Market News Page No. 63| Africa Business News | Afrotrade

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USAID is launching 13 new health projects in Kenya

The United States is following through on its promise to guarantee that Kenyans drive development. The United States Agency for International Development (USAID) is establishing 13 new health initiatives in Kenya that will be executed by Kenyan-owned, Kenyan-led, or Kenyan-managed enterprises. More than 90% of USAID financing for HIV treatment delivery in Kenya comes from the President's Emergency Plan for AIDS Relief (PEPFAR). “The US.... Read more »

Posted on : Friday , 22nd October 2021

Kenya aims to double domestic car assembly by 2025.

Kenya is relying on its national automotive strategy to support the sector, with plans to increase output over the next four years and reduce reliance on used imported automobiles.The strategy, which was proposed in 2019 and was approved by the Cabinet, aims to increase the number of cars made domestically while also creating more employment in vehicle assembly.According to Industrialization Trade and Enterprise Cabinet Secretary Betty Maina,.... Read more »

Posted on : Friday , 22nd October 2021

Kenya & Barbados Sign Bilateral Trade Agreements

Kenya and Barbados have signed 3 key bilateral agreements for cooperation in aviation, environmental conservation, trade and investment. President Uhuru Kenyatta and Prime Minister Mia Amor Mottley witnessed the signing of an air services agreement, a MoU on the development of the national botanical garden of Barbados, and another one on the establishment of a Joint Committee on Trade and Investment in Bridgetown, Barbados. President.... Read more »

Posted on : Friday , 22nd October 2021

PCK Signs A Deal With Swift Lab- A Kenyan Drone Firm

Under the 3-year agreement, Swift Lab Limited, a Kenyan cargo drone company will manufacture and operate drones that can travel up to 70km and carry a payload of up to 4kg. “We want to invest in the production of drones, it is not only our obligation as government to invest in Kenyan technology, but we are also keen on clawing back our market position as the courier and logistics services provider of choice,” said Dan Kagwe, the CEO and.... Read more »

Posted on : Friday , 22nd October 2021

Ghana is an Appealing Upstream Option For East Africa’s Hegemony

For the past two decades, Africa has been seen as the new frontier of oil and gas exploration, with many of the world's largest oil and gas firms vying to buy properties in an as-yet untapped store of natural resources critical to our way of life.While the East African powerhouse of Kenya, Uganda, Rwanda, Burundi and Tanzania have since seen massive development in their oil and gas infrastructure, Ghana has emerged as an alternative destination.... Read more »

Posted on : Friday , 22nd October 2021

Tullow Oil Announces a New Plan for the Kenya Project and Reports a Profit in the Interim

Tullow Oil returned with a first-half profit and a development plan for its Kenya operation on Wednesday, pushing shares in the Africa-focused company up as much as 9%.Tullow and its joint venture partners have finished the redesign of the Kenya development project, according to the business, which also stated that the project's total gross capex is estimated to be around $3.4 billion, which is higher than the prior estimate.The company which.... Read more »

Posted on : Friday , 22nd October 2021

KENYA: Co-Operative Bank Secures $7.5m Guarantee For Green SME Finance

The African Guarantee Fund (AGF) has signed a loan portfolio guarantee agreement with the Co-operative Bank of Kenya (CBK) for $7.5 million. The guarantee facility will enable CBK to finance green small and medium-sized enterprises (SMEs), particularly in the supply of solar photovoltaic energy. The Co-operative Bank of Kenya, a Nairobi-based financial institution, is launching a new range of bank loans for Kenyan small and medium-sized.... Read more »

Posted on : Thursday , 21st October 2021

Safaricom Aims to Be Kenya Power's Latest Meter Installer

According to Reuters, the telecommunication filed a proposal with utility Kenya Power for the installation of smart meters with the purpose of reducing non-revenue electricity and enhancing grid monitoring and management. The 330,000 smart meters, transformers, and feeders that Safaricom is planning to install will see USD 651.23 million in return on investment over a period of 8 years, of which Safaricom plans to take 75 per cent and.... Read more »

Posted on : Tuesday , 16th November 2021

ETHIOPIA: Addis Ababa To Invest $40bn In 71 Clean Energy Projects Over 10 Years

Ethiopia wants to become a major player on the African energy scene. The Ethiopian government wants to implement a 10year plan to produce and export the green electricity to the Horn of Africa and the whole of East Africa. As part of this strategy, Addis Ababa expects to invest USD40 billion in 71 renewable energy projects. The plan is ambitious for this East African country, which has an installed capacity of 4,965 megawatt according to.... Read more »

Posted on : Wednesday , 20th October 2021

AFRICA: Alphamundi Finances The Growth Of Solar Energy Provider Redavia

Redavia is receiving funding to accelerate the roll-out of its services in Africa. The company that provides solar power for commercial and industrial (C&I) customers is getting $1 million in mezzanine financing from AlphaMundi. The Geneva, Switzerland-based impact investment firm is investing in Redavia via AlphaJiri. The Mauritius-based fund was set up by AlphaMundi to provide debt, mezzanine and equity financing to support the resilience.... Read more »

Posted on : Wednesday , 20th October 2021

Government of Kenya launches US$ 4.6m water project in Nyali, Mombasa

The National Government of Kenya recently launched an over US$ 4.6M water project in Nyali, a residential area, and Sub-County within Mombasa City on the mainland north of Mombasa County.The project, which is a part of a close to US$ 12M water program in the coastal County, is set to significantly improve water services for the residents of Kongowea, Maweni, VOK, and Kisumu Ndogo.Speaking during the launch of the project, Water, Sanitation, and.... Read more »

Posted on : Tuesday , 19th October 2021

Renewable energy demand an exciting development in Tanzania

AN interesting development is emerging in Tanzania's power generation sector, with an increasing number of companies investing in renewable energy projects. Across the country are opportunities, plans and bidding options for greener energy, including hydropower, solar, geothermal, gas and wind power plants.Tanzania has $8.32 billion worth of projects currently either in the planning and development stage or under construction. These include the.... Read more »

Posted on : Thursday , 7th October 2021

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