Market News Page No. 10| Africa Business News

Tanzania's rating improves as a result of the government's efforts to improve the investment climate.

Earlier in October, Moody's Investors Service upgraded the Government of Tanzania's outlook from stable to positive and reaffirmed the B2 long-term issuer ratings in both foreign and domestic currencies. According to the rating agency's statement, Tanzania's political risks have decreased as a result of President Samia Suluhu Hassan's administration's new strategy for promoting economic growth and engagement with the international.... Read more »

Posted on : Wednesday , 26th October 2022

TANZANIA: Ten Dams will Collect Rainwater to Serve the Cities of Dodoma and Singida.

TANZANIA: Ten Dams will Collect Rainwater to Serve the Cities of Dodoma and Singida.Ten dams are being built in Tanzania's Dodoma and Singida areas, according to Jumaa Aweso, minister of water and irrigation. In a climate-changed environment, future infrastructure will gather rainwater to provide families, farmers, and herders.A new initiative will undoubtedly help the residents of Dodoma and Singida with their water demands. It entails the.... Read more »

Posted on : Friday , 21st October 2022

RWANDA: Kigali will Construct a €8 Million Sewage Sludge Treatment Plant.

RWANDA: Kigali will Construct a €8 Million Sewage Sludge Treatment Plant.The Lake Victoria Basin Commission and the Water and Sanitation Company (WASAC) of Rwanda have signed a contract (LVBC). The partnership is focused on constructing a sewage sludge treatment facility to suit Kigali's sanitary demands.A sewage sludge treatment facility will shortly be built in Kigali, the capital of Rwanda. An agreement recently signed by the Rwandan Water.... Read more »

Posted on : Friday , 21st October 2022

Ethiopia Exports USD 13 Million Worth Electricity to Djibouti, Sudan in Two Months

The Ethiopian Electric Power (EEP) announced on 10th October that Ethiopia has earned more than USD 13 million from exporting electricity to neighbouring Djibouti and Sudan. According to Menilik Getahun, the head of sales and customer management office under the marketing and business development department of EEP, the amount generated was out of the planned USD 18.55 million by supplying more than 349.56 million kWh of electricity to.... Read more »

Posted on : Monday , 17th October 2022

More Geothermal Power Plants Planned For Ethiopia

A United Kingdom company specialising in onshore deep drilling has secured financing to construct 2 geothermal power stations in Ethiopia. The projects at Tulu Moye and Hawassa will be Ethiopia’s 1st independent power stations and will run off geothermal energy harnessed by drilling deep into the volcanic rocks below. The Tulu Moye geothermal prospect site is situated in the main Ethiopia Rift, northwest of Asella while Hawassa is a.... Read more »

Posted on : Monday , 17th October 2022

Infraco and Equatorial to Invest $1.7m in Solar Mini-Grids in Rwanda and DRC

A new alliance has been formed to electrify rural areas in Rwanda and the Democratic Republic of Congo (DRC). It is an initiative of InfraCo Africa, an investment company of the Private Infrastructure Development Group, and electricity provider Equatorial Power. The 2 companies plan to invest USD 1.7 million to deploy a portfolio of solar mini-grids in Rwanda and the DRC. In these 2 neighbouring countries, mini-grids with a capacity of.... Read more »

Posted on : Thursday , 13th October 2022

Trina Solar Brings Next-Generation Photovoltaic Technology to Kenya

Trina Solar Co., Ltd., a world leading PV and smart energy total solution provider, has announced that it will launch a new distribution facility in Kenya. The new facility located in Nairobi will act as a regional hub for the East Africa region and will serve all neighbouring countries. The new facility aims to achieve faster delivery times to ensure reaching customers instantly and efficiently. Antonio Jimenez, Managing Director and Vice.... Read more »

Posted on : Thursday , 13th October 2022

Egyptian investors interested in the Kenyan manufacturing sector

According to a government official, the Egyptian business community is eager to invest in Kenya's manufacturing sector to help the east African country's industrialization agenda. Egyptian Ambassador to Kenya Khaled el Abyad stated in Nairobi, Kenya's capital, that bilateral investment and trade partnerships must go beyond traditional agricultural products. "Egyptian companies are exploring opportunities such as joint ventures,.... Read more »

Posted on : Wednesday , 12th October 2022

Tanzania, Qatar End Double Taxation Inking Trade and Investment Pact

Tanzania and Qatar have signed a MoU to end double taxation and strengthen trade and investment ties with the United Arab Emirates (UAE). A media statement issued by the State House says the objective of the MoU is to 'enhance trade and investment cooperation and partnership between business communities from Tanzania and Qatar.' To strengthen trade and investment among the countries, the statement specifies several areas of priority,.... Read more »

Posted on : Wednesday , 12th October 2022

Ethiopia Eyes Attracting Turkish, Dubai Business to Free Zone

An official tour to Turkey and Dubai was made by a delegation that included representatives from several institutions and was led by the Deputy CEO of Ethiopia’s Industrial Park Development Corporation (IPDC), Addisu Mamo, and the Head of Transformation and CEO, Fitsum Ketema, according to the information from IPDC. “The teams hosted investment promotion seminars in the UAE and Turkey’s Istanbul Free Trade Zone (DESBAS) to discuss.... Read more »

Posted on : Wednesday , 12th October 2022

Egypt remains dedicated to providing healthcare to Tanzania.

Egypt has reaffirmed its commitment to helping Tanzania raise the standard of healthcare services offered there. Mohamed Gaber Abulwafa, the Egyptian ambassador to Tanzania, reaffirmed the promise while presenting medical supplies to the Medical Stores Department (MSD) office in the Dar es Salaam region. He stated that through the Egyptian Agency of Partnership for Development (EAPD), his nation will continue to support the Tanzanian.... Read more »

Posted on : Tuesday , 11th October 2022

Kenya Setting Up Standards For Biogas Packaging

Kenya is setting up standards that will pave the way for the commercialisation of biogas, a move that will offer cheap energy for consumers in the wake of the high cost of LPG and generate revenue for producers, according to Business Daily Africa. Kenya Bureau of Standards (KBS) said it is working on the norms for the packaging of biogas, which is the only thing that has been missing in the commercialisation of the methane gas made from.... Read more »

Posted on : Tuesday , 11th October 2022