Market News Page No. 47| Africa Business News

Tanzania expects annual revenue from graphite mining of USD 8 billion.

Once the proposed graphite mine at Mahenge in Ulanga District, Morogoro Region, begins operations, the government expects earning more than USD 3.6 million (8.4 billion/-) yearly. At a progress meeting with Mahenge mining project stakeholders, including the Minerals ministry, the mining commission, the Treasury Registrar's office, the revenue authority (TRA), TANESCO, the Tanzania-Zambia Railway, TanRoads, and the Tanzania Ports.... Read more »

Posted on : Thursday , 1st December 2022

Ethiopia's coffee and Tea export venture with Pakistan

Ethiopian Ambassador and Plenipotentiary Jemal Beker Abdula stated that his country has surplus tea and coffee that may be exported to Pakistan at reasonable prices. During a meeting with members of a joint delegation from the Pakistan Tea Association and the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), he stated as much (PTA). In response, the FPCCI and PTA representatives agreed that Pakistan has a sizable market for.... Read more »

Posted on : Wednesday , 30th November 2022

Kenya one of the nations in Africa to gain from Microsoft's Digital Transformation Program for the agriculture industry.

Microsoft established a cooperation with the International Finance Corporation (IFC) to support digital transformation through its Africa Transformation Office. The goal of this programme is to give farmers access to real-time data-producing digital technologies. IFC will be in charge of overseeing the programme for digital transformation's corporations and financial management. The initiative will also get investment, consulting,.... Read more »

Posted on : Wednesday , 30th November 2022

Ethiopia Forest Development at SLU in order to continue the ongoing collaboration

The visit's objective is to generate the content for phase two of a Sida-supported programme to boost Ethiopia's forest industry. The project is widely addressing a number of topics linked to sustainable forest management, small-scale forest business, and forest laws. Swedish Forest Agency and the Eco Innovation Foundation are also a part of the project's Swedish consortium, which is coordinated by SLU. "One of the key goals is to.... Read more »

Posted on : Wednesday , 30th November 2022

Zanzibar signs an agreement to build roads worth Sh537.8 billion

Roads of 103.5 kilometres will be built on the islands of Unguja and Pemba. The Zanzibar government has signed a road development contract with Propav, a UK business, in collaboration with Mwananchi Engineering and Construction Ltd, a Tanzanian company (MECCO). The contract calls for the construction of three highways totaling 103.5 kilometres on Unguja and Pemba Islands. On September 20, 2022, the signing ceremony took place at the.... Read more »

Posted on : Monday , 28th November 2022

BasiGo will begin EV assembly in Kenya following a $6.6M investment

BasiGo will begin building electric buses in Kenya next month, ramping up its production of public transportation vehicles (PSVs) in order to deliver 100 units by the end of next year. After completing a six-month trial programme in Nairobi, Kenya, the business expects to deliver 15 of the 100 buses, which will be built using parts from China's EV manufacturer BYD Automotive, in January of next year. It also intends to extend its charging.... Read more »

Posted on : Friday , 25th November 2022

Ethiopia's Addis Ababa signed a deal with Yutong for 110 buses

Yutong and Addis Ababa, Ethiopia, have inked a contract for the purchase of 110 municipal buses. Together with our Ethiopian partners, we work to improve Ethiopia's public transportation system and give locals a better travelling experience. Yutong will keep striving for excellent quality and services while advancing toward a brighter future. The city administration of Addis Ababa has inked two agreements with Chinese businesses to simplify.... Read more »

Posted on : Friday , 25th November 2022

SA Targets Greater Kenya Trade, Investment

South Africa plans to prioritize its economic relationship with Kenya to boost trade and investment, Trade, Industry and Competition Minister Ebrahim Patel said. Trade between the 2 countries last year was only R6.5 billion, which was “not sufficient,” Patel said at a business forum in the Kenyan capital, Nairobi, on 2nd November. He spoke after South African President Cyril Ramaphosa and his Kenyan counterpart, William Ruto, held.... Read more »

Posted on : Monday , 21st November 2022

Ethiopia Ready to Privatize Industrial Parks

Efforts are underway to transfer the ownership or management of industrial parks across Ethiopia, authorities confirmed. It is a policy departure from the past, whereby the initial plan was to keep industrial parks under the ownership of the government at the time when the parks were constructed. The privatization will be overseen by the Macro Economic Committee, formed by the Prime Minister and the Ministry of Finance, along with the.... Read more »

Posted on : Monday , 21st November 2022

UK Invests $4 Billion In Kenya To Support Climate Action

The UK government has agreed to invest US$4 billion (KES 500 billion) in Kenya to support the country's efforts to combat climate change.The UK Prime Minister Rishi Sunak met with Kenyan President William Ruto at COP27, agreeing a five-year investment deal that will see climate finance flow into the African country.These new, clean and green investments will become flagship projects of the UK-Kenya Strategic Partnership.The projects include: new.... Read more »

Posted on : Monday , 21st November 2022

Tanzania, Equinor, Shell to Sign Key $40 Billion LNG-Project Accords Next Month

Tanzania will sign key agreements with oil majors including Equinor ASA and Shell Plc next month to pave the way for a planned $40 billion liquefied natural gas export project, according to the nation’s Energy Minister January Makamba. “It’s happening,” January Makamba said in an interview in Sharm el-Sheikh, Egypt, where he is attending the COP27 international climate summit. “In December, we will conclude the conversation. We.... Read more »

Posted on : Tuesday , 15th November 2022

EIH Invests Big in Djibouti’s New Mega Oil Terminal

The recently formed sovereign wealth fund (SWF), Ethiopian Investment Holdings (EIH), crosses the border to hold stake in a lucrative mega logistics facility in Djibouti. As indicated by the information that Capital obtained, the 1st overseas investment venture for the SWF will come through a secured 30% stake in an ultra-modern oil port facility, which can comfortably accommodate the latest generation vessels. The investment holding.... Read more »

Posted on : Tuesday , 15th November 2022