Market News Page No. 29| Africa Business News

Lighting up Rural Kenya: Energy Agency to Double County Investments

The Rural and Renewable Energy Corporation (Rerec) is working with county governments to expand electricity coverage in rural areas throughout the country.The company has stated that it would match county government expenditures in lighting their respective areas.Rerec, tasked with expanding electricity coverage in rural Kenya and increasing renewable energy use, announced that its ‘shilling for a shilling' Matching Fund Program would double.... Read more »

Posted on : Monday , 10th May 2021

Kenya: Mwatate Traders to Benefit From Sh50 Million Modern Market

Traders in Mwatate town, Taita Taveta are set to benefit from a Sh 50 million market under construction in partnership between the county government and the World Bank. The project implemented through the Kenya Urban Support Programme is set to be completed before the end of this financial year 2021 to accommodate over 200 small-scale traders in the area. Kenya Urban Support Programme is a 5 year World Bank programme targeting 45.... Read more »

Posted on : Friday , 7th May 2021

Hope For Kenya-US Trade Deal As Talks Resume

Kenya and the United States have resumed talks on the Free Trade Agreement which was ongoing since last year. Betty Maina, Kenya's Trade Cabinet Secretary and Katherine Tai, US Trade representative held talks that focussed on the importance of the trade relations between Kenya and Africa as important partners to the United States. The bilateral trade talks paused in the wake of American presidential elections last November 2020. A.... Read more »

Posted on : Friday , 7th May 2021

META Electric Starts Leasing BYD T3 Electric Vans In Kenya

Another epic leapfrog occurrence may be on the horizon for Africa. We've seen it before in sectors like telecommunications and fintech. After being exposed to the world of cell phones and, later, mobile money, the underserved and unbanked population jumped right in. They actually bypassed the fixed-line era and brick-and-mortar banking when better technologies and facilities became available, long before conventional telecoms and banking.... Read more »

Posted on : Wednesday , 5th May 2021

Making bricks out of unwanted plastic

Hellena Sailas, a 24-year-old micro, small, and medium-sized entrepreneur (MSME) from Tanzania, founded Arena Recycling Industry to produce building materials from plastic waste, such as eco-bricks, paving blocks, and tiles, in an attempt to save the world from unnecessary plastic. The materials produced by her company are used to build affordable homes, toilets, garden walls and other structures, mainly in rural areas. Hellena, who.... Read more »

Posted on : Tuesday , 4th May 2021

Tanzania President Samia Suluhu set to visit Kenya

Tanzanian President Samia Suluhu Hassan is scheduled to arrive in Kenya for a two-day State Visit on Tuesday, May 4th. On the same day, Kenyan President Uhuru Kenyatta will welcome her to State House in Nairobi. During her visit, Samia will address the joint houses of Kenyan Parliament, according to Tanzanian government spokesperson Gerson Msigwa. Other details about Samia's visit will be published in due course, according to.... Read more »

Posted on : Tuesday , 4th May 2021

Tanzania Economy to Grow by 6% in 2021, Central Bank Say

In its latest Monetary Policy Statement, Mid-Year Review, of February 2021 the Bank of Tanzania projects that the country’s real GDP will grow by 5.5 % in 2020 and by 6.0 % in 2021. The positive outlook is driven by expected value added in agriculture due to enough rains, public investment, increase in export earnings from mining contributed by high world market prices of gold, and private sector investment, coupled with supportive.... Read more »

Posted on : Monday , 3rd May 2021

800 Chinese Companies Ready to Invest in Tanzania

On 21st April 2021, the President of Tanzania, Hon. Samia Suluhu Hassan met with the leaders of the Chinese Chamber of Commerce in the country to discuss the various issues pertaining to trade and investment. The Chinese leaders led by Mr. Janson Huang guaranteed President Suluhu that they are ready to cooperate with the 6th Phase Government in economic growth and uplifting the welfare of the people through major investments of more.... Read more »

Posted on : Monday , 3rd May 2021

Kenya's Nakuru County Partners With UK Firm To Automate Medical Records

The County Government of Nakuru has partnered with a software developer based in the United Kingdom to automate medical records and revenue collection at all public health facilities in the county. Dr. Daniel Wainaina, Acting Chief Officer for Public Health Services, said the Elephant Healthcare Turnkey Solution, based in London, will digitize service delivery at Bahati, Langalanga, and Olenguruone Sub-County Hospitals on a trial.... Read more »

Posted on : Wednesday , 28th April 2021

Toyota Kenya and Gulf African Bank Have Signed A Truck Financing Agreement

Gulf African Bank (GAB) has partnered with Toyota Kenya to provide financing to customers purchasing Hino trucks, buses, and Hilux pickup trucks.Customers will have access to up to 90% financing in the payment system, which will enable buyers to repay the loan in six years, according to GAB Managing Director Abdalla Abdulkhalik. “The financing is open to everybody. Motor vehicles being purchased should not be older than seven years from.... Read more »

Posted on : Wednesday , 28th April 2021

Construction of US $42m new Makupa Bridge in Mombasa, Kenya begins

The Kenya National Highways Authority (Kenha) has begun construction of the US $42.1m new Makupa bridge in Mombasa. The 457m long bridge will replace the historic Makupa causeway that links Mombasa Island to the mainland. Kenha awarded China Communications Construction Company (CCCC) the contract for the construction of the two four-lane parallel bridges in November last year. According to the resident engineer, Stephen Gichuru, the project.... Read more »

Posted on : Wednesday , 28th April 2021

Kenya on course of robust mineral potential

If entirely exploited, Kenya’s mining sector is said to contribute up to 12% of the country’s GDP.According to a study released recently by the Mineral Rights Board on how to draw mining investment, Kenya is on a course to benefit the country with its robust potential.“The sector is generally financed by development partners and private investors with the government having to play a minimal role, therefore with reduced budgetary allocation.... Read more »

Posted on : Monday , 26th April 2021