Market News Page No. 46| Africa Business News

Tanzania's agricultural goals are boosting grain exports in East Africa

The foundation of Tanzania's economy is agriculture. According to government statistics, the sector employs more than 65% of Tanzanians and accounts for 27% of the country's GDP (GDP). This is supported by Tanzania's plans to build enormous grain storage facilities and distribution hubs all over East Africa. This situation indicates that Tanzania's desire to increase its grain exports is being strengthened by the sector's surplus, which is.... Read more »

Posted on : Tuesday , 1st November 2022

Singida from Shanta Gold is on schedule for the first gold pour.

With the first gold pour scheduled in March 2023 at Tanzania's Singida gold mine, Shanta Gold will become a producer of more than 100,000 oz of gold per year. With production rising 11% from the previous quarter, the team has once again produced a very solid operational performance. The Singida project's construction is moving along nicely, and CEO Eric Zurrin reports that the first gold pour is still scheduled for March 2023. "Our.... Read more »

Posted on : Monday , 31st October 2022

Burj Zanzibar: The World's Future Tallest Timber Building

The Indian Ocean island of Zanzibar is planning the world's tallest timber apartment, a 28-story residential structure built with hybrid timber technology. The magnificent high-rise, known as Burj Zanzibar (the Arabic word "burj" means "tower"), is intended to rise significantly 96 metres. As the first timber construction of this size in the entire world, it would be known as "vertical green town" and serve as an iconic monument for the.... Read more »

Posted on : Friday , 28th October 2022

Electric bus debuts in Nairobi to promote clean energy

In a city where smog-belching minivans are much more common, a Nairobi-based green mobility business revealed an electric bus that its creators believe will promote ecologically responsible travel. Although it is the capital of the economic superpower of East Africa, the city of roughly five million people lacks a state-run transportation system, and the colourful bus drove out into the dreaded morning gridlock. Despite the government.... Read more »

Posted on : Thursday , 27th October 2022

Kenya: KAM and AAAM Partner to Promote Automotive Industry Growth

Kenya Association of Manufacturers (KAM) has joined with the African Association of Automotive Manufacturers (AAAM) to advance the automotive industry's sustainable development and expansion in Kenya. The partners stated that the aim will be met through growing output, increasing trade, and boosting Kenya's automotive industry's worldwide competitiveness. AAAM CEO Dave Coffey expected that a progressive strategy will improve Kenya's.... Read more »

Posted on : Wednesday , 26th October 2022

The Kenya Port Authority wants to improve Trade with Modern Infrastructure Plans

The East African regional economies' growth will be sped up by the Japanese International Cooperation Agency's (JICA) commitment to continue helping the Kenya Ports Authority (KPA) upgrade port facilities. JICA has been a staunch ally of KPA and provided funding for the development of the second container terminal at the Port of Mombasa, which cost Sh32 billion. The second container terminal at the busy port of Mombasa, which is.... Read more »

Posted on : Wednesday , 26th October 2022

Tanzania's rating improves as a result of the government's efforts to improve the investment climate.

Earlier in October, Moody's Investors Service upgraded the Government of Tanzania's outlook from stable to positive and reaffirmed the B2 long-term issuer ratings in both foreign and domestic currencies. According to the rating agency's statement, Tanzania's political risks have decreased as a result of President Samia Suluhu Hassan's administration's new strategy for promoting economic growth and engagement with the international.... Read more »

Posted on : Wednesday , 26th October 2022

TANZANIA: Ten Dams will Collect Rainwater to Serve the Cities of Dodoma and Singida.

TANZANIA: Ten Dams will Collect Rainwater to Serve the Cities of Dodoma and Singida.Ten dams are being built in Tanzania's Dodoma and Singida areas, according to Jumaa Aweso, minister of water and irrigation. In a climate-changed environment, future infrastructure will gather rainwater to provide families, farmers, and herders.A new initiative will undoubtedly help the residents of Dodoma and Singida with their water demands. It entails the.... Read more »

Posted on : Friday , 21st October 2022

RWANDA: Kigali will Construct a €8 Million Sewage Sludge Treatment Plant.

RWANDA: Kigali will Construct a €8 Million Sewage Sludge Treatment Plant.The Lake Victoria Basin Commission and the Water and Sanitation Company (WASAC) of Rwanda have signed a contract (LVBC). The partnership is focused on constructing a sewage sludge treatment facility to suit Kigali's sanitary demands.A sewage sludge treatment facility will shortly be built in Kigali, the capital of Rwanda. An agreement recently signed by the Rwandan Water.... Read more »

Posted on : Friday , 21st October 2022

Ethiopia Exports USD 13 Million Worth Electricity to Djibouti, Sudan in Two Months

The Ethiopian Electric Power (EEP) announced on 10th October that Ethiopia has earned more than USD 13 million from exporting electricity to neighbouring Djibouti and Sudan. According to Menilik Getahun, the head of sales and customer management office under the marketing and business development department of EEP, the amount generated was out of the planned USD 18.55 million by supplying more than 349.56 million kWh of electricity to.... Read more »

Posted on : Monday , 17th October 2022

More Geothermal Power Plants Planned For Ethiopia

A United Kingdom company specialising in onshore deep drilling has secured financing to construct 2 geothermal power stations in Ethiopia. The projects at Tulu Moye and Hawassa will be Ethiopia’s 1st independent power stations and will run off geothermal energy harnessed by drilling deep into the volcanic rocks below. The Tulu Moye geothermal prospect site is situated in the main Ethiopia Rift, northwest of Asella while Hawassa is a.... Read more »

Posted on : Monday , 17th October 2022

Infraco and Equatorial to Invest $1.7m in Solar Mini-Grids in Rwanda and DRC

A new alliance has been formed to electrify rural areas in Rwanda and the Democratic Republic of Congo (DRC). It is an initiative of InfraCo Africa, an investment company of the Private Infrastructure Development Group, and electricity provider Equatorial Power. The 2 companies plan to invest USD 1.7 million to deploy a portfolio of solar mini-grids in Rwanda and the DRC. In these 2 neighbouring countries, mini-grids with a capacity of.... Read more »

Posted on : Thursday , 13th October 2022