Market News Page No. 42| Africa Business News

Tanzanian uranium exploration by AuKing Mining gets under way

According to Paul Williams, CEO of AuKing Mining Ltd, the business has begun planned exploration at the Mkuju Uranium Project in southern Tanzania. Parts of a significant radiometric anomaly zone close to the renowned, Russian-owned Nyota Uranium Project will be the focus of the initial 3,000-meter drilling and related soil survey operation. In the Mkuju region, roughly 470 kilometers southwest of Dar es Salaam, AuKing now holds six.... Read more »

Posted on : Wednesday , 6th September 2023

See the $1.1 Billion Project That Will Transform the Markets of Kenya and Tanzania

The sale to readapt the now-defunct state-owned Kenya Petroleum Refineries Ltd (KPRL) was finalized by Kenya, clearing the way for a gas pipeline to run from Dar es Salaam to Mombasa. The feasibility assessment has been finished, according to Davis Chirchir, the Kenyan Cabinet Secretary for Energy and Petroleum, and will soon be followed by the signing of a transnational agreement for the project. “The defunct KPRL will now be under.... Read more »

Posted on : Tuesday , 5th September 2023

Kenya Seeks a $150 Million AfDB Loan for Power

Kenya is seeking a Ksh21.66 billion ($150 million) loan from the African Development Bank (AfDB) to connect homes to electricity under the 3rd phase of the Last Mile Connectivity project. The AfDB disclosed that the Treasury has applied for the $150 million in a review of the programme to be rolled out before the end of this year to light up an estimated 150,000 homes in 45 counties that exclude Nairobi and Mombasa. Kenya Power started.... Read more »

Posted on : Tuesday , 5th September 2023

Governor Johnson Sakaja to set up Kenya's Biggest Wood Furniture Industry

The initiative for aggregation and industrial parks, which is aimed at 27 Priority Counties, would soon enable Nairobi City County Government to establish the Nation's First Wood Furniture Business. Executive, commercial, and hustler opportunities Nairobi City County was one of the 27 Counties selected to execute along the CAIPs project, as stated by Maureen Njeri, and financing for it has been granted for the current fiscal year. A Wood.... Read more »

Posted on : Monday , 4th September 2023

Tanzania's Kidunda Dam Project in Top Gear

The Dar Es Salaam Water and Sewerage Authority (DAWASA) expects to spend $425.9 billion in the 2023–2024 budget year on the implementation of seven water projects, consequently the Kidunda Dam Project's operations are scheduled to continue. The dam has been hailed as an immediate measure for regulating water flows in the Ruvu river, an essential water supply for Dar Es Salaam and the Coast areas that accounts for more than 90% of the total.... Read more »

Posted on : Friday , 1st September 2023

Ethiopia Government and World Bank Sign $730 Million Corridor Project Agreement

The Addis-Djibouti Corridor project has taken a significant step forward, with the Ethiopian government recently signing a $730 million corridor project deal with the World Bank, which will support the upgrade of the main transport route which passes between Addis Ababa City and Djibouti. The Ethiopian Ministry of Finance revealed this in a statement, stating that the Horn of Africa Regional Economic Corridor Project, which will be overseen.... Read more »

Posted on : Tuesday , 3rd October 2023

Kenya's Enormous Potential as an East African Vehicle Manufacturing Hub

Kenya is strategically located between a port and enormous landlocked countries. The East African Community (EAC), which includes the Democratic Republic of the Congo (DRC) and Rwanda, has a population of little more than 300 million people. The Great Lakes Region's fledgling socio-political stability is going to provide a significant boost to regional business in the trade bloc. Kenya has friendly bilateral diplomatic and commerce.... Read more »

Posted on : Friday , 1st September 2023

$13.8 Billion Kenya-Ethiopia Railway Construction Plans Resume

Kenya-Ethiopia Railway construction will foresee resumption as the Government of Kenya has resumed its construction plans that are set to begin in the year 2025 to construct the high-speed electric train railway at a cost of $13.8 billion. The railway line is anticipated to run from the port situated in Lamu to Ethiopia and then later extend to South Sudan. The standard gauge railway that will cover a distance of 3,000 kilometers will link the.... Read more »

Posted on : Thursday , 24th August 2023

Kenya Will Produce Heavy Commercial Vehicles by End of Year – Kuria

Kenya will begin to locally gather weighty business vehicles before the years over, Speculations, Exchange and Industry Bureau Secretary Moses Kuria has reported. Kuria guaranteed that the nation will before long progress completely to dependence on privately gathered vehicles. "We have the ability to locally collect business vehicles, particularly the enormous trucks," he said. He talked in Mombasa during the send-off of Toyota.... Read more »

Posted on : Thursday , 24th August 2023

Ethiopia Advances toward an Automotive Future As Toyota Negotiations Continue

Authorities at the Service of Industry stay confident that Toyota will before long kick things off on a profoundly expected vehicle fabricating plant, however prerequisites and thoughts have delayed for north of a year. As defers in its ultimate conclusion continue, the Ethiopian government is seeking other significant automakers. During discussions in Tokyo last October, drove by Industry Pastor Melaku Allebel, Toyota illustrated.... Read more »

Posted on : Wednesday , 23rd August 2023

President of Kenya and UNCTAD Chief Meet

UNCTAD Secretary-General Rebeca Grynspan met today with President William Ruto of Kenya to examine the structural challenges confronting the area and deal UNCTAD's support. President Ruto expressed, "We firmly accept that UNCTAD is an essential accomplice for Kenya", underlining that exchange stays key to long haul practical financial development. He was joined by Industry, Exchange and Venture Bureau Secretary Moses Kuria. Ms..... Read more »

Posted on : Tuesday , 22nd August 2023

Tanzania's Future Fuel: Natural Gas' Revolutionary Potential

TANZANIA'S noteworthy petroleum gas abundance has turned into a distinct advantage, driving financial development and working on the existences of its residents. With huge stores dispersed the country over, the potential for monetary flourishing and worldwide impact is gigantic. This article takes perusers on an astonishing excursion through the revelation, use and difficulties of Tanzania's gas assets, featuring its pivotal job in the.... Read more »

Posted on : Tuesday , 22nd August 2023