Market News Page No. 50| Africa Business News

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

Tanzania's drive to promote medical tourism gains new momentum

Tanzania's commitment to provide access to specialised and super-specialized healthcare services was given a boost as the Ministry of Health signed an MoU with Egypt's Alameda Healthcare company. Prof. Abel Makubi, permanent secretary in charge of the Ministry of Health, noted that this was the government's seventh similar agreement, following those with Kenya, Burundi, Rwanda, Israel, India, and Turkey. According to him, the MoU with.... Read more »

Posted on : Friday , 11th November 2022

EADG healthcare centre to have its construction completed in the next 3 years

The Ethio-American Doctors Group (EADG) and the China Civil Engineering Construction Corporation (CCECC) recently signed a contract in Addis Ababa for the construction of the first phase of the EADG healthcare centre located. A cutting-edge hospital that provides top-notch healthcare will be built as part of the project's first phase in three years. The contract was signed by Li Minggang, managing director of CCECC, and Tesfaye Fanta,.... Read more »

Posted on : Friday , 11th November 2022

Ethio-Djibouti 2nd Circuit High Power Transmission Line Launched

Construction on the Ethio-Djibouti 2nd Circuit High Power Transmission Line and Distribution Station Project was recently launched by Ethiopia and Djibouti. Along with strengthening the electrical and transportation links between the 2 neighbouring states, the project is anticipated to bring Ethiopia foreign revenue. EEP CEO Ashebir Balcha stated during the project’s launch that the 2 connected countries will benefit socioeconomically.... Read more »

Posted on : Thursday , 10th November 2022

KENYA: Tender for the Olkaria VII Power Plant Feasibility Study

Kenya Electricity Generating Company (KenGen) is inviting tenders for the feasibility study of the Olkaria VII geothermal power plant. The plant will be built at the Olkaria geothermal complex in Nakuru County in western Kenya. A new steam power plant is expected to be built at the Olkaria geothermal site in the Rift Valley, western Kenya. The 7th plant is the subject of a recent tender by Kenya Electricity Generating Company (KenGen). The.... Read more »

Posted on : Thursday , 10th November 2022