Market News Page No. 29| Africa Business News

Africa's Free Trade Area to Boost the Creative Industry, Generate Jobs for the Youth

Africa's Free Trade Area (AfCFTA) is expected to be a boon for the creative sector and generate jobs for the youth. On 1 January 2021, trading under the African Continental Free Trade Area (AfCFTA) kicked off. The trade pact, which seeks to create a single market for goods and services and promote cross-border movement of capital and people, should boost intra-African trade, currently at only 18 per cent and regional integration. It is.... Read more »

Posted on : Friday , 18th February 2022

Tanzania Disburses $80m for EA Oil Deal Shareholding

Tanzania has already disbursed some $80 million (about Sh184 billion) as a part of its commitment in financing the East African Crude Oil Pipeline (EACOP), The Citizen has learnt. The director general of the Tanzania Petroleum Development Corporation (TPDC), Mr James Mataragio, said the parastatal oil company would have to pay a total of $308 million (about Sh708.4 billion) in the construction period covering the next 3 years. The.... Read more »

Posted on : Thursday , 24th February 2022

Tanzania LNG Project Talks Drag On

Tanzania is moving cautiously in its lucrative natural gas deals with no end in sight of the Host Government Agreement (HGA) negotiations, which resumed recently but are set to take longer than expected. Fresh discussions on the HGA over the multibillion-dollar project are being held in Arusha, northern Tanzania, after the negotiating teams finalised preliminary talks in November 2021. After being in limbo for nearly 2 years,.... Read more »

Posted on : Thursday , 17th February 2022

Medexpo international trade exhibition for the medical and healthcare industry opens today

The 23rd edition of Medexpo Africa was inaugurated today by Prof. Abel N. Makubi, PERMANENT SECRETARY, Ministry of Health, Community Development, Elderly, Gender and Children in Dar es Salaam at the Diamond Jubilee Hall. The much awaited trade show is open from 10:00 AM to 6:00 PM for the public for 3 days till 19th of February 2022. This premier exhibition for the medical and healthcare industry is the one place to source new products, services.... Read more »

Posted on : Thursday , 17th February 2022

KENYA: Alten Closes Financing For Its 55 Mwp Kesses Solar PV Plant

In Kenya, the Kesses solar project has reached a new stage. Its financing has just been completed following a financial mobilization that attracted 2 investors. This is the case of Standard Bank which arranged the transaction. The South African bank is also providing $41 million in debt including a term loan, a VAT (value added tax) and a debt service reserve facility. The bank will provide this financing through commercial banks CIB Bank.... Read more »

Posted on : Wednesday , 16th February 2022

KENYA: Three Solar Energy Providers Get CCISA Funding

In Kenya, 3 suppliers of solar energy for productive use will be supported by the Clean Captive Installations for Industrial Clients in Sub-Sahara Africa (CCISA) program. This initiative is implemented by the United Nations Environment Programme (UNEP) to provide clean energy to industrial and commercial (C&I) customers. As in most African countries, solar energy is gaining momentum in Kenya. The United Nations Environment Programme.... Read more »

Posted on : Wednesday , 16th February 2022

Government to Rehabilitate 363 Kilometers of old MGR Lines in Kenya

The government through Kenya Railways Corporation, the national railway of Kenya that is also known as Kenya Railways, is set to spend close to US$ 40M to rehabilitate a total of 363 kilometers of old railway lines, which are currently dilapidated, vandalized, or overgrown with vegetation, in the country. The lines include the 217km Nakuru-Kisumu meter-gauge railway (MGR), the 77.8km Gilgil-Nyahururu MGR branch line, and the 69.05.... Read more »

Posted on : Wednesday , 16th February 2022

Ethiopia: Russian Company Keen to Invest In Ethiopia's Energy Sector

Major Energy Company of Russia keen to invest in Ethiopia, Ministry of Foreign Affairs said. The Ministry disclosed that one of the major energy companies in Russia, Energy solutions, electro technical holding company ERSO, has shown interest to invest in the energy sectors of Ethiopia. Ethiopian Embassy in Russia has briefed investment opportunities in the Energy sector in Ethiopia for company's management recently that led by Mr..... Read more »

Posted on : Tuesday , 15th February 2022

Tanzania: Upgrade to Boost Power Supply

The Tanzania Electric Supply Company (TANESCO) is upgrading its power production stations to boost electricity generation in the country. The power stations currently under extension include Kinyerezi I which will generate 185 MW and Ubungo III 112 MW. Maharage Chande, Director General of TANESCO told journalists during a tour to inspect the work progress that to date power generation from Ubungo III has reached 60 MW which have.... Read more »

Posted on : Tuesday , 15th February 2022

President Kenyatta states that strong bilateral ties between Kenya and Hungary are centered on trade.

Nairobi - Kenyan President Uhuru Kenyatta has praised the country's strong bilateral ties with Hungary, stating that the relationship is primarily driven by economic cooperation, trade, and investment. Kenyatta, on the other hand, bemoaned the low levels of commerce and investment between Nairobi and Budapest over the last five decades, despite the fact that the two cities had enormous commercial potential. The balance of trade between.... Read more »

Posted on : Friday , 11th February 2022

Kenya and European Union have begun talks to strengthen ties "beyond aid."

Kenya and the European Union have begun crucial negotiations to move their relationship beyond aid and toward long-term peace and development. Kenya's Cabinet Secretary for Foreign Affairs signed a joint declaration in Nairobi with visiting EU top diplomat Josep Borrell Fontelles to formally begin discussions on a Strategic Dialogue, a guiding text that may steer relations to "shared issues." Mr. Fontelles, the EU's High Representative.... Read more »

Posted on : Friday , 11th February 2022

Tanzanite Bridge starts operation today

Construction of the new Tanzanite Bridge in Dar es Salaam is complete, on the stroke of midnight on February 1, operations of the new bridge kicked off allowing motorists access they have been waiting for.The New Selander Bridge has combined the characteristics of a girder bridge and a cable-stayed bridge to make it lighter. The technique enhances construction and economic feasibility, according to the builder.Works minister Mbarawa had on.... Read more »

Posted on : Friday , 4th February 2022