Market News Page No. 97| Africa Business News

Nakuru in Kenya becoming a promising energy hub with geothermal in key role

The county of Nakuru in Kenya has been positioning itself as a promising energy hub with various projects initiated by the national government of the country.Drilling for the Olkaria I Unit 6 project is about 19% complete, according to local county commissioner. The commission of the project is expected after 2021, while KenGen is still targeting an additional 720 MW of geothermal power generation capacity in the medium term.State-owned.... Read more »

Posted on : Monday , 7th September 2020

Chinese firm completes first rigging up for Ethiopia's 70-MW geothermal energy project

Chinese equipment and oil services company Kerui Petroleum stated that it has successfully lifted the derrick and substructure for the first 1500HP drilling rig at Ethiopia's Aluto-Langano Geothermal Energy Project.The accomplishment of the first rigging up marks a landmark in the 70-MW geothermal energy project, which is part of Ethiopian government's plans to enlarge geothermal energy generation in the upcoming few years, the Chinese firm.... Read more »

Posted on : Monday , 7th September 2020

Proton Holdings, the Malaysian Car Maker Enters Kenyan Market

In a welcome boost to Kenya’s industrialization and job formation pillar under the “Big Four” agenda, the carmaker released shipments totaling 30 units of CKD (Completely Knocked Down) kits.The vehicles will be massed by Simba Corporation (SimbaCorp), a diversified Kenyan conglomerate with a long history in the car sales and assembly industry. The consignment was flagged off by Kenya’s High Commissioner to Malaysia, Francis Ndegwa.... Read more »

Posted on : Monday , 7th September 2020

Ethiopia is the Mining Speculation Goal

Ethiopia's practically untapped, rich and massive mineral resources offer tremendous potential for exploration and growth. These include, but are not limited to, tantalum, potash, gemstone, gold, iron ore and other mining, energy and construction minerals. This incredible ability combined with the reform of government policies and legislation means that Ethiopia is now very much on the radar screen of foreign mining.... Read more »

Posted on : Thursday , 3rd September 2020

USD 42M Praise Mall in Mt. Kenya Area Breaks Ground

The building of Mt. Kenya region's tallest building has begun. The "Praise Mall" project for mixed-use urban growth covers a total area of 0.4 hectares of land along Meru-Embu-Nairobi Highway in Meru city, Meru County. Jesus House of Praise International church is designing the over USD 42 M project and Jianxi Jingtai Water Conservancy and Electric Power Development Ltd are carrying out the construction works. The scope of the work includes.... Read more »

Posted on : Wednesday , 2nd September 2020

Plans for construction of the Sinoma Cement Plant in Tanzania

Plans for construction of the planned Sinoma Cement Plant in Tanzania's city of Tanga are making good progress with the launch of the compensation exercise of around 94 Project Affected Persons (PAP) in an effort to pave the way for the actual construction works. Tanga regional commissioner, Martine Shigela, declared this milestone. The 94 PAP are residents of Amboni and Mtimbwani districts who decided to give up their land for the.... Read more »

Posted on : Wednesday , 2nd September 2020

Contribution of the Wood Industry to Kenya

In Kenya, the demand for furniture is increasing at 10 per cent per year, plywood mills consume 15 per cent of the industrial wood available for furniture and manufacture plywood, MDF, particleboard, blockboard and veneer. These mills are mainly sold to the formal industry and use pine and cypress as raw materials, with knots and wood structure limiting the visual quality of plywood. The industry produces approx. Kshs 4.5 billion.... Read more »

Posted on : Wednesday , 2nd September 2020

Cement consumption defies Covid curbs to hit 3.4m bags

Cement consumption in the first seven months defied effects of the corona virus pandemic pointing to stable activity in the construction sector despite the restrictions imposed in March to curb spread of the disease.Data from the Kenya National Bureau of Statistics (KNBS) show that consumption rose 4.5 percent to 3.59 million tonnes in the period from 3.44 million tonnes posted first seven months of last year.The sector remained relatively.... Read more »

Posted on : Wednesday , 2nd September 2020

DOB Equity Makes Further Investment In Tanzanian Dairy Processor

Tanga Fresh, a dairy processor in Tanzania has acquired additional investment from Dutch family-backed impact investor DOB Equity, to expand its production in the long-life milk market. DOB Equity investment will also allow the dairy processor to expand its overall production capacity, providing access to a fair and reliable market for dairy farmers in the Tanga region. Founded in 1996 in Northern coast of Tanzania, Tanga Fresh’s.... Read more »

Posted on : Tuesday , 1st September 2020

Kenya has Great Potential to Become East African Auto Industry Hub

The automotive industry is recognized as an important contributor to Kenya’s manufacturing pillar under the Big Four agenda, which is anchored in Vision 2030, Kenya’s long-term development blueprint in which industrialization and economic transformation are crucial goals. This backdrop highly controlled the development of the National Automotive Policy by the Industrialisation ministry in 2019. Not many are aware of the history of.... Read more »

Posted on : Friday , 28th August 2020

Ethiopia to begin its first ever PPP program by constructing solar projects soon

Ethiopia has completed preparations to begin the primary phase of public-private partnership (PPP) program by launching the development of 2 solar projects coming two months, Ministry of Finance revealed.In an exclusive interview with ENA, Ministry PPP Director-General Tilahun Tadesse stated the country initiated its first ever public-private partnership (PPP) program by approving 17 projects on the basis of detailed identifications of the.... Read more »

Posted on : Monday , 24th August 2020

Kenya: Marco Borero wraps up financing for Nyeri solar PV project

The Marco Borero Company has recently closed the financing for its solar photovoltaic project in Nyeri in central Kenya. The solar power plant that will be linked to the grid will have a capacity of 1.5 MWp.The Nyeri solar project is now arriving at the construction phase. Marco Borero Company lately completed its financing with the partaking of numerous financial institutions, together with the Renewable Energy Performance Platform (REPP), a.... Read more »

Posted on : Monday , 24th August 2020