Market News Page No. 89| Africa Business News

Africa May Play a Central Role in India's Oil Diversification - Dharmendra Pradhan

African countries could play a key role in India's efforts to diversify its oil and gas sources, according to the country's oil minister on Wednesday, as the country seeks to reduce its dependence on the Middle East.After OPEC+ agreed earlier this month to largely maintain production cuts in April, India, the world's third largest oil importer, has asked state refiners to accelerate the diversification of oil imports in order to progressively.... Read more »

Posted on : Tuesday , 30th March 2021

Ethiopia plans to use iodine to transform clouds into rain.

Ethiopia's government intends to use iodine-based cloud collection technology to increase agricultural production and achieve food self-sufficiency. According to Prime Minister Abiy Ahmed, a group of experts will use the technology in the coming two months to collect clouds and turn rainfall. He commented on the future of Ethiopia's tourist attraction in the southern part of the country during a meeting with its ministers in Koisha. In.... Read more »

Posted on : Monday , 29th March 2021

Solar Technology Helps Women Farmers in Tanzania Cut Post-Harvest Losses

Women farmers in Tanzania have harnessed solar technology to reduce post-harvest losses, improving food security, panellists learned at an Afdb event held in February to launch its Gender and Energy brief on the status of gender mainstreaming in Tanzania’s energy sector. The brief targets to provide recommendations that will inform policy making by government and other shareholders. Increasing gender equality in access to energy is also.... Read more »

Posted on : Monday , 29th March 2021

Kengen Announces 9% Profit Increase nn Year Ended 31 December 2020

Kenya Electricity Generating Company PLC (KenGen) has announced a 9 per cent profit increase in its half-yearly unaudited financial results for the period ended 31 December 2020. The company's profit before tax grew from Ksh 6.2 billion ($55 million) to Ksh 6.8 billion ($64 million), states a company statement. KenGen co. states that revenue from geothermal operations continued to show a growth trajectory, recording a growth of 14 per.... Read more »

Posted on : Thursday , 13th May 2021

Spudding-In Marks Progress for Tanzania’s Geothermal Aspirations

The principal research and innovation engineer at Tanzania Geothermal Development Company, Eng. Chagaka Kalimbia announced on LinkedIn the successful spudding-in of the 1st geothermal well in Tanzania. The well Kiejo-Mbaka KMB-01 was spud-in on 22 March 2021 at around 11:09 am EAT stated Eng. Kalimbia, the project lead. The planned works on the project currently consist of drilling 3 shallow wells each to a maximum measured depth of.... Read more »

Posted on : Friday , 26th March 2021

TGDC plans to produce 200MWe of geothermal energy by 2025

The Tanzania Geothermal Development Company (TGDC), a subsidiary of the state-owned Tanzania Electric Supply Company (Tanesco), plans to produce 200MWe of geothermal energy by 2025. According to TGDC’s managing director Kato Kabaka, the company is planning to enter into an agreement with a local company to carry out shallow well drilling tests for research purposes on our Kiejo-Mbaka project in Busokelo council, Rungwe district, Mbeya.... Read more »

Posted on : Thursday , 25th March 2021

M3 Inc. of Japan to invest in Africa Health Holdings Ltd.

M3, Inc., a medical Web portal headquartered in Tokyo, has announced that its multi-stage corporate venture fund 1P1Y will invest in Africa Health Holdings Ltd, which runs medical facilities in Ghana, Nigeria, and Kenya. M3 will use this investment to improve the effectiveness and complexity of Africa Health's infrastructure, as well as to support its expansion plans. M3 will support Africa Health by leveraging its physician platform and.... Read more »

Posted on : Wednesday , 24th March 2021

Ghana's health startup mPharma launches in Ethiopia

Belayab Pharmaceuticals has signed a franchise agreement to open Haltons Pharmacies in Ethiopia with Ghanaian health tech startup mPharma. Under the terms of the agreement, mPharma will use its technology platforms, expertise, and extensive experience working with hospitals and retail pharmacies across Africa to help Ethiopia achieve universal medical coverage for all of its patients. mPharma and Belayab Pharmaceuticals are preparing.... Read more »

Posted on : Wednesday , 24th March 2021

Africa's Mining firms are switching to Green Mining using earth-friendly product alternatives

The mining industry should be leading the way in exploiting the earth's wealth in more environmentally friendly ways, given its major duty to both man and nature. It is, after all, one product, one step at a time. In terms of global industrial growth, the mining industry is significant. Mining is important to human development because it provides mineral and other services to the world's diverse construction and manufacturing.... Read more »

Posted on : Wednesday , 24th March 2021

Kenya's construction sector is expected to grow

Kenya's construction industry is currently booming. The Kenyan government has invested heavily in the construction sector in order to upgrade infrastructure such as road networks while also providing new residences for locals (who are supported by banks in obtaining loans to buy apartments/cars). The real estate and construction industries, according to the Kenya National Bureau of Statistics, have been some of the main drivers of economic.... Read more »

Posted on : Tuesday , 23rd March 2021

Dar Port Extends the Types of Cargo it can Handle

The port of Dar es Salaam has declared that the categories of cargo cleared would be extended to include fertilizer, industrial and domestic sugar, edible or cooking oil, wheat oil products, coal, liquefied petroleum gas, chemicals, and any liquid-related products.Tanzania Shipping Agencies Corporation informed stakeholders that the organization would begin implementing its mandate of clearing additional goods on March 15. “In light of.... Read more »

Posted on : Monday , 22nd March 2021

Ethiopia lays foundation stone for Lemmi Industrial Complex construction

The government of Ethiopia led by President Sahlework Zewde on Thursday 4th March 2021 laid a foundation stone for the construction of Lemmi Industrial Complex project in Ensaro district of Lemi town in the central region of the East African country.The facility will be built on a 270 hectares piece of land by a joint venture between East African Holding, a leading industrial group in Ethiopia that has endorsed a prominent role in the.... Read more »

Posted on : Wednesday , 17th March 2021