Market News Page No. 80| Africa Business News

EAST AFRICA: Starsight Enters the Solar Market for C&I Customers

Starsight Energy is strengthening its position in Africa. The solar energy provider has for long had its eye on the East African market. The Lagos based company now has the means to fulfil its ambitions by acquiring a 50 per cent stake in Premier Solar Group, a company that supplies solar energy to businesses in Kenya. The 2 partners have decided to launch Starsight Premier Energy Group, which will provide electricity to commercial and.... Read more »

Posted on : Wednesday , 19th May 2021

KENYA: GDC Calls for Tenders for Direct Use of Geothermal Steam

The Kenyan state-owned Geothermal Development Company has launched a call for expressions of interest for the direct use of geothermal steam at the Menengai site in the Rift Valley in western Kenya. Interested investors have until May 24th, 2021 to apply. Geothermal Development Company is on its way to diversify the use of geothermal steam in Kenya’s Rift Valley. Geothermal Development Company has just launched a tender to investors for.... Read more »

Posted on : Wednesday , 19th May 2021

MoU signed for construction of road linking Ethiopia to Berbera in Somaliland

The government of Ethiopia through the Ministry of Transport and Dubai Ports (DP) World, a leading global provider of end-to-end logistics solutions, have signed a Memorandum of Understanding (MoU) that would see the construction of a road linking Ethiopia to Berbera in Somaliland. A road infrastructure that will connect Berbera port to Wajjale, a city on the border of Somaliland and Ethiopia is already under construction and is expected to.... Read more »

Posted on : Wednesday , 19th May 2021

Kenya And Tanzania Have Resurrected A $1.1 Billion Gas Export Pipeline Scheme

Kenya and Tanzania have signed a deal in Nairobi that could resurrect plans to build a new pipeline to transport gas from Dar es Salaam to Mombasa.Tanzanian President Samia Suluhu Hassan and her Kenyan counterpart Uhuru Kenyatta signed a tentative agreement covering the transport of gas from Tanzania for use in power generation and, possibly, cooking and heating, during their state visit to Kenya last week.According to local sources, the.... Read more »

Posted on : Tuesday , 18th May 2021

Affordable homes budget doubles to Sh8bn in Uhuru’s last year in office

Budget estimates tabled in Parliament show that Sh8 billion has been allocated for the affordable units in the year starting July. Treasury has doubled the allocation for construction of affordable houses as the State races against time to deliver the low-cost units in President Uhuru Kenyatta’s last year in office. Budget estimates tabled in Parliament show that Sh8 billion has been allocated for the affordable units in the year.... Read more »

Posted on : Tuesday , 11th May 2021

Lighting up Rural Kenya: Energy Agency to Double County Investments

The Rural and Renewable Energy Corporation (Rerec) is working with county governments to expand electricity coverage in rural areas throughout the country.The company has stated that it would match county government expenditures in lighting their respective areas.Rerec, tasked with expanding electricity coverage in rural Kenya and increasing renewable energy use, announced that its ‘shilling for a shilling' Matching Fund Program would double.... Read more »

Posted on : Monday , 10th May 2021

Kenya: Mwatate Traders to Benefit From Sh50 Million Modern Market

Traders in Mwatate town, Taita Taveta are set to benefit from a Sh 50 million market under construction in partnership between the county government and the World Bank. The project implemented through the Kenya Urban Support Programme is set to be completed before the end of this financial year 2021 to accommodate over 200 small-scale traders in the area. Kenya Urban Support Programme is a 5 year World Bank programme targeting 45.... Read more »

Posted on : Friday , 7th May 2021

Hope For Kenya-US Trade Deal As Talks Resume

Kenya and the United States have resumed talks on the Free Trade Agreement which was ongoing since last year. Betty Maina, Kenya's Trade Cabinet Secretary and Katherine Tai, US Trade representative held talks that focussed on the importance of the trade relations between Kenya and Africa as important partners to the United States. The bilateral trade talks paused in the wake of American presidential elections last November 2020. A.... Read more »

Posted on : Friday , 7th May 2021

META Electric Starts Leasing BYD T3 Electric Vans In Kenya

Another epic leapfrog occurrence may be on the horizon for Africa. We've seen it before in sectors like telecommunications and fintech. After being exposed to the world of cell phones and, later, mobile money, the underserved and unbanked population jumped right in. They actually bypassed the fixed-line era and brick-and-mortar banking when better technologies and facilities became available, long before conventional telecoms and banking.... Read more »

Posted on : Wednesday , 5th May 2021

Making bricks out of unwanted plastic

Hellena Sailas, a 24-year-old micro, small, and medium-sized entrepreneur (MSME) from Tanzania, founded Arena Recycling Industry to produce building materials from plastic waste, such as eco-bricks, paving blocks, and tiles, in an attempt to save the world from unnecessary plastic. The materials produced by her company are used to build affordable homes, toilets, garden walls and other structures, mainly in rural areas. Hellena, who.... Read more »

Posted on : Tuesday , 4th May 2021

Tanzania President Samia Suluhu set to visit Kenya

Tanzanian President Samia Suluhu Hassan is scheduled to arrive in Kenya for a two-day State Visit on Tuesday, May 4th. On the same day, Kenyan President Uhuru Kenyatta will welcome her to State House in Nairobi. During her visit, Samia will address the joint houses of Kenyan Parliament, according to Tanzanian government spokesperson Gerson Msigwa. Other details about Samia's visit will be published in due course, according to.... Read more »

Posted on : Tuesday , 4th May 2021

Tanzania Economy to Grow by 6% in 2021, Central Bank Say

In its latest Monetary Policy Statement, Mid-Year Review, of February 2021 the Bank of Tanzania projects that the country’s real GDP will grow by 5.5 % in 2020 and by 6.0 % in 2021. The positive outlook is driven by expected value added in agriculture due to enough rains, public investment, increase in export earnings from mining contributed by high world market prices of gold, and private sector investment, coupled with supportive.... Read more »

Posted on : Monday , 3rd May 2021