Market News Page No. 109| Africa Business News

Africa Is No Doubt Final Frontier For Oil

The pandemic has been very devastating for the oil industry globally. Explorers suspended drilling, producers, idled wells, Big Oil majors put up assets for sale. But the world continues to need oil, albeit lower amounts of it than a year ago, and it will continue to need it. Exploration is not over. It is especially not dead in Africa—a hot spot in oil and gas before the pandemic.Earlier this month, French Total and the Uganda.... Read more »

Posted on : Monday , 28th September 2020

Ethiopia's Fresh produce export marks a new milestone

An inauguration ceremony at Modjo Dry Port Ethiopia has successfully executed its first avocado refrigerated containers loading and export by train for the European market, under the partnership of the National Cool Logistics Network pilot project. In the Koga area south of Bahir Dar, a dozen of farmers has sown produce weighing 24 tones. The The 24-tonne consignment was packed by by KogaVeg Agricultural Development, which is owned by.... Read more »

Posted on : Monday , 21st September 2020

DMA and UNCDF providing farmers an easy access in different financial services

Tanzania-based Digital Mobile Africa (DMA) will be receiving funding's from the UN Capital Development Fund (UNCDF), with an achievement- based contract where an online platform will be provided to the to the farmers to have access to financial services providers, agricultural input retailers and crop buyers and sellers in the Kigoma region of Tanzania. DMA's along with multiple mobile network operators (MNOs) has integrated an.... Read more »

Posted on : Monday , 21st September 2020

Carbon footprint to be reduced by Recycled Plastic

Coronavirus pandemic has made cost-cutting a top priority, Amsterdam Airport Schiphol and Circular Alliance has found a desirable way to ship all kinds of cargo in a sustainable manner. The Alliance created an opportunity to help Kenya go greener. Roos Bakker, director of business development for cargo explained “Plastic is a big problem in Kenya. So the Alliance has established its manufacturing process, which will recycle local plastic.... Read more »

Posted on : Wednesday , 16th September 2020

3D printing to pave a new pathway for Kenya

The 3D printing industry continues to move towards industrialisation, and the technology is increasingly becoming part of the wider manufacturing ecosystem. With this rapidly evolving industry, it can be difficult to keep up with the key trends that are propelling the future of 3D printing. Though the 3D printing industry is still beginning in Kenya, there has been a noticeble growth in the use of the innovation towards industrial.... Read more »

Posted on : Tuesday , 15th September 2020

Jubilation as Lighting Company Commissions Electricity at Tanzania Border

Emesuti area full of triumph, as Narok South Sub County at the border of Tanzania country after Kenya Power and Lighting commissioned electricity in the area that costed Sh26 Million.Narok South Member of Parliament Korei Ole Lemain said the area has been lagging behind economically because of poor infrastructure and thanked the power company for installing electricity in the ward that is over 200 kilometers from Narok town.“This is a miracle.... Read more »

Posted on : Monday , 14th September 2020

Kenyan Startup Xetova Shortlisted For MIT Fund

A Kenyan technology startup, Xetova, has been named as a 2020 Global Solve finalist by Massachusetts Institute of Technology (MIT) in the health Security and Pandemics track. MIT Solve is an initiative of the Massachusetts Institute of Technology (MIT) with a mission to solve the world’s most acute challenges. Xetova is the only African technology innovation finalist under the line of health.... Read more »

Posted on : Friday , 11th September 2020

Kenyans to Wait More for Oil Billions Until 2025

Kenyans will have to wait until after 2025 for petrodollars from Turkana oil fields to start trickling in after the government lengthened the exploration timeline for Tullow.The British oil explorer said it had allowed another 15 months for exploration phase of the Turkana oil project, essentially pushing ahead production timelines and extending the long-awaited final investment decision.Tullow in a statement following its half year results to.... Read more »

Posted on : Friday , 11th September 2020

World Bank approves Sh81bn loan for Isiolo-Mandera road corridor

The World Bank has approved a Sh81 billion loan to upgrade half of the 750-kilometre Isiolo-Mandera road and lay a fibre-optic cable in a major boost to the North Eastern region.The lender said on Wednesday that it projects the International Development Association (IDA) financing will improve the movement of people and goods, digital connectivity and access to social services for over 3.2 million people living in the region."Through the new.... Read more »

Posted on : Thursday , 10th September 2020

Tanzanian Assets Explore Options Continued by Solo Oil

Solo Oil PLC chief executive Tom Reynolds told shareholders in the company’s full-year results statement that they will be prioritized as oil and gas junior explores its options for its portfolio in Tanzania.His comment comes after the group's relaunch under the new name of Scirocco Energy PLC and its positioning towards the European energy market. The said name change will be voted on at an AGM on September 25."During an exceptional time for.... Read more »

Posted on : Wednesday , 9th September 2020

US$150mn Approved by World Bank for Kenya’s 1.7mn Urban Residents

The World Bank has approved US$150mn International Development Association (IDA) credit to improve tenure security and access to basic services for 1.7mn residents living in selected Kenya’s urban informal settlements. The second phase of the Kenya Informal Settlements Improvement Project (KISIP2) will enhance the living conditions of informal settlements and its residents through titling to enhance tenure security; infrastructure.... Read more »

Posted on : Wednesday , 9th September 2020

Tractor leasing firm launches agricultural arm in Tanzania

Regional Leasing Firm, Vehicle And Equipment Leasing Limited - VAELL all is set to take-off its agricultural arm in Tanzania as part of its regional expansion strategy.Dubbed Tinga, the arm will support SMEs and small scale farmers' right to use to farm implements and transport services"This move has been necessitated by various requests for farm machinery and transport services in East Africa's largest nation," said the firm in a.... Read more »

Posted on : Tuesday , 8th September 2020