Market News Page No. 23| Africa Business News

Indian Firms in Bid to Buy 50% Stake in Kenya's $3.4bln Oil Project

Indian oil firms ONGC Videsh and Oil India Ltd partner for the possible acquisition of a 50 % stake in London-based Tullow Oil's $3.4 billion oilfield project in Kenya, Press Trust of India news agency reported, citing informed sources. However, the Indian consortium faces competition from Chinese energy giant Sinopec, which has entered the competition following delays by Indian companies. Initially, ONGC Videsh, the overseas arm of.... Read more »

Posted on : Monday , 14th August 2023

Making the Agriculture Sector Greener in Tanzania

Tanzania's horticultural sector presents significant opportunities for youth to earn lucrative incomes. However, the use of gasoline or diesel-powered irrigation pumps has negative environmental effects and is an expensive solution. To mitigate climate change and increase agricultural productivity, the Tanzania Renewable Energy Association (TAREA) partnered with the Dutch Embassy and the Climate Response Facility (CERF) to implement the.... Read more »

Posted on : Wednesday , 16th August 2023

Shakti Pumps Starts Operations in Uganda To Supply Solar Pumps

Shakti Pumps (India) Limited, a leading manufacturer of stainless-steel submersible solar pumps, pressure booster pumps, pump-motors, controllers, and inverters among other products, has expanded its presence in another export market with the commencement of operations in Uganda and opened a branch office in the country. Dr. S Jaishankar, the External Affairs Minister along with the esteemed Uganda government members and Mr. Ramesh Patidar.... Read more »

Posted on : Wednesday , 24th May 2023

Kenya: Energy Ministry to Build Cow Dung Biogas Plants in 20 Counties

The Ministry of Energy is looking to build domestic masonry biogas plants using cow dung in 20 counties. In a tender document, the Ministry has invited bidders for the construction, testing, and commissioning of the projects. They will be built in devolved units such as Nyamira, Kisii, Uasin Gishu, Laikipia, Homabay, Kakamega, Tharaka Nithi, Narok, and Nandi. Others include Migori, Nyandarua, Nyeri, Kirinyaga, Bomet, and Bungoma,.... Read more »

Posted on : Tuesday , 23rd May 2023

Kenya: Germany Commits to Fund Kenya's Transition to 100% Renewable Energy

Germany has committed to offer both financial and technical support to Kenya to enable the country meet its target of achieving 100 % transition to renewable energy by the year 2030. Germany Chancellor Olaf Scholz praised Kenya for its strong leadership and investments in geothermal energy, noting that will go a long way in helping the country in its climate change adaptation plans. Chancellor Scholz who was speaking during his visit.... Read more »

Posted on : Tuesday , 23rd May 2023

Kenya Praises the Third Industrial Development Decade for Africa's Implementation

The 39th meeting of United Nations Industrial Development Organization (UNIDO) and Financial plan Board in Viena, Australia, Head Secretary in the State Division for Industry Dr. Juma Mukhwana who drove the Kenyan designation, unveiled that in 2022, in excess of 250 ventures, with a complete worth of US$63.3 million, barring between provincial and worldwide portfolios, were under execution in Africa, under the more extensive system of IDDA III,.... Read more »

Posted on : Friday , 19th May 2023

Kenya Takes Steps to Re-establish Its Local Textile Industry

Kenya as of late said ranchers will get free synthetic compounds and preparing to guarantee most extreme yield and the public authority is supposed to give an adequate number of unrefined components to the material business. The state division for industrialization, the service of agribusiness and the Crack Valley Material East Africa Ltd (RIVATEX) will team up on the venture. The step is supposed to support the home-grown cotton.... Read more »

Posted on : Friday , 19th May 2023

Ethiopia Earns USD 74 Million from Meat Export

Ethiopia's meat sends out have acquired USD 74 million during the most recent nine months of the 2022/2023 financial year, as detailed by the Animals Improvement Organization (LDI). Ethiopia sent out 16,000 tons of meat to the worldwide market during this period. As per Sahilu Mulu (PhD), the Delegate Chief General of LDI's Social Economy The board Exploration Division, sheep and goat meat sends out created USD 72 million USD while trades.... Read more »

Posted on : Thursday , 18th May 2023

Ethiopia Coffee Quality Inspection Centers to Open in Jimma and Hawassa

According to the Ethiopian Tea and Coffee Authority (ETCA), centers for coffee quality inspection and certification are anticipated to open in Jimma and Hawassa. Coffee will be shipped straight from the centers. One of Ethiopia's most popular English-language publications, Addis Fortune, said that the Jimma centre will gather coffee from the towns of Metu, Illubabur, Buno Bedele, Kefa, Sheka, and Benchmaji. Yirgacehefe, Sidama, and Guji.... Read more »

Posted on : Thursday , 18th May 2023

Donation of Solar Lights Will Benefit 200 Poor Families in Kenya

Recently, PowerAfricaSolar made a huge contribution to Kenya's rural communities by giving 200 portable solar lights to underprivileged families with school-age children. This project intends to address the urgent demand for dependable and environmentally friendly lighting options in rural areas, especially for families without access to power. By giving these families these solar lights, PowerAfricaSolar is assisting them to overcome.... Read more »

Posted on : Friday , 12th May 2023

Cooling Plant Set up in Ol Kalou town

The completion of a Sh500 million potato cooling machine in Ol Kalou town was celebrated by hundreds of farmers. When President William Ruto officially launched the facility two weeks ago, he said: "If there had been a cooling facility by then, I would have put my potatoes there and waited for the prices to rise. We are relieved that our suffering is over.” The activation of the factory was excellent news for growers, according to Wilfred.... Read more »

Posted on : Wednesday , 10th May 2023

New Packaging Standards Have Been Introduced by E-commerce Startup Jumia Kenya.

Jumia Kenya, an online retailer, has stated that customers would now receive their online products in the manufacturer's original packaging without any additional wrapping from Jumia.This is in line with the business' most recent statement, which supports its ESG strategy focused at ecologically actions in the nations where it conducts business.Instead of additional Jumia-branded packaging, items including clothing and accessories, footwear,.... Read more »

Posted on : Thursday , 4th May 2023