Market News Page No. 107| Africa Business News

Kenya Power signed 20-year Power Purchase Agreement (PPA) with Lamu Farm

Kenya Power has signed a 20-year Power Purchase Agreement (PPA) with a Lamu-based wind power company. The wind farm is owned by Baharini Wind Power Company which is backed by Belgium’s Elicio Company and Kenya’s Kenwind Holdings Limited.The initial plan includes setting up 38 wind turbines which will produce 90 megawatt (MW). The wind farm is planned on a 3,206-acre land at Baharini Village, about 40 kilometres from the new Kililana.... Read more »

Posted on : Monday , 17th February 2020

Heavy Commercial Power Consumers in Kenya Relieved Due to lesser End-Month Billing

Heavy commercial power consumers in Kenya will have a sigh of relief as their end-month billing is set to be lesse due to manufactures and heavy power consumers will start getting charged less in the power bills after the Energy and Petroleum Regulatory Authority (EPRA) introduced a new class of tariffs.As per the new tariffs, which was gazetted by the regulator earlier, commercial and industrial consumers metered by Kenya Power at 220,000 volts.... Read more »

Posted on : Monday , 17th February 2020

Global Recognition for the Rwandan Sustainable Mobility Providers

The Rwanda Utilities Regulatory Authority (RURA) and Ampersand have been listed among Africa's most promising climate and clean energy inventors lined up for the 2020 Ashden Awards.The Ashden Awards recognize the most exciting climate action solutions being implemented around the world.This year, a total of 44 nominees have been declared, comprising of cities and organisations that are working on the climate crisis with practical actions.Ashden.... Read more »

Posted on : Thursday , 13th February 2020

Kenya to construct four waterfronts in the Coast, Western and Rift Valley regions to boost tourism

The government of Kenya is planning to construct four waterfronts in Western and Rift Valley regions, and along various water bodies in the coast said by Tourism CS Najib Balala. The big move comes intending to increase tourism in particular regions along with the country as a whole. Balala said that the government of Kenya has set aside funds for the planned projects after the completion of Mama Ngina waterfront in Mombasa County. Mombassa.... Read more »

Posted on : Friday , 7th February 2020

USD 751 million East African Coastal Corridor development project beginning its construction process soon

The process of constructing 460 km Coastline Transnational Highway in Kenya has officially begun by the National Highway Authority (KeNHA) of Kenya. The authority has rolled the tender for a part of the project that includes 13.5 km Mombasa - Mtwapa road, and the 40.4 km Mtwapa - Kwa Kadzengo - Kilifi road in an advertisement. The Mombasa - Mtwapa section includes the construction of four-lane dual carriageway, stormwater drains, service.... Read more »

Posted on : Friday , 7th February 2020

Kenya to Export 400,000 Barrels/Year Crude till Turkana Project Kick Off

Kenya plans to export two crude cargoes a year under the early oil pilot scheme up to late-2023, when first oil from the major Turkana oil development is projected to come online, Petroleum Principal Secretary Andrew Kamau told S&P Global Plats in a telephone interview earlier last month."We aim to export some 400,000 barrels of crude annually beginning with the financial year 2020-21, 2021-22 and 2022-23," he said. "We want a rigorous.... Read more »

Posted on : Wednesday , 5th February 2020

Addis Ababa Glass & Bottle Share Company Aiming To Triple Its Container Glass Manufacturing Capacity

Addis Ababa Glass and Bottle Share Company, an Ethiopian glass container manufacturing company aim to increase capacity from its current 80 tons per day to 240 tons per day by 2022. Addis Glass is a container glass packaging producer which uses electric melting technology. It has gained from Ethiopia’s competitive electricity prices. As part of its attentive process, the private equity player approached the UK based glass.... Read more »

Posted on : Tuesday , 4th February 2020

Unilever EA Launched Its First Fully Recyclable Plastic Packaging For Sunlight Scouring Powder In Kenya

Made using 100 percent recycled malleable materials, Unilever East Africa has launched its first fully recyclable plastic packaging Sunlight Scouring powder. The launch which is symbolic in closing the post-consumer recyclate loop marks a major step and pioneer example in creating a fully circular plastic economy for the Kenyan industry. Developed as part of a partnership with waste management service provider Green Africa Trading.... Read more »

Posted on : Tuesday , 4th February 2020

Marathon Motors launches three new locally assembled Hyundai models

Established just about a decade ago, as importers and distributors of Hyundai passenger and commercial vehicles and parts in Ethiopia, Marathon imports around 500 to 600 cars each year and presently has the capacity to assemble 10,000 cars annually and introduce 12 new models.Marathon Motors is not the only single assembler of South Korean made vehicles in Ethiopia. There are overall 19 companies that are registered at the Ministry of Trade.... Read more »

Posted on : Friday , 31st January 2020

Ethiopian Council Of Ministers To Establish An Artificial Intelligence Research & Development Center

Ethiopia is all set up to start AI research center. The decision calls for "a favourable environment for beginner developers and startups working in the artificial intelligence sector." This was the latest of a series of steps taken by Ethiopia, Africa's second populous nation with a population of about 107 million, to step up AI research and development in certain and advance information and Communications technology (ICT) in.... Read more »

Posted on : Friday , 31st January 2020

Kenya - Plans Are Underway For The Launch Of A Loan Facility Targeting SMEs In The Country

Principal Secretary of Industrialization, Francis Owino at an event with President Uhuru Kenyatta, said the new service, which will be launched by the National Treasury, is expected to allow SMEs access more capital and address the challenge they face when starting their businesses. The new MSE’s policy is expected to address challenges in areas that has limited access to finance particularly for start-ups. The PS was speaking during.... Read more »

Posted on : Friday , 31st January 2020

African partnerships strengthen Deep Casing Tools’ global footprint

Deep Casing Tools (DCT), the UK-based Oil and Gas Technology development company, has confirmed the employment of 2 agents as part of its strategic development plans in Africa.DCT has selected Africa Oilwell Technology, an Oilfield Services Company, as its partner in Cameroon, Angola,Democratic Republic of Congo , Republic of Congo, Gabon and South Africa. Meanwhile, Omasup Energy Services one of the oil and gas services company, has been.... Read more »

Posted on : Thursday , 30th January 2020