Market News Page No. 14| Africa Business News

Tanzania: The Ministry of Construction's 1.77 Trillion Shilling Budget Gets Unanimous Approval

The Parliament unanimously supported the Ministry of Construction's budget of 1.77 trillion shillings for 100 percent, which will be utilized for completing nine high-priority projects such as road building, bridges, crossings, scales, and the completion of large airports. On May 29, 2024, the Minister of Construction, Innocent Bashungwa, submitted the budget estimate for the year 2024/25, including Sh 81.4 billion for routine use and Sh.... Read more »

Posted on : Thursday , 12th September 2024

Over The Next Five Years, Coca-Cola Plans To Invest Up To $175 Million In Kenya

The Coca-Cola Company and its authorized bottler Coca-Cola Beverages Africa make up the Coca-Cola system in Kenya, and they have announced a new $175 million investment. Over the next five years, the system plans to invest up to $175 million in Kenya; the exact amount will depend on whether the company meets its projected growth targets in the nation. Over the course of more than 75 years, the Coca-Cola system has been an.... Read more »

Posted on : Monday , 3rd June 2024

Heavy Rains in April Led To an Increase Of 23 Percent in Hydropower Production

The country experienced heavy rains in April, which led to a 23.2% rise in the generation of hydropower one of the most affordable forms of electricity. The Energy and Petroleum Regulatory Authority (Epra) reported that 358 million kilowatt-hours (kWh) were produced by the 13 largest hydropower units in the month. This was the biggest output in over three years since a peak of 369.02 million units in May 2021, and a notable increase from.... Read more »

Posted on : Friday , 31st May 2024

Seven Forks Solar Project to Be Built By KenGen

Approved to establish a 42.5 MW solar facility at the Seven Forks Hydro Stations in Eastern Kenya, KenGen is looking to increase its generating capacity. The business anticipates that the solar photovoltaic (PV) plant will increase revenue diversity and optimize space for value addition around its current hydropower projects. It will be erected on an 80-hectare KenGen-owned plot of undeveloped land. The company claims that the.... Read more »

Posted on : Thursday , 30th May 2024

National Grid Is Now Powered By 30 MW of Small Power Producers

According to The Rural Energy Agency (REA), the nation's small-scale power producers and developers have generated and added more than 30 megawatts to the national grid. Advera Mwijage, the Director of REA for Renewable Energy Technologies, made this revelation in Dar es Salaam during a conference aimed at advising small-scale power producers of renewable energy projects on how to submit applications for funding to support project.... Read more »

Posted on : Thursday , 30th May 2024

Over The Period 2018-2022, Electricity Production Increased From 2351MW to 3312MW

According to Davis Chirchir, cabinet secretary for energy and petroleum, the amount of electricity produced went from 2,351 MW to 3,312 MW. At the same time, the number of customers connected to the electricity increased from 6.78 million to 9.21 million, meaning that both on- and off-grid connectivity rates increased by 75%. According to the CS, 415,032 barrels of crude oil were produced, transported by truck, and delivered to the.... Read more »

Posted on : Thursday , 23rd May 2024

Kenya Is Recognized As A Leader In Africa's Digital Transformation By Commerce Secretary Raimondo

President's Advisory Council on Doing Business in Africa (PAC-DBIA) members were recently led by U.S. Secretary of Commerce Gina Raimondo to Nairobi, where she announced a number of business agreements with American companies as well as a historic partnership with Kenya to support digital upskilling, enable data flows and utilise artificial intelligence. The agreement, which is the first of its type with an African country, expands on the United.... Read more »

Posted on : Friday , 17th May 2024

The LAAF Project to Provide 200 Solar Power Kits to Three Schools On Lamu Island

200 solar power kits from the Lighting an African Family (LAAF) project will be presented to three schools in Lamu County. Donations of solar panels, batteries and lights will support education without the constraints of erratic electrical supplies. The solar power kits were given to the Manda Manewi Secondary School and the Manda Airport Primary and Secondary Schools on Lamu Island as part of a project started by Bluetti, a.... Read more »

Posted on : Friday , 17th May 2024

Tanzania approves industry-wide occupational norms for expansion.

In order to validate occupational standards in crucial sectors for the expansion of the industrial economy, more than 100 experts and delegates from Tanzanian government institutions, technical and vocational education and training (TVET) institutions, and industry representatives started a two-day meeting in the Morogoro Region, eastern Tanzania, on Thursday. The National Council for Technical and Vocational Education and Training.... Read more »

Posted on : Monday , 13th May 2024

Strategic Investment From Private Equity Fund Ascent Secured By Dune Packaging.

East African packaging solutions company Dune Packaging Ltd. has announced a collaboration with Ascent Rift Valley Fund II ("Ascent"), the region's SME-focused private equity fund. Ascent wants to help Dune Packaging innovate, grow into new markets and strengthen its environmental, social and governance (ESG) credentials as part of the deal. CEO of Dune Packaging Rohin Chandaria said he was excited about the relationship: "We are happy.... Read more »

Posted on : Wednesday , 8th May 2024

To Increase The Availability Of Clean Cookstoves In Africa, BURN Manufacturing Has Raised $12 Million.

Kenya-based BURN Manufacturing, a well-known manufacturer of clean cookstoves, has received more than $12 million in capital, primarily to expand the reach of its clean cooking products across the African continent. This grant is the outcome of Key Carbon Ltd.'s successful follow-on carbon project investment programme. Key Carbon Ltd., formerly known as CNR "Carbon Neutral Royalty," is now spearheading the effort to fund BURN's.... Read more »

Posted on : Wednesday , 8th May 2024

Dodoma Welcomes A New Participant In The Wine Industry

The country's Centre for grape producing, the Dodoma regions, has seen a growth in the number of wine processing firms opening up shop. This trend has given grape producers hope. Due to an absence of a guaranteed market for their produce, most grapes in the vines rotted in recent years, which worsened financial losses for the grape growers. In order to do this, the government has been working to provide favorable conditions and.... Read more »

Posted on : Wednesday , 8th May 2024