Market News Page No. 73| Africa Business News

Construction of Msalato International Airport in Tanzania to start soon

The construction works of the proposed Msalato International Airport (MSIA) in Tanzania are expected to start after this financial year according to the Tanzania Airports Authority. This will probably come following the approval of the 2021/22 budget that was recently presented to the East African country’s parliament by the Ministry of Works and Transport. In the over US$ 1.6bn budget, the Ministry has allocated close to US$ 14M to.... Read more »

Posted on : Friday , 11th June 2021

Tanzania May Start Building $30 Billion LNG Project in 2023

Tanzania plans to begin the construction of a delayed $30 billion liquefied natural gas project in 2023, following the resumption of talks with companies including Equinor ASA.Construction is expected to take about five years, Energy Minister Medard Kalemani told lawmakers last week.The project gained momentum after President Samia Suluhu Hassan took office in March, and directed her administration to fast-track delayed investments. Plans.... Read more »

Posted on : Thursday , 10th June 2021

Power Integrations Supports Electric Vehicle Designs

The automotive-qualified InnoSwitchTM3-AQ flyback switcher from Power Integrations, the pioneer in high-voltage integrated circuits for energy-efficient power conversion, was launched. The IC family now includes a member rated at 900 V, allowing for more headroom in inverter, battery management, and climate control applications for 400 and 800 V electric vehicles.The InnoSwitch3-AQ family is a single IC that integrates primary and secondary.... Read more »

Posted on : Friday , 4th June 2021

Inchcape Launches BMW Motorcycle Dealership in the Kenyan Market

The arrival of Inchcape into the motorcycle sector is expected to assist Kenya's automotive industry.Inchcape is an automotive distributor, retailer, and services firm established in the United Kingdom. Kenya (Inchcape Kenya) and Ethiopia (MOENCO) are the company's African dealerships, with Kenya serving as a centre for seven other African countries. Inchcape started as a Jaguar Land Rover dealer in Kenya in 2018 and later acquired the BMW.... Read more »

Posted on : Friday , 4th June 2021

Labacorp Energy to Establish New Solar Academy in Kenya

Labacorp Energy, a Cameroonian indigenous company, has announced that it will open a new solar academy in Kenya to support the government objectives towards a sustainable source of power in the country's energy sector by grooming more solar skilled workers. Labacorp will work with its joint venture partner, Mission Excellence Kenya, to establish the solar academy in the in Nairobi country's capital city. The project will be completed within.... Read more »

Posted on : Monday , 23rd August 2021

Chinese Firm Begins Construction of New Industrial Park in Ethiopia

China Civil Engineering Construction Corporation has started the construction of a new industrial park in Eastern Ethiopia. The 1st phase of the industrial park will be built on 370 hectares of land near the Dire Dawa. It will feature various clusters and is expected to attract investors into textile, clothing and leather processing sectors. The industrial park will be built close to the Ethiopia-Djibouti standard gauge railway for easy.... Read more »

Posted on : Tuesday , 1st June 2021

Bangladeshi firm to manufacture diabetes, malaria drugs in Kenya

Square Pharmaceuticals, one of Bangladesh's major drugmakers, will begin producing pharmaceuticals at its multibillion-dollar manufacturing plant in Kenya within the next four months, aiming to meet unmet demand in Kenya, Tanzania, Rwanda, Burundi, Uganda, and South Sudan. The pharmaceutical company began building of a facility in the tax-free export processing zones (EPZ) in Athi River in 2018, with an initial expenditure of Ksh2.58.... Read more »

Posted on : Monday , 31st May 2021

America's DFC invests $5m in Africa Healthcare Network

The US International Development Finance Corporation (DFC) has announced the first release of a $5 million direct loan to Africa Healthcare Network (AHN), the biggest dialysis clinic operator in East Africa. The initiative is part of DFC's complete COVID-19 Response, which aims to mitigate the economic and health effects of the COVID-19 pandemic, as well as DFC's Global Health and Prosperity Initiative, which aims to enhance global health.... Read more »

Posted on : Monday , 31st May 2021

In Kenya the world's first boat built of recycled plastic sets sail.

The 'Flipflopi vessel' is the world's first recycled plastic ship. It will set sail on Lake Victoria in Kenya to launch a plastic pollution awareness campaign. During the journey, the boat, which is made entirely of recycled plastic, will go through three East African countries with the help of the UN Environment Programme's (UNEP) clean seas programme. They've also established innovation clusters and start-ups focused on the.... Read more »

Posted on : Thursday , 27th May 2021

Tanzania's EcoAct recycles plastic scrap into valuable materials

EcoAct Tanzania is one of the organisations that is pioneering new techniques to recycle plastic trash while also conserving the environment. EcoAct, one of Tanzania's fastest-growing tech firms, uses "Waxy ii Technique," a chemical-free and energy-efficient plastic extrusion technology. This cutting-edge method recycles and transforms post-consumer plastic waste into plastic lumber. The effort was founded to address issues such as.... Read more »

Posted on : Thursday , 27th May 2021

Tanzania targets mining to boost sector's GDP contribution

Tanzania Ministry of Minerals is now concentrating on strengthening revenue collection to boost the mining sector's contribution to GDP.Minister for Minerals, Dr Dotto Biteko, offered his ministry's budget estimates, stating that the government's objective for the fiscal year 2021/2022 is to accumulate 696,441,872,667, up from 547,735,863,597 in the fiscal year 2020/2021.According to him, the ministry would make labour to develop small-scale.... Read more »

Posted on : Wednesday , 26th May 2021

Tripling Annual Cashew Output achievable for Tanzania

According to the Tanzanian Agricultural Research Institute (Tari), the country's goal of tripling cashew nut production to 1.0 million tonnes per year is feasible. Tari said the government's goal of making the country a leading global cashew nut producer was achievable because new seeds and cultivation methods were promising. Tari, which has produced 54 disease-resistant and high-yield seeds, claims that new cultivation areas have.... Read more »

Posted on : Tuesday , 25th May 2021