Market News Page No. 7| Africa Business News

A New Solar Leasing Program has been launched by NCBA for Local Businesses

NCBA Bank announced the start of a new Solar Photovoltaic (PV) campaign aimed at local businesses as part of its ongoing sustainability initiatives. By making solar power adoption simpler, the program aims to assist companies in managing rising energy expenses and lowering their carbon footprints. NCBA Bank hopes to give sectors including manufacturing, healthcare, and agriculture more affordable and flexible access to solar energy with its.... Read more »

Posted on : Monday , 4th November 2024

Walkabout Resources Limited at Lindi Jumbo Graphite Mine Set to Boost Tanzania's Economic Growth

A September quarter report outlining operations at its Lindi Jumbo Graphite Mine in Tanzania was recently made accessible by Walkabout Resources Ltd. "The first quarter of ramp-up has demonstrated that the Lindi Jumbo Graphite Mine produces a sought-after, high-quality graphite product, with demand exceeding our forecasted production for the remainder of the year," said Andrew Cunningham, managing director and CEO of Walkabout, in a summary of.... Read more »

Posted on : Wednesday , 4th December 2024

Kenya's Northern Corridor Set for Major Upgrade with Nairobi-Malaba Expressway

Plans to construct a 256-kilometer Nairobi-Malaba highway are in full swing after the East African Community (EAC) revealed plans to perform a feasibility assessment before beginning construction, which will be financed by the African Development Bank. With a projected length of 256 kilometers, the Nairobi-Malaba Expressway is going to change Kenya's transportation infrastructure and increase the Northern Corridor's capability for trade.... Read more »

Posted on : Monday , 4th November 2024

Tanzania opens a facility for mining and industrial equipment parts.

With the opening of the state-of-the-art East Africa Conveyor Supplies Limited (EACS) facility in Kahama District, Shinyanga Region, Tanzania has made great progress in the production of mining and industrial equipment parts.Speaking at the facility in the Buzwagi Special Economic Zone, EACS Managing Director Peter Kumalilwa stated that the facility specializes in offering premium conveyor belts, rollers, and splicing materials, among other.... Read more »

Posted on : Monday , 4th November 2024

Connectivity in Ethiopia and Kenya is being shaped by the Ethiopia-Kenya Electricity Highway

The East African energy connection landscape is being redefined by the 2023 official opening of the electrical highway between Ethiopia and Kenya, which took over a decade to plan and build. The distance between Wolayta-Sodo in Ethiopia and Suswa in Kenya is 1,045 kilometers. Ethiopian hydroelectricity and Kenyan geothermal and wind power can be combined by both nations. Central to the idea is regional connectivity. This project is all.... Read more »

Posted on : Monday , 4th November 2024

Water and Sanitation Projects in Thika and Githunguri at Sh21 Billion

The anticipated Sh21 billion Thika and Githunguri Water and Sanitation Project in Kiambu County will be funded by the Danish International Development Agency (DANIDA). The government announced the plan at the beginning of this year, and it is expected to increase access to water for 1.2 million people in the Thika and Githunguri areas. The construction and restoration of water storage tanks as well as the installation of roughly 60.... Read more »

Posted on : Monday , 28th October 2024

Rwanda Energy Group Collaborates with ZESA to Implement New Street Lighting System

Zimbabwe has launched a nationwide street lighting program, starting with a pilot project in Harare that involves installing over 1,200 new lights.This initiative is part of President Mnangagwa’s "Zimbabwe is Open for Business" policy and his collaboration with Rwandan President Paul Kagame. The project will cover approximately 35km of Harare’s major roads, enhancing safety and traffic flow. Key roads already lit include Julius Nyerere.... Read more »

Posted on : Monday , 14th October 2024

Kenya Emerges as a Central Hub in the Plywood Trade under China's Belt and Road Initiative

China and India are increasingly targeting Kenya's Blue Gum tree plantations, sparking a rise in timber processing plants producing veneers. These operations are expanding rapidly post-pandemic. According to The Nation, Africa's largest independent media outlet, Chinese and Indian nationals are competing in veneer processing in several Kenyan regions, including Chepseon, Bungoma, Kisii, Isiolo, and Meru. The Timber Manufacturers Association.... Read more »

Posted on : Monday , 14th October 2024

Yutong seeking to establish its own assembly plant in Tanzania

Yutong, a Chinese producer of commercial vehicles, is presently examining Tanzania's market in order to determine whether to establish an assembly manufacturing plant there. This comes after the market has shown encouraging tendencies since it entered the nation. Kellen Zou, the CEO of Yutong Bus Tanzania, made this statement at the opening of the business's new headquarters and service facility for Yutong buses. He claims that Yutong.... Read more »

Posted on : Tuesday , 8th October 2024

A Toast to Diversity: Expanding Consumer Choices in Kenya’s Wine and Spirits Landscape

The wine and spirits industry in Kenya is experiencing a vibrant transformation, marked by strategic partnerships and significant investments that are reshaping the market. As global interest in African products grows, local companies are joining forces with international brands, fostering innovation, expanding production capabilities, and enhancing consumer choices. This collaboration is not only beneficial for businesses but also for local.... Read more »

Posted on : Monday , 7th October 2024

From China to America, International Investments Are Transforming Kenya’s Food Packaging Industry

Kenya’s food packaging industry is experiencing a vibrant transformation, attracting investments from various countries eager to tap into the region's potential. With a strategic geographical location, a burgeoning population, and an expanding middle class, Kenya presents a unique opportunity for foreign investors looking to enhance food safety and sustainability. The demand for innovative food packaging solutions in Kenya is on the rise,.... Read more »

Posted on : Monday , 7th October 2024

To increase digital payments and remittances in Kenya, Safaricom has partnered with Mastercard

A strategic agreement between Safaricom and Mastercard has been launched, with the aim of providing cross-border remittance services and payment acceptance to hundreds of thousands of Kenyan merchants. In order to improve digital payment solutions and financial inclusion, the partnership will make use of Mastercard's worldwide payment infrastructure in addition to Safaricom's mobile money service, M-PESA. This collaboration.... Read more »

Posted on : Monday , 7th October 2024