Market News Page No. 102| Africa Business News | Afrotrade

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Tanzania set to lead in bloc power production

Tanzania in the next 3 years will become the prominent power producer and supplier in the East African region following the fifth phase government bold move to implement the Julius Nyerere Hydropower project along Rufiji River in the Coast Region.The mega flagship development power project which is financed 100 per cent by the government at a cost of TSh 6.55 trillion, commenced in June last year and is set for completion in the next two.... Read more »

Posted on : Wednesday , 5th August 2020

Rwanda BRD, World Bank commence fundraising for Ignite Power

The Development Bank of Rwanda (BRD), the World Bank, and the Swedish International Development Agency (SIDA) have broadcasted a strategic fund raising and partnership to raise capital for Ignite Power.Ignite Power is a Rwandan renewable energy firm with investment in solar energy. The firm also has presence in other African countries.The new agreement is aimed at raising funds to boost the firm's capacity to provide solar solutions at the most.... Read more »

Posted on : Wednesday , 5th August 2020

Kisumu solar power plant (40 MWp) to be operational by December 2023

Kisumu solar power plant in Kenya is said to be commissioned by December 2023. This information comes from Valens Partners Inc, a financial company based in Toronto, Canada and co-developer of the Kisumu One Solar Limited (KSOL) project with Ergon Solair Africa, the subsidiary of the American company Ergon Solair PBC, an independent power producer (IPP) in the United States.The two project sponsors have already received approval from the.... Read more »

Posted on : Wednesday , 5th August 2020

Coffee farmers receive Rwf60 million for packaging in Rwanda

Rwanda Coffee Farmers Federation (RCCF) has secured 60 million Rwf in fund for internationally accepted coffee packaging bags that will enable them to leverage coffee export on global markets. The move according to the federation among other things ensure the supply of safe products to local, regional and international markets. The fund is part of efforts to sustain the sector by a coffee promotion project spearheaded by the.... Read more »

Posted on : Wednesday , 5th August 2020

3D printing helps the fight against COVID

Over recent years we have seen 3D printing becoming more accessible than ever and now this technology which seemed reserved for hi-tech conglomerates and spy movies is proving its worth in the fight against the Coronavirus. With the COVID-19 outbreak snowballing its way across the globe, medical supplies such as face masks, respirators and ventilators have become scarce and this shortage has prompted action by the 3D printing community and.... Read more »

Posted on : Wednesday , 5th August 2020

Kenyan floating solar crowdfunding bid could again end up smelling of roses

German energy start-up Ecoligo last year positively raised enough investment through its crowdfunding platform to finance a 75 kW solar system for the Rift Valley Roses flower farm in Naivasha, Kenya.Now the Rift Valley business is targeting to install what Ecoligo claims would be the nations first floating solar project, a 69 kW system on one of the companys two reservoirs.Ecoligo is aiming to generate Euro 126,000 from small scale investors.... Read more »

Posted on : Wednesday , 5th August 2020

Kenya Providing Internet Access Through Balloons

Loon, the balloon-centric project attempting to connect people to the internet, is live in Kenya, according to Alastair Westgarth from the company in a Medium blog post.The Alphabet subsidiary is described in the blog post as a network of floating cell towers, or balloons which are sent into the sky to provide internet access. The idea behind the project is to provide internet connectivity to the 3.8 billion people — almost half of humanity.... Read more »

Posted on : Wednesday , 5th August 2020

Portugal Auto Firm Eyes Kenyan Base for Cheap Cars Factory

Portugal-based auto-dealer is in conversation with a Kenyan assembler to initiate local production of low-cost Hyundai and Renault brands for sale across East Africa.Salvador Caetano Group said, it is in discussion with unnamed local assembler as it wants to enjoy the tax benefit that comes with assembling cars in Kenya.Kenya Vehicle Manufacturer and Associated Vehicle Assemblers have been assembling locally for top brands like Mitsubishi,.... Read more »

Posted on : Friday , 31st July 2020

Agricultural Sector boosts Kenya's economy

Kenya’s economy is on a recovery path due to the good performance of the agriculture sector, the country’s economic mainstay, and the opening of international air travel, the top central bank official said on Thursday. Patrick Njoroge, governor of the Central Bank of Kenya (CBK) said accelerated economic recovery is expected to start in August and peak to the end of the fourth quarter. Tea production is up. Sugarcane delivery has.... Read more »

Posted on : Friday , 31st July 2020

VAELL launches agricultural arm in Tanzania

Regional Leasing Firm, Vehicle And Equipment Leasing Limited (VAELL) is set to launch its agricultural arm in Tanzania as part of its regional expansion strategyDubbed Tinga, the arm will support SMEs and small scale farmers access to farm implements and transport services. This move has been necessitated by various requests for farm machinery and transport services in East Africa’s largest nation,” said the firm in a.... Read more »

Posted on : Friday , 31st July 2020

Tanzania plans to construct Hydropower Plants and Transmission Lines

Tanzania Electric Supply Company Limited (TANESCO) has awarded Multiconsult consultancy contracts for the 222MW Rumakali and 358MW Ruhudji Hydropower and transmission lines projects in Tanzania.Multiconsult will undertake feasibility studies, prepare the conceptual design and tender documents, and conduct environmental and social impact assessment studies for the two proposed hydropower projects and associated transmission lines.The Rumakali and.... Read more »

Posted on : Thursday , 30th July 2020

African Development Bank project tripled producers and traders income

An African Development Bank project to enhance market infrastructure, value addition and rural finance (MIVARF) in Tanzania produced highly satisfactory results, according to a report released by the project team. The project, rolled out in the country between 2012 and 2017 increased the incomes of rural producers and traders threefold. With $56.8 million in funding from the African Development Bank, the programme was undertaken in 32.... Read more »

Posted on : Thursday , 30th July 2020

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