Market News Page No. 9| Africa Business News

US-Kenya Nuclear Energy Agreement Boosts Kenya's Energy Infrastructure Plans

Kenya and the United States have agreed to sign a Memorandum of Understanding on nuclear energy cooperation during a recent conference in Vienna in September this year, as Kenya plans to construct its first nuclear power plant. The MoU intends to strengthen collaboration in nuclear policy, research and regulation in energy, health and agriculture, as shown by a meeting of both countries nuclear regulators in Nairobi.Kenya plans to construct its.... Read more »

Posted on : Monday , 9th September 2024

Lake Victoria Gold Announces Renewal and Transfer of Imwelo Mining License to Tanzanian Mining Commission

The Tanzanian Mining Commission has accepted the necessary paperwork for the Imwelo Mining License's ten-year renewal and for LVG's acquisition of the mining license. This is with great pleasure that Lake Victoria Gold Company announces this. Updated Mining, Environmental, and Closure Plans are submitted with this application, together with the required guarantees to start construction within 90 days and the license renewal fee. With the.... Read more »

Posted on : Monday , 9th September 2024

Isuzu East Africa is considering setting up a vehicle assembly plant in Tanzania

The Japanese heavy commercial vehicle giant Isuzu Motor may soon open an assembly factory in the nation if the current demand is maintained. This would be in addition to the ongoing East African Community initiative to support the automotive sector in the area. According to Sandra Njagi, Head of Corporate Planning and Strategy at Isuzu East Africa, Tanzania's automotive industry produces roughly 95,000 vehicles a year, including cars, light.... Read more »

Posted on : Friday , 6th September 2024

Kenya and China Sign an Agreement to Enhance Their Collaboration in the Renewable Energy Sector

The China-Africa Renewable Energy Partnership is a ground-breaking program that was introduced in Nairobi, the capital of Kenya, with the goal of revolutionizing energy availability throughout the continent. By utilizing renewable energy sources, our collaboration aims to improve energy security and promote economic growth. ”Energy is the golden threat; we cannot grow an economy without energy, which is essential to addressing poverty and.... Read more »

Posted on : Friday , 6th September 2024

Digital Realty Company iColo Expands Renewable Energy Initiatives with Solar Panel Installation in Kenya

The Digital Realty Company, iColo, has announced that it has installed solar panels at its facilities in Kenya, marking a significant extension of its renewable energy activities. By doing this, the connectivity providers at iColo's data centers may improve their green credentials. Over 650 kW of additional solar arrays have been deployed and successfully commissioned by the company across its two data center locations in Mombasa and.... Read more »

Posted on : Friday , 6th September 2024

Strategic Funding Of Sh2.5 Billion Is Secured By Kim-Fay For Expansion In East Africa

In order to grow its business in East Africa, Kim-Fay, a producer and distributor of feminine hygiene, baby care, and home goods, has obtained Sh2.5 billion in debt financing from I&M Bank and the Norwegian Investment Fund for Developing Countries (Norfund). By 2025, a new recycled paper production facility in Tatu City is anticipated to be operational thanks to the funding. This facility will concentrate on offering low-income market.... Read more »

Posted on : Wednesday , 4th September 2024

First Investment Made By Pepea Fund In Gaea Foods Kenya

The Pepea Fund has provided an undisclosed sum of venture debt funding to Gaea Foods, a potato-processing company in Kenya, in order to help small businesses expand their supply networks and grow. The Pepea Fund was established in 2023 to help SMEs and early-stage companies obtain funding for growth and the development of female entrepreneurs. It is administered by Goodwell Investments on behalf of Oxfam Novib. Gaea Foods.... Read more »

Posted on : Wednesday , 4th September 2024

Regional Climate-resilient Water Investment Program Development is started by SADC

The SADC secretariat has launched the SADC Regional Climate Resilient Water Investment Programme (SADC-AIP), a regional initiative to support climate resilience and water security in the region, ahead of the Summit of Heads of State of the Southern African Development Community (SADC) on August 17 in Harare, Zimbabwe. Tanzania, Zambia, Angola, Botswana, Eswatini, Lesotho, Malawi, Mauritius, Mozambique, Namibia, Seychelles, South.... Read more »

Posted on : Wednesday , 4th September 2024

Tanzania Boosts Natural Gas Production Significantly

The Tanzania Petroleum Development Corporation (TPDC) is set to boost natural gas production by 80 million cubic feet (cf) over the next year in response to rising demand. This increase is driven by the growing shift of vehicles from petrol to Compressed Natural Gas (CNG) and the expansion of industrial use of natural gas. Additionally, neighboring countries are expected to seek more of this resource. TPDC will launch production at the.... Read more »

Posted on : Wednesday , 4th September 2024

The Government of Kenya Plans to Build a Nuclear Power Plant By 2034

A government minister stated that Kenya intends to construct its first nuclear power plant by 2034 as the nation gets ready to host a nuclear energy summit between the United States and Africa. According to safety and environmental issues, the facility, which is planned to be built on the Indian Ocean coast, has already sparked opposition from campaigners and locals. In a statement from his office, Prime Cabinet Secretary Musalia Mudavadi.... Read more »

Posted on : Thursday , 29th August 2024

The Ethiopian Electricity Export Project will Begin Exporting Electricity to Tanzania in September

Ethiopia's planned electricity exports to Tanzania, which will likely start next month, have the potential to revolutionize the energy industry. On August 23, 2024, Engineer Ashebir Balcha, CEO of Ethiopian Electric Power, made a widely described announcement stating that the first power transmission will start by mid-September. This event, which was carefully planned for, is expected to represent a major advancement in Ethiopia's energy policy..... Read more »

Posted on : Thursday , 29th August 2024

The Epson Liquid Launch Project Will Aid African Schools By Enhancing Education Through Technology

The international technology company Epson has established a school donation initiative that will provide printers, projectors and visualisers to African schools. The organisation and network supplier Liquid Intelligent Technologies have partnered to embark on this journey. This program is a component of Epson's larger effort to provide schools and hospitals in eight Middle Eastern and African (MEA) nations with over 800 EcoTank.... Read more »

Posted on : Thursday , 22nd August 2024