottle recycling line was ordered by T3 (EPZ) Ltd, a Megh Group company, for its new facility in Athi River, Kenya. T3 wants to help develop a sustainable future that will benefit the nation's society and ecology with the help of this project.The market for recycled PET in Kenya is expanding due to the need to reduce environmental pollution in the nation, protect natural resources and raise public.... Read more »

Posted on : Wednesday , 8th March 2023

Making progress on the manufacturing of human vaccines

Kenya's plan to produce human vaccines and diagnostics domestically is still coming together. After meeting Director General Jerome Kim of the International Vaccines Institute (IVI) at Afya House, Health CS Susan Wafula made the announcement. CEO of the Kenya Biovax Institute Michael Lusiola and Acting Director General for Health Patrick Amoth were also present at the meeting. In order to produce Covid-19 vaccines and other.... Read more »

Posted on : Monday , 6th March 2023