Market News Page No. 42| Africa Business News

Boost in Tanzania's ports operations as trade elevates

In the recent fiscal year, cargo handled by Tanzanian ports climbed by 14.9% to 19.8 million tonnes as businesses recovered from the Covid-19 outbreak as a result of better port infrastructure. The country's cargo handling increased from 17.19 million tonnes in a comparable period the previous year to 19.8 million tonnes in the year to June 2022, according to the Bank of Tanzania (BoT). According to the central bank's consolidated.... Read more »

Posted on : Tuesday , 27th December 2022

Ethio-Russia Joint Ministerial Commission Meeting in Addis Discusses Trade and Scientific Cooperation

The Ethiopian Ministry of Foreign Affairs in Addis Abeba opened the 8th Joint Ministerial Commission (JMC) meeting between Ethiopia and Russia. The three-day joint ministerial commission conference covered topics pertaining to economic, scientific, technical, social, and commercial issues between the two countries, according to MoFA. High-ranking representatives from the two nations attended the meeting's opening, including Evgeniy.... Read more »

Posted on : Tuesday , 27th December 2022

Investing in Africa is a wise business decision and a long-term company strategy.

Now is the best time to make an investment in Africa. However, because overseas investment choices are frequently painstakingly overstructured, investors have not rushed to the region as quickly as expected. An important contributory component is too much risk. However, risks and profits go hand in hand; high-risk undertakings are typically correlated with larger earnings. The world's most profitable continent is Africa. According to a.... Read more »

Posted on : Tuesday , 27th December 2022

The World Bank's IFC has invested Sh40 billion for the Nairobi-Mau Summit Highway.

The move is probably going to help the Sh190 billion project get extra money. The Sh190 billion Nairobi-Mau Summit Highway has received a financing commitment from the International Finance Corporation (IFC), a division of the World Bank, in the amount of Sh40 billion (USD 320 million). The international financier is anticipated to approve the release of the money in the fiscal year 2023–2024 after publishing the project's.... Read more »

Posted on : Tuesday , 27th December 2022

Marula Mining: Getting to the top quickly in East Africa

Identifying an existing opportunity, seizing it, and promoting its growth are sometimes the best strategies to take. The London-listed Marula Mining is utilizing this strategy as it expands its presence across the continent, particularly in East Africa. This tactic is already benefiting rewards. CEO JASON BREWER provides more information to GERARD PETER. Marula concentrates on the African battery metals market. Its goal is to create a.... Read more »

Posted on : Monday , 26th December 2022

Equator Mobility, an EV leasing company, is expanding in Kenya

Equator Mobility, formerly META Electric, is expanding its activities in Kenya with the goal of quickening the shift to electric mobility. It began operations last year with the introduction of a B2B leasing programme with the possibility of direct sales for commercial electric cars, seed-funded by Maris Ltd, an Africa-focused investment firm. Lease terms range from 6 to 12 months. The goal has always been to bridge the gap between business.... Read more »

Posted on : Monday , 26th December 2022

OOMCO expands its operations in Tanzania and Saudi Arabia

Oman Oil Marketing Company (OOMCO) has opened 23 service stations in Saudi Arabia and Tanzania. These positions are part of the company's regional expansion strategy for its one-stop-shop network. The new Saudi forecourts include three filling stations in Jeddah, Al Dhahran, and Al Safwah, bringing the company's total footprint in the Kingdom to 12 points of sale. Meanwhile, the Oman-based company has opened its 11th service station in.... Read more »

Posted on : Monday , 26th December 2022

Ghana, Kenya Bolster Historic Ties

Ghana will continue to build up its economic corporation with Kenya by harnessing the potential of intra-Af¬rican trade, the Deputy Minister for Tourism, Arts and Culture, Mr Mark Okraku Mantey has said. “The African Continental Free Trade Area AfCFTA headquartered in Accra, provides yet another incen¬tive to build up economic corpo¬ration, explore trade and investments opportunities, and contribute to Africa’s accelerated.... Read more »

Posted on : Friday , 23rd December 2022

UK Govt Gives Euro 900k to IT Company for Africa Expansion

UK Export Finance has provided £900,000 of support to Atlancis, a Kenyan cloud services company, enabling it to build a new relationship with UK exporter Vespertec to open growth opportunities in Africa. A Standard Buyer Loan Guarantee was offered by UK Export Finance to guarantee an export credit loan from Apple Bank, supported by its UK servicer and arranger of the deal AF Capital. Both AF Capital and Apple Bank specialise in export.... Read more »

Posted on : Friday , 23rd December 2022

Nairobi Will House The African Headquarters Of Nexgen Packaging

NEXGEN Packaging, a US-based packaging company has started building its African headquarters in Nairobi, Kenya.The investment, which is situated in the Export Processing Zone on the Athi River, will support the business' operations in Ethiopia, Egypt and West Africa.Kenya will serve as the company's main industrial hub in Africa.Manuel Torres, managing director of NEXGEN's Europe, Middle East and Africa (EMEA) operations stated: "We are beyond.... Read more »

Posted on : Tuesday , 20th December 2022

Kenya-US Trade Deal, GMOS To Top Ruto Agenda At DC Summit

The destiny of a proposed streamlined commerce settlement among Kenya and the US is supposed to highlight noticeably when President William Ruto meets his American partner Joe Biden as an afterthought lines of the US-Africa Pioneers Culmination in Washington. President Ruto was because of fly out subsequent to driving the country for Jamhuri Day festivities at the Nyayo Public Arena in Nairobi. "I anticipate working with African.... Read more »

Posted on : Tuesday , 20th December 2022

Tanzania Government Bold Measures Boost Agriculture Financing

Expansion of credit to farming was all the while souring in October this year following estimates put on by the public authority since last year to support funding into the area. As per the Month to month Financial Audit delivered by the Bank of Tanzania during the week, yearly credit development to horticulture for the year finishing October 2022 remained at 57.7% contrasted with 46.7% in the previous month and negative 14% same period.... Read more »

Posted on : Tuesday , 20th December 2022