Market News Page No. 43| Africa Business News

Agri-summit: Kijaji wants Tanzania to be the continent's food powerhouse.

Dr. Ashatu Kijaji, the minister of investment, industry, and trade, has urged both the public and private sectors to work together to make Tanzania the hub of the continent and the world for the trade of food. She issued the challenge before a symposium on agriculture. President Samia Suluhu Hassan is expected to give the opening address at the five-day African Green Revolution Forum (AGRF), which will take place in Kigali,.... Read more »

Posted on : Thursday , 29th September 2022

Suez will recover Renault's waste over the next three years in Morocco.

Renault, the French car manufacturer, has renewed its contract with Suez for waste management at its two Moroccan plants. Suez Morocco has been recovering Renault Group industrial waste since 2008.In Morocco, Renault and Suez are expanding their collaboration. The French environmental behemoth's Moroccan affiliate has seen its contract to manage industrial trash at two locations extended. The Renault Express, the Dokker, and the Dacia Lodgy are.... Read more »

Posted on : Tuesday , 27th September 2022

Kenya: Iten town in Kenya will get a Sewerage System.

Elgeyo-Marakwet County officials in Kenya recently unveiled a new sanitation initiative. In the town of Iten, it entails the installation of a sewerage system. The initiative, which aims to improve sanitary services, is being carried out by the North Rift Water Works Development Authority (NRWWA).In the Kenyan town of Iten in Elgeyo-Marakwet County, new pipes will be used to drain effluent. The local government announced the sewerage project on.... Read more »

Posted on : Tuesday , 27th September 2022

Ethiopia's new wood and forest industry has a bright future.

Millions of people can become wealthy by investing in forests. The opportunity is obvious: Over the next 20 years, Ethiopia's need for wood and forest products is predicted to rise by 27%. More than half of the nation's population, or an estimated 57 million people, work full- or part-time in the forest industry, which now contributes 12.9% of the nation's GDP. More than 11 million rural families rely nearly entirely on wood for their.... Read more »

Posted on : Tuesday , 27th September 2022

The Singida Mine of Shanta Gold is scheduled to open in 2023.

After announcing its interim results for the first half of 2022, Shanta Gold gave an update on the Singida Gold Mine, which will start producing in Q1 2023 and become the company's second functioning mine in Tanzania. Singida will be Shanta's second working mine in Tanzania when development on it begins in late 2020. The firm will become a +100,000 oz/pa producer owing to this activity, which will also diversify its resource base. Singida.... Read more »

Posted on : Monday , 26th September 2022

Midroc Ethiopia's Next Business Venture: A 1 billion USD residential town project

The Mahmadya Residential Village Project by MIDROC Ethiopia is anticipated to be the country's largest exclusively private real estate project. The largest company in Ethiopia and a division of Midroc International, Midroc Ethiopia, is starting a new operation in the country's real estate sector. The company said last week that it has started a 50 billion birr (USD 1 billion) housing village development project in the Ethiopian capital.... Read more »

Posted on : Monday , 26th September 2022

Kenya Plans to Become Manufacturing Base For US Companies

Kenya is looking to become a manufacturing hub for American companies that are to relocate or diversify out of China, the Business Daily newspaper reported. Kenya has long sought a free trade agreement with the US. Initial discussions started in August 2018 and in July 2020, the 2 countries formally launched negotiations for a free trade agreement. Industrialisation and Trade Cabinet Secretary Betty Maina said Nairobi will be.... Read more »

Posted on : Friday , 23rd September 2022

Nairobi Ranked 5th in Africa’s Dollar Millionaires

Kenyan capital, Nairobi has been ranked 5th in terms of the number of dollar millionaires in Africa in a report by research firm New World Wealth and Henley & Partners. The latest Henley Global Citizens Report, which tracks private wealth migration trends worldwide, shows Nairobi has 5,000 high net worth individuals (HNWI) with at least dollar 1 million. The report shows South Africa’s business hub Johannesburg has 15,200 dollar.... Read more »

Posted on : Friday , 23rd September 2022

Tanzania's Dodoma Stadium, the largest stadium in Africa

Pauline Gekul, the deputy minister for culture, arts, and sports, revealed that the government was ready to begin construction of the proposed Dodoma Stadium. Gekul made the revelation while responding to a question from Innocent Kalogeris, the MP for Morogoro South, in Dodoma. The Deputy Minister stated that currently, the government is looking for funding for the projects and that soon construction will begin. According to Gekul,.... Read more »

Posted on : Wednesday , 21st September 2022

Africa Oil Sees Progress Looming in Nigeria, Kenya

Africa Oil expects a number of developments in the next month or so, including the spud of the Gazania well, an extension to its licence in Nigeria and the signing of a Kenya deal. The company’s famously bullish CEO and president Keith Hill said the Island Innovator rig was 10 days out from arriving on location in South Africa. Block 2B, the site of the Gazania well, is in a rift basin where a previous well has found oil. “It’s.... Read more »

Posted on : Tuesday , 27th September 2022

Tanzania: Tanoil, Oman OQ to Partner in Petroleum Products Retail Business

PLANS are underway for Tanzania Petroleum Development Corporation (TPDC)'s subsidiary TANOIL to partner with an Omani conglomerate in oil and gas, Oman OQ to engage in retail business of petroleum products. This was revealed during a meeting between the Minister for Energy, Mr January Makamba, and the Ambassador of Oman in Tanzania, Mr Saud Hilal Al Shidhani. The 2 leaders also discussed partnership between TPDC and Oman OQ in whole.... Read more »

Posted on : Tuesday , 20th September 2022

Voltalia and Trina Complete the Installation of the Kesses Solar Power Plant

The French company Voltalia and the Chinese company Trina Solar are completing the construction of the Kesses solar PV power plant in Kenya. The 55.6 MWp project is being developed by the Spanish energy company Alten Energías Renovables. The construction phase of the Kesses solar PV power plant is now complete. The announcement was made by the Chinese company Trina Solar, which carried out the construction (EPC) of the plant in partnership.... Read more »

Posted on : Friday , 16th September 2022