Market News Page No. 32| Africa Business News | Afrotrade

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KENYA: Japan’s Toyota Wins Menengai Geothermal Power Plant Contract

British independent power producer (IPP) Globeleq has awarded Toyota Tsusho Corporation the contract to build the Menengai geothermal power plant in Kenya. The Japanese company will start construction in the first quarter of 2023. The Japanese company Toyota Tsusho Corporation has been appointed to execute the engineering, procurement and construction (EPC) contract for the geothermal power plant in western Kenya. The project, which aims to.... Read more »

Posted on : Tuesday , 28th February 2023

Tanzania, France Sign New Pact to Foster Air Links

Going by the National Bureau of Statistics (NBS), with 100,371 arrivals last year, France brought in the second highest number of arrivals from outside the African continent, after the US, whose figures stood at 100,600. The Basa, meant to attract more tourists, was signed by the Works and Transport minister, Prof Makame Mbarawa, on behalf of Tanzania and France’s minister for Foreign Trade and Economic Attraction, Mr Olivier.... Read more »

Posted on : Monday , 27th February 2023

UAE Firms Troop into Tanzania after President Samia’s Visit

Two more United Arab Emirates companies have made in-roads into Tanzania, following President Samia Suluhu’s trip to the Gulf country last year to seek business. On 6th February, the Tanzania Forest Services Agency (TFS) and UAE-based Blue Carbon LCC announced a joint environmental conservation programme to promote sustainable forest management practices while reducing greenhouse gas emissions. It came after state-owned Emirates.... Read more »

Posted on : Monday , 27th February 2023

Among the top trade-friendly nations in Africa is Kenya

According to a ranking released by the Spanish consulting company Bloom Consulting, Kenya is the seventh most appealing African nation for trade. From the 12th position in the previous assessment, where it was ranked behind Nigeria, South Africa, Ghana, Morocco, Egypt, and Ethiopia, Kenya rose five spots in the most recent rankings. Additionally, the report noted that Kenya was listed among the top 10 nations for the first time since the.... Read more »

Posted on : Monday , 27th February 2023

Kenya Power plans to convert its 2,000 vehicles to electric

Kenya Power, the country's main power distributor, plans to convert 2,000 petrol and diesel-powered cars to electric during the next four years. The effort is part of a growing trend in the East African economy to use the ample energy supply from renewable sources to convert automobile and motorbike engines from fossil fuels to electric. The effort is part of a growing trend in the East African economy to use the ample energy supply.... Read more »

Posted on : Monday , 27th February 2023

East Africa automobile imports from new dealers are doubled

Kenyan new car dealers increased their shipments to the regional market last year, demonstrating their ability to serve neighbouring nations. The businesses Isuzu East Africa and Scania East Africa lead sold 387 units in total to the outside markets in the fiscal year that ended in December, according to data from the Kenya Motor Vehicle Industry Association (KMI). This was up from 193 units the previous year. During the study period, the.... Read more »

Posted on : Monday , 27th February 2023

Beginning with its Sahamamy Project in Africa, Tirupati Graphite has begun manufacturing.

The 18 000 tpy flake graphite production facilities at the Sahamamy project in Madagascar have begun operation, according to Tirupati Graphite plc, a specialist graphite and graphene firm creating sustainable new age materials. Thus, the business has achieved a 30 000 tpy flake graphite capacity that is important on a global scale and is moving closer to a steady state >80% production in the near future. Highlights of the Sahamamy.... Read more »

Posted on : Monday , 27th February 2023

Tanzania Approves $3.5bn Oil Pipeline

Tanzania’s government gave its approval on Tuesday for the construction of a $3.5 billion crude oil pipeline despite human rights and environmental concerns about the mega-project. The 1,443-kilometre (900-mile) pipeline will transport crude from vast oilfields being developed in Lake Albert in north-western Uganda to a Tanzanian port on the Indian Ocean for delivery to international markets. Uganda’s 1st oil is expected to flow in.... Read more »

Posted on : Friday , 24th February 2023

Kenya to Build a Gas Pipeline Linking Tanzania’s Dar es Salaam to Mombasa

Kenya is exploring the feasibility of constructing a gas pipeline linking Tanzania’s major coastal city of Dar es Salaam to Kenya’s coastal city of Mombasa and later extending it to Nairobi, Kenya’s capital, Africanews reported in October 2022. According to Kenya’s new president Dr. William Ruto, the prospective 600km pipeline, estimated to cost $1.1 billion, would help reduce the country’s soaring energy costs. President.... Read more »

Posted on : Friday , 24th February 2023

Ethiopia Grants First Ever Commercial Mini-Grid Licence

Ethiopia will increase its reliance on solar energy, including solar mini-grids, to electrify its population. The Ethiopian Petroleum and Energy Authority (PEA) has awarded the country’s 1st ever commercial mini-grid licence to Humanitarian Energy (HumEn), an Ethiopian-based company owned by the non-governmental organisation (NGO) Mercy Corps and Rensys Engineering and Trading. Humanitarian Energy wants to install a mini-grid powered by a.... Read more »

Posted on : Friday , 24th February 2023

KPA Shifts to Solar Power Plant in Green Port Plans

Kenya Ports Authority (KPA) is the latest heavy power consumer to embrace the shift towards renewable energy after it rolled out plans to commission a new solar plant, as part of the green strategy at the Mombasa port. The five-10 MW power plant will be installed within the port and will also help it cut down on electricity bills. A feasibility study conducted by energy and marine consultancy ABL Group has picked 2 possible brownfield.... Read more »

Posted on : Friday , 24th February 2023

Kenya Railways has begun work on the Nairobi Railway City initiative.

The projects will involve constructing a public square and a new stop for the Nairobi Central Railway. Phase 1 of the Nairobi Railway City project, which is anticipated to cost KES12 billion (USD 95 million), has begun construction by Kenya Railways. The project's groundbreaking event took place at the Nairobi Central Railway station in December. The Nairobi Railway City, a multimodal, transit-oriented, and urban development.... Read more »

Posted on : Thursday , 23rd February 2023

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