Market News Page No. 35| Africa Business News

Ethiopia Exports USD 13 Million Worth Electricity to Djibouti, Sudan in Two Months

The Ethiopian Electric Power (EEP) announced on 10th October that Ethiopia has earned more than USD 13 million from exporting electricity to neighbouring Djibouti and Sudan. According to Menilik Getahun, the head of sales and customer management office under the marketing and business development department of EEP, the amount generated was out of the planned USD 18.55 million by supplying more than 349.56 million kWh of electricity to.... Read more »

Posted on : Monday , 17th October 2022

More Geothermal Power Plants Planned For Ethiopia

A United Kingdom company specialising in onshore deep drilling has secured financing to construct 2 geothermal power stations in Ethiopia. The projects at Tulu Moye and Hawassa will be Ethiopia’s 1st independent power stations and will run off geothermal energy harnessed by drilling deep into the volcanic rocks below. The Tulu Moye geothermal prospect site is situated in the main Ethiopia Rift, northwest of Asella while Hawassa is a.... Read more »

Posted on : Monday , 17th October 2022

Infraco and Equatorial to Invest $1.7m in Solar Mini-Grids in Rwanda and DRC

A new alliance has been formed to electrify rural areas in Rwanda and the Democratic Republic of Congo (DRC). It is an initiative of InfraCo Africa, an investment company of the Private Infrastructure Development Group, and electricity provider Equatorial Power. The 2 companies plan to invest USD 1.7 million to deploy a portfolio of solar mini-grids in Rwanda and the DRC. In these 2 neighbouring countries, mini-grids with a capacity of.... Read more »

Posted on : Thursday , 13th October 2022

Trina Solar Brings Next-Generation Photovoltaic Technology to Kenya

Trina Solar Co., Ltd., a world leading PV and smart energy total solution provider, has announced that it will launch a new distribution facility in Kenya. The new facility located in Nairobi will act as a regional hub for the East Africa region and will serve all neighbouring countries. The new facility aims to achieve faster delivery times to ensure reaching customers instantly and efficiently. Antonio Jimenez, Managing Director and Vice.... Read more »

Posted on : Thursday , 13th October 2022

Egyptian investors interested in the Kenyan manufacturing sector

According to a government official, the Egyptian business community is eager to invest in Kenya's manufacturing sector to help the east African country's industrialization agenda. Egyptian Ambassador to Kenya Khaled el Abyad stated in Nairobi, Kenya's capital, that bilateral investment and trade partnerships must go beyond traditional agricultural products. "Egyptian companies are exploring opportunities such as joint ventures,.... Read more »

Posted on : Wednesday , 12th October 2022

Tanzania, Qatar End Double Taxation Inking Trade and Investment Pact

Tanzania and Qatar have signed a MoU to end double taxation and strengthen trade and investment ties with the United Arab Emirates (UAE). A media statement issued by the State House says the objective of the MoU is to 'enhance trade and investment cooperation and partnership between business communities from Tanzania and Qatar.' To strengthen trade and investment among the countries, the statement specifies several areas of priority,.... Read more »

Posted on : Wednesday , 12th October 2022

Ethiopia Eyes Attracting Turkish, Dubai Business to Free Zone

An official tour to Turkey and Dubai was made by a delegation that included representatives from several institutions and was led by the Deputy CEO of Ethiopia’s Industrial Park Development Corporation (IPDC), Addisu Mamo, and the Head of Transformation and CEO, Fitsum Ketema, according to the information from IPDC. “The teams hosted investment promotion seminars in the UAE and Turkey’s Istanbul Free Trade Zone (DESBAS) to discuss.... Read more »

Posted on : Wednesday , 12th October 2022

Egypt remains dedicated to providing healthcare to Tanzania.

Egypt has reaffirmed its commitment to helping Tanzania raise the standard of healthcare services offered there. Mohamed Gaber Abulwafa, the Egyptian ambassador to Tanzania, reaffirmed the promise while presenting medical supplies to the Medical Stores Department (MSD) office in the Dar es Salaam region. He stated that through the Egyptian Agency of Partnership for Development (EAPD), his nation will continue to support the Tanzanian.... Read more »

Posted on : Tuesday , 11th October 2022

Kenya Setting Up Standards For Biogas Packaging

Kenya is setting up standards that will pave the way for the commercialisation of biogas, a move that will offer cheap energy for consumers in the wake of the high cost of LPG and generate revenue for producers, according to Business Daily Africa. Kenya Bureau of Standards (KBS) said it is working on the norms for the packaging of biogas, which is the only thing that has been missing in the commercialisation of the methane gas made from.... Read more »

Posted on : Tuesday , 11th October 2022

Ruto to Construct the Tanzania-Kenya Gas Pipeline

Kenya intends to pursue the construction of a gas pipeline linking Tanzania's main city, Dar es Salaam, to the coastal city of Mombasa and on to the capital Nairobi, in a bid to reduce energy costs, Kenya's president William Ruto has said. The 600km pipeline has been estimated by local reports to cost around US$1.1bn (£990m). The President spoke to Tanzanian media on 3rd October, shortly after holding bilateral talks with President.... Read more »

Posted on : Tuesday , 11th October 2022

Ethiopia witnesses an increase foreign direct investment.

Ethiopia attracted approximately 3.31 billion US dollars in Foreign Direct Investment (FDI) in the Ethiopian fiscal year 2021/2022, according to the Ethiopia Investment Commission (EIC). In a press release, EIC stated that 168 investors obtained investment licences during the fiscal year 2021/2022, with 100 investors obtaining investment licences in the manufacturing sector, 62 investors obtaining investment licences in the services sector,.... Read more »

Posted on : Monday , 10th October 2022

Government of Ethiopia benchmarks Set to Copy, KEMSA Operations

In an effort to implement KAIZEN principles at the Ethiopian Pharmaceuticals Supply Service, the delegation headed by Dereje Duguma, Ethiopia's Minister of Health, engaged KEMSA and benchmarked their operations (EPSS). According to KEMSA CEO Terry Ramadhan, the operating system helped the organisation rank among the best in sub-Saharan Africa. KEMSA's CEO said that the idea has helped the authority's transparency and end-to-end.... Read more »

Posted on : Monday , 10th October 2022