Market News Page No. 158| Africa Business News

Kenya- Nairobi County to Build Centralized Oil Tankers Parking

The Nairobi County government is committed to constructing a centralized tanker parking and marshaling yard in the city, aimed at ensuring safety in handling of petroleum products. This is under the Legal Notice No.9 of 2011, which gazettes the aforementioned area as a Protected Area. The county government will bring the Kenya Railway on board, to cede ground for land in the vicinity of the construction of the project.... Read more »

Posted on : Friday , 24th November 2017

Tanzania Reach Gas Deal With Dangote

Dangote cement and Tanzania have come to an agreement on the supply of natural gas to the firm’s manufacturing plant in Tanzania after negotiations stalled over prices. The 500 million dollars cement factory which is located in Mtwara was set up last year with an annual capacity of three million tonnes, runs on expensive diesel-generators and has sought government-support to reduce costs. The plant was shut down.... Read more »

Posted on : Thursday , 23rd November 2017

Kenya- Cheaper Night Power Tariff To Be Introduced In December

Next month Kenya will cut tariffs for power by up to a third for manufacturers and large businesses that shift their operations to late night hours. The Energy Regulatory Commission (ERC) said on December 1 discounted tariffs will be offered for industrial and commercial power users who operate from 11 pm to 5 am, a window within which demand is low. The energy charge billed by Kenya Power for commercial consumers metered.... Read more »

Posted on : Thursday , 23rd November 2017

Solar Startups Bring Light To Remote Kenyan Villages

Some 1.3 billion people around the globe don’t have access to an electric grid. But solar startup companies say harnessing an abundant resource -- the sun -- can light up some of the world’s most remote areas. In this Kenyan village, rooftop panels are becoming a cheap and promising source of light. A young fellow from a small village in Kenya, Mulili used to pay about a $1.50 a day for kerosene, a fuel still.... Read more »

Posted on : Thursday , 23rd November 2017

Kenya beginning construction of the largest dam in East Africa

Kenya is on it's way to construct the the largest dam in East Africa. Thwake dam will be constructed in the Eastern part of the country. On 15th Nov 2017, the government signed a Ksh.36.9 billion contract with Chinese contractor China Gezhouba Construction Group Corporation, paving way for work to start. As a part of the Vision 2030 initiative, this project is jointly funded by the Kenyan government and the African Development Bank and will.... Read more »

Posted on : Wednesday , 29th November 2017

Mobius Motors to launch a new Robust SUV in the African market

The Kenyan car manufacturer, Mobius Motors, is looking to present an affordable but powerful and classy SUV for the African market. The Mobius II is set to be on the road by next year. Orders are being accepted by the company. This model is aiming to be an upgrade of the inaugural car released in 2014. Will it pave the way for a new homegrown car industry? Mobius Motors was founded in 2009 by British entrepreneur Joel.... Read more »

Posted on : Monday , 20th November 2017

Exploration a priority for building Kenyan mining sector, the results are rewarding

World Bank ranked Kenya among the top 3 most improved economy in terms of ease of doing business in 2016, however in the same year according to Fraser Institute global survey report the country also improved 16 places in terms of being a global mining destination “Kenya is the gateway connecting east and central Africa, we offer cost effective and reliable power, world-class infrastructure (railways,.... Read more »

Posted on : Friday , 23rd February 2018

Jobs growth in Kwale County as Kenya�s largest mining project powers strong

The socio-economic status of residents in Kwale has transformed in less than five years since Kenya’s largest mining project was initiated, says the Vision 2030 Delivery Board. The Kwale Project-run by Base Titanium Limited of Australia has so far created a total of 3,400 jobs. Out of 3400 jobs 96% of the jobs are held Kenyan locals. And for every direct job created at the mine, 4.3 jobs are getting supported in the wider.... Read more »

Posted on : Friday , 17th November 2017

BAGAMOYO PROJECT - Comprehensive project proposal has been accepted

China Merchants Port comprehensive project proposal has been agreed and accepted by the Tanzanian government which has now officially submitted its letter of approval for the Bagamoyo Special Economic Zone venture. According to Tanzanian Ambassador to China Mr Mbelwa Kairuki, the letter was submitted to the China Merchants Port Managing Director, Bai Jingtao, on the 10th of November, 2017. “With the approval by the Cabinet.... Read more »

Posted on : Friday , 17th November 2017

Kenya-Tanzania, transnational highway project set to start in 2018

With the African Development Bank (AfDB) looking for financial partners capable of investing US $385.2m towards the construction of the highway connecting Kenya and Tanzania, construction work on the US $751.3m Kenya-Tanzania Highway is set to begin in 2018. According to AfDB Chief Regional Program Officer, Lawson Zankli, US $289m has already been set aside for the construction of the long awaited Malindi-Bagamoyo highway and the.... Read more »

Posted on : Friday , 17th November 2017

New US $30m Office Complex For Road Authorities In Kenya

The Kenya government in partnership with the World Bank is funding the construction of a mega project which is being developed by Chinese firm-Aviation Industry Corporation of China (AVIC). The US $30m road authorities office complex in Nairobi, Kenya is currently 40% complete is expected to be ready for occupation in late 2018. KeNHA director-general Peter Munindia confirmed the reports and said that the project is set to.... Read more »

Posted on : Friday , 17th November 2017

State of the art expressway to be constructed in Kenya, Investment of US$2.9bn

Kenya is planning on constructing a brand new road connecting Mombasa and Nairobi instead of expanding the existing highway. Scrapping the plan to upgrade the current road into an expressway, the government has decided to construct a brand new six-lane expressway that will run alongside the existing road. In three years, traveling from Mombasa to Nairobi will have at least four major connections. The Train (Standard Gauge Railway (SGR)), which.... Read more »

Posted on : Tuesday , 5th December 2017