Market News Page No. 139| Africa Business News

Kenya set aside funds to help local start-ups in the mobile industry

Kenya minister of information, communication and technology said that the government had set aside $10 million to help local start-ups in the mobile telephone software and hardware segments to grow. The country’s imports of 50 million telephone handsets every two years, Which is challenging local firms to start making them locally. Kenya has almost 45.5 million mobile phone subscribers who use a range of imported mobile.... Read more »

Posted on : Wednesday , 14th November 2018

Kenya Signs Agreement to Boost Agricultural Exports to China

Kenya and China signed an agreement allowing the East African country to export various agricultural products to China. Nzioka Waita, President Uhuru Kenyatta’s Chief of Staff, said the agreement on food, plant and animal safety - known as sanitary and phytosanitary measures - had been reached between the two after a week of negotiations. Waita said on Twitter the agreement would pave the way for Kenya to start exporting a selection of.... Read more »

Posted on : Tuesday , 13th November 2018

East African focused fund manager, Catalyst Principal Partners, announces the close of its second fund, achieving $155 Million

In 2009, the Catalyst Fund raised to $125 million which it invested in 9 companies in Kenya, Tanzania and Ethiopia with diverse interests in manufacturing of consumer goods, pharmaceuticals, industrial agro-processing, logistics and engineering as well as healthcare, technology and financial services. Whereas, this year the Catalyst Fund II raises US$155 million successor fund for investment in East Africa. The fund will focus on.... Read more »

Posted on : Monday , 26th November 2018

KENYA: East Africa's first solar airport will open in 2019

Moi International Airport in Mombasa will be the first solar-powered airport in East Africa. That is the purpose of the contract that Solarcentury has just won for the installation of a photovoltaic power plant at Kenya's second airport. The work to be completed within 10 months is part of the "Capacity Building for Reducing CO2 Emissions from International Aviation" programme implemented by the International Civil Aviation.... Read more »

Posted on : Friday , 9th November 2018

EXIM Bank Tanzania Pledged To Support Cashew Farmers

A section of cashew Nut farmers in Tanzania are set to receive a boost following a move by Exim Bank to support them with TZS 200 million ($87,334 dollars).The farmers from Mtwara will benefit from the investment which aims at bolstering the industry productivity during 2018 season.According to a statement from Exim Bank, cashewnut industry in Tanzania recently has seen a significant growth in production and sale prices which is a.... Read more »

Posted on : Thursday , 8th November 2018

Federal Agency Signs MOU to Construct 25 Silos for Wheat and Teff Value Chain

The Federal Cooperative Agency has signed a Memorandum of Understanding with the heads of regional cooperatives to construct 25 silos to be used by agricultural cooperative unions involved in teff and wheat value chain in four regional states. The bid aims to alleviate the shortage of warehouses and help cooperative unions with a reliable and effective market outlet. The silos will be constructed by 12 contractors under the Alliance for.... Read more »

Posted on : Thursday , 8th November 2018

Africa's largest International Mining Technology Trade show is back in Tanzania

Africa’s largest International Mining Technology Trade show is back in Dar es Salaam, Tanzania from 1st – 3rd November, 2018. Hon'ble William Vangimembe Lukuvi, Minister for Lands, Housing and Human Settlement Development will inaugurate the 4th Minexpo 2018 on the 1st of November 2018. The event is one of the leading mining trade shows, showcasing the widest range of innovative technology in mining and processing of.... Read more »

Posted on : Thursday , 1st November 2018

Hon'ble William Vangimembe Lukuvi, Minister for Lands, Housing and Human Settlement Development to inaugurate the 21st Buildexpo 2018 today

Hon'ble William Vangimembe Lukuvi, Minister for Lands, Housing and Human Settlement Development will inaugurate the 21st Buildexpo 2018 on the 1st of November 2018. The biggest brand of construction events in Africa, BUILDEXPO is featuring exhibitors from more than 30 countries. Reputed to be largest event in East Africa of its kind, the show dedicated to the building and construction industry will be held from 01st to 03rd November, 2018.... Read more »

Posted on : Thursday , 1st November 2018

Macro investments to boost trade in East Africa

Recent economic research and forecasts have found that investments in East African infrastructure construction are set to expand rapidly. Total infrastructure construction output in the region’s largest markets of Rwanda, Ethiopia, Kenya, and Tanzania, is expected to grow from USD 25.9 billion in 2017, to USD 98.8 billion in 2022. At present there are about 287 large scale public and private sector infrastructure projects in East Africa..... Read more »

Posted on : Thursday , 25th October 2018

Affordable Mobile Healthcare Solution Introduced In Tanzania

Tanzanian businesswoman Lilian Makoi has introduced an affordable mobile healthcare solution christened Jamii Africa in Tanzania. Although she has co-founded a number of startups, Jamii Africa happens to be her biggest and most positive business venture. According to Lilian Makoi, she started Jamii Africa after losing someone in her family from a treatable medical emergency. The main reason for the loss, she said was their inability to.... Read more »

Posted on : Tuesday , 16th October 2018

Tanzania- 150 MW Solar Tender Launched

Tanesco has issued a request for approval for the construction of several large-scale PV projects with a combined capacity of 150 MW. Through this tender, Tanesco aims to procure power generation from plants in the regions of Dodoma, Shinyanga, Singida, Mwanza, Simiyu and Iringa over the next two years. The projects will be between 20 MW and 50 MW in size, and developers will have to undertake feasibility studies and finance,.... Read more »

Posted on : Monday , 15th October 2018

Tanzania Uganda mega project to drives growth

The construction of the 1,403-kilometre pipeline to transport crude oil from Hoima in Uganda to Tanga Port in Tanzania is expected to be completed by June 2020. Tanzania’s President John Pombe Magufuli wants investors, the governments of Uganda and Tanzania to expedite the construction of the East African Crude Oil Pipeline (EACOP). The President said that the pipeline should be constructed in the shortest time possible instead of.... Read more »

Posted on : Friday , 12th October 2018