Market News Page No. 22| Africa Business News

Strategic Investment From Private Equity Fund Ascent Secured By Dune Packaging.

East African packaging solutions company Dune Packaging Ltd. has announced a collaboration with Ascent Rift Valley Fund II ("Ascent"), the region's SME-focused private equity fund. Ascent wants to help Dune Packaging innovate, grow into new markets and strengthen its environmental, social and governance (ESG) credentials as part of the deal. CEO of Dune Packaging Rohin Chandaria said he was excited about the relationship: "We are happy.... Read more »

Posted on : Wednesday , 8th May 2024

To Increase The Availability Of Clean Cookstoves In Africa, BURN Manufacturing Has Raised $12 Million.

Kenya-based BURN Manufacturing, a well-known manufacturer of clean cookstoves, has received more than $12 million in capital, primarily to expand the reach of its clean cooking products across the African continent. This grant is the outcome of Key Carbon Ltd.'s successful follow-on carbon project investment programme. Key Carbon Ltd., formerly known as CNR "Carbon Neutral Royalty," is now spearheading the effort to fund BURN's.... Read more »

Posted on : Wednesday , 8th May 2024

Dodoma Welcomes A New Participant In The Wine Industry

The country's Centre for grape producing, the Dodoma regions, has seen a growth in the number of wine processing firms opening up shop. This trend has given grape producers hope. Due to an absence of a guaranteed market for their produce, most grapes in the vines rotted in recent years, which worsened financial losses for the grape growers. In order to do this, the government has been working to provide favorable conditions and.... Read more »

Posted on : Wednesday , 8th May 2024

Dar es Salaam's Cutting-edge Cancer Centre Aims to Accommodate 100 Patients Daily

Longer lifespans are associated with higher cancer incidence. East Africa is seeing rising cancer rates due to a number of factors, including a move away from traditional, protective diets and pollutants in the food, water, and air.Over the past four years, the Tanzania Comprehensive Cancer Project (TCCP) has attempted to make improvements in this regard. Through a collaboration between the Institut Curie, the Government of Tanzania, the Bugando.... Read more »

Posted on : Tuesday , 7th May 2024

Record breaking figures at Kenya's biggest construction trade exhibition

The 25th BUILDEXPO KENYA 2024 is back in Nairobi from the 05th to 07th June 2024 at the Kenyatta International Convention Center (KICC). This year the event is bigger than ever with exhibitors from 43 countries. The annual international trade event will be inaugurated by Mr. Juma Mukhwana, the Principal Secretary, for the State Department of Industry, Ministry of Investments, Trade, and Industry, Govt. of Kenya on the 05th of June at 11 AM. The.... Read more »

Posted on : Friday , 3rd May 2024

$2 Billion Massive New Nairobi Airport to be Constructed in Kenya

The President of the Republic of Kenya, His Excellency Dr. William Samoei Ruto, is set to tap financial support from the United States of America during his visit that he is poised to make to the capital of US Washington DC in the coming month for the upcoming New Nairobi Airport project is set to help the capital of Kenya, Nairobi, attract more international passengers to places like the US, the United Kingdom (UK), and also the Middle East..... Read more »

Posted on : Friday , 3rd May 2024

Avira Resources Limited Announces Initial Exploration on Copper and Gold in Kenya

Avira Resources (ASX:AVW) has signed an agreement with Goitom Mining to acquire up to an 80% stake in the Meru Copper-Gold Project in central Kenya. Avira describes the geology as a sequence of gneisses, schists, quartzites, and crystalline limestones. A single grab sample from recent on-site fieldwork included 10.32% copper, 4.68 grammes per tonne gold, and 2,090 parts per million nickel. According to the terms of the earn-in agreement, Avira.... Read more »

Posted on : Wednesday , 1st May 2024

East African Economy Set to Grow by 5.1% in 2020, Led by Kenya, Rwanda, and Tanzania

A recent report by audit, tax, and consulting firm RSM (Eastern Africa) Consulting Ltd, titled "The East African Economic Outlook 2024," unveiled at the EAC CEO Roundtable in Nairobi, forecasts the region to maintain its lead in Africa's growth, with a projected expansion of 5.7 percent in 2025. Kenya is expected to sustain robust real GDP growth at 5.2 percent, with inflation easing to around 6.5 percent in 2024, closer to the central bank's.... Read more »

Posted on : Wednesday , 1st May 2024

Water Pipes Worth Sh10 Million Are Provided For A Murang'a Irrigation Project

The Kiarutara/Mwago irrigation project in Gatanga Sub County, Murang'a, has received water pipes valued at Sh. 10 million from the national government through the Ministry of Water and Irrigation. In order to encourage irrigation farming, the pipes would make it easier to distribute water to 12 villages in the upper regions of Gatanga Sub County. Irrigation Principal Secretary Ephantus Kimotho praised the 2010-established project,.... Read more »

Posted on : Tuesday , 30th April 2024

Kenya: Government Prioritizes to Fast-Track Key Infrastructure Projects

The government is committed to accelerating the implementation of key infrastructure projects in counties with the help of the National Government Development-County Implementation, Coordination and Management Committees (NGD-CICMC). As stated by Kwale County Commissioner Stephen Orinde, the government strategies to wrap up megaprojects as swiftly as possible so that they can fully contribute to the economy at large. Orinde stated that the.... Read more »

Posted on : Tuesday , 30th April 2024

Three-Year EV Adoption Plan in Kenya Involves an Investment of USD 1.9 Million

The nation's energy distributor, Kenya Power, announced that it will invest a total of 1.93 million US dollars over the next three years to promote the use of electric vehicles (EVs) in Kenya. According to Kenya Power Managing Director Joseph Siror, the investment pays for the development of charging stations at various locations throughout the nation as well as the expense of buying electric vehicles and motorcycles to assist commercial.... Read more »

Posted on : Monday , 29th April 2024

Officials from Uganda and Tanzania Discuss Energy and Mining Cooperation

To discuss bilateral cooperation in the energy, mining, oil, and gas sectors, a delegation from the ministry of energy is in Tanzania. The delegation was led by energy minister Ruth Nankabirwa, He stated That "We are in Dar es Salaam, Tanzania, and we met the Deputy Prime Minister and Minister of Energy, Dr. Doto Biteko to discuss the current state and prospects for bilateral co-operation in the energy, mining, oil, and gas sectors to.... Read more »

Posted on : Monday , 29th April 2024