Market News Page No. 56| Africa Business News

Ethiopia: Russian Company Keen to Invest In Ethiopia's Energy Sector

Major Energy Company of Russia keen to invest in Ethiopia, Ministry of Foreign Affairs said. The Ministry disclosed that one of the major energy companies in Russia, Energy solutions, electro technical holding company ERSO, has shown interest to invest in the energy sectors of Ethiopia. Ethiopian Embassy in Russia has briefed investment opportunities in the Energy sector in Ethiopia for company's management recently that led by Mr..... Read more »

Posted on : Tuesday , 15th February 2022

Tanzania: Upgrade to Boost Power Supply

The Tanzania Electric Supply Company (TANESCO) is upgrading its power production stations to boost electricity generation in the country. The power stations currently under extension include Kinyerezi I which will generate 185 MW and Ubungo III 112 MW. Maharage Chande, Director General of TANESCO told journalists during a tour to inspect the work progress that to date power generation from Ubungo III has reached 60 MW which have.... Read more »

Posted on : Tuesday , 15th February 2022

President Kenyatta states that strong bilateral ties between Kenya and Hungary are centered on trade.

Nairobi - Kenyan President Uhuru Kenyatta has praised the country's strong bilateral ties with Hungary, stating that the relationship is primarily driven by economic cooperation, trade, and investment. Kenyatta, on the other hand, bemoaned the low levels of commerce and investment between Nairobi and Budapest over the last five decades, despite the fact that the two cities had enormous commercial potential. The balance of trade between.... Read more »

Posted on : Friday , 11th February 2022

Kenya and European Union have begun talks to strengthen ties "beyond aid."

Kenya and the European Union have begun crucial negotiations to move their relationship beyond aid and toward long-term peace and development. Kenya's Cabinet Secretary for Foreign Affairs signed a joint declaration in Nairobi with visiting EU top diplomat Josep Borrell Fontelles to formally begin discussions on a Strategic Dialogue, a guiding text that may steer relations to "shared issues." Mr. Fontelles, the EU's High Representative.... Read more »

Posted on : Friday , 11th February 2022

Tanzanite Bridge starts operation today

Construction of the new Tanzanite Bridge in Dar es Salaam is complete, on the stroke of midnight on February 1, operations of the new bridge kicked off allowing motorists access they have been waiting for.The New Selander Bridge has combined the characteristics of a girder bridge and a cable-stayed bridge to make it lighter. The technique enhances construction and economic feasibility, according to the builder.Works minister Mbarawa had on.... Read more »

Posted on : Friday , 4th February 2022

Tanga Fresh a Tanzanian dairy processor receives a second round of funding from DOB Equity.

DOB Equity, one of the leading Dutch family-backed impact investors in East Africa, has announced an additional investment in Tanga Fresh, a Tanzanian dairy processor.DOB's additional investment is expected to assist Tanga Fresh in expanding its production in the long-life milk market. East African consumers are increasingly shifting away from fresh milk and toward long-life milk, presenting a significant opportunity for market growth.Tanga.... Read more »

Posted on : Tuesday , 1st February 2022

Construction of the Singida Gold Project is on schedule to begin in 2023.

Shanta Gold (AIM: SHG), an East Africa-focused gold producer, developer, and explorer, has released an update on the construction progress at the Singida Gold Project in Central Tanzania, indicating that first gold production will occur in early 2023. In October of 2020, work on the Singida gold project was started. 'The promising findings of our grade control drilling at Singida strengthens our confidence in the robustness of the.... Read more »

Posted on : Tuesday , 1st February 2022

Africa aspires to be the world leader in processed tropical wood by 2023.

Gabon's wood sector aspirations are outlined in the '2022-2023 acceleration plan.' This strategy intends to promote Gabon's economic diversification. The goal of the country is to become the world leader in processed tropical wood. 'We are already Africa's biggest manufacturer of plywood. We can be the world leader in processed tropical wood by 2023,' declared the Prime Minister on January 18 as he presented this growth vision. Gabon.... Read more »

Posted on : Tuesday , 1st February 2022

Tanzania signs a USD 1.9 billion contract to complete the third phase of the SGR Railway.

Tanzania's President, Samia Suluhu Hassan, observed the signing of the agreement for the building of the third section of the Standard Gauge Railway (SGR) linking Makutupora to Tabora on December 28, 2021. Tanzania Railways Corporation (TRC) and Yapi Merkezi of Turkey inked the deal during a ceremony at the State House in Dar es Salaam. The section's construction, which includes 294 kilometers of mainline and 74 kilometers of.... Read more »

Posted on : Tuesday , 1st February 2022

Nairobi based Car & General enters the electric car market

Car and General (C&G) will begin selling electric vehicles and tuk-tuks as part of a strategy to expand into the 'green' mobility market, which is projected to increase in response to efforts to combat climate change and pollution. For decades, the Nairobi Securities Exchange-listed company has sold motorbikes and three-wheelers with internal combustion engines as part of its varied activities, which also include consumer.... Read more »

Posted on : Thursday , 27th January 2022

Plans Underway to Introduce All-Electric Cars in the Nation says Kenya Power

Kenya Power claims that the country's innovative ambitions to enter into the all-electric car industry are well underway. Acting Managing Director Rosemary Oduor of the utility corporation said the government is closely monitoring the situation in order to make it easy for those who want to buy electric vehicles in the nation. "Kenya Power, the country's electrical distributor, will continue to innovate in this area. It is not only.... Read more »

Posted on : Thursday , 27th January 2022

Dow invests in Mr. Green Africa, a Kenyan company that recycles plastic.

Dow Chemical is a worldwide corporation. Mr. Green Africa will improve its plastic waste management systems (sorting, collection, and recycling) in Kenya and other African nations with this financing. Dow Chemical, a developer of packaging solutions, is once again helping plastic trash recycling in Africa. Mr. Green Africa has received funding from the multinational based in Michigan. "This is Dow Chemical's first investment in Africa of.... Read more »

Posted on : Tuesday , 25th January 2022