Market News Page No. 86| Africa Business News

East Africa's Energy Future Shines Bright - Investors Are Keeping a Close Watch

The eyes of international oil and gas investors are becoming increasingly fixed on Africa as an area of development, and on the East Africa region in particular – with good reason.“It’s no secret that the East African oil and gas sector has recently benefited from substantial FDI,” says Paul Sinclair, Vice President of Energy at Africa Oil Week (AOW). “These regional investments have reignited global appetite for East Africa, and.... Read more »

Posted on : Monday , 6th September 2021

Africa Needs a Clean and Just Energy Plan

Friends of the Earth Africa has launched 'A Just Recovery Renewable Energy Plan for Africa' which offers a practical and much-needed opportunity to change the trajectory of energy development, distribution, and access on the African continent. The report stresses the urgency to democratize energy systems, reduce the power of transnational corporations and enable peoples and communities to access sufficient energy to live a dignified life."It is.... Read more »

Posted on : Monday , 6th September 2021

$1.2 billion of active power projects in Rwanda

Rwanda has set 2024 as a target date to reach the goal of 100 percent access to power for its entire population. Consequently, the small nation has more than $1.2 billion of active power projects.Rwanda’s population will grow by 25 percent over the next decade to reach 16 million people. In order to provide access to the growing population and make up for the current shortage of power, the country has embarked on various power generation.... Read more »

Posted on : Monday , 6th September 2021

Zanzibar Domino Commercial Tower the largest hotel in East and Central Africa

Zanzibar has announced plans to construct Zanzibar Domino Commercial Tower, the largest hotel in East and Central Africa and also the second tallest skyscraper in Africa behind Iconic Tower in Egypt.A contract was inked between New York and Dubai-based architect xCassia and a joint venture of Tanzania's AICL Group and Edinburgh Crowland Management Ltd that will see the latter come up with architectural designs for the project.The project which.... Read more »

Posted on : Thursday , 2nd September 2021

Tanzania Is Going Solar With AFD Support

In the Kishapu District of Shinyanga Region, TANESCO will implement the 1st large scale PV Solar Power Plant of Tanzania. It will be the 1st and certainly not the last. According to the International Energy Agency, in Africa, solar PV is becoming the “new king” of electricity and is forecasted to be the fastest growing source of power generation in Africa by year 2040. Production which is based on solar has become one of the.... Read more »

Posted on : Wednesday , 1st September 2021

NTPC Gets Contracts To Help Set Up Solar Projects Abroad

India's strategy of showcasing its green energy credentials abroad has gained traction, with state-run NTPC Ltd securing a raft of project contracts under the aegis of the International Solar Alliance in Cuba, Niger and Malawi to help set up solar projects to meet their electricity demand, said 2 people aware of the development. NTPC has been awarded the project management consultancy (PMC) contract for setting up 900 MW solar projects in.... Read more »

Posted on : Friday , 3rd September 2021

Kurasini Industrial, Logistics Park Project Up For Grabs

The government has finally floated a tender calling for competent strategic investors to develop the Kurasini Industrial, Trade and Logistics Park project on a standard lease arrangement. "The authority now invites eligible local and international real estate developers or consortia to submit their expression of interest to develop the project," said Export Processing Zone Authority acting director general John Mnali in an advert seen by.... Read more »

Posted on : Friday , 3rd September 2021

Kenya's External Trade Hits KSh1.4 Trillion in H1 2021

Kenya's external trade value hit KSh1.4 trillion in H1 2021, a 24.3 per cent increase from KSh1.094 trillion in H1 2020. The rise in external trade is attributed to a rebound in global and macro-economic conditions as the world re-emerges from COVID-19 related disruptions. Imports into the country rose by 27.7 per cent to hit KSh991.5 billion, while exports rose by 16.3 per cent to hit KSh368.7 billion. Food and beverages accounted for.... Read more »

Posted on : Wednesday , 29th September 2021

Rwanda has launched a Rwf690 million project to manage single-use plastics.

In the next five years, the Private Sector Federation (PSF) plans to contribute Rwf690.9 million to the collection, transportation, disposal, and recycling of single-use plastics. As Rwanda commemorated World Environment Day, the "Sustainable Management of Single-Use Plastics Project" was inaugurated. The theme of the day was "Ecosystem Restoration." The new development is in accordance with Law N° 17/2019, which prohibits the.... Read more »

Posted on : Friday , 27th August 2021

Silafrica Forms Partnership with PETCO Ethiopia to Reduce Post-Consumer PET's Environmental Impact

Silafrica's collaboration with PETCO aims to reduce the environmental impact of post-consumer Polyethylene Terephthalate (PET) on Ethiopia's landscape. One of the most significant accomplishments of the collaboration is the demonstration that plastic packaging has no negative environmental impact. Getaneh Asfaw, Country CEO of Silafrica Ethiopia, says, "We are glad and thrilled to work with PETCO Ethiopia to assist us with our obligations.... Read more »

Posted on : Friday , 27th August 2021

KCSAP's partnership with Kajiado County benefits farmers with Modern Farming Equipment

The Kenya Climate Smart Agriculture Project (KCSAP), in collaboration with the Kajiado County government, has donated seedlings, farm machines, Sahiwal cattle, and Dorper sheep to farmers in Oleikaitoriori, Ildala Lekutuk ward to enable them to adopt contemporary farming practises. Improved manual hay bailers, fodder choppers, powered back pack weeders, and brush cutters are among the farm machines given. Farmers affiliated with 11.... Read more »

Posted on : Friday , 27th August 2021

Brewer Agri-Business Program Boosts Contract Farming in Tanzania

Serengeti Breweries Limited (SBL) has stated that its agri-business project, which includes over 400 local farmers spread over eight districts around the country, is committed to helping farmers' contract farming. Kilimanjaro, Arusha, Manyara, Singida, Dodoma, Shinyanga, Mwanza, and Mara were nominated by SBL Corporate Relations Director John Wanyancha. "Through the initiative, SBL supplies farmers with agricultural inputs such as free.... Read more »

Posted on : Friday , 27th August 2021