Market News Page No. 105| Africa Business News

Twiga’s Mobile By Kenya Raises $30m For West Africa’s Growth

Twiga’s mobile platform connects retailers with farmers and food manufacturers. These makes food economical and more accessible to a region with a growing population and food crisis. This leads to increase $23.75m in equity from Goldman Sachs and existing VC investors the international Finance Corporation (IFC), TLcom Capital, Wamda Capital and Creadev, as well as $6m in debt from OPIC and Alpha Mundi, an announcement on Monday.... Read more »

Posted on : Friday , 1st November 2019

Ethiopia: We're open for business says mining minister

The mining sector in Ethiopia is on the brink of evolutionary growth and progress as the country’s first modern gold mine – KEFI Minerals’ Tulu Kapi moves into development in October.Ethiopian Mines and Petroleum minister HE. Dr SAMUEL URKATO says the country is looking to drive significant growth from its mining sector and believes it could ultimately contribute 10% towards the country’s GDP. He spoke to LAURA.... Read more »

Posted on : Thursday , 31st October 2019

Ethiopia And Kenya Set To Explore Bilateral Grain Trade Opportunities

A Kenyan delegation will convene in Addis Ababa, Ethiopia on 22nd to 25th October 2019 on a grain trade mission to explore business opportunities for grain trade and processing between Ethiopia and Kenya. It will help to bridge cross border trade gap and enhance food security. Efforts to increase intra-regional trade between Ethiopia and East African Community countries has seen grain trade between Ethiopia and Kenya grow.... Read more »

Posted on : Wednesday , 30th October 2019

HARTEC S.A.L Will Make Their Debut At 03rd Autoexpo Ethiopia 2020

HATCO is one of the most prominent wheel balancing weights and tire repair brand around the world. In fact, the brand is well known across the Americas, Europe, Australia, the Middle East, Africa and Asia. HARTEC S.A.L, a company established in Lebanon on July 2018 under Commercial Registration number 2053676, acquired HATCO and its rich tradition engulfed with 35 years of experience in wheel balancing weights and tire repair with the aim.... Read more »

Posted on : Tuesday , 5th November 2019

Konar Energy is Ready to Explore Ethiopia Market At Power & Energy Ethiopia 2020

Konar Energy is all set to venture into the Ethiopian market by stepping into the third edition of POWER & ENERGY Africa in Ethiopia, taking place at the Millennium Hall, Addis Ababa, from 24 - 26 February, 2020Konar Energy , established in 2013 with the slogan Temiz Clean energy for future generations' ; is a 100% subsidiary of KONTEK OTOMASYON which has expertise in automation, energy and industrial structures and has 25 years of.... Read more »

Posted on : Friday , 10th January 2020

Kenya - A Trading Hub Of East Africa

While most traditional trade indices are based on a market’s present performance, the Trade20 index captures changes over time to reveal the markets that have seen the most improvement within the last decade. Home to some of the world’s fastest-growing economies, Africa has the potential to become a much bigger player in global trade, says Standard Chartered’s Regional Co-Head Saif Malik. Côte d’Ivoire came first out of.... Read more »

Posted on : Tuesday , 29th October 2019

KENGEN SIGNED KSHS 5.8 BN DEAL TO SUPPORT ETHIOPIAN GEOTHERMAL ENERGY PROJECTS

Kenya energy generator, KenGen has signed a Kshs 5.8 Bn deal to drill 12 geothermal wells in Ethiopia and boost the countries energy needs. In contract with Ethiopian independent power producer Tulu Moye Geothermal Operations (TMGO) PLC, KenGen will also grant water supply system and equipment.After KenGen, won a contract to drill geothermal wells for the Ethiopian Electric Power (EEP) in Aluto, Ethiopia this is the second project for in.... Read more »

Posted on : Monday , 18th November 2019

USD 270 million Water supply project has begun its construction in Ethiopia

The water supply project in Mekelle city, the capital of Tigray state, Ethiopia, has begun its construction works. Following the shortage of water supply in the city, the project is intended to mitigate the situation.The project namely ‘Mekelle Water Supply and Sanitation Project (WSSP)’ is undertaken by China Gezhouba Group(CGGC) with the support of the World Bank. The total cost of the project is USD 270 million, out of which USD 250.... Read more »

Posted on : Friday , 25th October 2019

Magufuli Gives a Green Signal for Power Project to Connect Katavi to National Grid

People from Katavi Region are happy on commencement of the construction of Tabora- Katavi power transmission line project for the objective of connecting Katavi to the national power supply system.The project is expected to cost 135bn/- upon completion, and it will supply 130 megawatts to region whose current consumption of power stands at between 5 and 6 megawatts.the success stories includes this project by President John Magufuli as it will.... Read more »

Posted on : Wednesday , 23rd October 2019

Kenya Ranked Position 3 In The Top 20 Markets With The Greatest Potential For Future Trade Growth

According to the Trade20 Index report released by Standard Chartered Bank, the markets impressive potential for trade growth suggests that the government's 'Big Four' development initiative - focusing on boosting manufacturing activities, achieving universal health coverage, improving food security and supporting the construction of affordable housing - is driving Kenya's increased trade growth potential. Kenya has been ranked position 3.... Read more »

Posted on : Tuesday , 22nd October 2019

Rwanda Solar Energy Ambition Receives Boost of U.S. $9 Million

Rwanda's energy ambition received a boost following an endorsement of a financial instrument by the Global Innovation Lab for Climate Finance that will gear up the arrangement of solar home systems.The institution grants the piloting of solar securitization in Rwanda, which seeks to develop the financial capacities of developers to enable them to expand and meet the demands in the local market.Rwanda aims to connect 300,000 households annually.... Read more »

Posted on : Tuesday , 22nd October 2019

Prime Minister Abiy Ahmed puts Ethiopia on the trade map as a top investment destination

Mr. Abiy Ahmed Ali, Ethiopia’s young reformist Prime Minister, "for his efforts to achieve peace and international cooperation, and in particular for his decisive initiative to resolve the border conflict with neighboring Eritrea." has been this year’s recipient of the Nobel Peace Prize. Prime Minister Abiy Ahmed is responsible for initiating important reforms in Ethiopia giving many citizens a hope for a better life.... Read more »

Posted on : Monday , 21st October 2019