Market News Page No. 21| Africa Business News | Afrotrade

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China, Ethiopia Strengthen Apparel Sector Ties With New MOU

In February at the Joint Economic and Trade Commission meeting in Addis Ababa, Ethiopia and China signed a MoU to strengthen economic and trade connections in vital sectors. Dr Sheng Lu, associate professor in the Department of Fashion and Apparel Studies at the University Delaware tells Just Style exclusively: “The latest MOU could further build up the close tie between Ethiopia and China in the textile and apparel sector. Notably, as a.... Read more »

Posted on : Thursday , 30th March 2023

Construction of a 86.8 million USD architectural glass plant in Tanzania is currently planned

A Chinese company, Keda Industrial Group, will soon open an architectural glass plant in Tanzania for a total investment of US$86.8 million. When it is finished in about a year, the plant will have a 600-ton-per-year output capacity for architectural glass. The project is a component of Keda Industrial's plan to increase its market share and diversify its offering of materials, including architectural glass, in the African market. The.... Read more »

Posted on : Tuesday , 4th April 2023

A U.S. company and the Caravelle International Group collaborate to export wood products from Gabon, Africa, to the country.

NEW YORK CITY – Caravelle International Group, a global ocean technology company, has formed a partnership with a US corporation to manufacture wood products in Gabon, Africa, for export to the US, and the Gabonese government has granted the partnership use of 165 acres of land for the location of the lumber mill. Wood laminate flooring, plywood, and other wood products will be manufactured at the mill. Because of cheaper lumber and.... Read more »

Posted on : Thursday , 30th March 2023

The Implementation of the 28-urban Water Project Will Begin Shortly.

Jumaa Aweso announced recently the 28-Urban Water Project in Songea, Tanzania, at the event for the signing of the agreement for the project's establishment between both the government and the China Civil Engineering Construction Corporation (CHICCO). Mr. Aweso is the Water Minister, who was depicted by Deputy Minister Maryprisca Mahundi.According to the contract, the initiative will boost Songea Urban Water and Sanitation Authority's (SOUWASA).... Read more »

Posted on : Thursday , 30th March 2023

Rural Women Farmers Benefit from Solar-Powered Irrigation Project

At least 103 women from 3 women-led smallholder farming communities from rural Uganda have benefitted from an innovative solar-powered irrigation system to enable them enhance their yields and climate resilience. The beneficiaries are Kaihura Women Farmers Association (KAWFA) in Butiiti Sub-county, Kyenjojo District, and Nebbi Women Horticultural Farmers Association (NWOHOFA) in Ndhew Sub-county, Nebbi District and Women Smallholder Farmers.... Read more »

Posted on : Wednesday , 29th March 2023

Kenya’s Kisumu Solar One Project to Commence Operation in 2024

Ergon Solair Africa Limited, a company with US-European-Kenyan ownership, is developing the Kisumu Solar One 40MWAC Solar Project in Kibos (Kajulu), with planned commissioning and operation in 2024. The project, which is endorsed by the Government of Kenya, is planned to have a capacity of 40 MWAC with single axis tracking, on a 249 Acre land, located 8 km from the Kibos new Sub Station. The project has a 1st year estimated output of 103,000.... Read more »

Posted on : Wednesday , 29th March 2023

Tanzanian coal exports raised by +780% in the year that ended in January 2023.

Coal valued at USD 195.5 million was exported during the year ending January 2023, according to the Bank of Tanzania's (BOT) Monthly Economic Review-February 2023. When compared to coal exports worth USD 22.2 million in the year ending January 2022, this indicates an increase of +780%. The increase is attributed by the central bank to a rise in demand for alternative energy sources brought on by delays in the supply chain.... Read more »

Posted on : Wednesday , 29th March 2023

Tanzanian car dealer launches semi-hybrid SUV

Tanzania's vehicle sector is expanding at a rapid pace. The newest Suzuki semi-hybrid automobile will be launched in Tanzania soon, according to CFAO Motors Tanzania. On its social media channels, the company shared a teaser video. Several auto enthusiasts are curious and interested in this post. The newest and first Semi-Hybrid Suzuki model will be introduced in Tanzania, according to Francois Bompart, CEO of CFAO Motors.... Read more »

Posted on : Wednesday , 29th March 2023

Kenya to assemble 130 electric buses from China in 2023

In 2023, Kenyan automaker Associated Vehicle Assemblers (AVA) plans to produce 130 electric buses built by Chinese automaker BYD. AVA's managing director, Matt Lloyd, stated in Nairobi, Kenya, that the company has constructed 15 BYD electric buses for the local market that were imported as a collection of components. "The benefit of BYD is that it is one of the world's leaders in electric car manufacturing, and the level of quality of.... Read more »

Posted on : Wednesday , 29th March 2023

Tanzania: AfDB Pumps 374.9bn/ - Loan for Kakono Power Project

THE government has signed a loan agreement of 161.47 million USD with the African Development Bank (AfDB), to implement Kakono Hydropower Project (Kakono HPP). The approximate cost of execution of the Kakono HPP is 325 million USD. Speaking during the signing ceremony in Dar es Salaam on 16th March, Minister for Finance and Planning, Dr Mwigulu Nchemba said the overall development objective of Kakono HPP is to increase on-grid energy.... Read more »

Posted on : Friday , 24th March 2023

KENYA: Finnfund Sells Its Stake in the 310 MW Lake Turkana Wind Farm

The Finnish Fund for Industrial Cooperation (Finnfund) is selling its shares in Lake Turkana Wind Power (LTWP), the special purpose company that operates the 310 MW Lake Turkana wind farm. It is the 2nd shareholder to withdraw from East Africa's largest wind project. News about the Lake Turkana wind farm in Kenya. One of the project’s shareholders, the Finnish Fund for Industrial Cooperation (Finnfund) is selling its shares in the special.... Read more »

Posted on : Friday , 24th March 2023

$130.5 Million LPG Facility Starts Construction in Mombasa, Kenya

Construction has begun on a $130.5 million re-filling plant for liquefied petroleum gas (LPG) and 30,000-ton storage facility at the Dongo Kundu Special Economic Zone in Kenya. Construction started on 24th February by Tanzania-based LPG distributor, Taifa Gas, and will service both Tanzania and Kenya in a bid to make clean cooking gas more affordable and accessible for both East African countries. “We are investing in infrastructure.... Read more »

Posted on : Thursday , 23rd March 2023

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