Market News Page No. 13| Africa Business News

Tanzania Secures $523 Million Gold Mine Investment from Perseus Mining Limited

Perseus Mining officially began work on its Nyanzaga gold project in Tanzania in June. The announcement was made via the company's official Twitter account. The launch follows the final investment decision (FID) taken in April and represents a new chapter in the development of this $523 million project, which was acquired through OreCorp's 2024 purchase. According to Perseus, early-stage construction activities are now ongoing. These include the.... Read more »

Posted on : Tuesday , 1st July 2025

Kenya: Siaya Secures Multi-Billion Shilling Infrastructure Deal in Orengo-Ruto Partnership

Siaya County is set to see significant infrastructure development thanks to a new partnership between Governor James Orengo and President William Ruto. This collaboration was forged at a pivotal State House meeting that included delegates from all six of Siaya's constituencies. The focus is on boosting the county's economy through various projects. The national government is committing significant funds to boost Siaya's infrastructure. This.... Read more »

Posted on : Tuesday , 1st July 2025

The CLASP-GEAPP Initiative, worth $6.1 million, aims to install 10,000 solar appliances and generate green jobs in Ethiopia, Kenya, and Nigeria

The Global Energy Alliance for People and Planet (GEAPP) and the international NGO CLASP are launching a new $6.1 million project aimed at accelerating energy-driven growth in Ethiopia, Kenya, and Nigeria. Through the expanded Productive Use Financing Facility (PUFF), the initiative aims to enhance the access of low-income households and small businesses access to reasonably priced, revenue-generating appliances.Up to 10,000 energy-efficient.... Read more »

Posted on : Monday , 30th June 2025

Launching in Tanzania, SPIRO Advancing Sustainable Urban Transportation

With the official commencement of operations in Tanzania, Spiro, Africa's top EV mobility provider, is providing environmentally friendly electric two-wheelers to tackle urban transportation issues and lower carbon emissions. As it continues to scale mobility solutions in rapidly expanding regions, this launch is a component of the company's larger expansion strategy throughout Africa. Spiro intends to build or collaborate on.... Read more »

Posted on : Monday , 16th June 2025

Tanzania's Booming Healthcare Market Awaits Exporters!

Unlock Growth in the Heart of East Africa: Tanzania's Booming Healthcare Market Awaits Exporters! Are you seeking a dynamic and rapidly expanding market for your medical and healthcare products and equipment? Look no further than Tanzania, a nation poised for significant growth in its healthcare sector, presenting unparalleled opportunities for international exporters like you. With a burgeoning population of over 60 million and a.... Read more »

Posted on : Thursday , 12th June 2025

NHIF's New Lindi Office Set to Boost Healthcare Access as Completion Nears

The Lindi Region's National Health Insurance Fund (NHIF) has started building a new regional office, which is currently 94% finished, to make it simpler for people to receive healthcare services. NHIF Regional Manager Irine Katarahiya stated in a statement, that the office, which will cost Sh 401 million in total, is being built in Rasibura Ward, Lindi Municipality. Katarahiya claims that the office wants to increase the welfare of.... Read more »

Posted on : Wednesday , 4th June 2025

Medical Tourism in Tanzania on the Rise Due to Healthcare Investments

According to a cabinet minister, Tanzania is seeing a notable increase in medical tourism as a result of large government expenditures on healthcare services. Over the last four years, the number of international patients seeking treatment in Tanzania has more than doubled, according to Minister of Health Jenista Mhagama, who spoke to parliament in the capital, Dodoma. The number of foreign patients increased from 5,705 to 12,180.... Read more »

Posted on : Wednesday , 4th June 2025

Tanzania Moves Towards Steel Import Ban as Local Production Surges.

Tanzania is preparing to halt steel imports due to a sharp increase in local manufacturing output, signaling a major step forward in the country’s industrialization agenda.During a visit to Lodhia Industries in Mkuranga District, Coast Region, Prof. Kitila Mkumbo—Minister in the President's Office for Planning and Investment—praised the nation's progress, describing the expansion of domestic steel production as transformative. He noted.... Read more »

Posted on : Thursday , 5th June 2025

The State Funds Water Projects in ASALs with Sh 300 Million in Kenya

At a cost of Sh 300 million, the government is putting about 31 water projects into 23 Arid and Semi-Arid (ASAL) counties. The projects were being carried out in the counties most affected by the drought, such as Marsabit, Turkana, Mandera, Wajir, West Pokot, Baringo, and Tana River. Referred to as key initiatives, the PS stated that they were being carried out in accordance with the Bottom-up Economic Transformation Agenda with the.... Read more »

Posted on : Tuesday , 3rd June 2025

Kenya Power Endorses Street Lighting Levy Proposal to Boost Infrastructure

Kenya Power and Lighting Company (KPLC) has expressed support for a proposal to introduce a special levy aimed at funding street lighting projects across the country. The proposed Street Lighting Infrastructural Support Levy (SLISL) would be charged to electricity consumers and is expected to enhance lighting infrastructure in all 47 counties. The utility firm believes the move could significantly improve public safety and support.... Read more »

Posted on : Monday , 2nd June 2025

Surge in Demand for Woodworking Equipment in Tanzania's Expanding Furniture Sector

Tanzania's woodworking industry is experiencing a significant transformation, driven by a growing middle class and increasing demand for quality furniture. The furniture market in the country is expected to reach $606 million in revenue by 2025, with an anticipated annual growth rate of 1.37% from 2025 to 2029 . This expansion is fueling a surge in demand for modern woodworking equipment to meet both domestic and regional needs. The.... Read more »

Posted on : Monday , 2nd June 2025

AfDB Commits $2.5 Billion to Boost Tanzania's Infrastructure Development

The African Development Bank (AfDB) has committed US$2.5 billion to fund critical infrastructure projects in Tanzania, with over 70% allocated to transport-related developments such as roads, railways, and airports. According to Eng. Mumina Wa-Kyendo, Chief Transport Engineer at the AfDB Tanzania Office, the funding targets priority upgrades that will improve regional connectivity and logistics. Among the key projects is the Tanzanian.... Read more »

Posted on : Monday , 2nd June 2025