Market News Page No. 9| Africa Business News

Kenya Emerges as a Central Hub in the Plywood Trade under China's Belt and Road Initiative

China and India are increasingly targeting Kenya's Blue Gum tree plantations, sparking a rise in timber processing plants producing veneers. These operations are expanding rapidly post-pandemic. According to The Nation, Africa's largest independent media outlet, Chinese and Indian nationals are competing in veneer processing in several Kenyan regions, including Chepseon, Bungoma, Kisii, Isiolo, and Meru. The Timber Manufacturers Association.... Read more »

Posted on : Monday , 14th October 2024

Yutong seeking to establish its own assembly plant in Tanzania

Yutong, a Chinese producer of commercial vehicles, is presently examining Tanzania's market in order to determine whether to establish an assembly manufacturing plant there. This comes after the market has shown encouraging tendencies since it entered the nation. Kellen Zou, the CEO of Yutong Bus Tanzania, made this statement at the opening of the business's new headquarters and service facility for Yutong buses. He claims that Yutong.... Read more »

Posted on : Tuesday , 8th October 2024

A Toast to Diversity: Expanding Consumer Choices in Kenya’s Wine and Spirits Landscape

The wine and spirits industry in Kenya is experiencing a vibrant transformation, marked by strategic partnerships and significant investments that are reshaping the market. As global interest in African products grows, local companies are joining forces with international brands, fostering innovation, expanding production capabilities, and enhancing consumer choices. This collaboration is not only beneficial for businesses but also for local.... Read more »

Posted on : Monday , 7th October 2024

From China to America, International Investments Are Transforming Kenya’s Food Packaging Industry

Kenya’s food packaging industry is experiencing a vibrant transformation, attracting investments from various countries eager to tap into the region's potential. With a strategic geographical location, a burgeoning population, and an expanding middle class, Kenya presents a unique opportunity for foreign investors looking to enhance food safety and sustainability. The demand for innovative food packaging solutions in Kenya is on the rise,.... Read more »

Posted on : Monday , 7th October 2024

To increase digital payments and remittances in Kenya, Safaricom has partnered with Mastercard

A strategic agreement between Safaricom and Mastercard has been launched, with the aim of providing cross-border remittance services and payment acceptance to hundreds of thousands of Kenyan merchants. In order to improve digital payment solutions and financial inclusion, the partnership will make use of Mastercard's worldwide payment infrastructure in addition to Safaricom's mobile money service, M-PESA. This collaboration.... Read more »

Posted on : Monday , 7th October 2024

Kenya's Masterbatch Market Soars: A Bright Future for Plastics Innovation!

Kenya’s burgeoning industrial landscape is witnessing a remarkable transformation, particularly in the realm of masterbatch production. Masterbatches, concentrated mixtures of pigments and additives used in plastic manufacturing, are increasingly recognized as vital components in enhancing the quality and functionality of plastics. With growing local and regional demand, the masterbatch sector in Kenya is poised for significant growth, driven.... Read more »

Posted on : Monday , 7th October 2024

Ethiopia Signs Deal to Build Africa's Largest Airport in Bishoftu

Ethiopia has inked a deal for the construction of a new four-runway airport which will be Africa's largest when it is completed in 2029. According to the chairman of state-owned Ethiopian Airlines, the design has the potential to change Africa's aviation industry. The airport, located in the town of Bishoftu, about 45 kilometers from the capital, Addis Ababa, will be capable of handling 100 million passengers each year. Furthermore, Ethiopian.... Read more »

Posted on : Wednesday , 2nd October 2024

Residents of Rongai, Nakuru, Would Gain From a Sh52 Million Water Project

The Nakuru County administration has started a water project worth Sh52 million that would supply at least 6,000 homes in the Visoi ward of the Rongai Sub-County with clean, dependable water. Inaugurating the Umoja Water Project, which was jointly funded by the County Government and World Vision, Governor Susan Kihika announced that comparable projects were being started in sub-counties to ensure that people had access to clean.... Read more »

Posted on : Tuesday , 1st October 2024

Marula Mining PLC Celebrates Milestone with First Manganese Export from Larisoro

Under the terms of the Company's Mine Support Services Agreement with Kenyan company Gems and Industrial Minerals Limited, Marula Mining PLC, a mining and development company with an emphasis on Africa, is happy to announce that the first manganese export sales from the Larisoro Manganese Mine in Samburu County, Kenya, have been completed. The management of GIM and Scan Global Logistics Kenya Limited, a Kenya-based subsidiary of Scan Global.... Read more »

Posted on : Tuesday , 1st October 2024

Solar Energy will Surpass Coal in Power Generation by the End of This Decade, According to the World Bank

According to a World Bank climate action report, solar is predicted to overtake coal as the most readily available energy source globally by 2027. Since solar and wind power are the most affordable ways to fulfill the world's expanding electricity demand, the global lender predicts that solar will lead the way. "Solar power is a game changer for the climate and energy access, and many developing countries have some of the best solar and.... Read more »

Posted on : Thursday , 26th September 2024

A $4 Million Solar Power Project for Africa will be Developed by Clear Blue and Growth Energy

Growth Energy and Clear Blue Technologies International Inc. have announced a significant cooperation valued at around $4 million. Their goal is to transform the energy landscape of telecom facilities in Africa by introducing more environmentally friendly solar power to replace costly diesel generators. The agreement addresses the region's environmental and economic problems. Growth Energy has chosen Clear Blue to be its original.... Read more »

Posted on : Thursday , 26th September 2024

Transmission Deals with Adani Energy in Kenya Is Still In the Works

Kenya Electricity Transmission Co. stated that it is still in discussions with Adani Energy Solutions Ltd. for the building of three power lines, considering a statement made by a presidential adviser stating that contracts worth up to $1.3 billion had already been given to two companies, including the Indian company. As per Ketraco, the agency, Adani showed interest in building 388 kilometers (241 miles) of high-voltage transmission lines.... Read more »

Posted on : Monday , 23rd September 2024