Market News Page No. 164| Africa Business News

New Distribution Deal Signed Between Subaru and Kingsway

This new agreement will provide genuine parts and services to all things Subaru at all outlets of Kingsway Tyres Services Centres in the major cities of Nairobi, Mombasa, Thika and Kericho. The agreement will see Kingsway Tyres Service Centres sell and stock original Subaru parts and provide warranties as per Subaru’s Global terms and conditions. Kingsway will also be expected to provide vehicle servicing on behalf of Subaru.... Read more »

Posted on : Friday , 6th October 2017

Kiambu Mall To Open Shop this December

The Kiambu Mall project in Kenya is in its final phases of constructions and will soon be open to the public. It was orignally scheduled to open in August but the date was later moved to December afetr a few setbacks during construction. Mugaa Investment Developers Chairman, Peter Burugu blamed the delay of material shipment and the political ambigiuity for the delay. However, construction work is now in full swing and the.... Read more »

Posted on : Friday , 6th October 2017

Keitt Exporters Diversify Into Oil Market

Keitt Exporters is looking at potential opportunities in added value avocado products, in an attempt to reduce risk and the recent trade restrictions in China and Taiwan. Grace Thuita, Sales and marketing manager said that the companies are also exploring machinery and processes with regard to the making of avocado oil, in order to make the most of the product. The company hopes that this diversification process.... Read more »

Posted on : Thursday , 5th October 2017

Second Phase of the Standard Gauge Railway Construction Underway

Construction of the second phase of the standard gauge railway (SGR) is set to get underway soon. The project will connect the capital city of Dodoma and the commercial hub of Dar-es-Salaam. While speaking at the Eight East and Central Africa Roads and Rail Infrastructure Summit in Dar-es-Salaam, Prof Makame Mbarawa who is the Minister o9f Works, Transport and Communications confirmed that construction will begin as soon as next.... Read more »

Posted on : Wednesday , 4th October 2017

Rwanda's Renewable Energy Program Well Funded

A $48.9 million agreement was signed for a plan to upgrade Energy Renewable Programs, so as to assist the government of Rwanda to garner finances from the private sector. The main objective of the program is to provide access to power through non-grid solar panels. The agreement was signed by Claver Gatete, the Minister of Finance and Economic Planning and Yaseer El Ghammal, the World Bank Country Manager for Rwanda. With.... Read more »

Posted on : Wednesday , 4th October 2017

Kenya Remains Uber's Second Largest Market in Africa

There are 363,000 active Uber users in Kenya according to the newest statistics released by the company to mark its fourth year on the African continent. South Africa is supposedly, Uber’s main market in Africa with an estimated 969,000 active users, while Kenya remains a distant second. The data also revealed that there are 5,000 drivers in Kenya and 12,000 in South Africa, currently on Uber’s.... Read more »

Posted on : Wednesday , 4th October 2017

Highest Suspended Restaurant to be part of Kenya's High Rise

Nairobi, Kenya is rapidly becoming a hub for stunning feats of architecture and design. Nairobi now boasts a number of ultra-modern buildings; this trend is expected to continue with investors increasingly interested in such projects. President Uhuru recently laid the foundation in a ceremony for what is set to be Africa’s tallest building, in May this year. The Pinnacle Tower, a 70-storey building in Upper.... Read more »

Posted on : Tuesday , 3rd October 2017

Major Road Upgrades Underway in East Africa; ADB to be Financier

The Tanzanian governments have designs on upgrading the dual carriageway stretch of the Arusha-Holili road as they look to find funds to finance the project and upgrade the rest of the road. The carriageway stretches 14.2 kilometers and will pose as an arduous endeavour. The government has taken taken steps to approach the Japanese government as an a means to fund secure the funds and get the project running. Approaches to.... Read more »

Posted on : Tuesday , 3rd October 2017

Two Agreements Signed to Boost Agriculture in Tanzania

The government and the United Nations Food and Agriculture Organization (FAO) have signed two agreements, in an attempt to support farmers on issues regarding global warming and improved competitiveness in the rice farming trade, especially in the Iringa region. The agreement was signed by Eng. Mathew Mtigumwe, Permanent Secretary (PS) in the Ministry of Agriculture, Livestock and Fisheries and FAO Country Representative, Mr. Fred.... Read more »

Posted on : Monday , 2nd October 2017

Magufuli to Move Ahead With Selous Dam Despite Criticism

Tanzania Selous Game Reserve, one of the world’s biggest faunal reserves has gained a lot of traction in recent times from a minimum of 50 multinational companies. The intention of these companies is to construct the Rufigi hydropower project at Stiegler’s Gorge. Potential bidders were required to have a minimum of US$ 500 million turnovers, as directed by the Ministry of Energy and Minerals. The Selous Game Reserve.... Read more »

Posted on : Monday , 2nd October 2017

Plans in Place to Construct Tanzania's Largest Medical Factory

The Tanzanian Government has entered into a contract with Neusoft Medical Systems Company Ltd from China, to construct what is expected to be Africa’s largest medical equipment manufacturing company. A lot is expected from this new association. The products from this new factory will help diagnose, monitor and treat a number of diseases and conditions. The contract was signed, on the behalf of the government by Dr..... Read more »

Posted on : Monday , 2nd October 2017

"Cytonn Towers" Development to add to Nairobi's Skyline

A new 35-floor project is being developed in the Kilmani area in Kenya. Project developers Cytonn Real Estate is touting, this newest development as an “Iconic mixed-use development project”. The “Cytonn Towers” will be constructed at the junction of Egeyo Marakwet and Argwings Kodhek Roads, on a four-acre piece of land. In totality, the project is expected to cost as much as US$194m. Cytonn.... Read more »

Posted on : Monday , 2nd October 2017