Market News Page No. 2| Africa Business News

Tanzania Boosts Natural Gas Production Significantly

The Tanzania Petroleum Development Corporation (TPDC) is set to boost natural gas production by 80 million cubic feet (cf) over the next year in response to rising demand. This increase is driven by the growing shift of vehicles from petrol to Compressed Natural Gas (CNG) and the expansion of industrial use of natural gas. Additionally, neighboring countries are expected to seek more of this resource. TPDC will launch production at the.... Read more »

Posted on : Wednesday , 4th September 2024

The Government of Kenya Plans to Build a Nuclear Power Plant By 2034

A government minister stated that Kenya intends to construct its first nuclear power plant by 2034 as the nation gets ready to host a nuclear energy summit between the United States and Africa. According to safety and environmental issues, the facility, which is planned to be built on the Indian Ocean coast, has already sparked opposition from campaigners and locals. In a statement from his office, Prime Cabinet Secretary Musalia Mudavadi.... Read more »

Posted on : Thursday , 29th August 2024

The Ethiopian Electricity Export Project will Begin Exporting Electricity to Tanzania in September

Ethiopia's planned electricity exports to Tanzania, which will likely start next month, have the potential to revolutionize the energy industry. On August 23, 2024, Engineer Ashebir Balcha, CEO of Ethiopian Electric Power, made a widely described announcement stating that the first power transmission will start by mid-September. This event, which was carefully planned for, is expected to represent a major advancement in Ethiopia's energy policy..... Read more »

Posted on : Thursday , 29th August 2024

The Epson Liquid Launch Project Will Aid African Schools By Enhancing Education Through Technology

The international technology company Epson has established a school donation initiative that will provide printers, projectors and visualisers to African schools. The organisation and network supplier Liquid Intelligent Technologies have partnered to embark on this journey. This program is a component of Epson's larger effort to provide schools and hospitals in eight Middle Eastern and African (MEA) nations with over 800 EcoTank.... Read more »

Posted on : Thursday , 22nd August 2024

Kenya's Thriving Wine Scene: A Glimpse into the Booming Industry

Actually, the growing middle class and their discretionary income are driving rising demand for wine and alcoholic beverages. Kenyans in particular have embraced wine drinking in social settings more and more. Kenyan wine has been gaining popularity as a result! Kenya is home to a rapidly expanding wine industry. Kenya's wine business is gradually booming. creating wines that are exclusively African in order to meet local demand. Kenyan.... Read more »

Posted on : Thursday , 8th August 2024

For The Paygo Consumer Loan, D.Light Closes A $176 Million New Financing Facility

A new $176 million securitised financing facility has been closed by off-grid solar product vendor d.light in order to support and grow its PayGo consumer loan offering in Kenya, Tanzania and Uganda. The company claims that over the next three years, the facility will allow it to supply dependable, sustainable energy to an estimated six million people across three countries. The new funding is coming from African Frontier.... Read more »

Posted on : Thursday , 8th August 2024

Pearl Dairy Farms Ltd. Has Secured A $35 Million Investment To Increase East Africa's Food Security

With over 72% of the workforce employed and contributing around 24.1% of Uganda's GDP, the agriculture sector remains the foundation of the country's economy. Just the dairy sector is valued at US$3.8 billion, with US$106.2 million coming from exports annually. Milk and dairy products have a crucial role in preventing hunger and preserving local food security. The dairy industry has shown remarkable expansion. Ugandans consume very little.... Read more »

Posted on : Thursday , 8th August 2024

UK Research Proposes To Install Geothermal Cooling Systems In Kenyan Households

A team of researchers from Robert Gordon University (RGU) in Aberdeen, Scotland, is installing geothermal cooling systems in Kenya's economically disadvantaged regions. The team will subsequently look into how implementing such systems affects a number of heat stress and well-being parameters, such as activity levels, heart rate, skin temperature and sleep quality. The Scottish Funding Council (SFC) and the Global Challenges Research.... Read more »

Posted on : Wednesday , 7th August 2024

d.light Receives $176 Million Funding For Building Up Solar-Powered Lighting Products In East Africa

d.light has announced the conclusion of a new financing facility that will purchase $176 million in receivables from Kenya, Tanzania and Uganda. African Frontier Capital, a social impact-focused investment management company, is providing the fresh financing. d.light claims it will use the infrastructure to expand its PayGo consumer credit service, making solar-powered items more accessible to economically disadvantaged households and.... Read more »

Posted on : Wednesday , 7th August 2024

Tanzania Will Begin Generating Its Own Steel In Order To Cut Down On Imports.

Within the next three years, Tanzania intends to start producing steel domestically. It has already been determined that the project is situated in the Njombe Region's Ludewa District. In order to promote iron ore mining, the investor, Fujian Hexingwang Industry Tanzania Co Ltd, and the National Development Corporation (NDC) inked a $77 million contract on Saturday, August 3, 2024. Presently, Tanzania's yearly expenditure on steel imports.... Read more »

Posted on : Monday , 5th August 2024

UN Agency Praises Tanzania for Enhancing Healthcare Services

UNICEF Tanzania has expressed its appreciation for the government's commitment to modernizing healthcare services, emphasizing the importance of maternity and newborn care in particular.The UNICEF Representative for Tanzania, Lawrence Oundo, noted that this dedication is essential to tackling the serious issue of maternal mortality, which continues to take many lives as a result of avoidable difficulties during pregnancy and childbirth.He was.... Read more »

Posted on : Monday , 5th August 2024

Kenya signs a Sh2.6 billion contract with a Chinese company for electric vehicle assembly

Chinese automaker Chery plans to increase its production of electric vehicles (EVs) in Kenya by investing Sh2.62 billion. The agreement, which was signed, was a collaboration with the Kenyan company Afrigreen Automobile and calls for building an assembly manufacturing plant to generate electric cars domestically. Principal Secretary Abubakar Hassan Abubakar of the Ministry of Investments, Trade, and Industry stated that the partnership.... Read more »

Posted on : Monday , 5th August 2024