Market News Page No. 86| Africa Business News

23rd Buildexpo Kenya 2021 secures government endorsement

The Cabinet Secretary Hon'ble James W. Macharia, EGH, Ministry of Transport, Infrastructure, Housing and Urban Development has recognized the contributions of Expogroup Trade Fairs and has formally provided an endorsement of the 23rd Buildexpo Kenya 2021. The international exhibition is the longest-running annual trade event in the East African Region.The Trade Fairs have been positively contributing to the growth of the construction sector in.... Read more »

Posted on : Wednesday , 18th November 2020

The Development of The Loft Residences at Two Rivers starts in Kenya

The construction works of Loft Residences at the Two Rivers Development in Kenya have started following a groundbreaking ceremony by the project’s developer, Centum Real Estate Limited. The project will be carried out by Seyani Brothers & Co., the leading general construction firm in the East African region. Speaking at the groundbreaking ceremony, Samuel Kariuki, Managing Director of Centum Real Estate, said, Seyani Brothers is a.... Read more »

Posted on : Wednesday , 18th November 2020

World Bank Agrees $150m for Modern Energy in Rwanda

The World Bank board of directors approved $150 million in financing to improve access to modern energy for enterprises, households, and public institutions in Rwanda and to improve the efficiency of electricity services. From the total amount of $150 million, $75 million will be provided as grant funding and $75 will be provided as a loan. Enhancing the achievement of previous World Bank support to the energy sector, the.... Read more »

Posted on : Wednesday , 18th November 2020

New Collaboration to Improve Energy Access in Ethiopia

The Rocky Mountain Institute (RMI) is collaborating with IKEA Foundation to improve access to energy in rural communities in Ethiopia. RMI will leverage a $1 million grant from IKEA Foundation to grant rural communities with access to renewable energy. The institute will also leverage the grant to assure project beneficiaries create new opportunities for income generation by using energy effectively. The project will mainly target.... Read more »

Posted on : Wednesday , 18th November 2020

Tullow Sets Sights on Renewables to Power Delayed Kenya Oil Project

London-listed Tullow Oil is considering plans to provide back-up power from offshore wind and geothermal assets in Kenya to support its challenging South Lokichar oil project in the East African region.The Anglo-Irish operator, along with its partners Total and Africa Crude, is revisiting the original South Lokichar exploration scheme to minimise costs and intends to send a fresh development plan to the Government of Kenya by the end of next.... Read more »

Posted on : Monday , 16th November 2020

African Countries Agree to Strengthen Cooperation on Geothermal Production

More than 500 experts, governments, civil society, academia and private sector representatives from Africa and other regions have agreed on the agenda for regional cooperation and accelerated geothermal growth in Africa, as concluded by the Eighth African Rift Geothermal Conference (ARGEO C8) on 6 November.Participants acknowledged the need for capacity development for geothermal practitioners to ensure the successful development of these.... Read more »

Posted on : Monday , 16th November 2020

d.Light Solar Starts New Outlet in Nairobi: Kenya

Sun Solutions provider d.light Solar has developed a new outlet in Nairobi, Kenya’s capital, with the goal of growing customer response time during the coronavirus pandemic era. As per the firm, the 500-capacity centre will host its customer service team to boost customer experience and ensure business continuity amid the health crisis.“It is extremely important for us and I believe to the largest extent the entire corporate world must.... Read more »

Posted on : Monday , 2nd November 2020

Pharmaceutical Industry to Create Opportunities for Manufacturers and Exporters in Kenya

The pharmaceutical industry in Kenya is growing at a speedy pace and offers great opportunities for manufacturers and exporters to establish their products and services in the lucrative market for pharmaceuticals in East Africa. Kenya is presently the largest producer of pharmaceutical products in the Common Market for Southern and Eastern Africa (COMESA) region, supplying more than 50% of the regions’ market. Kenya’s prescription.... Read more »

Posted on : Monday , 2nd November 2020

Sustainable Urban Lighting in Eastern Africa Meets Demand

Responding to demand for sustainable urban lighting in Eastern Africa Population growth, economic development , infrastructure expansion and land use reform are all main factors contributing to the expansion of cities around the world. Approximately 68% of the global population is expected to live in cities by 2050, with the overwhelming majority of urban population growth taking place in Africa. Energy is one of the primary.... Read more »

Posted on : Monday , 2nd November 2020

Turkey to promote economic cooperation with Kenya

Turkey aims to diversify and elevate its economic cooperation with East Africa’s largest economy, Kenya, to a new level based on a “win-win” situation, a Turkish diplomat said this week. “Turkey regards Kenya as a key and robust player in the East and Horn of Africa region and an important partner in Africa,” Ahmet Cemil Miroglu, Turkey’s ambassador to Kenya, told Anadolu Agency in an interview Tuesday. Miroglu.... Read more »

Posted on : Friday , 30th October 2020

Over U.S.$1.1 Billion of Investment by Chinese Companies in Ethiopia

With nearly 1,564 projects either in operation or under implementation over the past two decades, Chinese companies are the top players in the investment landscape in Ethiopia, both in terms of the number of projects and in terms of financial resources, an official at the Ethiopian Investment Commission (EIC) said. Speaking exclusively to Xinhua, Mekonen Hailu, Communications Director at the EIC, said Chinese firms invest in various.... Read more »

Posted on : Friday , 30th October 2020

Ethiopia’s Export Revenue Increased By U.S. $115.6 Million

Exports in the first quarter of the fiscal year 2020 compared to in the previous fiscal year, export revenue increased by 115.6 million USD or 16 percent and a total of US $ 838.6 million was earned, according to the Ministry of Trade and Industry (MoTI).The industrial sector earned 95 percent and 94 million USD, while agricultural products earned 73 percent and 541 USD .The mining sector has achieved 300 percent of the plan and 205 million USD.... Read more »

Posted on : Friday , 30th October 2020