Market News Page No. 29| Africa Business News

Iranian Businesses Agree to Distribute Vehicles Exclusively in Kenya

NAKURU, Kenya, - Quipbank Trust Restricted, East Africa's biggest gear imparting stage has marked an organization to Iranian car producers, Zamyad Organization and Iran's second-biggest vehicle maker, Saipa. Provincial Overseeing Overseer of the gear tenant, Paul Njeru said the plan will see the hardware leaseholder become the seller for different units including internal combustion Pickups and wholesaler for the mixture Light Business.... Read more »

Posted on : Friday , 4th August 2023

Tanzania and India's Haryana State Sign a MoU to Promote Trade and Investment

Tanzania Investment Centre (TIC) and the Foreign Cooperation Department of the Indian province of Haryana marked a Reminder of Figuring out (MoU) to upgrade exchange and speculation collaboration. The MoU covers different areas of shared interest, including cars, drugs, materials, designing, energy, synthetic compounds, manures, agrarian items, science, training, and the travel industry. Gilead Teri, Leader Overseer of TIC expressed.... Read more »

Posted on : Friday , 4th August 2023

Kuria Is Optimistic That 47 County Industrial Parks Will Be Built In a Year

NAIROBI, Kenya - Exchange Bureau Secretary Moses Kuria has oozed certainty that every one of the country's 47 areas will have modern parks by August 2024. Kuria expressed that the public authority was well on course to build the Area Collection and Modern Parks (CAIPS) which it expects to use on prodding the country's monetary development. During the gathering, Kuria noticed that it arose "that 32 out of 47 Areas have no type of.... Read more »

Posted on : Friday , 4th August 2023

OFID and Partners Support Tanzania's Renewable Energy Ambitions with USD60 Million Loan

A new USD60 million loan by the OPEC Fund for International Development (OFID) and partners is expected to significantly strengthen energy security in northwest Tanzania. The project will include constructing a 166 km overhead transmission line connecting the Kagera region to the national grid, replacing the current energy supply from Uganda with local hydropower resources. Tanzania has enormous potential in the field of renewable.... Read more »

Posted on : Thursday , 3rd August 2023

Sh47 Trillion Carbon Trading Investment A Boost for Tanzania

Producing and selling carbon offsets is finally becoming a lucrative business in Tanzania, with the government reported to have attracted over 20 companies that are set to invest over US$ 20 billion (Sh46.9 trillion). Minister of State in the Vice President's Office (Union and Environment), Dr Selemani Jafo, said since the regulations and guidelines on carbon trading were adopted last October the investment has attracted more than US$ 1.... Read more »

Posted on : Thursday , 3rd August 2023

Kubik Receives $3.34 Million to Convert Plastic Trash Into Affordable Building Supplies.

Kubik, a firm with headquarters in Ethiopia, has announced a $3.34 million investment that it claims will be used to boost manufacturing.The firm was created in 2021 by CEO Kidus Asfaw and Penda Marre, a former UNICEF employee. Kubik turns plastic trash into inexpensive building supplies. As a result, it addresses two issues: plastic pollution and cheap housing. Kubik turns plastic waste into inexpensive, low-carbon building materials. The.... Read more »

Posted on : Wednesday , 2nd August 2023

The Sugar Sector Is Making Progress to Recover

The North Coast's sugar industry is making positive moves toward bounce back from an extended time of emergency.Tongaat Hulett's business salvage specialists (BRPs) declared their favoured purchaser for the striving sugar goliath, while Gledhow Sugar Organization distributed their proposed business salvage anticipate July 12. Together, the two organizations work each of the four still functional sugar factories on the North Coast - at.... Read more »

Posted on : Wednesday , 2nd August 2023

Tanzanian President Meets with African Development Bank to Accelerate Agricultural Reform Following the Dakar 2 Africa Food Summit

Tanzania's Leader Samia Suluhu Hassan held converses with an African Improvement Bank assignment drove by VP Beth Dunford to help the East African country's horticultural creation and food security. The gatherings, hung on 27 June, covered different improvement issues, remembering the Bank's acknowledgment of Tanzania's advancement for fostering its farming area following January's Dakar 2 Africa Food Culmination. President Hassan was.... Read more »

Posted on : Wednesday , 2nd August 2023

JAT Holdings PLC has expanded Its presence in african markets

JAT Holdings PLC, a Leader in the Wood Coating Market in Sri Lanka, Bangladesh, and the Maldives, Enters the African Market in July 2023 by Establishing "JAT Paints Africa Limited" in Kenya Through a Joint Venture With Mayleen Corp, a Diversified Business House With Headquarters in Kenya. Following Its Incredible Achievement in South Asia, This Strategic Step Will Be Expected to Strengthen Jat's Position as a Leader in Wood Coatings Across.... Read more »

Posted on : Monday , 31st July 2023

Indonesian Minister Says Pertamina Plans on Establishing Oil Refinery in Kenya

Coordinating Minister for Maritime and Investment Affairs Luhut Binsar Pandjaitan revealed that state-owned oil and gas company Pertamina plans to expand its business to East Africa by establishing an oil refinery in Kenya. "Pertamina will enter Kenya after being asked to establish an oil refinery there. We also see an opportunity to bring their crude oil to Indonesia," Pandjaitan stated. Following a meeting with Pertamina's President.... Read more »

Posted on : Monday , 31st July 2023

Egyptian Firm To Study Dar Natural Gas Market

The Egyptian company, TAQA Arabia, is set to carry out a study that would enable the Tanzania Petroleum Development Corporation (TPDC) to supply natural gas to more residents in Dar es Salaam. The study will therefore inform the TPDC over natural gas market in the city so as to construct the needed supply infrastructure. Recently, the company signed the MoU with the TPDC for the envisaged undertaking. At the signing ceremony, TAQA.... Read more »

Posted on : Monday , 31st July 2023

Tanzanian Government Secures EUR 300 Million for Infrastructure Projects

ATIDI guaranteed a EUR300 million credit facility provided by Deutsche Bank AG to the Tanzanian government. The facility will finance numerous infrastructure projects that are part of Tanzania's budget for 2022/2023 and are in line with the country's National Development Vision 2025. Insuring Deutsche Bank against non-payment by the Tanzanian government on the loan facility advanced to the ministry of finance, ATIDI provided a seven-year.... Read more »

Posted on : Monday , 31st July 2023