Market News Page No. 79| Africa Business News

Kenya's construction sector is expected to grow

Kenya's construction industry is currently booming. The Kenyan government has invested heavily in the construction sector in order to upgrade infrastructure such as road networks while also providing new residences for locals (who are supported by banks in obtaining loans to buy apartments/cars). The real estate and construction industries, according to the Kenya National Bureau of Statistics, have been some of the main drivers of economic.... Read more »

Posted on : Tuesday , 23rd March 2021

Dar Port Extends the Types of Cargo it can Handle

The port of Dar es Salaam has declared that the categories of cargo cleared would be extended to include fertilizer, industrial and domestic sugar, edible or cooking oil, wheat oil products, coal, liquefied petroleum gas, chemicals, and any liquid-related products.Tanzania Shipping Agencies Corporation informed stakeholders that the organization would begin implementing its mandate of clearing additional goods on March 15. “In light of.... Read more »

Posted on : Monday , 22nd March 2021

Ethiopia lays foundation stone for Lemmi Industrial Complex construction

The government of Ethiopia led by President Sahlework Zewde on Thursday 4th March 2021 laid a foundation stone for the construction of Lemmi Industrial Complex project in Ensaro district of Lemi town in the central region of the East African country.The facility will be built on a 270 hectares piece of land by a joint venture between East African Holding, a leading industrial group in Ethiopia that has endorsed a prominent role in the.... Read more »

Posted on : Wednesday , 17th March 2021

Kenya: Norfund Invests $15 Million in BLK1 for Electrification via Solar Kits

Norfund, a Norwegian government investment company joins the Brighter Life Kenya 1 Limited (BLK1) scheme with a US$ 15 million investment. Norfund hopes to provide 1.9 million Kenyans with access to electricity through solar home systems. Brighter Life Kenya 1 Limited is expanding. The scheme launched in the year 2020 to facilitate the financing of solar home systems in local currency (shilling) in Kenya is registering a US$15 million.... Read more »

Posted on : Monday , 15th March 2021

Ethiopia to Finance and Build $200m Agro-Industrial Park in Oromia

The Oromia Industrial Parks Development Corporation of Ethiopia has signed an agreement worth around US$ 200 million to build a 250ha agricultural processing park in the western highlands province of Oromia. The agreement was signed by the head of the Ethiopian Industrial Parks Development Corporation Mr Sisay Gemechu, and the head of the Walabu Construction Share Company Mr Dereje Ermias, a contractor based in Oromia. The project is.... Read more »

Posted on : Monday , 15th March 2021

Rwanda Raises 2021-22 Budget to $ 3.4 Billion

Rwanda has announced plans to increase its 2021-2022 budget by US$ 220.8 million from its initial US$ 3.2 billion, hitting US$ 3.4 billion. This comes even as the government battles disruptions from the global COVID-19 pandemic and seeks to revive the economy. The budget, primarily funded by domestic revenues projected to increase from US$ 1.6 billion to US$ 1.7 billion, will majorly spread across the education sector, followed by the.... Read more »

Posted on : Monday , 15th March 2021

Kenyan Utility Seeks Proposals for PV Plant at Water Treatment Site

Kenyan water utility Nyahururu Water and Sanitation Company (Nyahuwasco) has kicked-off a tender for the construction of a solar power plant at 1 of its water treatment facilities. The company operates in the Laikipia West sub county of Laikipia County, in central Kenya, and is fully owned by the County Government of Laikipia. The selected developers will be responsible for designing, financing, and constructing the solar plant, as.... Read more »

Posted on : Friday , 12th March 2021

Djibouti is launching its National Geothermal Energy Engineering Company

Djibouti has reached another milestone in its geothermal energy growth with the creation of its own national geothermal energy engineering business.Dubbed the Red Sea Drilling Company (RSDC), the new venture will not only work to expand the country's geothermal energy reserves, but will also have a training and capacity building programme to be established by a number of engineers and technicians in the coming years, which is important for the.... Read more »

Posted on : Friday , 12th March 2021

Simba Corp Commences Sale of Locally Assembled Proton Saga Saloon Car

The CEO of the company, Dinesh Kotecha, said, "We are looking forward to the Proton Saga and indeed the Proton brand storming the Kenyan market because we believe that this is a solution that our customers have been waiting for and finally delivered."The Proton Saga is manufactured locally at the Associated Vehicle Assemblers plant in Mombasa and comes with a 5 year warranty of 150,000KM.Kotecha said the firm had signed a number of banks to make.... Read more »

Posted on : Thursday , 11th March 2021

Kengen Wins Contract to Drill Three Geothermal Wells in Djibouti

The company has signed a USD 6 million contract with Office Djiboutien De Development De l’energie Geothermique (Djiboutian Office of Geothermal Energy Development). The ceremony, in Galla Le Koma, Djibouti, was attended by Kenya's Energy Cabinet Secretary Charles Keter and KenGen CEO & Managing Director Rebecca Miano. Speaking during the event, Charles Keter pointed out African nations, shared the common aspiration of delivering.... Read more »

Posted on : Thursday , 13th May 2021

Tanzania: Wonders of $32m Songwe Project

Songwe Region has started Knocking into its abundant economic potentials with the on-going implementation of the Songwe Geothermal Power and Direct Use Project. The USD 32-million geothermal power project at Majimoto Village in Mbozi District is expected to generate between 5MW and 38MW when completed in the year 2023. Before the power generation starts in the year 2023, the Tanzania Geothermal Development Corporation has introduced.... Read more »

Posted on : Wednesday , 10th March 2021

PET recycling being promoted by Silafrica in collaboration with the PETCO board and the Tanzanian government

A PET preform is a test tube-shaped piece of plastic that is produced by a process called injection moulding, using a plastic called PET (Polyethylene Terephthalate) that produces liquids and food containers. The Group, with its presence in Tanzania, Kenya, Uganda and Ethiopia, is known for setting benchmarks in the manufacturing sector with high quality standards in terms of customer satisfaction and the adoption of top-of-the-range.... Read more »

Posted on : Friday , 5th March 2021