Market News Page No. 70| Africa Business News

Kenya's economy booms as Tanzania softens borders

Tanzania's "softened" borders with Kenya, reduced non-tariff barriers and solutions to bilateral issues have resulted in the growth of businesses in both countries, a year after President Samia Suluhu took office. Data from the Kenya National Bureau of Statistics Economic Survey 2022 shows that Tanzania's exports to Kenya doubled in just 10 months. Before President Samia's tenure, the two countries had a number of spats on trade.... Read more »

Posted on : Monday , 9th May 2022

Heifer Launches Africa's Digital Agriculture Champions Initiative

The Digital Agriculture Champions (DAC) initiative was launched by Heifer International, a nonprofit organisation dedicated to ending global hunger and poverty. Starting in Kenya, the initiative will supply sustainable, cost-effective training modules for smallholder farmers across Africa. Heifer is investing in digital extension systems for training as a post-pandemic response strategy that will create efficient, scalable solutions for.... Read more »

Posted on : Tuesday , 3rd May 2022

Tanzania: Recycling helping growth in Businesses and job creation in Africa

As the world celebrated Recycling Day, more and more plastic trash is being redirected from landfills and into a circular economy that helps African countries generate employment and entrepreneurship. Diana Sibanda, Group Head of Sustainability at Coca-Cola Beverages Africa (CCBA), said the firm was working on more environmentally friendly ways to manufacture, distribute, and sell its goods. In a statement, she said, "We leverage.... Read more »

Posted on : Tuesday , 3rd May 2022

Sun King Raises $260 Million To Expand Access To Sustainable Energy In Africa And Asia.

Sun King, one of Africa's and Asia's top solar enterprises, has raised $260 million in series D funding to expand access to off-grid energy technology throughout the two continents.Sun King (previously Greenlight Planet) intends to invest $100 million in expanding its pay-as-you-go offerings and introducing larger setups capable of powering appliances such as refrigerators. Its present systems are capable of powering lights, cellphones, and.... Read more »

Posted on : Monday , 2nd May 2022

Kenya will stop the importation of used passenger mini-buses and large buses from July 1, the Kenya Bureau of Standards (KEBS)

KEBS managing director Bernard Njiraini said the move follows the implementation of new standards meant to boost safety on the roads as well as support local assemblers who produce over 5,000 units annually."All used passenger minibus, midibus and large bus, single articulated and bi-articulated and double-decker buses shall not be allowed for importation into the country from July 1," said Njiraini in a notice.The country has also banned.... Read more »

Posted on : Friday , 29th April 2022

Kenyan Community Projects that Save Forests and Livelihoods

More than 63 percent of people in Africa, according to the Center for International Forestry Research (CIFOR), have no alternative to wood and rely on it as their major energy source. In Africa, almost 90% of the wood harvested is utilised for fuel. Because cleaner alternatives or sustainable fuels remain out of reach, the International Energy Agency's regional energy forecast cautions that wood fuel will remain vital to Africa's future as.... Read more »

Posted on : Thursday , 28th April 2022

Ethiopia aims to increase large-scale Domestic Investment in the Mining Sector

Ethiopia has attempted to increase local investor engagement in the country's private sector – through the establishment of new rules and frameworks – in order to promote the industry, strengthen the economy, and drive socioeconomic development. Various economists, including Amanyhun Reda, a trade and investment counsellor, and Yared Haile-Meskel, Managing Director of YHM Consulting, have stated that the government's involvement will.... Read more »

Posted on : Wednesday , 27th April 2022

Ethiopia's USD 5 billion Grand Renaissance Dam Project Gets an Update

Ethiopia has begun concrete construction on the Grand Ethiopian Renaissance Dam's body, notably on the western side, in preparation for the third filling, according to sources. During the previous two years, the first and second fills have totalled eight billion cubic metres of storage. Water continued to flow through one of the two drainage holes on April 14, making turbine No. 10 operational. Insufficient storage resulted in the formation.... Read more »

Posted on : Wednesday , 27th April 2022

Nissan intends to sell 400-500 automobiles in Tanzania

NISSAN Motors Tanzania expects to sell up to 500 cars in the Tanzanian market this year, as part of its commitment to assisting Tanzania's economic growth by offering flexible and all-terrain transportation requirements. According to Nissan Tanzania Sales and Marketing Manager Alfred Minja, the Covid-19pandemic had a significant impact on the automobile sector by disrupting worldwide production and sales. This year, we want to sell.... Read more »

Posted on : Tuesday , 26th April 2022

Egyptian firm to set up vehicle assembly in Kenya

Ghabbour Auto (GB Auto), Egypt's publicly traded auto dealer, intends to form a joint venture in Kenya to produce and market passenger automobiles. The declaration was made last week during a board meeting, according to a regulatory filing to the Egyptian Exchange (EGX). The corporation, which sells automobiles, buses, lorries, and motorbikes, said that its board of directors had approved participation in the foundation of a company in.... Read more »

Posted on : Monday , 25th April 2022

Global Wholesale E-commerce Platform Launches in Tanzania

UAE logistics company DP World recently announced the launch of its wholesale e-commerce platform Dubuy.com in Tanzania. The online marketplace will give Tanzanian businesses access to international markets and provide a secure and reliable supply chain through DP World’s worldwide ports and logistics network, the company explains. The new platform enables Tanzanian businesses to buy wholesale products across a variety of.... Read more »

Posted on : Monday , 25th April 2022

Tanzania, US Sign Investment Agreements Worth Sh11.7 Trillion

Tanzania and the US have on April 22, signed 7 agreements for business projects which are set to be implemented in Tanzania by investors and companies from the United States of America. The signing of the agreement was witnessed by President Samia Suluhu Hassan who is in the United States for a 2 week official trip. According to a statement issued by the directorate of presidential communications, the deals with key private sector.... Read more »

Posted on : Monday , 25th April 2022