Market News Page No. 15| Africa Business News

Indonesian Minister Says Pertamina Plans on Establishing Oil Refinery in Kenya

Coordinating Minister for Maritime and Investment Affairs Luhut Binsar Pandjaitan revealed that state-owned oil and gas company Pertamina plans to expand its business to East Africa by establishing an oil refinery in Kenya. "Pertamina will enter Kenya after being asked to establish an oil refinery there. We also see an opportunity to bring their crude oil to Indonesia," Pandjaitan stated. Following a meeting with Pertamina's President.... Read more »

Posted on : Monday , 31st July 2023

Egyptian Firm To Study Dar Natural Gas Market

The Egyptian company, TAQA Arabia, is set to carry out a study that would enable the Tanzania Petroleum Development Corporation (TPDC) to supply natural gas to more residents in Dar es Salaam. The study will therefore inform the TPDC over natural gas market in the city so as to construct the needed supply infrastructure. Recently, the company signed the MoU with the TPDC for the envisaged undertaking. At the signing ceremony, TAQA.... Read more »

Posted on : Monday , 31st July 2023

Tanzanian Government Secures EUR 300 Million for Infrastructure Projects

ATIDI guaranteed a EUR300 million credit facility provided by Deutsche Bank AG to the Tanzanian government. The facility will finance numerous infrastructure projects that are part of Tanzania's budget for 2022/2023 and are in line with the country's National Development Vision 2025. Insuring Deutsche Bank against non-payment by the Tanzanian government on the loan facility advanced to the ministry of finance, ATIDI provided a seven-year.... Read more »

Posted on : Monday , 31st July 2023

Mining takes off in East Africa with collaboration among regional players

The State Mining Corporation (Stamico) declared that it was ready to collaborate with Kenyan mineral professionals in order to raise the standard for how the two countries should manage their mining sectors to support economic progress. This was discussed during a gathering of six mining-related delegates from Kenya who had travelled here for three days to receive training on how to manage the industry. What is found in Tanzania may.... Read more »

Posted on : Friday , 28th July 2023

The Manufacturing Industry Is Expected to Boost Kenya's GDP by the Year 2030

The manufacturing sector is expected to boost Kenya's Gross Domestic Product (GDP) by 15% in 2027, and 20% by 2030. According to the finance ministry, the country's economic growth stands at 5.3per cent in 2022 and would be 6 per cent in 2023. To accomplish this, The Ministry of Investments, Trade, and Industry is setting up suitable measures that will further enhance the accomplishment of the objective. According to Nancy Muia,.... Read more »

Posted on : Friday , 28th July 2023

The Tanzanian government will contribute 134 billion to the Tarime-Rorya Water Project.

A total of 134 billion dollars have been allotted by the government to wrap up the Tarime-Rorya Water Project, which will ultimately support more than 933,818 people. After investigating the project, which eventually completion would benefit families from 32 villages in the Rorya district and 81 streets in the tarime district, engineer cyprian luhemeja, the deputy permanent secretary of the ministry of water, delivered the following announcement.... Read more »

Posted on : Thursday , 27th July 2023

Jubilation in Ewangan Village after Getting Solar Panels from Tourists

Residents of Ewangan village within the Sekenani area in Maasai Mara National Reserve are a happy lot after a group of tourists collaborated with Super Africa Wildlife and Adventure Safaris to light their village. The tourists from Hong Kong, Taiwan and China, led by Allen Yeh, donated 15 solar panels to the village so as to improve their living standards. The relationship with the village, Yeh said, began seven years ago when he.... Read more »

Posted on : Wednesday , 26th July 2023

Ethiopian Utility Launches Tender For 20 Solar Minigrids

The Ethiopian Electric Utility has launched a tender for the construction of 20 solar minigrids across several parts of Ethiopia. According to the tender document, which was published on the website arifchereta.com, the projects will be located in the Southern Nations, Nationalities, and People's (SNNP) region, as well as in the Amhara, Somali, Oromia, and Sidama regions. Interested developers have until Aug. 15 to submit their.... Read more »

Posted on : Wednesday , 26th July 2023

Fosroc Invests in a New Production Facility in Nairobi to Access the East African Market.

With the opening of its new manufacturing plant in Nairobi, Kenya, Fosroc, an international company that manufactures construction chemicals, has made a significant advancement in its global growth strategy.In Nairobi, Fosroc Kenya will manufacture liquid, powder, resin and extruded PVC goods making it the firm with the broadest selection of locally produced goods in the building chemicals industry. In addition to adding more.... Read more »

Posted on : Friday , 7th July 2023

Shalom Health Care will invest a total of $250 Million in the construction of a medical equipment manufacturing plant in Hawassa.

Shalom Health Care, a private limited company, broke ground in Hawassa, Ethiopia, on a USD 250 million medical equipment manufacturing plant. The plant, which is expected to be finished in two years, will create 5,000 jobs and reduce the country's reliance on imported medical equipment. Dr. Winta Mehari, CEO of the company, stated that the plant would manufacture a wide range of medical equipment, including syringes, needles, IV bags,.... Read more »

Posted on : Friday , 7th July 2023

Senegal and Kenya Are Expected to Join the IEA

The International Energy Agency's Governing Board unanimously decided that the Republic of Kenya and the Republic of Senegal would become Association nations, highlighting the IEA's growing involvement with Africa on energy and climate concerns. The IEA's member nations unanimously approved the proposal to deepen ties with each nation on June 21 in response to requests from the governments of Kenya and Senegal to become Association.... Read more »

Posted on : Tuesday , 15th August 2023

Kenya and India collaborate to Increase Indian Investment in the Nation

Kenya and India are collaborating on strategies to promote more Indian investment in the nation in an effort to increase trade, investment, manufacturing, and employment possibilities. According to international Affairs Principal Secretary (PS) Korir Sing'oei, the Kenyan government has created an atmosphere that is conducive to company operation and growth, which is essential for drawing in international investment. Speaking at the.... Read more »

Posted on : Tuesday , 15th August 2023