Market News Page No. 22| Africa Business News

Ethiopia and UAE's AMEA Power Sign $600 Million Wind Farm Agreement

Ethiopia has signed an agreement with United Arab Emirates' AMEA Power for the construction of a 300 megawatt wind farm at a cost of USD 600 million, its finance ministry said on 1st December 2023. The Horn-of-Africa nation is turning to renewable energy to boost electricity coverage, which stood at 50 percent of the population in 2020 according to the World Bank, leaving 60 million people outside of the grid. The Aysha wind farm will.... Read more »

Posted on : Wednesday , 6th December 2023

The Nyerere Hydropower Plant in Tanzania Is Being Connected to the National Grid

Tanzania's power utility company announced that the connection of electricity from the mega Julius Nyerere Hydropower Project (JNHPP) to the national grid began In November. The Tanzania Electric Supply Company Ltd. (TANESCO), a government-owned company, said in a statement that trial runs will follow the connection of power to the national grid. "Connection of power to the national grid is a milestone to the country's electricity.... Read more »

Posted on : Wednesday , 6th December 2023

KenGen Issues A 40 MW Kenyan Floating Solar Project Tender

Kenya Electricity Generating Company (KenGen) is seeking consultants to assess the viability of a floating solar power plant with a potential capacity of around 40 MW. The project, backed by the German Development Bank (KfW), aims to be situated on the Kamburu Hydropower Plant Reservoir in Kenya. KenGen had previously conducted a pre-feasibility study in 2020, recommending a 40 MW floating PV project on the Kamburu dam due to factors.... Read more »

Posted on : Tuesday , 5th December 2023

UNHCR Uses Innovative Solar Projects in Kenya and Uganda to Promote the Renewable Energy Agenda

The UN Refugee Agency (UNHCR) has commenced the implementation of solar installations in three of its office locations in Kenya and Uganda, benefiting a combined population of over 650,000 displaced individuals in Kakuma, Adjumani, and Yumbe. This initiative, part of the Green Financing Facility (GFF), represents a pioneering approach to financing renewable energy projects in fragile settings. Launched in 2019 with support from the Swedish.... Read more »

Posted on : Tuesday , 5th December 2023

Tanzania has a burgeoning woodworking sector

Tanzania is a budding market for the woodworking industry, there are several companies that operate sawmills in Tanzania, such as Wood Export Co., Energo Tanzania, Green Resources, Pethad Trading Company Limited, Wood Industry Solutions, Hope General Supplies, Gats Solutions Co Limited, Ifundaindustrial, Bora Msaky Sawmill, Rasik Lagoon, and Firgos International BV, operate sawmills in Tanzania, which is a developing market for the woodworking.... Read more »

Posted on : Tuesday , 5th December 2023

At the Africa Green Industrialization Initiative, Kenya Secures $4.48 Billion in Green Manufacturing Transactions

NAIROBI, Kenya has announced the signing of green manufacturing agreements worth USD 4.48 billion during the opening of the Africa Green Industrialisation Initiative (AGII). President William Ruto presided over the event, which included coordination with the COP28 Presidency (UAE) and several other African states. The monies, according to Hussein Mohamed, State House Spokesperson, would be awarded to various green manufacturing.... Read more »

Posted on : Monday , 4th December 2023

Exploring the Benefits of Artisanal and Small-Scale Mining Activities in Kenya

The Ministry of Mining, Blue Economy, and Maritime Affairs is carrying out ground truthing and confirmatory fieldwork on the country's 970 acknowledged mineral deposit occurrences. The goal of the fieldwork is to verify the mineral's presence, purity, and amounts throughout 16 counties. Cabinet Secretary for Maritime Affairs, Blue Economy, and Mining Salim Mvurya stated that in an effort to boost the mining industry and guarantee that it makes.... Read more »

Posted on : Wednesday , 29th November 2023

Health Professionals Pledge to Increase Funding for Africa.

During the two-day pre-Kigali conference, a number of African experts, including representatives from the World Health Organisation, UNAids, NEPAD and the AU Business Council, shared best practises and insights gained from the private sector's involvement in health and health financing.More than three hundred attendees from across the continent are expected for the main conference, which is scheduled for February of next year in Kigali,.... Read more »

Posted on : Wednesday , 29th November 2023

Tanzania Government Set to Ink 15 Road Construction Contracts Totalling Over 1 Trillion

The Tanzania Roads Agency (TANROADS) intends to sign 15 contracts for the construction of asphalt roads and bridges for 1.034 trillion shillings to boost infrastructure services in the country. This statement was made by Innocent Bashungwa, Minister of Construction, during supplementary replies in Parliament in Dodoma during the Fourth Session, 13th Meeting. According to Bashungwa, the projects will be implemented using local funding.... Read more »

Posted on : Wednesday , 29th November 2023

Kenya and Japan seek to transform automotive industry

Kenya and Japan have initiated an Industrial Policy Dialogue with the aim of defining the path of industrial cooperation that will boost their economic ties. This is intended to enhance the mutually advantageous relationship between the two countries, according to Cabinet Secretary for Trade, Investment, and Industry Rebecca Miano, who met with Japan's Minister for Economy, Trade, and Industry, Yasutoshi Nishimura, during bilateral.... Read more »

Posted on : Wednesday , 29th November 2023

According to the Health Agency, Russia Will Assist Ethiopia in Enhancing Its Capacity for Epidemic Preparedness.

The state Russian health agency Rospotrebnadzor announced on social media following the visit of the agency's delegation to the East African state that Russia and Ethiopia have decided to undertake collaborative scientific research, including assistance for the Ethiopian side to develop laboratories and increase the African country's capacity to prepare for epidemics.The nations also talked about potential areas of collaboration in the area of.... Read more »

Posted on : Tuesday , 28th November 2023

Ethiopia Launches Africa Minigrid Programme with Goal of Providing Clean Energy Solution

The Ministry of Water and Energy in collaboration with the Global Environment Facility (GEF) and UNDP Ethiopia has launched the Africa Minigrid Programme (AMP). The AMP to be implemented with financial support secured from GEF is said to create a multifaceted access to clean energy solution for Ethiopia and 20 other African countries. The programme also helps to scale up commercial investments in the renewable energy sector. On.... Read more »

Posted on : Wednesday , 15th November 2023