Market News Page No. 153| Africa Business News

Simret, a high-grade silver discovered in East Africa

Altus Strategies a UK-based mining company, announced the revelation of what the company calls “the Simret silver prospect” at its 100%-owned Daro project, located in the Tigray Regional State in East Africa. In a media statement, the project generator MNC said that Simret showed silver grades that include 944 g/t Ag and 540 g/t Ag, which were taken from rock chip sampling of quartz veins. Lead and gold were also present with grades.... Read more »

Posted on : Tuesday , 11th December 2018

Rwanda Signs Nuclear Agreement with Russia

Rwanda minister of infrastructure Claver Gatete, and ROSATOM's director general, Aleksey Likhachev, signed a co-operation agreement aimed at the construction of a Center for Nuclear Science and Technology (CNST) and of a Nuclear Power Plant in Rwanda in the field of peaceful uses of atomic energy. The cooperation agreement will set a foundation for active conversation between the two Nations in the field of peaceful implementation of atomic.... Read more »

Posted on : Friday , 7th December 2018

Kenya govt. to construct 28 km connecting highway at the JKIA

A 28 Km highway bridge is decided to be constructed by the Kenyan government, which will connect Jomo Kenyatta International Airport (JKIA) with Kangemi market on the Nairobi-Nakuru highway in order to control traffic congestion in the Kenyan capital city. James Macharia the transport Secretary confirmed the reports saying that engineers have been deployed at the airport to assess the ground for the construction and help inform the final design.... Read more »

Posted on : Thursday , 6th December 2018

Regional and Continental Integration for Africa’s Development

At the African Economic Conference (AEC) in Kigali where more than 700 participants including policymakers, academics, development partners and financiers from across Africa and beyond were present in order to discuss ways to accelerate progress in infrastructure integration,that is including the removal of barriers for movement of people goods and services across borders within Africa. This African economies were called by the experts.... Read more »

Posted on : Wednesday , 5th December 2018

US $2bn integrated community development project to be constructed in Ethiopia

US $2bn has been set aside for integrated community development project in Ethiopia's capital, Addis Ababa which will entail 4,000 apartment houses, recreation centers and three star hotels. During the launch of the project, the country’s Prime Minister, Abiy Ahmed said that according to the master plan, 1,600 households current dwelling will be demolished and later on absorbed in the proposed apartments. Integrated community.... Read more »

Posted on : Friday , 30th November 2018

EIB to support four new projects in Kenya and EA

Four new projects in Kenya and EA will get a great support from "The European Investment Bank (EIB)" through the loan that worth US$78mn. This will help Kenya and East African region to gain wider support to its companies. The companies that will benefit includes telkom Kenya, the BCS Group, the Medical Credit Fund and Novastar II. It has also been reported that, in order to reduce the risk of currency that has liability to.... Read more »

Posted on : Tuesday , 27th November 2018

Tanzania to come up with HydroPower plant

It has been announced that the hydropower plant preparations at Stiegler's Gorge in Tanzania are underway. This hydropower plant preparations are proposed for 2,100MW Rufiji hydropower plant. This preparations will benefit the country as the project will have a gross output of 5,920GWh and also it is expected that the project will double the country's power generation capacity. This project is nearly of $307 million. Mr. Medard.... Read more »

Posted on : Tuesday , 27th November 2018

Tea Export Increased by 13% from East Africa to the rest of the World

Tea export volumes from East Africa to the rest of the world have risen by 1.4 million kilograms, representing a 13% increase from the comparable previous year, data from the East African Tea Export Auction reveals. A latest auction report has shown that a total of 10.4 million kilogramme bags of tea were exported, more than the 9 million kilogramme bags exported around the same time the previous year. This is according to records from the.... Read more »

Posted on : Tuesday , 27th November 2018

Investment and Infrastructure development in EA OIL & GAS

The Head of East Africa oil & gas sector at Standard Bank, Mr. Maina Kigundu, said that "Foreign exchange burden of importing and distributing the refined oil and gas products will maintain balance of payment challenges while liberating much needed foreign exchange for more strategic human development." He also mentioned that there is an increase in foreign exchange that is required to meet the regions expanding need for oil and.... Read more »

Posted on : Saturday , 24th November 2018

Scania East Africa Launches New Truck Range

Scania East Africa has launched its new truck generation becoming the second market in Africa to roll out the new truck range. The new models have been launched in phases across the globe since August 2016 revealing results of ten years of development work, billions of dollars of investments and more than 10 million kilometres of test driving. Scania is extending its offering by customising trucks for each type of customer in the highly.... Read more »

Posted on : Thursday , 15th November 2018

Uber Sees Opportunity for Minibus Service in Nairobi

Uber Technologies may roll out a new service in Kenya to help user’s book seats on minibuses that ply the streets of the congested capital, if tests on the product in Egypt and Mexico prove successful, a company executive said on Wednesday. Uber estimates that more than a third of Kenyans in Nairobi use the often crowded minibuses, known as matatus, as their main form of transport around the city, Uber’s East Africa General Manager.... Read more »

Posted on : Thursday , 15th November 2018

3.2 million residents from kenya to get free health care services

3.2 million kenyans to get free health care coverage, 3.2 million residents are from four different countries, namely, Isiolo, Machakos, Kisumu and Nyeri. These countries are expected to receive a range of free medical services starting December as a part of Pilot Programme. These four countries will also get free services when they refer to National referral facilities during the year-log (UHC) Universal Health Coverage Pilot.... Read more »

Posted on : Thursday , 15th November 2018