Market News Page No. 75| Africa Business News

Kenya's Construction Sector Expected to Recover This Year

Nairobi - Kenya's construction sector is expected to recover this year on the back of the government's continued implementation of investor-friendly reforms as well as large-scale infrastructure projects aimed at boosting regional integration and economic diversification.This is according to a report by Deloitte which reveals that the sector's growth is expected to revamp to a growth of 6.3 percent this year.The sector contributed about 6.... Read more »

Posted on : Monday , 26th July 2021

Kenya to complete upgrade of roads by December 2021

James Macharia, Transport Cabinet Secretary has assured that the government will complete the construction of 408 kilometres of tarmac roads in Nairobi's informal and thickly population settlements by December 2021.Macharia who spoke after reviewing the construction of the new tarmac roads in Nairobi's informal slums said the project is now 40% complete with 104 kilometres fully tarmacked and will be entirely completed by December 2021.Macharia.... Read more »

Posted on : Thursday , 22nd July 2021

Kenya Aiming To Double Geothermal Capacity By 2030

When Kenya opened the Olkaria power plant 4 decades ago, it was seen more as a research project than a commercial venture. The facility is located in Hell’s Gate National Park, a barren zone of volcanic rock that is permeated by sulphurous gases and is mainly populated by warthogs and zebras. The untested and costly geothermal technology was experimental at best, with the 1st unit expected to power around 10,000 homes. Today, Olkaria generates.... Read more »

Posted on : Thursday , 22nd July 2021

Electricity Connection Between Ethiopia And Djibouti To Expand

The African Development Bank (AfDB) has approved 2 grants totaling USD 83.6m to boost cross-border trade in electricity between Ethiopia and Djibouti. The funds are made up of a USD 69.65 million grant to Ethiopia and a USD 13.93 million grant to Djibouti. Both the grants are sourced from the African Development Fund, which is the AfDB’s concessional financing window. The Ethiopia & Djibouti 2nd Power Interconnection project will.... Read more »

Posted on : Thursday , 22nd July 2021

East Africa: Djibouti, Ethiopia to Launch Second Power Link

Djibouti and Ethiopia have secured finance to build a second electricity transmission line after the two neighbours enjoyed the returns from the first project that linked their power grids. The first project has enabled Djibouti to import Ethiopia's hydropower-processed, renewable and cheap electricity. After, the two countries agreed to further develop the project, the African Development Bank (AfDB) has now approved two grant loans.... Read more »

Posted on : Wednesday , 21st July 2021

Kenya: EPRA Develops Mini-Grid Regulations to Scale up Nationwide Access to Electricity

The Energy and Petroleum Regulatory Authority through a statement said the process will assist in spurring investment in mini-grids in the country, to boost electrification in underserved areas distant from the main-grid. The authority said it will conduct a nationwide sensitization and consultative sessions before the next stages of validation. The 1st forum was held in Garissa town, and thereafter in Lodwar, Mombasa, and later in.... Read more »

Posted on : Monday , 19th July 2021

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