Market News Page No. 46| Africa Business News

Sun King's $130mln Securitisation Deal to Fund Kenya's Off-Grid Solar Sector

Sun King, a provider of solar energy products for off-grid homes in Africa and Asia, has closed the 1st Kenyan-Shilling-denominated securitisation deal, injecting $130 million into the East African nation’s off-grid solar energy sector. The 4 year deal is issued under Sun King’s sustainable financing framework, allowing the company to sell its solar products at affordable instalments. The transaction will help expedite clean.... Read more »

Posted on : Thursday , 1st June 2023

Land Set Aside for Construction of Isolation Center for Epidemics Treatment in Tanzania

Tanzanian health authorities have set aside 90 hectares of land for the construction of an isolation centre for epidemics treatment. The government has allocated 8.8 million U.S. dollars in the 2023/2024 financial year for regulating outbreaks of highly infectious diseases.Godwin Mollel, the deputy minister for Health, told parliament that the high-tech isolation centre will be built in the Kagera region that borders Uganda. "We have.... Read more »

Posted on : Friday , 26th May 2023

Tanzania: Gas-Rich to Launch Rare Bid Round.

Tanzania aims to launch its 5th oil and gas licensing round by the end of 2023 in a move designed to revive interest in its largely dormant exploration and production sector. After a blitz of offshore exploration, largely by Shell and Equinor, in the years to 2018, the focus point of the few oil companies that remain in Tanzania has centered on infill wells or improving existing well stock on coastal gas fields such as Mnazi Bay, Songo.... Read more »

Posted on : Thursday , 25th May 2023

Indian Firms in Bid to Buy 50% Stake in Kenya's $3.4bln Oil Project

Indian oil firms ONGC Videsh and Oil India Ltd partner for the possible acquisition of a 50 % stake in London-based Tullow Oil's $3.4 billion oilfield project in Kenya, Press Trust of India news agency reported, citing informed sources. However, the Indian consortium faces competition from Chinese energy giant Sinopec, which has entered the competition following delays by Indian companies. Initially, ONGC Videsh, the overseas arm of.... Read more »

Posted on : Monday , 14th August 2023

Making the Agriculture Sector Greener in Tanzania

Tanzania's horticultural sector presents significant opportunities for youth to earn lucrative incomes. However, the use of gasoline or diesel-powered irrigation pumps has negative environmental effects and is an expensive solution. To mitigate climate change and increase agricultural productivity, the Tanzania Renewable Energy Association (TAREA) partnered with the Dutch Embassy and the Climate Response Facility (CERF) to implement the.... Read more »

Posted on : Wednesday , 16th August 2023

Shakti Pumps Starts Operations in Uganda To Supply Solar Pumps

Shakti Pumps (India) Limited, a leading manufacturer of stainless-steel submersible solar pumps, pressure booster pumps, pump-motors, controllers, and inverters among other products, has expanded its presence in another export market with the commencement of operations in Uganda and opened a branch office in the country. Dr. S Jaishankar, the External Affairs Minister along with the esteemed Uganda government members and Mr. Ramesh Patidar.... Read more »

Posted on : Wednesday , 24th May 2023

Kenya: Energy Ministry to Build Cow Dung Biogas Plants in 20 Counties

The Ministry of Energy is looking to build domestic masonry biogas plants using cow dung in 20 counties. In a tender document, the Ministry has invited bidders for the construction, testing, and commissioning of the projects. They will be built in devolved units such as Nyamira, Kisii, Uasin Gishu, Laikipia, Homabay, Kakamega, Tharaka Nithi, Narok, and Nandi. Others include Migori, Nyandarua, Nyeri, Kirinyaga, Bomet, and Bungoma,.... Read more »

Posted on : Tuesday , 23rd May 2023

Kenya: Germany Commits to Fund Kenya's Transition to 100% Renewable Energy

Germany has committed to offer both financial and technical support to Kenya to enable the country meet its target of achieving 100 % transition to renewable energy by the year 2030. Germany Chancellor Olaf Scholz praised Kenya for its strong leadership and investments in geothermal energy, noting that will go a long way in helping the country in its climate change adaptation plans. Chancellor Scholz who was speaking during his visit.... Read more »

Posted on : Tuesday , 23rd May 2023

Kenya Praises the Third Industrial Development Decade for Africa's Implementation

The 39th meeting of United Nations Industrial Development Organization (UNIDO) and Financial plan Board in Viena, Australia, Head Secretary in the State Division for Industry Dr. Juma Mukhwana who drove the Kenyan designation, unveiled that in 2022, in excess of 250 ventures, with a complete worth of US$63.3 million, barring between provincial and worldwide portfolios, were under execution in Africa, under the more extensive system of IDDA III,.... Read more »

Posted on : Friday , 19th May 2023

Kenya Takes Steps to Re-establish Its Local Textile Industry

Kenya as of late said ranchers will get free synthetic compounds and preparing to guarantee most extreme yield and the public authority is supposed to give an adequate number of unrefined components to the material business. The state division for industrialization, the service of agribusiness and the Crack Valley Material East Africa Ltd (RIVATEX) will team up on the venture. The step is supposed to support the home-grown cotton.... Read more »

Posted on : Friday , 19th May 2023

Ethiopia Earns USD 74 Million from Meat Export

Ethiopia's meat sends out have acquired USD 74 million during the most recent nine months of the 2022/2023 financial year, as detailed by the Animals Improvement Organization (LDI). Ethiopia sent out 16,000 tons of meat to the worldwide market during this period. As per Sahilu Mulu (PhD), the Delegate Chief General of LDI's Social Economy The board Exploration Division, sheep and goat meat sends out created USD 72 million USD while trades.... Read more »

Posted on : Thursday , 18th May 2023

Ethiopia Coffee Quality Inspection Centers to Open in Jimma and Hawassa

According to the Ethiopian Tea and Coffee Authority (ETCA), centers for coffee quality inspection and certification are anticipated to open in Jimma and Hawassa. Coffee will be shipped straight from the centers. One of Ethiopia's most popular English-language publications, Addis Fortune, said that the Jimma centre will gather coffee from the towns of Metu, Illubabur, Buno Bedele, Kefa, Sheka, and Benchmaji. Yirgacehefe, Sidama, and Guji.... Read more »

Posted on : Thursday , 18th May 2023