Market News Page No. 151| Africa Business News

Volkswagen Set to Begin Assembly Operations in Rwanda this May

German-based automotives giants Volkswagen AG announced that the company will soon begin assembling activities at their newest plant in Rwanda in May. The vehicles assembled at this plant will be put up for sale locally and will also be used for Volkswagen’s very own new ride-sharing service. An estimated amount of $20 million is said to have been spent on this new facility in Rwanda. This facility is only a small piece of the.... Read more »

Posted on : Wednesday , 18th April 2018

Tamarind Group Opens New Hotel in Nairobi

The Tamarind Group has opened a new hotel in Kenya’s capital city Nairobi; it is estimated to be worth approximately Sh1.2 billion in an attempt to capture a growing market in Kenya that has seen stark rise in foreign tourist numbers and business-persons flocking to the nation’s capital. Martin Dunford, the group chairman provided further details about the funding of the project and said that the funds would be in the form of debt.... Read more »

Posted on : Wednesday , 18th April 2018

UAE's Rotana Group Expanding into Tanzania

Renowned UAE based hotel group, Rotana Hotel Management Corporation is preparing to venture into the hospitality markets in Tanzania with a brand new hotel located in Dar-es-Salaam. This project is highly anticipated; it is expected to be a 30 floor construction and will be located in the commercial hub of Tanzania, Dar-es-Salaam. Rotana is a market leader in the Middle East and is now turning its attention to expansion projects outside.... Read more »

Posted on : Wednesday , 18th April 2018

Kenya Slashes Power Tariffs for State-Owned Solar Farm by Half

Energy Regulatory Commission Director-General Pavel Oimeke said “Kenya cut its fixed-price purchase contract for a state-owned 50-megawatt solar plant by half because the project was financed using concessional funds” The East African nation, which has an electricity supply deficit, is boosting production from renewable sources including geothermal and wind as it cuts reliance on expensive diesel-powered.... Read more »

Posted on : Thursday , 12th April 2018

KOPA Solar Secures New Round of Funding

KOPA Solar has secured a new round of funding that will be used to extend their presence across Africa. According to ITWebAfrica, The investment amount, which is undisclosed, includes a first-ever $10 million investment from FinDev Canada. Led by U.K. government-owned investment company CDC, a previous investor in the Kenyan company which has now committed an additional $7 million, the round includes follow-on investments.... Read more »

Posted on : Wednesday , 11th April 2018

India's Trivitron Healthcare Planning for Expansion in East Africa

Trivitron Healthcare, one of India’s most promising medical technology companies has entered into a partnership with a private equity firm named Investment Funds for Health in Africa (IFHA) with a view to maximize their business efforts in East Africa. The firm has impressive portfolio and is supported by companies such as International Finance Corporation. The company will be tasked to provide medical devices, turn-key solutions,.... Read more »

Posted on : Wednesday , 18th April 2018

BUILDEXPO AFRICA 2018 - 03 - 05 May 2018 | KICC , Nairobi, Kenya

Kenyatta International Convention Center ( KICC ) is gearing up to host its largest annual event, the 21st edition of Buildexpo Africa to be held from May 3 to 5. The show catering to the construction industry is spread over the entire indoor and outdoor area of KICC with exhibitors participating from 40 countries. According to the organizers, Buildexpo has grown in several aspects in 2018. The visitor registrations are much higher.... Read more »

Posted on : Saturday , 7th April 2018

Kenya- Unilever Tea to install 600kW solar power plant

By mid-2018, the plant is expected to start producing power with Unilever to pay monthly power bills generated by Cross Boundary Energy who will finance and operate the plant for 15 years. The solar plant is the first commercial and industrial power purchase agreement for the company in Africa and is expected to deliver substantial savings on power costs and reduce its carbon emissions by over 10,000 tonnes over the plant’s.... Read more »

Posted on : Friday , 6th April 2018

Nairobi residents welcome the construction of a new and modern hospital

A resident demand has been finally met bearing fruits in the form of a mega US $9m private hospital which is set to be constructed in Nairobi’s Muthaiga North area. Located off Kiambu Road the project will comprise of a 100-bed private hospital with a fully equipped gym, a therapy pool and an aerobics centre. Investors also believe that this will improve the area’s value as an investment destination. The residents’.... Read more »

Posted on : Thursday , 5th April 2018

Kenya- New Law Will Boost Oil Exploration and Production

The law is a critical sector enabler. It provides fiscal and regulatory frameworks that govern operations and investments in the sector while setting up institutions that are responsible for making it happen. The law is also the basis for protection of the environment and stakeholder interests while providing the basis for conflict resolution. To the investors, having current and effective legal frameworks reduces the.... Read more »

Posted on : Wednesday , 4th April 2018

Cooking-Gas Plants worth $125 Million Planned By Kenya Pipeline

Managing Director Joe Sang of Kenya Pipeline Co said that the company has plans to build facilities worth $125 million to handle and store liquefied-petroleum-gas with a view to boosting cooking-gas use in the rapidly urbanizing nation. The government in East Africa’s biggest economy has scrapped value-added tax on cooking gas and has subsidized the cost of 6-kilogram cylinders in a bid to make the fuel more attractive and.... Read more »

Posted on : Wednesday , 4th April 2018

Michelin's New Joint Venture Targets Kenyan Market

Michelin Tyres have partnered with CFAO, a renowned distributor of industrial products to further their interests in Africa. This joint venture will oversee the import and distribution of high-quality tyres in Kenya and Uganda. Michelin holds a 49 percent share in the new company with the remaining 51 percent in the possession of CFAO, while administration of the entity will be divided equally. The company will now begin.... Read more »

Posted on : Wednesday , 18th April 2018