Market News Page No. 7| Africa Business News

Construction Begins on Nakuru's Sh200 Million Modern Market

Traders in Bahati Sub County, Nakuru County in Kenya will reap advantages from a multi-million integrated contemporary market that will be built at Kabatini Trading Centre. During the site handover, Governor Susan Kihika announced that the project is a collaboration between the National Government and the County Government of Nakuru. According to Ms. Kihika, the project would consist of recreational halls, prefabricated stalls, market space.... Read more »

Posted on : Tuesday , 2nd July 2024

Tanzania: The Emerging Mining Hub in Africa

Tanzania is poised to develop as a major mining powerhouse in Africa. Utilising strategic measurements and incentives to attract investment. Dr. Steven Kiruswa, the country's Deputy Minister for Minerals, emphasised the mining sector's rapid expansion at an annual rate of 10.9%, which contributes considerably to the national economy. The government's investor-friendly policies and regulations have played an essential part in nurturing this.... Read more »

Posted on : Tuesday , 2nd July 2024

TANZANIA: BII Funds $15m for Wind-Powered Mini-grids

Rift Valley Energy is receiving $15 million in investment from British International Investment (BII), the financial branch of British diplomacy (RVE). The company, owned by Meridiam, constructs and manages wind farms to supply nearby electrical systems. The French investment company Meridiam, with its headquarters located in Mafinga, Tanzania, is the sole owner of the company. British International Investment (BII), the financial branch of.... Read more »

Posted on : Monday , 1st July 2024

Tanzania Will Begin a US$15 Billion Water Investment Initiative via Creative Local Financing

The first public water utility in East Africa to issue green bonds to finance the growth of water services and infrastructure is Tanzania's Tanga Water Supply Authority. The project is a component of Tanzania's US$15.02 billion water investment program, which backs the AIP objective of the Africa Union to raise an extra US$30 billion for sustainable sanitation and water security in Africa. During the Mind Gap Campaign launch at the.... Read more »

Posted on : Monday , 1st July 2024

ARA Petroleum to develop Tanzania’s largest onshore natural gas discovery

ARA Petroleum announced that Tanzania's Ministry of Energy has granted a 25-year Development Licence for the Ntorya natural gas discovery area to the Ruvuma joint venture. The licence was awarded to ARA Petroleum Tanzania Limited (APT), a subsidiary of ARA Petroleum and operator of the Ruvuma JV.This licence enables APT to advance Tanzania’s largest onshore natural gas project, aiming to supply gas to the domestic market within a year. "We are.... Read more »

Posted on : Monday , 1st July 2024

Tanesco and Rea Tasked With Ensuring Reliable Power in Tanzania

MOROGORO: Tanzania Electric Supply Company (TANESCO) and Rural Energy Agency (REA) have been instructed by Dr. Doto Biteko, the Minister for Energy and Deputy Prime Minister, to operate effectively and professionally in order to guarantee a dependable supply of energy to the general population. Dr. Biteko made these remarks at the opening of the massive Ifakara Substation and 20MVA distribution facility. "I would like to encourage.... Read more »

Posted on : Saturday , 29th June 2024

Surge in Furniture Purchases Spurs Wood Coatings Demand in Kenya

This year's Woodtech Africa, an international exhibition for the wood and woodworking industries, will be held in Kenya again. This occurs at a time when the nation is seeing a spike in the demand for high-quality furniture items due to population growth, urbanization, and rising middle-class and lower-class purchasing power.The November 2024 event in Nairobi brings together manufacturers and suppliers of adhesives, veneers, and coatings..... Read more »

Posted on : Friday , 7th June 2024

Kenya's Vaccine Cold Chain Receives A Big Infrastructure Update

With over 2,000 pieces of new, improved equipment being integrated and expanded into Kenya's enormous vaccine supply chain, there is growing hope that unreached children will have reliable access to inoculation. Kenya's vaccination system has gotten an important upgrade, 2,061 pieces of new and enhanced cold chain equipment, worth $7.09 million (1.1 billion Kenyan shillings), will support preventive health care throughout the country's 47.... Read more »

Posted on : Thursday , 6th June 2024

Kenyan Government Initiates Construction of Three Key Road Projects

The residents of Ganda, Kakuyuni, and Marafa Wards in Kilifi County are overjoyed that the construction of major roadways aimed at promoting development has begun. The Kilifi County Government plans to spend approximately Sh140 million on the construction of phase one of the Kijiwetanga-Jakaranda road in Ganda Ward (Sh40 million), phase two of the Goshi-Madunguni road in Kakuyuni Ward (Sh50 million), and cabro roads at the Marafa Trading.... Read more »

Posted on : Wednesday , 5th June 2024

South Korea Lends Billions to Tanzania to Promote Africa's Mining Resources

As part of larger agreements, Tanzania and Ethiopia announced that they had inked agreements with South Korea for billion-dollar loans. These partnerships will grant the Asian country access to Africa's vital mineral resources and a sizable export market. South Korea is holding a meeting with Africa that will be attended by at least thirty heads of state, including those from Tanzania and Ethiopia. Tanzania announced that it will take out.... Read more »

Posted on : Monday , 22nd July 2024

Unicef and Zanzibar Sign Sh32.3 Billion Contract to Enhance Health Services

The United Nations Children's Fund (Unicef) and the Ministry of Health in Zanzibar have reached an agreement for the procurement of materials meant to enhance health care, particularly for women and children.Unicef will assist in the provision of necessary medications and food items, medical equipment for refurbished healthcare facilities, vehicles for the Department of Preventive Services, and project management teams through the procurement.... Read more »

Posted on : Tuesday , 4th June 2024

Aga Khan University Partners in Global Initiative to Achieve Health SDGs

To address SDG implementation issues affecting human health, the Aga Khan University Medical College, EA has formed a coalition with the Sustainable Development Goals (SDG) Kenya Forum.The project aims to address inequalities related to the advancement of health and health-related Sustainable Development Goals (HHSDGs) in Kenya and improve community health and well-being through the CHOICE Project, an initiative of the Institute for Global.... Read more »

Posted on : Tuesday , 4th June 2024