Market News Page No. 38| Africa Business News

40% Of Kipevu Oil Terminal Work Completed In Eleven Months

According to Kenya Ports Authority after taking eleven months to work for Construction of the Sh39 billion new Kipevu Oil Terminal (KOT) is 40 % done.The project is being developed by China Communications Construction Company(CCCC), started on February 1, with a timeline of 30 months. It is expected to be ready by August 1, 2021.KPA is the contractor of the new terminal, which will see the current 50-year old Kipevu Oil Terminal moved to a new.... Read more »

Posted on : Thursday , 19th December 2019

Qatar Airways set to build new Rwandan International Airport

Rwanda and Qatar Airways have signed an airport deal that will see the two parties set up a joint venture to build, own, and operate the new airport in the district of Bugesera.The airline has agreed to take a 60 percent stake in a new $1.3bn international airport in Rwanda, the state-run Rwanda Development Board said on Twitter. The second part of the deal was a share purchase agreement. When the airport project was initiated about two years.... Read more »

Posted on : Wednesday , 18th December 2019

Tanzania - New Health Experts To Boost Healthcare Services

Tanzania's healthcare sector is set to benefit from the fresh entry of 500 health experts who have successfully graduated from the Hubert Kairuki Memorial University (HKMU). It is an important addition to the understaffed health sector, with the new professionals expected to bridge the health worker gap. Speaking during the 17th graduation ceremony held in Dar es Salaam, Prof Mgone said the new graduates have acquired the necessary.... Read more »

Posted on : Tuesday , 17th December 2019

Ethiopia-China Cooperation In The Healthcare Sector

The Ethiopian government welcomed the Chinese medical team for their healthcare services and medical appliance assistance to the Ethiopian people. "The lifesaving involvement of China's medical support to Ethiopia, which lasts for more than four decades, is a successful appearance of the growing Ethiopia-China friendship," Yohannes Chala, Head of Addis Ababa Health Bureau, told Xinhua. "The Ethiopian government appreciates the efforts.... Read more »

Posted on : Tuesday , 17th December 2019

Kenya Launches Chinese-built 50MW Solar Power Plant

Kenyan President Uhuru Kenyatta has launched a 50 MW solar power farm located in Garissa, northeast region, with the plant being one of the largest photovoltaic electricity stations in Africa.The project was designed and constructed by the EPC contractor China Jiangxi Corporation for International Economic and Technical Co-operation (CJIC), in conjunction with Kenya's Rural Energy Authority (REA).The solar plant puts Kenya on the path of.... Read more »

Posted on : Monday , 16th December 2019

The Cashew Farmers Got Paid Over 60bn/ - By Government In Tanzania

The Tanzania government has paid 60.6bn/-to cashew nuts farmers in Coast Region in the last season 2018/2019 as others wait for the completion of verification exercise to get paid. Coast Regional Commissioner (RC), Engineer Evarist Ndikilo told a Regional Consultative Committee (RCC) meeting in Kibaha that the cashew nuts trading continues, only consignments which reached main warehouses will be paid. "While verification exercise.... Read more »

Posted on : Monday , 16th December 2019

The Agricultural Commercialization Cluster Launched In Ethiopia

The Government of Ethiopia in partnership with the EU, Denmark, and the Netherlands, has launched the Agricultural Commercialization Cluster (ACC) program. The program to be implemented with close to EUR 100 million in funding from the European Union, Denmark, and Netherlands, will benefit five million Ethiopian smallholder farmers. President Sahle-Work Zewde, Ambassador of the EU Johan Borgstam, Ambassador of Denmark Karin Poulsen and.... Read more »

Posted on : Monday , 16th December 2019

Sinopec lubricants enters Kenyan market

Sinopec, Chinese oil giant, has launched its lubricant brand in Kenya, making a venture into the fast-growing division of the country market. Sinopec, the Fortune 500 Government owned Corporation, is an integrated energy and chemical company with upstream, midstream and downstream operations.It is a widely listed company in New York, Hong Kong, London and Shanghai Stock Exchanges. Sinopec Lubricant Company is a subsidiary which is directly.... Read more »

Posted on : Thursday , 12th December 2019

A Significant Boost To The EU's Cooperation With Ethiopia

The new President of the European Commission, Ursula von der Leyen, on the occasion of her first official visit outside Europe, declared in Addis Ababa a remarkable boost to the EU'' collaboration with Ethiopia.The statement comes as President von der Leyen and Commissioner for International Partnerships Jutta Urpilainen met with Ethiopian Prime Minister Abiy Ahmed in Addis Ababa. Ursula von der Leyen, said, "Ethiopia has given hope to a.... Read more »

Posted on : Thursday , 12th December 2019

EAC To Promote The Textiles And Apparels Sector In East Africa

The 39th Council which was chaired by Rwanda’s Minister of State for Foreign Affairs, Regional Cooperation and East African Community Affairs, Amb. Olivier Nduhungirehe, was attended by line Ministers from all the EAC Partner States and EAC Executives. EAC Council of Ministers has approved the Final Draft Cotton, Textiles and Apparels (CTA) Strategy and its Implementation Roadmap. The strategy whose vision is to have “An.... Read more »

Posted on : Thursday , 12th December 2019

Cars45 expands into Ghana and Kenya multi-billion dollar African used car market

Cars45 plans to break into African used car market, a multi-billion dollar market with its tech-enabled marketplace.In order to tap into the $45 billion Africa automotive retail sector, Cars45 has launched operations in Kenya and Ghana. The Nigerian automotive tech-enabled platform stated that plans are at top gear to upsurge its footprint in the countries by inaugurating centers across the cities.Remarking on the expansion, Etop Ikpe, CEO and.... Read more »

Posted on : Thursday , 12th December 2019

Murang'a Substation at Completion Stage: Kenya

Construction of the Murang'a substation in Kenya nears completion. Kenya Power Company (KPC) Manager, Eng. Harrison Kamau, confirmed the report and said that the project will be completed and equiped for commissioning by end of December.The 7.5MVA substation aims to strengthen power supply in Murang’a. It is being subsidized at Kenya Power Company (KPC) at a cost of US $3m. At present it is at 65% completion. It is projected to boost power.... Read more »

Posted on : Monday , 16th December 2019