Market News Page No. 58| Africa Business News

As new mine construction picks up speed, Akobo lays the foundation stone.

The foundation stone for Akobo Minerals' Segele mine in Ethiopia was laid at a ceremony. This is the beginning of the company's next phase of gold mining and production. Production is planned to begin by the end of 2022, with ramp-up continuing until 2023. Segele is expected to produce roughly 45,000 ounces of gold per year once it is fully operational. This might rise in the future, depending on new finds and processing facility.... Read more »

Posted on : Thursday , 31st March 2022

According to Tanzanian, Ugandan, and Guinean officials, Africa's future is bright, with ample investment prospects.

Three African officials stated during a discussion on the continent's development potential at the World Government Summit 2022 that the continent's future is 'bright,' with significant chances for foreign investment. Rt. Hon. Robinah Nabbanja, Prime Minister of Uganda, remarked that the "future of Africa is bright" during a session titled "The Rise of Africa: Strategies and Dynamics." 'The purchasing power is there,' she added, with.... Read more »

Posted on : Thursday , 31st March 2022

The Nairobi Expressway is getting its finishing touches.

The Nairobi Expressway project, which has been in the works since mid-2020, is almost finished, ushering in a new era in Kenyan road construction. The contractor is presently putting the finishing touches on the 27.1-kilometer elevated roadway, according to the Kenya National Highways Authority (KeNHA), in preparation for a scheduled test drive that would clear the way for the road's formal inauguration. 'Guided trials to test the.... Read more »

Posted on : Wednesday , 30th March 2022

Kenya's Food Security will be improved with new Solar Technology

Solar panels have been used to introduce a new technique aimed at increasing crop yield in Kenya. After a year-long study partnership between the University of Sheffield, World Agroforestry, and Latia Agri-business Center, the agrivoltaics technology, which involves capturing energy from the sun twice through the use of solar panels, was inaugurated at Isinya, Kajiado County. Solar panels are mounted three metres above the ground,.... Read more »

Posted on : Tuesday , 29th March 2022

Kenya, Africa's 3D printing powerhouse

Kenya has long been regarded as an African innovation hotspot. In Kenya, there are a number of companies that make use of 3D printing, and the country has a strong entrepreneurial and innovative culture. This has made 3D printing a highly practical and appealing technology, and if there's one thing that drives it all, it's Kenya's desire to develop its own solutions. Kenyans enjoy coming up with their own answers to issues, and 3D printing.... Read more »

Posted on : Tuesday , 29th March 2022

Tanzanian agriculture investment plans incorporate the Malabo Declaration.

Tanzania is one of the African countries that has adopted the famous Malabo declaration, particularly in terms of implementing all of the declaration's National Agriculture Investment Plans (NAIPs). This was said by the Ministry of Agriculture during the Malabo Policy Learning Event (MAPLE), which began with a video conference that was watched live by many stakeholders from around the continent. According to Ms Adella Ng'atigwa, the.... Read more »

Posted on : Tuesday , 29th March 2022

12 EU, African associations sign MoU to help the African auto sector grow

A historic memorandum of understanding (MoU) has been signed by twelve automobile organisations to accelerate the growth of the African automotive sector. A Memorandum of Understanding (MoU) was signed digitally between 12 Automotive Associations as part of the EU – Africa Business Forum 2022 with the goal of boosting the growth of the African Automotive Industry. While the automotive sector is critical to Africa's industrialization,.... Read more »

Posted on : Monday , 28th March 2022

Kenya's Stanbic Bank signed an import financing deal with two vehicle importers

MHH International Limited and World Navi Company Limited, two motor vehicle importers in Kenya, have formed an import finance cooperation with Stanbic Bank Kenya. With the signing of the agreement, consumers will get up to 80% financing from Stanbic Bank, with a 20% deposit paid to the importers and a payment period of up to four years. "Stanbic Bank intends to make it easier for our clients to get high-quality automobiles from foreign.... Read more »

Posted on : Monday , 28th March 2022

Over 2000 Pupils Benefit From Solar Devices in Garissa

At least 2000 children from 1700 households in Garissa County have benefited from the Mwangaza Mashinani Programme which is targeted to improve the wellbeing of children and their families particularly with regard to health and educational performance. The programme, which is financed by UNICEF and implemented by Garissa County Government, has been providing vulnerable families with Sh4, 000 twice a month to purchase solar powered lighting.... Read more »

Posted on : Tuesday , 22nd March 2022

Kenya to Use Solar Panels to Boost Crops by 'Harvesting the Sun Twice'

Solar panels are not a new way of providing cheap power across much of the African continent, where there is rarely a shortage of sunshine. But growing crops underneath the panels is, and the process has had such promising trials in Kenya that it was deployed in open-field farms. Known as agrivoltaics, the technique harvests solar energy twice: where panels have traditionally been used to harness the sun’s rays to generate energy, they.... Read more »

Posted on : Wednesday , 30th March 2022

Uganda, Tanzania to Become Oil Economies

Tanzania and Uganda are gearing up to become the region's oil economies with the latter signing a mega oil pipeline deal to transport Uganda's oil to its port of Dar es Salaam. The East African Community (EAC) is one of the fastest-growing economic blocs in the World. The pre-Covid-19 period saw the Economic Commission for Africa note that East Africa was actually the fastest growing economy compared to other regions on the.... Read more »

Posted on : Monday , 21st March 2022

Tanzania to Receive EUR 425 million from the European Commission

On 18th February 2022, the President of the European Commission (EC) Hon. Ursula Von der Leyen met with Tanzania’s President Hon. Samia Suluhu Hassan on her visit to Belgium. After the meeting, Von der Leyen has announced the EC’s support to Tanzania with EUR 425 million to fund various development projects in the country over the next 3 years. The funding corresponds to TZS 1.15 trillion and some areas of investment have.... Read more »

Posted on : Monday , 21st March 2022