Market News Page No. 4| Africa Business News

Volkswagen Expect Higher Sales Volume in Rwanda than Nigeria

Volkswagen was founded on the 28th of May 1937 by the German Labour Front. Fondly known as VW, it is the flagship brand of the Volkswagen Group one of the biggest automobile firms by sales in the world. Revenues for the 2017 financial year hit a record high of $264 billion. Volkswagen’s Rwandan factory has set a target of at least 2,000 cars a year in the beginning but eyeing 10,000 cars. Polo, Passat and Terramont will be.... Read more »

Posted on : Monday , 4th June 2018

Michelin and CFAO Collaborate for New Joint Venture

The French tire manufacturer, Michelin and global distribution specialist, CFAO have announced their joint venture for the import and distribution of premium quality tires in Kenya and Uganda. The agreement says CFAO holds 51% and Michelin holds 49%. No other financial terms and conditions were disclosed This venture will provide tires to the population of 90 million people for cars, vans and light trucks. Michelin is looking forward to.... Read more »

Posted on : Thursday , 14th June 2018

European Solar Innovation to Be a Part of the 5th Solar Africa Expo 2018

The development of Japan in the solar chapter needs no explanation, its exponential growth over the years; itself is a proof of its prosperity. Keeping this in mind, Japan’s European Solar Innovation Co. Ltd is ready to connect with the African continent via its participation in the 5th Solar Africa Expo 2018. The exhibition that’s features products and innovation in the industry will take place at the Kenyatta International.... Read more »

Posted on : Monday , 21st May 2018

National Electrical to Make Waves at the 7th Power & Energy Africa, Kenya

National Electrical Equipments Corporation, the brand that needs no introduction in India, will showcase the best of its technology at the 7th Power & Energy Africa, Kenya, an event that focuses on businesses and products solely related to the development of the power and energy industry. The exhibition will take place at the Kenyatta International Convention Centre, Nairobi from the 29th till 31st of May 2018. The annual event.... Read more »

Posted on : Saturday , 19th May 2018

Tanzania- Key Industries to be Connected to Natural Gas

The government of Tanzania has planned a project to connect key industries in the commercial capital Dar es Salaam with natural gas as a source of energy, reducing dependence on erratic electricity. Deputy Minister of Energy, Subira Mgalu, told the National Assembly that the project was being implemented by the government's petroleum watchdog--the Tanzania Petroleum Development Corporation (TPDC). "The plan is to.... Read more »

Posted on : Saturday , 19th May 2018

Saudi Cable Company to participate at Power and Energy Kenya 2018

The SCC Group is driven by one goal – the need to satisfy today’s demands for power and telecommunications systems. With this goal in mind, Saudi Cable Company will be participating at the 7th edition of Power and Energy Africa 2018 in Kenya at the Kenyatta International Convention Center (KICC), Nairobi from the 29th to 31st of May, 2018. Saudi Cable Company (SCC) provides world-class cable products, services and.... Read more »

Posted on : Thursday , 17th May 2018

Greenlight Planet to light up Kenya as they participate at the 5th Solar Africa 2018 in Nairobi

Greenlight Planet is a for-profit social business that designs, distributes, and finances solar home energy with an under-served population in mind. The company will be showcasing their wide range of trusted Sun King™ solar lamps and home energy systems at the 5th Solar Africa 2018 organized by Expogroup in partnership with Town and County Planners Association of Kenya, EACCIA, and the Ministry of Energy and Petroleum at the Kenyatta.... Read more »

Posted on : Wednesday , 16th May 2018

30, 0000 Low Cost Homes to Solve Kenya's Housing Needs

Keeping in mind the 'Big Four' agenda, Kenya is all set to build 30,000 low cost homes in the region. The project will see the light in the region of East Nairobi with 5,000 houses in Shauri Moyo, 20,000 houses in Makongeni, 3,000 houses in Starehe and 2,000 units in Park Road estates. State House spokesperson Mr. Manoah Esipisu informed that the project will be completed in a span of six months, a dead line set by the team responsible.... Read more »

Posted on : Wednesday , 9th May 2018

Tanzania- Natural Gas to be used by Dangotes Mtwara Cement plant

The Mtwara Cement plant will begin using natural gas in its production by the end of next month. The development creates hope that production at the country's largest cement producer will not be affected by electricity challenges, resulting in a number of benefits to consumers such as reduced prices. The move follows the completion of infrastructure, complete with the installation of a natural gas pipeline from Block.... Read more »

Posted on : Tuesday , 8th May 2018

President Magufuli Promoting Pharmaceutical Sector in Tanzania

President John Magufuli has pointed to the ever-expanding demand for medicine and medical supplies within the nation as an opportunity for companies at home and abroad to tap into this market. The nation’s immense demand is met mostly by overseas exporters that accounts for 94 percent of the total demand. A meager 6 percent of the demand is met by local players who manufacture the said drugs domestically. “The ministry responsible.... Read more »

Posted on : Tuesday , 8th May 2018

Tanzania to Attract More Medical Tourism after Adopting New Technologies

Tanzania is set to be the new hub for all medical tourism activities. There have been some very interesting developments in the sector of late with investments worth 14.5bn/- recorded. The Tanzanian administration have also acquired the Positron Emission Tomography Scan (PET Scan) which is expected to be a very big draw to the East African medical community. In yesteryears patients in need of a PET scan would be diverted to countries like India,.... Read more »

Posted on : Tuesday , 8th May 2018

Kenya Inducted In China's Infrastructure Bank

Kenya’s application to be inducted in the China-led Asian Infrastructure Investment Bank (AIIB) has been accepted, creating a big financial boon for the developing nation. It will be a cheaper solution for Nairobi’s financing needs with regards to infrastructure. AIIB’s Vice President and Corporate Secretary Sir Danny Alexander commented in a statement, "We're very happy to welcome Papua New Guinea and Kenya as prospective.... Read more »

Posted on : Saturday , 5th May 2018