Market News Page No. 67| Africa Business News

Mwigulu Applauds the African Development Bank for Supporting Tanzanian Development Projects

Dr. Mwigulu Nchemba, Tanzania's Minister of Finance and Planning, has praised the African Development Bank (AfDB) for its commitment to assisting the Tanzanian government in implementing new projects in several areas. Dr. Nchemba conveyed his gratitude during a meeting in Dodoma with AfDB President Dr. Akinwumi Adesina. Ambassador Liberata Mulamula, Minister of Foreign Affairs and East African Cooperation, was also present at the.... Read more »

Posted on : Wednesday , 9th March 2022

Investors from the U.S. want a bigger share of Kenya's market

As key officials and corporate delegations arrive in Nairobi, US President Joe Biden's government and American corporations are set to announce new investments in Kenya in sectors such as energy, health, and agri-business. According to a brief published by the US government before of the visit, US deputy assistant secretary of State Akunna Cook and Prosper Africa acting chief operating officer Leslie Marbury will go to Kenya on an economic.... Read more »

Posted on : Wednesday , 9th March 2022

Tanzania seeks to promote avocado production.

Tanzania's government has pledged to promote avocado farming. Exaud Kigahe, the Deputy Minister of Investment, Industries and Trade, made the announcement and stated that they intend to invest extensively in order to encourage more people to enter the profitable business for the country's development. This, he claimed, will be accomplished by implementing tough measures such as growing high-quality seedlings, encouraging mass production,.... Read more »

Posted on : Wednesday , 2nd March 2022

Kenya-Tanzania to construct a grain silos in Mombasa, After Juba and Lubumbashi

Tanzania is planning to build massive grain storage facilities and distribution centres in Mombasa to help market the country's surplus food supplies. The projected big silos will make it easier for Kenya and Tanzania to trade surplus food supplies. The investment will boost bilateral trade, which was worth US$905.5 million in 2021. Tanzania has high ambitions for grain storage facilities, as it currently has two grain storage.... Read more »

Posted on : Wednesday , 2nd March 2022

In Kenya, Rwanda and Nigeria, researchers developed innovative products out of old plastic water bottles.

Researchers from Loughborough University produced unique devices as part of an experiment aimed at lowering the impact of recyclable material in developing countries. The Circular Plastics project, worth £150,000, intends to promote local African companies including farming, fishing, and building by converting throwaway bottles into valuable products. The following are some of the products that have been developed: Fruit picker -.... Read more »

Posted on : Wednesday , 2nd March 2022

Shs20 Billion Low Cost Housing Project in Kiambu Commences

The construction of an Shs 20 Billion low-cost housing project in Kiambu county, comprising of 4,000 units has been officially launched by real estate companies, Heri Homes and Finsco Africa. The mega project, dubbed Legacy Ridges, will sit on a 200-acre land in the sixth largest urban center in Kenya, Ruiru. This low-cost housing project in Kiambu is projected to accommodate well over 20,000 people. The project will include.... Read more »

Posted on : Tuesday , 1st March 2022

Rwanda: Why Is Access to Financing Required for the Wood Sector

Experts have stated that the wood sector needs increased access to capital in order to increase its contribution to economic and export development, as well as employment creation. The wood sector employs around 75,000 people in Rwanda, according to Dr. Christian Sekomo Birame, Director-General of the National Industrial Research and Growth Agency (NIRDA), indicating its importance to the country's long-term development. 'We need to.... Read more »

Posted on : Monday , 28th February 2022

Tanzania forms new joint partnerships with mining companies.

Dar es Salaam: Tanzania's government has signed a joint venture deal with four mining corporations, paving the way for Tanzanians to benefit from the country's natural resources. Faru Graphite Corporation, Petra Diamonds Ltd (PDL), Nyati Mineral Sands Ltd, and Sotta Mining Corporation Ltd are the entities created out of the JV and will spend a total of Sh1.755 trillion. Prof Palamagamba Kabudi, the chairman of the negotiating team,.... Read more »

Posted on : Monday , 28th February 2022

The Nairobi Expressway will open on a trial basis in March 2022.

The Nairobi Expressway will be open to vehicles in March, according to Kenya's Transport Cabinet Secretary, James Macharia. The 27-kilometer highway, which runs from Mlolongo via Uhuru Highway to the James Gichuru Road junction in Westlands, will be tested in March 2022, three months sooner than expected. Previously, Kung'u Ndung'u, the director-general of the Kenya National Highways Authority (KeNHA), disclosed that the highway's.... Read more »

Posted on : Monday , 28th February 2022

By 2026, The Market For Led And Oled Displays And Lighting Products In Africa Will Have Reached Its Peak.

According to Future Market Insights' "LED & OLED Displays and Lighting Products Market: Africa Industry Analysis and Opportunity Assessment, 2016-2026," the Africa LED & OLED displays and lighting products market was valued at US$ 684.9 Mn in 2015 and is expected to grow at a CAGR of 17.8% from 2016 to 2026. "Increasing government backing and the introduction of new government projects for LED lighting is boosting the growth of the.... Read more »

Posted on : Friday , 11th March 2022

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