Market News Page No. 55| Africa Business News

TANAPA signs deal with two firms to purchases vehicles worth 15bn

TANZANIA National Parks Authority (TANAPA) has agreed to acquire cars and machinery from Al Mansour Auto EA Tanzania Ltd and Hughes Agricultural Tanzania Ltd for more than 15 billion. The agreement was signed yesterday at TANAPA Headquarters in Arusha by the two enterprises and the TANAPA Conservation Commissioner, William Mwakilema, revealing that the two firms had won the tender to supply the authority with cars and equipment. "The.... Read more »

Posted on : Wednesday , 23rd February 2022

Startups are targeting Kenya as an African EV powerhouse

Many e-mobility businesses have set up shop in Kenya to try to get electric vehicles on Kenyan roads, potentially turning the country into a regional centre for EVs. Working to alter areas such as public transit, motorbikes, and taxis, the firms want to leverage on Kenya's position as a worldwide leader in renewable energy, widespread technology adoption, and the government's support for electric cars through favourable.... Read more »

Posted on : Wednesday , 23rd February 2022

Rajsha Pharmaceuticals places a large bet on ayurvedic product export markets

Rajsha Pharmaceuticals, based in Ahmedabad, is looking for export opportunities in markets such as the United States, Canada, and the Commonwealth of Independent States. The company currently has a 30% export share of its overall turnover of Rs 15 crore, which it wants to grow in the coming year. Evergreen Liquid, Giloi Tablets, Vigor Capsules, Anu Oil, and Ayush Decoction are among the new ayurvedic products launched by Trojan.... Read more »

Posted on : Saturday , 19th February 2022

A Colorado marijuana company is planning to expand into Africa via Tanzanian medical clinics

Honest Marijuana Company joins together with a new clinic network to establish an African hub for medical marijuana cultivation and distribution. A marijuana corporation based in Colorado with worldwide ambitions plans to expand into Tanzania, with the intention of eventually breaking into the European market. Honest Marijuana Company, based in Oak Creek and specialising in organic marijuana, is teaming with a new chain of Tanzanian.... Read more »

Posted on : Saturday , 19th February 2022

Qatar, Kenya Discuss Bilateral Relations

Undersecretary of the Ministry of Commerce and Industry H E Sultan bin Rashid Al Chapter met with Deputy Minister of Trade and Industrialization of the Republic of Kenya H E Lawrence Karanja during the latter’s current visit to Qatar. During the meeting, the officials touched on the bilateral relations between the 2 countries in the commercial, industrial and investment fields, as well as ways to enhance and develop them. Moreover, the.... Read more »

Posted on : Friday , 18th February 2022

Africa's Free Trade Area to Boost the Creative Industry, Generate Jobs for the Youth

Africa's Free Trade Area (AfCFTA) is expected to be a boon for the creative sector and generate jobs for the youth. On 1 January 2021, trading under the African Continental Free Trade Area (AfCFTA) kicked off. The trade pact, which seeks to create a single market for goods and services and promote cross-border movement of capital and people, should boost intra-African trade, currently at only 18 per cent and regional integration. It is.... Read more »

Posted on : Friday , 18th February 2022

Tanzania Disburses $80m for EA Oil Deal Shareholding

Tanzania has already disbursed some $80 million (about Sh184 billion) as a part of its commitment in financing the East African Crude Oil Pipeline (EACOP), The Citizen has learnt. The director general of the Tanzania Petroleum Development Corporation (TPDC), Mr James Mataragio, said the parastatal oil company would have to pay a total of $308 million (about Sh708.4 billion) in the construction period covering the next 3 years. The.... Read more »

Posted on : Thursday , 24th February 2022

Tanzania LNG Project Talks Drag On

Tanzania is moving cautiously in its lucrative natural gas deals with no end in sight of the Host Government Agreement (HGA) negotiations, which resumed recently but are set to take longer than expected. Fresh discussions on the HGA over the multibillion-dollar project are being held in Arusha, northern Tanzania, after the negotiating teams finalised preliminary talks in November 2021. After being in limbo for nearly 2 years,.... Read more »

Posted on : Thursday , 17th February 2022

Medexpo international trade exhibition for the medical and healthcare industry opens today

The 23rd edition of Medexpo Africa was inaugurated today by Prof. Abel N. Makubi, PERMANENT SECRETARY, Ministry of Health, Community Development, Elderly, Gender and Children in Dar es Salaam at the Diamond Jubilee Hall. The much awaited trade show is open from 10:00 AM to 6:00 PM for the public for 3 days till 19th of February 2022. This premier exhibition for the medical and healthcare industry is the one place to source new products, services.... Read more »

Posted on : Thursday , 17th February 2022

KENYA: Alten Closes Financing For Its 55 Mwp Kesses Solar PV Plant

In Kenya, the Kesses solar project has reached a new stage. Its financing has just been completed following a financial mobilization that attracted 2 investors. This is the case of Standard Bank which arranged the transaction. The South African bank is also providing $41 million in debt including a term loan, a VAT (value added tax) and a debt service reserve facility. The bank will provide this financing through commercial banks CIB Bank.... Read more »

Posted on : Wednesday , 16th February 2022

KENYA: Three Solar Energy Providers Get CCISA Funding

In Kenya, 3 suppliers of solar energy for productive use will be supported by the Clean Captive Installations for Industrial Clients in Sub-Sahara Africa (CCISA) program. This initiative is implemented by the United Nations Environment Programme (UNEP) to provide clean energy to industrial and commercial (C&I) customers. As in most African countries, solar energy is gaining momentum in Kenya. The United Nations Environment Programme.... Read more »

Posted on : Wednesday , 16th February 2022

Government to Rehabilitate 363 Kilometers of old MGR Lines in Kenya

The government through Kenya Railways Corporation, the national railway of Kenya that is also known as Kenya Railways, is set to spend close to US$ 40M to rehabilitate a total of 363 kilometers of old railway lines, which are currently dilapidated, vandalized, or overgrown with vegetation, in the country. The lines include the 217km Nakuru-Kisumu meter-gauge railway (MGR), the 77.8km Gilgil-Nyahururu MGR branch line, and the 69.05.... Read more »

Posted on : Wednesday , 16th February 2022