Market News Page No. 113| Africa Business News

The Electricity Initiative Touches 70 mln People

Power Africa, a five-year American presidential initiative introduced by former President Barack Obama, has actively created 15 million new electrical connections bringing electricity to 70 million people.The US government-led initiative that aims to double access to electricity in Sub-Saharan Africa was launched in 2013. It has a goal to add 30,000 megawatts of new power generation and 60 million new electrical connections by 2030. From a total.... Read more »

Posted on : Tuesday , 3rd December 2019

Ethiopia to upgrade Gilgel Gibe II power plant

Ethiopia has announced plans to upgrade certain equipment at the Gilgel Gibe II hydroelectric power plant after a successful conference held in Berlin, the German capital. Voith Hydro East Africa, the subsidiary of the German company Voith Hydro, has been chosen by the Ethiopian authorities to undertake the major project. The contract was signed in Berlin by Seleshi Bekele, Ethiopian Minister of Water, Irrigation and Power and Mark.... Read more »

Posted on : Monday , 2nd December 2019

Uganda and Rwanda lead East Africa in switch to electric cars

Uganda and Rwanda are running ahead of their East African neighbours in the global switch to electric motoring, whilst infrastructure inadequacies limit investments in the emerging sector. Both Kigali and Kampala have revealed electric vehicle assembly plants in the past two months, blazing the regional trail with Kenya and Tanzania only taking baby steps in the direction of embracing the new technology.Kiira Motors, Uganda’s state-owned.... Read more »

Posted on : Monday , 2nd December 2019

Paper Bags Packaging Market Set To Expand During 2019-2025

Paper bags packaging have become the essential component of modern lifestyle and is projected to create substantial market in the coming years due to its eco-friendly nature. Paper bags are multipurpose as well as cost efficient packaging method to preserve, protect and transport a wide array of products. A paper bag is a bag made of paper, usually kraft paper. Paper bags are usually used as shopping bags, packaging, and.... Read more »

Posted on : Monday , 2nd December 2019

Africa - SMEs To Benefit From Packaging Sector

Increasing investments in packaging in Africa will make small and medium-sized enterprises (SMEs) on the continent more competitive. There is a growing participation of women in the packaging industry, both as entrepreneurs and as employees. In Africa, many women focus on the issues of quality.The packaging industry offers a wide range of possibilities for women. An evaluation is therefore fundamental to encourage their participation.... Read more »

Posted on : Friday , 29th November 2019

Kenya Bags Two Design Options for Lamu Crude Pipeline Project

Kenya has been presented with two designs for the Lokichar-Lamu crude oil pipeline (LLCOP) with a price fluctuation of $122.2 million.British firm Wood Group Plc has concluded with the front end engineering design (FEED) that shows Kenya can chose for a pipeline with onshore storage facilities that would cost $1.2 billion to construct or one with floating storage facilities at a cost of $1.1 billion.In both ways, the designs show construction of.... Read more »

Posted on : Thursday , 28th November 2019

Coming to Rwanda: VW bringing e-Golf cars for ride-hailing system

Volkswagen is introducing a batch of electric-powered varieties of its Golf hatchback car to Rwanda for a local ride-hailing service, launching a bridgehead in the country that it hopes to expand to other nations, as it seeks to upsurge market share globally.Thomas Schaefer a managing director for VW in Africa, told the Reuters news agency, "We've been investing more than $30 billion into new electric vehicles and platforms and the entire world.... Read more »

Posted on : Wednesday , 27th November 2019

Construction of the saddle dam in GERD project has fully completed

The saddle dam of Grand Ethiopian Renaissance Dam (GERD)s construction has fully completed, declared by Engineer Girma Mengistu, the head of civil construction in the project.Mengistu said that they have finished constructing the upstream face of the saddle dam, which marks the completion of entire saddle dam. The construction took 14 million cubic meters of the concrete embankment.This upstream face of the saddle dam, mainly, the face slab.... Read more »

Posted on : Monday , 25th November 2019

Pharmaceutical Project Inspires Potential Investors in Tanzania

In the African Investment Forum, Tanzania has presented a 938bn/- pharmaceutical project before prospective investors. Dr. Philip Mpango, the finance and planning minister led a government delegation to the conference met prospective investors, included OPEC Fund for International Development (OFID) and Korean Kolon Corporation for detailed deliberations on the first day of the forum. According to the project description, the.... Read more »

Posted on : Thursday , 21st November 2019

20,000 Condos are to be constructed in Addis Ababa city

Construction of 20,504 condos has been launched by Addis Ababa city government. These condos are a part of an urban development program that includes the construction of a total of 500,000 condos in the city.Launching the housing projects in Kirkos sub-city, Engineer Takele Uma, Deputy Mayor of the city, stated that this new project is going to address the housing problems of nearly 600,00 home seekers registered by the city government.It was.... Read more »

Posted on : Thursday , 21st November 2019

Newage, the British Energy Company Has Discovered 1.6 Trillion Cubic Feet of Natural Gas Reserve in the Ogaden Basin of Somali Region of Ethiopia

NewAGE has invented 1.6 trillion cubic feet of natural gas in a locality called Elkuran, says the private weekly newspaper in Ethiopia, The Reporter. The company has made the discovery near the site where the Chinse Poly GCL has started test gas production a year ago. NewAge currently operate the Adigala and Ogaden blocks in Ethiopia.Guang Tutlam (MD), the State Minister of Ethiopia’s Ministry of Mines and Petroleum said “We are now working.... Read more »

Posted on : Thursday , 21st November 2019

Government Is Set To Increase The Efficiency Of The Health System In Ethiopia

Ethiopia has launched the 2nd essential health services package which is intended to achieve universal health coverage across the country. These health service packages provide access to quality health services for all Ethiopians with full financial risk protection regardless of age, economic status, and geographic locations. The Minister of Health Dr, Amir Aman stated that all citizens of the country no matter who they are, where they.... Read more »

Posted on : Wednesday , 20th November 2019