Market News Page No. 114| Africa Business News

Kenya begins construction of US $168m Western Bypass

Kenya National Highways Authority (KenHa) and the Ministry of transport has announced that construction of US $168m Western Bypass has begun with the project being the fourth and final ring of the Nairobi Ring Roads. The bypass project is set to kick off in Gitaru, Kiambu county connecting the Southern bypass in Kikuyu town and will terminate in Ruaka connecting the Northern bypass. It will will have a four lane expressway with a total length.... Read more »

Posted on : Monday , 21st October 2019

Kenya launches test run on Phase 2A of its SGR Line

The government of Kenya has launched a 15 day test run on its Standard Gauge Railway (SGR) phase 2A project, which is currently on its final stage of construction. This is inorder to establish a link between the capital Nairobi and the resort town of Naivasha in the rift valley region. The 120km modern railway line whose construction is overseen by the China Communications Construction Company (CCC), kicked off in October 2016. The line is part.... Read more »

Posted on : Monday , 21st October 2019

NIC Bank Have Inked A Deal with Toyotsu Auto Kenya Limited for Used Cars

One of the largest used Japanese cars dealers in Kenya to finance and facilitate Kenyans to purchase second-hand vehicles from Japan. The partnership will guarantee toyotsu customers up to 90% financing, 60 months repayment period and two months warranty for vehicles that meet the warranty criteria with an option to extend to one year at a small fee. Speaking at the signing ceremony of the financial deal, nic bank.... Read more »

Posted on : Tuesday , 17th September 2019

Uganda And Japanese Investors Come Together In Order To Promote Trade And Development

Uganda's President Yoweri Museveni told the Japanese investors, "we have made our own hybrid solar powered car and bus. We can make partnerships with you to make solar powered batteries." President Yoweri Museveni has called on Japanese investors to exploit Ugandas's advantageous investment opportunities and partner with government to promote trade and development. In August 2019, Museveni met several potential.... Read more »

Posted on : Monday , 16th September 2019

Economic 'game changer'? African leaders launch free-trade zone

NIAMEY (Reuters) - African leaders launched a continental free-trade zone on Sunday that if successful would unite 1.3 billion people, create a $3.4 trillion economic bloc and usher in a new era of development. After four years of talks, an agreement to form a 55-nation trade bloc was reached in March, paving the way for Sunday’s African Union summit in Niger where Ghana was announced as the host of the trade zone’s future.... Read more »

Posted on : Friday , 13th September 2019

African Experts Praised China For Its Continous Support To Africa In The Public Health Sector

African experts and policymakers have praised China's continous support to African institutions in the public health sector, with particular praise to its contribution towards the institutional and technical development of the much-needed African Centers for Disease Control and Prevention (Africa CDC). The blossoming China-Africa public health cooperation marked a remarkable milestone when African and Chinese officials revealed the.... Read more »

Posted on : Friday , 13th September 2019

Zimbabwe And Tanzania Are Working Towards Cementing Their Relations

Zimbabwe and Tanzania took a giant step towards upgrading their relations with top officials between the two countries composing various economic agreements at the 8th session of the Joint Permanent Commission on Cooperation (JPCC) which opened in July 2019. A three day JPCC was started with recommendations being tabled in preparation for the ministerial meeting condemned for focusing on areas where Zimbabwe and Tanzania can further.... Read more »

Posted on : Thursday , 12th September 2019

Ethiopia to construct 5 stadia in Addis Ababa

Ethiopia plans to construct 5 stadia in Addis Ababa to add on the two existing ones – Yidnekachew Tessema and Abebe Bikila stadia. Out of the five, four are zonal stadia and will be constructed in the districts of Yeka, Nifas Silk Lafto, Bole and Gullele. The zonal stadia will cover an area of 40,000sqm, 70,000sqm and 110,000sqm respectively and each of the have a carrying capacity of 30,000, whereas the plot for Gullele is not yet.... Read more »

Posted on : Wednesday , 11th September 2019

Toyota Kenya Partnered With Total Kenya to Promote - Kali Sector

Toyota Kenya Limited and Total Kenya have publicized that a three-month skill-based competition targeting the Jua-Kali mechanics. The competition dubbed, Total Quartz Golden Spanner Competition scheduled to run from mid-August to November 2019, will see mechanics from across the country battle it out for the grand prize of a brand-new Toyota Hilux single cab pickup valued at Sh3 million. The first and second runners up will obtain Sh.500, 000.... Read more »

Posted on : Monday , 9th September 2019

Kenya Power Signs Sh379m Cars Agreement

Kenya Power, the electricity distribution monopoly, has inked a deal with four auto dealers to supply a fleet of vehicles at Sh379 million. The partly State-owned firm, which is eyeing an improvement of its financial position revealed the amount in a tender notice. Kenya Power acting Chief Executive Jared Othieno did not respond to queries on whether the vehicles deal was a purchase or a leasing plan. It was also not.... Read more »

Posted on : Monday , 9th September 2019

Prime Minister Shinzo Abe Renewed Japan's Pledge To Boost Investment In Africa

Abe pledges to boost investment in Africa from the country's private sector to more than $20 billion over the next three years, in the hope of facilitating the giant continent's development. Abe's pledge meant that the government would encourage greater investment from the private sector with the aim of surpassing the previous three-year total, although he did come up with a specific numerical target. Abe told African leaders.... Read more »

Posted on : Friday , 6th September 2019

USD 98 million received for Ethiopia-Djibouti corridor road project

Ethiopia is going to receive USD 98 million funds from African Development Bank (AfDB) for the construction of the Ethiopia-Djibouti corridor road project. The total cost of the project is expected to be USD 255 million. Djibouti government is expected to fund around USD 5.3 million via AfDB grant while the remaining fund of USD 151 million is expected to be covered by Ethiopia government in co-financing contribution. The project will start.... Read more »

Posted on : Friday , 6th September 2019