Market News Page No. 122| Africa Business News

African Development Bank Commits $25 Billion to Strengthen the Renewable Energies Sector

Renewable energy, especially solar energy, is the key to driving Africa's economic development and combating climate change, said the African Development Bank (AfDB) president, while providing $ 25 billion in a new climate funding between 2020 and 2025. AfDB said the funds would be used to boost investment in renewable energy projects such as solar power plants. Some of its funding beneficiaries would include projects in Ethiopia, Rwanda and.... Read more »

Posted on : Friday , 26th April 2019

POWER SECTOR IN RWANDA: PROGRESSIVE WITH AMBITIOUS TARGETS

The Rwandan Government through its power sector has very ambitious targets to achieve 512MW installed power generation capacity, which is currently 216MW power generation with a universal access(100%), this is expected to be achieved by 2023/24.they are also determined to achieve 52% on-grid connections and 48% off-grid connections also by 2023/24. review, analyses of literature and site visits to various branch offices of Rwanda.... Read more »

Posted on : Wednesday , 10th April 2019

Penn State Startup Kijenzi Supplies Kenyan Communities With 3d Printed Medical Supplies

A humanitarian start-up called Kijenzi from Pennsylvania State University’s College of Engineering, is aiding remote healthcare facilities in Kenya with 3D printed medical supplies. Initially the vision of Kijenzi was to utilize portable, custom 3D printers to speedily produce health equipment such as braces, clamps and vacuum pumps at low costs. As this began to progress in the Kenyan community, the team concluded that.... Read more »

Posted on : Wednesday , 27th March 2019

Kenya revolutionary packaging concept looks to conquer further

Cargolite packaging concept is quickly gaining popularity in Kenya with the benefits like no crushed boxes, no damaged flowers, an increased pack rate, improved stack ability and lower transport costs. These are just some of the pros of the concept that and soon, it will also be available to growers in Ethiopia. Also, the successful delivery of one air pallet from Addis Ababa (Ethiopia) to Aalsmeer (the Netherlands) in the last.... Read more »

Posted on : Wednesday , 27th March 2019

Energias de Portugal to Fund Six Solar Projects in Africa

EDP(Energias de Portugal) are one of Europe’s biggest energy operators. Through the A2E (Access to Energy) CSR Fund, EDP will support six sustainable and clean energy projects in East Africa in Kenya, Tanzania, Mozambique and Malawi. In this first phase, EUR 450 thousand will be used to promote access to energy in remote rural areas with no electricity grid connection, with the aim of alleviating energy poverty in developing.... Read more »

Posted on : Wednesday , 3rd April 2019

African oil imports sustained by China

Uncertainty over US waivers for investors of oil from Iran is commencing to grip the market again, under very different circumstances than when American sanctions were set to go into effect in 2018. Before existing exemptions were granted, traders in Saudi Arabia were forecasting $100 oil, and Donald Trump was looking forward to a decrease in fuel rates ahead of US midterm elections. The waivers blindsided the market, which had assumed.... Read more »

Posted on : Tuesday , 26th March 2019

France's Voltalia Invests Big in Kenya

French President Emmanuel Macron, who traveled to Kenya with a business delegation, saw the signing of more than EUR 2 billion ($ 2.26 billion) in infrastructure contracts. Renewables company Voltalia signed a contract of EUR 70 million for two solar power plants, while an Airbus - led consortium has won a contract of EUR 200 million for coastal and maritime monitoring. The deals also included a EUR 1.6 billion 30-year concession for a.... Read more »

Posted on : Friday , 5th April 2019

CONSTRUCTION AND DEVELOPMENT OF HOUSING SECTOR, GROWING IN RWANDA

The construction sector in Rwanda is experiencing a huge boost due to the population growth rate of 2.7% annually. The growing demand in the construction and real estate sectors is being experienced by Rwanda on a massive scale. Every year 28 thousand and 35 thousand housing and commercial units are in demand within Kigali; struggling to meet this need are the developers. "Taking a significant chunk of the GDP the construction sector has.... Read more »

Posted on : Wednesday , 10th April 2019

MINING IN RWANDA PROGRESSES WITH US INTERVENTION

The mining sector has emerged to be the highest foreign export earner of merchandise exports in Rwanda, since it commenced in the early 1930s. According to the statistic report of 2018 the export of Cassiterite amounted to $149 million, a huge potential of gold mining and export as well as wolfram and Colombo tanlite (Colton) has emerged recently. Rwanda has largely been underlained by the Kibaran Orogeny rock system. Consisting of basement.... Read more »

Posted on : Monday , 25th March 2019

Tullow initiates a probe for Kenya Oil Investors

Tullow, a British oil exploration company has commenced an exploration in Kenya for small scaled crude petroleum exports. The first shipment is expected in the next three months. Unnamed potential investors of the Turkana commodity has shown interest in the stocks.The initial market reactions have proven to be positive. About 600 barrels are being transported per day by road to Mombasa, with volumes expected to increses to.... Read more »

Posted on : Monday , 25th March 2019

East Africa's Power Output poised to reach 7,480MW by 2022

By 2022, the East African Community (EAC) will have a combined generation of 7,480 MW of electricity. This is set to be accomplished through a $ 2.5 billion funding from the African Development Bank (AfDB) for infrastructure projects in the region. According to multiple sources, the combined total installed power capacity in East Africa currently exceeds 5,000 megawatts. Statistics from the EAC partner states with the.... Read more »

Posted on : Wednesday , 3rd April 2019

RAPID GROWTH IN KENYAN INFRASTRUCTURE AND ECONOMY

Developers who are keen on Roads, housing and civil work projects 2018 was projected to be an exciting year, moving Kenya closer to vision 2030, the government identifies affordable housing among the key golden pillars for the next five years and food security manufacturing and universal health care are some others. Did you know that civil works as well as roads are paramount for each of the four pillars? The delivery of about 500,000 housing.... Read more »

Posted on : Saturday , 23rd March 2019