Market News Page No. 64| Africa Business News

Kenya Power and Lighting: The African Development Bank's SEFA funding will finance the country's first Super ESCO.

The Sustainable Energy Fund for Africa (SEFA) has announced a one-million-dollar grant to help Kenya's government establish a Super Energy Service Company (ESCO).The Super ESCO, to be run by the Kenya Power and Lighting Company, will develop and implement energy efficiency projects for both the public and private sectors.Super ESCOs are vehicles for channelling funding into public-sector energy efficiency projects like hospitals, schools, and.... Read more »

Posted on : Thursday , 30th September 2021

India East Africa Community (EAC) to drive enhanced trade partnerships

Indian Economic Trade Organization in association with the India Africa Trade Council organized the INDIA EAC SUMMIT in New Delhi on 3rd September which was attended by the High Commissioners of Rwanda, Tanzania, Uganda and the Ambassador of Zimbabwe in India. The motive was for building up bilateral business relations between both the countries of India and the countries in the EAC region namely Uganda, Tanzania, Rwanda, Burundi, South Sudan,.... Read more »

Posted on : Wednesday , 29th September 2021

Changes in global trade dynamics shift automotive supply chain hubs to Africa

The global trade dynamics are shifting as a result of a variety of short-term and long-term variables. The rising viability of new Arctic marine routes, the growth of new states into automotive manufacturing centres, changes in geopolitical equations, supply chain resilience, and shifting talent pools are just a few of the global variables that might influence future supply chain hubs.Some of the world's largest automakers, including.... Read more »

Posted on : Wednesday , 29th September 2021

Tanzanian government allocates USD 1.93 billion for road construction and rehabilitation

The government has approved a total of 1.93 billion in the fiscal year 2021/22 for the construction and rehabilitation of roads around mountains totalling 82.1 kilometres in length, according to Mr David Silinde, Deputy Minister of State in the President's Office (Regional Administration and Local Government). According to him, the funds would be utilised to build 22.3 kilometres of gravel-level lower belt roads, one bridge, 63 culverts,.... Read more »

Posted on : Wednesday , 29th September 2021

Tanzania Mining Industry Aims to Capitalize on the Rare Earths scramble

As miners seek to expand the rare earths sector, projects are springing up all over the world, including Tanzania in Africa. Rare earth elements, a fast-growing mainstay of the green energy revolution, are utilized to manufacture electric magnets used in everything from electric cars (EVs) to direct-drive wind turbines. With stricter global emissions regulations driving up demand for EVs, capitalizing on rare earth material reserves is a.... Read more »

Posted on : Tuesday , 28th September 2021

French alcohol firms entice new drinkers in Kenya

The rules for drinking wines and spirits were once pretty simple. Drink what you know. But in this time where consumers are trading up to more expensive and uncommon brands, do not assume you know what your favourite tipple tastes like.It is this desire to enjoy food and drink that is opening new opportunities for wine and spirits investors from France, seeking a bigger share of the Kenyan market.Nineteen French wine and spirits producers and.... Read more »

Posted on : Monday , 27th September 2021

Kenya is now open for Indian travellers

Indians can now experience Kenya's many adventures as the Kenya Tourism Board has announced that the country has reopened its borders for Indian travellers. Kenya was closed for a while for tourism amidst a second wave of coronavirus. According to the Kenya Civil Aviation Authority (KCAA), India to Kenya flights will now resume. Furthermore, an added good news is that Indian travellers will not have to be quarantined if they can show a COVID.... Read more »

Posted on : Monday , 27th September 2021

Kenya and Tanzania sign bilateral agreement to ease trade restrictions

The government of Kenya and its neighbouring country Tanzania have signed a Joint Communique after the three-day bilateral meeting attended by the high-level technical team from both countries.The agreement was signed by Tanzania's PS for the Ministry of Trade Doto James and Kenya's Amb Johnson Weru after a three-day bilateral in Mombasa.During the meeting, the representatives from both countries solved 12 out of 30 issues that were.... Read more »

Posted on : Monday , 27th September 2021

Leading Auto financing company acquires ROAM Africa's online car platforms

Autochek, the automotive technology business that facilitates vehicle finance across Africa, and ROAM Africa (Ringier One Africa Media) have agreed for Autochek to purchase the automotive markets Cheki Kenya and Cheki Uganda as Autochek grows deeper into the African market.East Africa's expanding industry is positioned as a vital car finance centre, with credit penetration in Kenya at 27.5 percent, much greater than the West African market,.... Read more »

Posted on : Friday , 24th September 2021

African wood industry surges on sustained international demand for raw materials

The colonial past of Sub-Saharan Africa has impacted the growth, development, and ownership structure of its forest and wood products business, particularly the wood processing sector. The placement of wood processing plants corresponds to the availability of raw materials. As a result, the vast majority of current processing plants are in West and Central Africa. Kenya looks to be the leading producer of processed wood in East Africa..... Read more »

Posted on : Friday , 24th September 2021

Kenya and Estonia sign health deal

President Uhuru Kenyatta met with his Estonian counterpart Kersti Kaljulaid, who was in town. Kaljulaid was in Kenya for a three-day official visit. During the conversation, the two heads of state saw the signing of a bilateral framework of cooperation on Political Consultations, Health, and an environmental letter of intent. "Several issues of common importance to Kenya and Estonia were also discussed," according to State House.... Read more »

Posted on : Thursday , 23rd September 2021

Tanzania's trade to be boosted by AfCFTA agreement

Tanzania's ratification of the African Continental Free Trade Area (AfCFTA) would enhance the country's international trade. According to business analysts, it will act as a platform for increasing Tanzania's commerce with Africa, which is now at 15%. "About 80% of our commerce is with nations outside Africa," said an Arusha-based economist who applauded the decision. The agreement, which was confirmed by the government last Thursday,.... Read more »

Posted on : Thursday , 23rd September 2021