Market News Page No. 127| Africa Business News

Ethiopian Longest Bridge Project Bagged by CCCC

Ethiopia has signed an agreement with a Chinese firm, China Communication Construction Company (CCCC) to design and build the country’s longest bridge. The Company secured the deal by placing an offer, which was 15.3% higher than the engineers’ estimate. Three companies were disqualified at the technical stage, leaving CCCC as the sole bidder whose financial offer was opened on February, 2019. Construction of bridge will be.... Read more »

Posted on : Monday , 29th April 2019

Russian Agricultural Machinery Convoy To Expand In Africa

Agricultural machinery produced by Rostselmash SC are planned to be supplied to Mozambique and East Africa, according to the agency of economic information Prime, with reference to the Director for export sales of the company, Maxim Maximov. We are talking about the implementation of a government project that provides for the export of 70 pieces of equipment to this East African country. As east africa is one of the growing countries exporting.... Read more »

Posted on : Monday , 29th April 2019

CONSTRUCTION OF OUTER RING-THIKA HIGHWAY EXCHANGE IN KENYA COMMENCES

The Kenya Urban Roads Authority (KURA) has started construction of a advanced flyover exchange connecting the Outer Ring Road and Thika Super Highway in Kenya, in a bid to comfort traffic congestion as a result of high population frequency in the Eastern Nairobi. The cooperation has therefore declared a 3 month closure of the overpass at GSU headquarters to make sure that the construction works are not disrupted by vehicles. It is an.... Read more »

Posted on : Monday , 29th April 2019

Tanzania inaugurated its first in East Africa, international gold trading centre

Tanzania inaugurated an international gold trading centre which is the first in East Africa. The centre is specially to encourage mineral trade, discourage smuggling of minerals, and make sure that businesses pay their levies to the government. The trading centre is located in the gold-rich region of Geita that produces over 40 percent of the gold exported from the country. Simon Msanjila, Permanent Secretary in the Ministry of.... Read more »

Posted on : Monday , 29th April 2019

KENYA LOOKS TO BOOST ITS AGRICULTURAL SECTOR IN LINE WITH VISION 2030

Agriculture is the key to Kenya's economy, contributing 26 per cent of the Gross Domestic Product (GDP) and another 27 per cent of (GDP) indirectly through linkages with other sectors. The sector employs more than 40 per cent of the total population and more than 70 per cent of Kenya's rural people. In the rural economy the agricultural sector continues to play a vital role. While, agriculture in Kenya is large and complex, with a multitude of.... Read more »

Posted on : Friday , 26th April 2019

KENYA'S NATIONAL GOVERNMENT SOLAR POWER PROJECT KICKS OFF

Kicking off an ambitious project, the national government of Kenya working hard to provide solar energy and cash transfers to over a million Kenyans in 47 counties. This ‘project is funded by the Swedish government and is as dubbed Mwangaza Mashinani’ program, the sole aim of which is to ensure that most vulnerable people in the country are not left behind as homes are connected to solar power. To begin with, the mega project .... Read more »

Posted on : Friday , 26th April 2019

CHINA TO INVEST $1.8 BILLION IN ETHIOPIA'S POWER PROJECTS

China is all set to pump out a gigantic USD 1.8 billion in the transmission and distribution lines of electricity in Ethiopia. The investment of USD 1.8 billion will be made by the Chinese State Grid Corporation. Ethiopia's prime minister, Abiy Ahmed met with the officials of China Export and Credit Insurance Corporation, commonly known as Sinosure, during a recent visit to China's capital, Beijing. Sinosure's top officials promised.... Read more »

Posted on : Friday , 26th April 2019

Kenyan Government turns focus toward ramping up oil and gas production

The opportunities lying in the oil and gas sector want to be utilized notes the Ministry of Petroleum and Mining, as Kenya looks to commercialize production of petroleum in 2021 with export already planned and scheduled for the year 2023. While only 10,000 square kilometers of its 85,000 square kilometers of oil and gas basin has been explored .i.e. only 12 % found in the country has been revealed by the Kenyan government. If the reserves.... Read more »

Posted on : Thursday , 25th April 2019

LUMEGA KENYA LED AND OFF GRID LIGHTING UP AFRICA WITH NEW PROJECTS AND SCHEMES

LEDs are on the rise in Kenya, and Lumega have been fortunate enough to be taken into account as being both an indoor and outdoor supplier to exciting projects in the great country. Lumega is an architectural lighting company, delivering our services to professional companies and hereby making the process of choosing LED lighting easier. Having the knowledge that for professional companies like contractors and architects, finding the right LED.... Read more »

Posted on : Wednesday , 1st May 2019

Dangote Refinery, Nigeria to Stabilize World Oil Production - OPEC

OPEC is confident that the Dangote Oil Refinery will be serving to drive world crude oil refining capacity raise especially in Africa by 2020. In the current edition of its World Oil Outlook (WOO), the Organisation said that the Dangote refinery, which is the first privately owned and functioned refinery in Nigeria, will refine 6,50,000 crude oil barrels per day at installed capacity. Currently, total world oil production in 2019.... Read more »

Posted on : Thursday , 25th April 2019

GOVERNMENT POLICY IS FURTHER EXPECTED TO STIMULATE THE EAST AFRICA FLAT GLASS INDUSTRY GROWTH

Favorable government & trade regulations accompanied by rising investments in infrastructure development, and rising population are the factors likely to accelerate construction growth majorly in Kenya, Ethiopia, Mozambique, Rwanda and Tanzania. The East Africa flat glass market growth is majorly driven by increasing development in the building & construction sector. Because of tremendous increase in population East Africa flat glass.... Read more »

Posted on : Wednesday , 24th April 2019

Japanese Solar Giants Mitsui lines up expansion plans into Kenya's Solar Mini-Grid Market

Japan's solar industry leaders Mitsui & Co had signed an agreement into acquiring a stake in Nairobi based M-KOPA, developer of Solar Home Systems (SHS) last year and is now seeking the link to grow into solar-powered mini-grids, according to local managers. M-KOPA mounts solar panels on the rooftops of residential homes and small businesses, creating SHS capable of operating lights, mobile phone chargers, and household appliances.... Read more »

Posted on : Wednesday , 24th April 2019