Market News Page No. 70| Africa Business News

Exploring Multi-Sectoral Uses of Minigrid Power for All in Kenya

InfraCo Africa and Rural Village Energy Solutions are committing USD 8 million to support the scale-up of Kudura Power East Africa in rural Kenya. InfraCo Africa, which is part of the Private Infrastructure Development Group, will become a 40 per cent shareholder of minigrid operator Rural Village Energy Solutions’ Kudura Power East Africa. Gilles Vaes, CEO of InfraCo Africa said they are committed to scaling up minigrids as a.... Read more »

Posted on : Monday , 19th July 2021

Kenya, Tanzania Industrialists Kick Off Meeting on Market Access

The East African Community (EAC) common external tariff (EAC CET) upper band rate, harmonisation of domestic taxes, harmonisation of product standards, review of the EAC Rules of Origin, and activation of the dispute settlement mechanism, according to the Kenya Association of Manufacturers (KAM) and the Confederation of Tanzania Industries (CTI).Mucai Kunyiha, KAM chairman, stated that addressing relevant concerns between Kenya and Tanzania will.... Read more »

Posted on : Friday , 16th July 2021

Kenya counts on Dar mission to unlock trade barriers

Kenyan manufacturers are hopeful the just concluded trade mission to Tanzania will help open up trade between the two countries.The visit comes amid renewed political ties between the two countries, fostered by the warm relationship between Presidents Uhuru Kenyatta and Samia Suluhu, and their pledge to foster better working ties between the two countries.Last week, local manufacturers led by the Kenya Association of Manufacturers (KAM).... Read more »

Posted on : Friday , 16th July 2021

Kenya, Tanzania Signs Over $1B Gas Pipeline Agreement

Kenya and Tanzania, after years of tense relations, have inked a multibillion-dollar gas pipeline agreement.Tanzanian President Samia Suluhu visited Kenya for the first time to sign the agreement, at the invitation of Kenyan counterpart Uhuru Kenyatta. “We are friends in East Africa. Kenya leads in investments in my country Tanzania, and has invested in 513 projects worth $1.7 billion, providing employment to 51,000 Tanzanians,” Suluhu.... Read more »

Posted on : Thursday , 15th July 2021

Aminex Provides Operational Update on Ruvuma PSA, Onshore Tanzania

ARA Petroleum Tanzania Limited (APT), which has assumed operatorship of the Ruvuma PSA, has finalised the farm-out deal with Aminex.Aminex is carried for its portion of associated field development expenditures up to US$35 million, equating to a gross development expenditure of US$140 million, under the farm-out agreement.The joint venture partners believe that obtaining a high-resolution 3D seismic survey is critical to the creation of the.... Read more »

Posted on : Thursday , 15th July 2021

Hyundai Motor Kenya has opened the Global Hyundai Dream Center for Automotive Training and Education.

Hyundai Motor Company has announced the opening of its newest Hyundai Dream Center in Kenya, which is an automotive training and instructional institution. The new Dream Center is Hyundai Motor's sixth global institute, following Dream Centers in Ghana, Indonesia, Cambodia, Vietnam, the Philippines, and Peru.The Dream Center, which is located in the National Industrial Training Authority's (NITA) Athi River Campus in Nairobi, was inaugurated by.... Read more »

Posted on : Wednesday , 14th July 2021

Kenya courting investors from the United Arab Emirates to take advantage of the country's varied investment prospects.

Industrialization Principal Secretary Peter Kaberia advised businesses to use the Export Processing and Special Economic Zones in Lamu, Mombasa, Naivasha, and Nairobi to grow their operations in Africa during a virtual Kenya-UAE business conference. Kenyan imports from the UAE were estimated to be worth 18 billion shillings in 2020, while Kenyan exports to the UAE were estimated to be worth 4.2 billion shillings. Kenya has initiated a.... Read more »

Posted on : Tuesday , 13th July 2021

Tanzania's Special Department for Business and Investment is in the process of being established.

The government intends to create a specific department for business, investment, and industrial development in each of the 185 district councils, allowing regional business officials to handle business and investment in the country with complete authority. Geoffrey Mwambe, Minister of State in the Prime Minister's Office responsible for Investment, presented the proposal during a two-day seminar in Dodoma for regional business.... Read more »

Posted on : Tuesday , 13th July 2021

100MW Kipeto wind farm project in Kenya completed

The 100MW Kipeto wind farm project in Kenya has been completed. Pan-African developer BTE Renewables and Kenyan-owned renewable developer, Craftskills announced that all of the project’s 60 wind turbines are now producing power to the national grid. Located in Kajiado County, Kipeto is Kenya’s second-largest wind power project with a 20-year Power Purchase Agreement with KPLC. It is part of the former US President Barack Obama’s.... Read more »

Posted on : Monday , 12th July 2021

Rwanda gets $3.6m from EU to upgrade labs for Covid-19 jab production

Rwanda has inked a collaboration agreement with the European Union for Rwf3.6 billion ($3.6 million) to help enhance the country's laboratory capacity in order to attract companies to produce Covid-19 vaccines. The monies will be used to improve the Food and Drugs Administration's quality control for medicinal items, allowing the regulator to get World Health Organization certification (WHO). Rwanda Development Board Chief Executive.... Read more »

Posted on : Wednesday , 7th July 2021

Kenya Based Medical Firm Exports Medical Supplies to Tanzania

A medical equipment manufacturing business headquartered in Kilifi has secured a contract to deliver medical equipment to Tanzania. Tanzania has bought 11 million Covid-19 vaccination syringes from Revital Healthcare EPZ Ltd, which has ordered the 2ml, 5ml, and 10ml vaccine syringes. This comes on the heels of Kenya and Tanzania's improved relationship since President Samia Suluhu entered office in March of this year. Since.... Read more »

Posted on : Wednesday , 7th July 2021

AECF Launches a $1.2 Million Innovation Fund to Unlock Renewable Energy Potential to Create New Businesses in Africa

The African Enterprise Challenge Fund (AECF) has launched a $1.2 million Innovation Fund to unlock the potential of renewable energy to create new business opportunities.Businesses and entrepreneurs in Burkina Faso, Ethiopia, Kenya, Liberia, Mali, Mozambique, and Zimbabwe can apply for funding. The fund is aimed at strengthening market readiness of emerging innovations, as well as secure financial, technical, and networking support for taking.... Read more »

Posted on : Wednesday , 7th July 2021