Market News Page No. 81| Africa Business News | Afrotrade

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Google to invest $1 billion in Africa over the next five years

Google announced a $1 billion investment over the next five years to enable faster and more affordable internet access and to boost entrepreneurship in Africa. According to the World Bank, fewer than one-third of the continent's 1.3 billion inhabitants are linked to broadband. However, the continent, where nearly half of the population is under the age of 18, is a potential market. According to Sundar Pichai, CEO of Google and.... Read more »

Posted on : Tuesday , 26th October 2021

Mwache Multipurpose Dam construction to begin in November

The construction of the Mwache Multipurpose Dam, whose contract was signed in August 2018 and delayed for several years as the constructor awaited the government to finalize the land compensation exercise is set to begin next month (November 2021).This was announced by Joseph Irungu, the Permanent Secretary (PS) for Water in the Ministry of Water, Sanitation, and Irrigation adding that the national government is working relentlessly to see into.... Read more »

Posted on : Tuesday , 26th October 2021

NMB Tanzania launches mining network platform to boost industry

This is NMB Bank's third mining-related platform. Mining clients of NMB Bank Plc in Arusha, Northern Zone now have their own networking platform. The platform is part of a larger aim by the lender to increase lending to the mining sector from Sh63 billion to Sh200 billion by 2025. The platform, known as the 'NMB Northern Zone Mining Club,' was introduced in Arusha over the weekend and aims to empower participants in the industry.... Read more »

Posted on : Tuesday , 26th October 2021

Kenya's first Sh1.5 trillion high-speed highway

The Nairobi-Mombasa Expressway project to be executed by Bechtel Corp has revised it's plan to build the motorway and recoup its costs through tolls. The American contractor contracted to build the 473-kilometer expressway has estimated that the Public Private Partnership (PPP) model will cost Sh1.5 trillion — five times the budget. According to the Parliamentary Budget Office (PBO), Bechtel now wants the government to directly fund the.... Read more »

Posted on : Tuesday , 26th October 2021

TNBC announces ambitions to establish wood-product manufacturing plants.

Dr. Ezekiel Mwakalukwa, Chairman of TNBC's Forestry Working Group, stated in Dar es Salaam. Ben Mfungo Sulus, co-chair of the working group, and Dr. Godwill Wanga, executive secretary of the TNBC, are with him. The Tanzania National Business Council (TNBC) is launching a program to encourage the creation of Engineered Wood Products manufacturing units (EWPs). TNBC has developed a particular strategy to encourage the creation of EWPs in.... Read more »

Posted on : Tuesday , 26th October 2021

Tanzanian agro areas to receive a Sh575 billion investment

Tanzania's agro-industrial education and agro-management skills will receive a $250 million (Sh575 billion) investment from Aie Holding Ltd. The company, which was founded in Tanzania last year, plans to invest in agricultural education, logistics, a vegetable oil plant, a feed mill, packing and storage, solar power, a cattle farm, a poultry farm, a fish farm, field crops, tropical fruit concentrate, solar power, and wastewater treatment,.... Read more »

Posted on : Monday , 25th October 2021

Kenya: Sanergy receives $2.5 million for fertiliser and protein production.

A new investor is interested in Sanergy. The U.S. Company is promoting an innovative approach to the circular economy in developing countries, including Kenya. The Japan International Cooperation Agency (Jica) is investing $2.5 million in Sanergy’s capital. This equity investment will enable Sanergy to provide more fertilizer for agriculture and insect protein for animal feed. In Kenya, Sanergy already has a faecal sludge treatment plant.... Read more »

Posted on : Monday , 25th October 2021

Australian firms eye Kenyan healthcare industry

As demand for medical services grows as a result of the Covid-19 pandemic, Kenya's healthcare system is drawing investment from Australia. According to Luke Williams, Australia's High Commissioner to Kenya, the two nations are discussing collaboration in a variety of sectors, including medical staff skill development, universal healthcare, including cheap healthcare insurance, and research. "Australian healthcare companies were.... Read more »

Posted on : Friday , 22nd October 2021

USAID is launching 13 new health projects in Kenya

The United States is following through on its promise to guarantee that Kenyans drive development. The United States Agency for International Development (USAID) is establishing 13 new health initiatives in Kenya that will be executed by Kenyan-owned, Kenyan-led, or Kenyan-managed enterprises. More than 90% of USAID financing for HIV treatment delivery in Kenya comes from the President's Emergency Plan for AIDS Relief (PEPFAR). “The US.... Read more »

Posted on : Friday , 22nd October 2021

Kenya aims to double domestic car assembly by 2025.

Kenya is relying on its national automotive strategy to support the sector, with plans to increase output over the next four years and reduce reliance on used imported automobiles.The strategy, which was proposed in 2019 and was approved by the Cabinet, aims to increase the number of cars made domestically while also creating more employment in vehicle assembly.According to Industrialization Trade and Enterprise Cabinet Secretary Betty Maina,.... Read more »

Posted on : Friday , 22nd October 2021

Kenya & Barbados Sign Bilateral Trade Agreements

Kenya and Barbados have signed 3 key bilateral agreements for cooperation in aviation, environmental conservation, trade and investment. President Uhuru Kenyatta and Prime Minister Mia Amor Mottley witnessed the signing of an air services agreement, a MoU on the development of the national botanical garden of Barbados, and another one on the establishment of a Joint Committee on Trade and Investment in Bridgetown, Barbados. President.... Read more »

Posted on : Friday , 22nd October 2021

PCK Signs A Deal With Swift Lab- A Kenyan Drone Firm

Under the 3-year agreement, Swift Lab Limited, a Kenyan cargo drone company will manufacture and operate drones that can travel up to 70km and carry a payload of up to 4kg. “We want to invest in the production of drones, it is not only our obligation as government to invest in Kenyan technology, but we are also keen on clawing back our market position as the courier and logistics services provider of choice,” said Dan Kagwe, the CEO and.... Read more »

Posted on : Friday , 22nd October 2021

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