Market News Page No. 33| Africa Business News

Kenyan Government presents a positive FY20-21 budget against Covid-19 backdrop sets a trajectory for recovery and growth

As the world prepares itself for a new normal post corona virus, countries in the East African region are also pulling all stops to ensure economic revival. The Kenyan Government has presented a USD 26 Billion budget for the fiscal year 2020 - 21. The period for this budget starts from the 1st of July, 2020 to 30th June, 2021. Seeking to tackle the adverse impact from a list of factors like the Covid-19 pandemic, locust invasions, and floods,.... Read more »

Posted on : Monday , 29th June 2020

Flyover Project Pace Thrilling : Tanzania

Tracking his plan to decongest Dar es Salaam City, President John Magufuli yesterday inspected the ongoing construction of Ubungo flyover in Dar es Salaam, expressing his satisfaction with the pace.The 247bn/- project is one of the many other big infrastructure projects that the fifth phase government is executing to ease traffic congestion in the leading commercial urban centre.Other projects in progress include the second phase of Dar es.... Read more »

Posted on : Monday , 22nd June 2020

Cameroon to benefit from construction of a multi-functional laboratory complex

The Republic of Cameroon, a country on the Gulf of Guinea in the central region of Africa is set to benefit from the construction of a multifunctional laboratory complex dedicated to the analysis and control of the quality of food, pharmaceutical, textile, electronic, chemical and construction products. The project is being carried out by Mediline Medical Cameroon, a subsidiary of South Korean firm Mediline Korea on an approximately 2.... Read more »

Posted on : Thursday , 11th June 2020

leading construction works at Kipeto wind power project in Kenya complete

The major construction activities at the Kipeto Wind power project located at Esilanke area on the foothills of Ngong Hills in Kajiado county of Kenya has been completed following the completion of the installation of all the 60 wind power turbine generators by the US multinational General Electric (GE). The Kipeto wind power plant is expected to have a capacity of 100MW and it will also be the second largest of its kind in the East African.... Read more »

Posted on : Thursday , 11th June 2020

Kenya Tops Angola as Sub-Saharan Africa's No. 3 Economy

Kenya surpassed Angola as sub-Saharan Africa's third-largest economy in dollar terms, according to International Monetary Fund estimates. Angola has contracted every year since 2016 as oil output declined, and the kwanza was devalued in 2019 while Kenya's shilling held steady. The coronavirus pandemic and restrictions to limit its spread will probably see Angola's gross domestic product contract 1.4% in 2020, while Kenya's is projected to grow.... Read more »

Posted on : Thursday , 11th June 2020

Trump notifies Congress of trade deal with Kenya

US President Donald Trump has officially notified Congress of its intention to negotiate a trade agreement with Kenya.Trade Representative Robert Lighthizer sent a letter to Speaker Nancy Pelosi, House Minority Leader Kevin McCarthy and Senate Minority Leader Charles Shumer."Under President Trump's leadership, we look forward to negotiating and concluding a comprehensive, high-standard agreement with Kenya that can serve as a model for.... Read more »

Posted on : Friday , 20th March 2020

Govt. Industrialisation Agenda Vowed By Pharmacists In Tanzania

Pharmacists in the country have vowed to support the government industrialisation agenda and improvement of health service initiatives undertaken in the country. Addressing a press conference in Dar Es Salaam, Mr Issa Hango who serves as president of the Pharmaceutical Society of Tanzania (PST) said as pharmacists were scheduled to hold the annual general meeting (AGM) and a scientific conference mid this month they expected to come up with.... Read more »

Posted on : Thursday , 19th March 2020

The Folding Plastic Furniture Market Is Projected To Grow In the Coming Years

The Folding Plastic Furniture Market has noticed a continuous growth in the last few years and is estimated to grow even further during the forecast period of 2020-2026. Acceptance of folding furniture is on a rise in most populous cities of the world. Plastic folding Furniture is the furniture mostly made by plastic. Like for example the plastic folding chairsconsist of a tubular metal frame or plastic fram with a molded.... Read more »

Posted on : Thursday , 19th March 2020

Kenya's Plastics Industry On Course For Sustainable Success

Since the beginning of the year, a new INTAREMA 1108 TVEplus RegrindPro with laser filter has been processing industrial and household waste plastic to produce recyclate at the company's plant in the Kenyan capital, Nairobi.Mr. Green Africa combines social responsibility with technology and cost effectiveness. As of February, the young entrepreneurs have expanded their business model and no longer sell only washed flakes, but now.... Read more »

Posted on : Friday , 13th March 2020

Kenya’s Crude Oil Production to touch 46,000 bpd in 2023

According to Tullow, oil from the Lokichar Basin is set to cost US$25/bbl. to extract and transport. However, the aspect of transportation is yet to be resolved, making their estimates doubtful.An examination by the Oxford Business Group indicates that there is a relatively high wax content in the oil, which could put a dampener on the final production price — likely to trade less than the global benchmark of Brent crude.NGO Oxfam.... Read more »

Posted on : Thursday , 12th March 2020

More than 1.5 Million Tanzanians to Receive Power from Market Leader, Greenlight Planet

Greenlight Planet, the market leader in the fastest growing pay-as-you-go (PAYG) solar industry, has successfully executed clean and reliable energy access to more than 1.5 million people in Tanzania. With a strong partner-led and direct distribution network, Greenlight’s Sun King products are now in more than 300,000 Tanzanian households, have offset more than 300,000 metric tons of greenhouse gas, and enabled more than 70 billion Tanzanian.... Read more »

Posted on : Wednesday , 11th March 2020

Mahindra launches locally assembled Scorpio pick-up vehicle in Kenya

Mahindra & Mahindra (M&M) through a partnership with Simba Corporation, which is a prominent commercial organization in Kenya, dealing in motor vehicle sales and service, recently declared the launch of its locally assembled Scorpio pick-up vehicle in Kenya. M&M mentioned in a statement that the introduction of locally assembled pick-ups that are custom built for the Kenyan terrain, is a solid step forward in this journey. This.... Read more »

Posted on : Tuesday , 10th March 2020