Market News Page No. 30| Africa Business News

Tanga Fresh a Tanzanian dairy processor receives a second round of funding from DOB Equity.

DOB Equity, one of the leading Dutch family-backed impact investors in East Africa, has announced an additional investment in Tanga Fresh, a Tanzanian dairy processor.DOB's additional investment is expected to assist Tanga Fresh in expanding its production in the long-life milk market. East African consumers are increasingly shifting away from fresh milk and toward long-life milk, presenting a significant opportunity for market growth.Tanga.... Read more »

Posted on : Tuesday , 1st February 2022

Construction of the Singida Gold Project is on schedule to begin in 2023.

Shanta Gold (AIM: SHG), an East Africa-focused gold producer, developer, and explorer, has released an update on the construction progress at the Singida Gold Project in Central Tanzania, indicating that first gold production will occur in early 2023. In October of 2020, work on the Singida gold project was started. 'The promising findings of our grade control drilling at Singida strengthens our confidence in the robustness of the.... Read more »

Posted on : Tuesday , 1st February 2022

Africa aspires to be the world leader in processed tropical wood by 2023.

Gabon's wood sector aspirations are outlined in the '2022-2023 acceleration plan.' This strategy intends to promote Gabon's economic diversification. The goal of the country is to become the world leader in processed tropical wood. 'We are already Africa's biggest manufacturer of plywood. We can be the world leader in processed tropical wood by 2023,' declared the Prime Minister on January 18 as he presented this growth vision. Gabon.... Read more »

Posted on : Tuesday , 1st February 2022

Tanzania signs a USD 1.9 billion contract to complete the third phase of the SGR Railway.

Tanzania's President, Samia Suluhu Hassan, observed the signing of the agreement for the building of the third section of the Standard Gauge Railway (SGR) linking Makutupora to Tabora on December 28, 2021. Tanzania Railways Corporation (TRC) and Yapi Merkezi of Turkey inked the deal during a ceremony at the State House in Dar es Salaam. The section's construction, which includes 294 kilometers of mainline and 74 kilometers of.... Read more »

Posted on : Tuesday , 1st February 2022

Nairobi based Car & General enters the electric car market

Car and General (C&G) will begin selling electric vehicles and tuk-tuks as part of a strategy to expand into the 'green' mobility market, which is projected to increase in response to efforts to combat climate change and pollution. For decades, the Nairobi Securities Exchange-listed company has sold motorbikes and three-wheelers with internal combustion engines as part of its varied activities, which also include consumer.... Read more »

Posted on : Thursday , 27th January 2022

Plans Underway to Introduce All-Electric Cars in the Nation says Kenya Power

Kenya Power claims that the country's innovative ambitions to enter into the all-electric car industry are well underway. Acting Managing Director Rosemary Oduor of the utility corporation said the government is closely monitoring the situation in order to make it easy for those who want to buy electric vehicles in the nation. "Kenya Power, the country's electrical distributor, will continue to innovate in this area. It is not only.... Read more »

Posted on : Thursday , 27th January 2022

Dow invests in Mr. Green Africa, a Kenyan company that recycles plastic.

Dow Chemical is a worldwide corporation. Mr. Green Africa will improve its plastic waste management systems (sorting, collection, and recycling) in Kenya and other African nations with this financing. Dow Chemical, a developer of packaging solutions, is once again helping plastic trash recycling in Africa. Mr. Green Africa has received funding from the multinational based in Michigan. "This is Dow Chemical's first investment in Africa of.... Read more »

Posted on : Tuesday , 25th January 2022

Rwanda plant to recycle plastic into paving stones

In Rwanda, a new project attempts to turn single-use plastics into paving stones. In Mageragere, Nyarugenge district, the garbage will be processed in a factory. The project is being funded by Prosper Muhirwa, a member of the Private Sector Federation (PSF). The Rwanda Environment Management Authority (REMA) and the Private Sector Federation (PSF) forged a cooperation in June 2021 that is bearing dividends. One of the federation's members,.... Read more »

Posted on : Tuesday , 25th January 2022

Kenya to Double Oil Handling Capacity with New Kipevu Terminal

Kenya will double capacity of handling transit petroleum products starting this month from the current 35,000 tonnes as the Sh40 billion new Kipevu Oil Terminal in Mombasa is complete. President Uhuru Kenyatta is scheduled to inspect the facility accompanied by Chinese State Councilor and minister of Foreign Affairs Wang Yi and to conduct a dry run test. The new oil terminal, which is financed by Kenya Ports Authority (KPA) and.... Read more »

Posted on : Friday , 21st January 2022

Chinese-Built Oil Terminal at Kenyan Mombasa Port to Be Complete in July

The Chinese-built oil terminal at Kenya's Mombasa port is expected to be operational in July this year, Kenyan President Uhuru Kenyatta said on 6th January 2022. The construction of the 770-meter long offshore jetty, currently at 96% completion, was wholly funded by the Kenya Ports Authority and implemented by China Communications Construction Co., the presidential office said in a statement. The new jetty, the largest of its kind in.... Read more »

Posted on : Friday , 21st January 2022

ETHIOPIA: Production Testing Begins For the Great Renaissance Dam

The Ethiopian government has completed preparations for the start of a production test of the Grand Ethiopian Renaissance Dam (GERD). If successful, the first 2 units of the hydropower plant will come on stream. Addis Ababa is about to take the next step in the construction of the Grand Ethiopian Renaissance Dam (GERD). On the construction site, preparations for a test of electricity production are completed, according to our colleagues of.... Read more »

Posted on : Thursday , 20th January 2022

Kengen to Inject 83 Extra Megawatts to the National Grid

Kenya Electricity Generating Company (KenGen) will pump an extra 83MW of geothermal power into the national grid by this month. KenGen CEO Rebecca Miano said works on the Olkaria I unit 6 are at an advanced stage as part of plans to replace thermal power with green energy. Speaking over the weekend after a visit to Olkaria, Naivasha, Miano said the plant would help push down the cost of electricity. “We are at an advanced stage.... Read more »

Posted on : Thursday , 20th January 2022