Market News Page No. 172| Africa Business News

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

Kenyan Medical Authorities to Incorporate WHO Guidelines

Kenyan Health Authorities are planning to adopt World Health Organization (WHO) guidelines, in their latest attempt at combating the issue of child mortality. Jackson Kioko, the Director of Medical Services from the Ministry of Health revealed at the Scientific Symposium on Pneumonia to commemorate World Pneumonia Day on Friday, November 12th. While speaking at the forum, Mr. Kioko also advocated the use of amoxicillin dispersible.... Read more »

Posted on : Wednesday , 18th April 2018

Kenya to Benefit from New Multi-Million Dollar Food Security Drive

Kenya will be one of the beneficiaries of a new Ksh 3 billion (US$280 million) undertaking, which will aim to increase incomes and improve food security of 30 million farming households. This partnership has been named, ‘The Partnership for Inclusive Agricultural Transformation in Africa (PIATA), was launched at the 2017 African Green Revolution (AGRF) by four organizations and has been described as an innovative and.... Read more »

Posted on : Wednesday , 18th April 2018

Report Sheds Light on the State of African Agriculture

According to the latest Africa Agriculture Status Report, the African food market may be worth more than USD 1 trillion annually by 2030. Entrepreneurs and the free market will mainly propel this forward and develop Africa’s economic advancement through food production. Businesses too have opportunities to benefit from a swiftly developing food market. The report notes, “Agriculture will be Africa’s quiet revolution, with a.... Read more »

Posted on : Wednesday , 18th April 2018

President Kagame Sees Scope For Growth In Rwanda

The Rwandan economy could expand to 6 percent in 2017 and a further 7 percent in the following year, according to President Paul Kagame. This growth could be credited to domestic demand and better commodity pricing. The economic index of Rwanda is projected to experience a rapid rise this year and the year after that follows as industries such as tourism, mining and financial services grow. The rate.... Read more »

Posted on : Thursday , 9th November 2017

$16 Million Tantalum Plant to be developed in Rwanda

Rwanda will soon begin exporting refined tantalum products around the globe in the coming 12 months, following a huge deal to build a $16 million manufacturing plant in the country. Rwanda produces 50 percent of the global supply of tantalum and remains the biggest exporter of the product. PLG Plc, a Malta-based company dealing in integrated metallic science materials with operations in Europe has recently signed off on a.... Read more »

Posted on : Thursday , 9th November 2017

Hyacinth Power Plant to be constructed by Local Kenyan Firm

An eight-megawatt power plant is to be built in Homa Bay County by a local firm using water hyacinth from Lake Victoria. The company Homa Bay Biogas One Ltd is awaiting permission from the Energy Regulatory Commission (ERC) to move forward with the plant. The company hopes to utilize the waterweed that regularly engulfs the lake and use it transform it to biogas. “Homa Bay Biogas One Ltd will make.... Read more »

Posted on : Wednesday , 8th November 2017

Tax Exemption for Renewable Energy in Tanzania

The Ministry of Energy is exploring the possibility of having a tax exemption on renewable energy with the Ministry of Finance and Planning as a means of attracting more investments into the sector. According to a recent report, to meet the goal of achieving 100% renewable energy, an investment of $160 billion will be required. After including investments in replacements after the expiry of its economic lifetime, the cost incurred.... Read more »

Posted on : Wednesday , 8th November 2017