Market News Page No. 70| Africa Business News

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

KENYA: Solarise Connects 1.8 MW Solar System to United Aryan’s Roof

The recently commissioned plant on the roof of United Aryan’s textile factory in Kenya is equipped with 3,334 solar panels. The plant, which has a capacity of 1.8 MW, was built (EPC) by Premier Solar Solutions. The Kenyan subsidiary of Starsight Premier Energy Group carried out the project on behalf of Solarise Africa, a provider of solar energy to commercial and industrial (C&I) customers. The Sandton, South Africa-based company.... Read more »

Posted on : Friday , 22nd April 2022

Totalenergies Launches First Solarised Station in Tanzania

TotalEnergies Marketing Tanzania in March launched its new global identity in Dar es Salaam as part of its ongoing transformation plan. The company also launched its 1st solarised service station at the TotalEnergies Samora service station in the city in an effort to give users an opportunity to enjoy products and services powered by solar energy. The company introduced its TotalEnergies image in Tanzania in May 2021 in its ambitious.... Read more »

Posted on : Friday , 22nd April 2022

Sirocco Energy Reports Progress on Both Assets in Tanzania

Scirocco Energy PLC (AIM:SCIR) said partner APT has set a target date of November 2022 to spud the Chikumbi-1 well at Ruvuma in Tanzania. Seismic data collection is underway with contracts for all long lead items for the well in place, the statement added.Scirocco has a 25% non-operated interest in the Ruvuma PSA. APT has already published a revised estimate of risked prospective gas in place for the Ntorya accumulation at Ruvuma of.... Read more »

Posted on : Thursday , 21st April 2022

East Africa: Uganda, Tanzania to Become Oil Economies

Tanzania and Uganda are gearing up to become the region's oil economies with the latter signing a mega oil pipeline deal to transport Uganda's oil to its port of Dar es Salaam. The East African Community (EAC) is one of the fastest-growing economic blocs in the World. The pre-Covid-19 period saw the Economic Commission for Africa note that East Africa was actually the fastest growing economy compared to other regions on the.... Read more »

Posted on : Thursday , 21st April 2022

KENYA: Olkaria I Geothermal Power Plant Unit 6 (83 Mwe) Testing Begins

Kenya Electricity Generating Company (KenGen), the largest geothermal power producer on the African continent, has announced the completion of the Olkaria I geothermal power plant unit 6. Kenya is still ahead of the game in exploiting its geothermal potential. The East African country’s geothermal power generation capacity is increasing by 83.3 MWe. This is thanks to Unit 6 of the Olkaria I geothermal power plant, which is about to come.... Read more »

Posted on : Monday , 18th April 2022

KENYA: VR Holding to Convert Solid Waste into Electricity in Kakamega

A solid waste-to-energy project is starting in Kakamega, 7 years after its official presentation. The Swedish energy company VR Holding AB has been appointed by the Kenyan government to carry out the work, which will cost 6 billion Kenyan shillings, or about $53 million. Kenya will soon have a new solid waste-to-energy plant. The facility will be located in Kakamega County. The project is being implemented by VR Holding AB. The Bastad,.... Read more »

Posted on : Monday , 18th April 2022

BioNTech sets sights on oral mRNA vaccines with deal to access Matinas delivery technology

BioNTech has reached an agreement to investigate the oral delivery of mRNA vaccines. The German mRNA specialist will investigate the potential for a lipid nanocrystal (LNC) platform to enable new vaccine formulations in collaboration with Matinas BioPharma. BioNTech was thrust into the biotech big leagues by the pandemic, as the vaccine it found and produced with Pfizer became a cornerstone of COVID-19 vaccination.... Read more »

Posted on : Wednesday , 13th April 2022

Pfizer has committed R255 million to the South African pharmaceutical industry

This investment, according to Pfizer, will provide jobs and opportunity for highly qualified health professionals. Pfizer, a multinational pharmaceutical corporation, has announced that through its relationship with the Biovac Institute, it will spend R255 million in South Africa's pharmaceutical sector. Patrick van der Loo, Pfizer's regional president for Africa and the Middle East (AfME), made the news at the Sandton Convention.... Read more »

Posted on : Wednesday , 13th April 2022

Air Tanzania Company Limited (ATCL) is in the final stages of signing partnership agreements with Emirates and the Royal Dutch Airline- KLM

Air Tanzania Company Limited (ATCL) is nearing completion on cooperation agreements with Emirates and KLM Royal Dutch Airlines, which will allow customers to travel to locations in the United States and Europe. The national carrier also stated that it was nearing the end of discussions with China's aviation authorities over a similar arrangement. "These firms are the largest in the world," said ATCL managing director Ladislaus Matindi..... Read more »

Posted on : Wednesday , 13th April 2022