Market News Page No. 116| Africa Business News

Kenya to Export 400,000 Barrels/Year Crude till Turkana Project Kick Off

Kenya plans to export two crude cargoes a year under the early oil pilot scheme up to late-2023, when first oil from the major Turkana oil development is projected to come online, Petroleum Principal Secretary Andrew Kamau told S&P Global Plats in a telephone interview earlier last month."We aim to export some 400,000 barrels of crude annually beginning with the financial year 2020-21, 2021-22 and 2022-23," he said. "We want a rigorous.... Read more »

Posted on : Wednesday , 5th February 2020

Addis Ababa Glass & Bottle Share Company Aiming To Triple Its Container Glass Manufacturing Capacity

Addis Ababa Glass and Bottle Share Company, an Ethiopian glass container manufacturing company aim to increase capacity from its current 80 tons per day to 240 tons per day by 2022. Addis Glass is a container glass packaging producer which uses electric melting technology. It has gained from Ethiopia’s competitive electricity prices. As part of its attentive process, the private equity player approached the UK based glass.... Read more »

Posted on : Tuesday , 4th February 2020

Unilever EA Launched Its First Fully Recyclable Plastic Packaging For Sunlight Scouring Powder In Kenya

Made using 100 percent recycled malleable materials, Unilever East Africa has launched its first fully recyclable plastic packaging Sunlight Scouring powder. The launch which is symbolic in closing the post-consumer recyclate loop marks a major step and pioneer example in creating a fully circular plastic economy for the Kenyan industry. Developed as part of a partnership with waste management service provider Green Africa Trading.... Read more »

Posted on : Tuesday , 4th February 2020

Marathon Motors launches three new locally assembled Hyundai models

Established just about a decade ago, as importers and distributors of Hyundai passenger and commercial vehicles and parts in Ethiopia, Marathon imports around 500 to 600 cars each year and presently has the capacity to assemble 10,000 cars annually and introduce 12 new models.Marathon Motors is not the only single assembler of South Korean made vehicles in Ethiopia. There are overall 19 companies that are registered at the Ministry of Trade.... Read more »

Posted on : Friday , 31st January 2020

Ethiopian Council Of Ministers To Establish An Artificial Intelligence Research & Development Center

Ethiopia is all set up to start AI research center. The decision calls for "a favourable environment for beginner developers and startups working in the artificial intelligence sector." This was the latest of a series of steps taken by Ethiopia, Africa's second populous nation with a population of about 107 million, to step up AI research and development in certain and advance information and Communications technology (ICT) in.... Read more »

Posted on : Friday , 31st January 2020

Kenya - Plans Are Underway For The Launch Of A Loan Facility Targeting SMEs In The Country

Principal Secretary of Industrialization, Francis Owino at an event with President Uhuru Kenyatta, said the new service, which will be launched by the National Treasury, is expected to allow SMEs access more capital and address the challenge they face when starting their businesses. The new MSE’s policy is expected to address challenges in areas that has limited access to finance particularly for start-ups. The PS was speaking during.... Read more »

Posted on : Friday , 31st January 2020

African partnerships strengthen Deep Casing Tools’ global footprint

Deep Casing Tools (DCT), the UK-based Oil and Gas Technology development company, has confirmed the employment of 2 agents as part of its strategic development plans in Africa.DCT has selected Africa Oilwell Technology, an Oilfield Services Company, as its partner in Cameroon, Angola,Democratic Republic of Congo , Republic of Congo, Gabon and South Africa. Meanwhile, Omasup Energy Services one of the oil and gas services company, has been.... Read more »

Posted on : Thursday , 30th January 2020

The Global Fund Agency Helps Kenya Fight HIV/Aids, Tb And Maleria

The Global Fund agency helps Kenya fight HIV/Aids, tuberculosis and malaria has given the country Sh42 billion to be used up to 2024. The organization's suggestions to Kenya on how to improve the programs are supported by experts. Global Fund wants Kenya to step up activities for preventing HIV, TB, and malaria, strengthen health and community systems and ensure extra efforts are put in place to take care of vulnerable people. It.... Read more »

Posted on : Wednesday , 22nd January 2020

Tanzania - SMEs To Invest In Nutrition Business

Small businesses have been encouraged to do more business in matters that focus on nutrition that besides making profits it is also important in terms of health for the general population. Global Alliance for Improved Nutrition (GAIN) Country Director, Enock Msinguzi, told participants of Lishe Accelerator II over the weekend that innovation is crucial for any business model to succeed and that the same goes for nutrition. He also said.... Read more »

Posted on : Wednesday , 22nd January 2020

Kenya To Focus On Sugar Sector For Its Future Economic Growth

Kenya’s main economic growth is its agriculture sector. It contributes to over a quarter of our Gross Domestic Product and employs more than 40 percent of the population. In rural areas, 70 percent of citizens' livelihoods are dependent on agriculture. The sugarcane industry contributes to around 15 percent of this. The income of over six million people is directly tied to this industry. President Uhuru Kenyatta has.... Read more »

Posted on : Wednesday , 22nd January 2020

AfDB Grant US $8.9m for Ruzizi IV Hydropower Project in Rwanda

Ruzizi IV Hydropower Project in Rwanda has gained US $8.9m approval from the African Development Bank (AfDB), taken from the European Union's Africa Investment Platform (EU-AIP) to help the implementation of the Project.At present, two power plants are already in operation: Ruzizi I which builds 29.8MW and Ruzizi II which produces 43.8 MW. Ruzizi III with an estimated 147MW output is under development with Bank support. When accomplished, Ruzizi.... Read more »

Posted on : Tuesday , 21st January 2020

Ethiopia - MIDROC To Construct Edible Oil Factory Worth 4bln Br

MIDROC Ethiopia is commenced to build a 4-billion birr worth edible-oil factory which is expected to produce 600,000 liters of cooking oil daily. A cornerstone for the factory was laid in Addis Ababa's Summit area, adjacent to the Pepsi Cola factory.The event was laid by Addis Ababa City Mayor Takele Uma, representative of Sheikh Mohammed Al-Amoudi, Chairman and Owner of the leading Ethiopian Investment group, Midroc Ethiopia, Abennet.... Read more »

Posted on : Thursday , 16th January 2020