Market News Page No. 41| Africa Business News

UK Govt Gives Euro 900k to IT Company for Africa Expansion

UK Export Finance has provided £900,000 of support to Atlancis, a Kenyan cloud services company, enabling it to build a new relationship with UK exporter Vespertec to open growth opportunities in Africa. A Standard Buyer Loan Guarantee was offered by UK Export Finance to guarantee an export credit loan from Apple Bank, supported by its UK servicer and arranger of the deal AF Capital. Both AF Capital and Apple Bank specialise in export.... Read more »

Posted on : Friday , 23rd December 2022

Nairobi Will House The African Headquarters Of Nexgen Packaging

NEXGEN Packaging, a US-based packaging company has started building its African headquarters in Nairobi, Kenya.The investment, which is situated in the Export Processing Zone on the Athi River, will support the business' operations in Ethiopia, Egypt and West Africa.Kenya will serve as the company's main industrial hub in Africa.Manuel Torres, managing director of NEXGEN's Europe, Middle East and Africa (EMEA) operations stated: "We are beyond.... Read more »

Posted on : Tuesday , 20th December 2022

Kenya-US Trade Deal, GMOS To Top Ruto Agenda At DC Summit

The destiny of a proposed streamlined commerce settlement among Kenya and the US is supposed to highlight noticeably when President William Ruto meets his American partner Joe Biden as an afterthought lines of the US-Africa Pioneers Culmination in Washington. President Ruto was because of fly out subsequent to driving the country for Jamhuri Day festivities at the Nyayo Public Arena in Nairobi. "I anticipate working with African.... Read more »

Posted on : Tuesday , 20th December 2022

Tanzania Government Bold Measures Boost Agriculture Financing

Expansion of credit to farming was all the while souring in October this year following estimates put on by the public authority since last year to support funding into the area. As per the Month to month Financial Audit delivered by the Bank of Tanzania during the week, yearly credit development to horticulture for the year finishing October 2022 remained at 57.7% contrasted with 46.7% in the previous month and negative 14% same period.... Read more »

Posted on : Tuesday , 20th December 2022

Tanzania and Zambia Outline Plan to Revive Tazama Pipeline

Tanzania and Zambia have agreed to build up security along their common oil pipeline as they finalise plans for the facility to start transporting refined petroleum products. The Tanzania Zambia Mafuta (Tazama) pipeline transported crude petroleum products from Dar es Salaam to Zambia, where they were processed at the Indeni Refinery in Ndola, Zambia. However, as part of President Hakainde Hichilema’s reform plan, the government.... Read more »

Posted on : Thursday , 15th December 2022

RWANDA: Israeli Homebiogas to Convert Agricultural Waste into Biogas

HomeBiogas wins order for biodigesters in Rwanda. The Beit Yanai, Israel-based company signed a deed of commitment with the United Nations (UN), which initiated the project, on the side-lines of the recently concluded 27th UN Conference of the Parties on Climate Change (COP27) in Sharm el-Sheikh, Egypt. As part of its contract, HomeBiogas will provide its solutions to farmers. The devices will be used to produce biogas from organic waste..... Read more »

Posted on : Thursday , 15th December 2022

Ethiopia Starts Exporting Electricity to Kenya

Ethiopia has started exporting electricity to neighbouring Kenya following a week of testing of a new transmission line, Ethiopian Electric Power said. The $500 million line has capacity to transmit 2,000 MW of electricity, potentially earning Ethiopia as much as $100 million annually. “Ethiopia has completed activities to ensure uninterrupted and reliable transmission of power and it is expected that similar activities will be.... Read more »

Posted on : Tuesday , 13th December 2022

Kenya's Ambitious Hydrogen Deal & Plan to Help Africa Exploit Green Energy

Kenya recently inked a deal with an Australian firm to establish a green hydrogen and ammonia plant, kick-starting the country's plan to utilise green energy across the continent. The industrial-scale production of green hydrogen and ammonia will be vital in making clean, affordable fuel and fertiliser for Africa. Further, it will help Kenya, which is already leading a geothermal revolution across Africa, increase its footprint in the.... Read more »

Posted on : Wednesday , 25th January 2023

KENYA: EDF and SunFunder Provide $2.7m to Solar Power Provider DPA

Good news for Distributed Power Africa (DPA) in Kenya. The Cassava Technologies subsidiary has a US$2.7 million line of credit from Electricité de France (EDF) and Mirova SunFunder, an investment company based in Nairobi, Kenya. With this financing, DPA plans to accelerate the development of its project portfolio. In Kenya and other African countries, the company, led by Norman Moyo, finances, builds and operates solar PV plants for commercial.... Read more »

Posted on : Monday , 12th December 2022

Africa: Solarise Raises $33m to Provide Solar Power to Businesses

Solarise Africa has funds to expand its solar PV portfolio in Africa. The Sandton, South Africa-based Company has raised €33.4 million. The facility was secured in a transaction arranged by the Facility for Energy Inclusion (FEI), a renewable energy financing facility set up by the African Development Bank (AfDB) and managed by Lion’s Head Asset Management. The EIF is providing $21.4 million in financing. Dutch impact investor.... Read more »

Posted on : Monday , 12th December 2022

BEKA Schreder Donates LED lighting to Matolweni Community Creche

BEKA Schreder is proud to have been involved in a heart-warming project where LED luminaires were donated to Matolweni Early Childhood Development Centre in Drayini Village, outside of Idutywa, Eastern Cape.The original Matolweni Early Childhood Development Centre was a mud hut crèche. High crime rates have initiated efforts to upgrade the facility. The community was introduced to the Samarpan Foundation headed by Nicola Irvine. Over the past.... Read more »

Posted on : Friday , 9th December 2022

Diaspora Desk is being established by the East African Community (EAC).

The inflow of funds from the diaspora contributed significantly to the bloc's FDI, which stood at $8.2 billion as of last year, prompting the bloc to develop a Diaspora Engagement Strategy. The move, if implemented, will make it easier for East Africans living in the diaspora to invest and trade in the region, according to EAC Secretary General Peter Mathuki. He was speaking at the East African Chamber of Commerce's 17th Annual Trade and.... Read more »

Posted on : Thursday , 1st December 2022