Market News Page No. 52| Africa Business News

RWANDA: AfDB Finances Electrification of 77,400 Homes with a $180 Million Loan

The African Development Bank (AfDB) Group has announced the release of $180 million to Rwanda. This is a loan to finance a project to electrify rural areas, mainly in the south of the country. Of the $180 million in financing granted to Rwanda, $140 million represents a loan from the African Development Bank’s (AfDB) sovereign window. The other $40 million is from the Growing Together in Africa Fund, a $2 billion facility funded by the.... Read more »

Posted on : Thursday , 19th May 2022

Ethiopia: Geothermal Facility at Aluto Langano Begins Testing

• EEP commences geothermal well testing. • KenGen is carrying out the geothermal site expansion project. • The company will drill a total of 12 geothermal wells at the site. The Ethiopian Electric Power (EEP) has announced the commencement of production testing of the newly drilled geothermal wells at the Aluto Langano site in central Ethiopia. The ongoing drilling is being conducted by Kenya Electricity Generation Company.... Read more »

Posted on : Monday , 30th May 2022

Roads, railways and bridges: The changing face of East Africa's cities

In East Africa's major cities, the skyline is changing. From the ageing buildings, potholed roads and chaotic transport systems, a new order is emerging. New skyscrapers have sprouted and big-ticket transport infrastructure networks are in the works. In Nairobi, East Africa's business and financial hub, a tolled 27km expressway has been launched, giving hope to commuters who have had to endure three-hour drives on the stretch, instead of.... Read more »

Posted on : Tuesday , 17th May 2022

Latest Updates on Rwanda and Tanzania's Isaka-Kigali Standard Gauge Railway (SGR) Project

The government of Tanzania has announced plans to invite international tenders for the construction of the Isaka-Kigali standard gauge railway that starts from Isaka dry port to neighbouring countries of Rwanda and the Democratic Republic of Congo (DRC). Hassan Abbasi, chief government spokesperson and permanent secretary for the Ministry of Information, Culture, Arts and Sports revealed the plans and said that the government is in its.... Read more »

Posted on : Monday , 16th May 2022

Nairobi Expressway Is Now Open To The Public, Says Transport CS Macharia

Transport Cabinet Secretary James Macharia now says the much anticipated Nairobi Expressway is finally open for public use. Speaking on Saturday during the commissioning of the road ahead of the launch, CS Macharia said at least 11,000 thousand vehicles have so far been registered on the road, with about 7,000 having registered to use the electronic toll collection. The CS said Moja Expressway, the company tasked with managing the.... Read more »

Posted on : Saturday , 14th May 2022

Tanzania topples South Africa as Kenya's top source of imports in Africa

Tanzania has become the largest source market for Kenya on the continent after overtaking South Africa, partly on the back of increased orders of maize and rice by millers. Official trade statistics show expenditure on goods trucked from Tanzania nearly doubled last year to Sh54.47 billion from Sh27.88 billion the year before. The 95.38 percent, or Sh26.59 billion, bump in imports catapulted Tanzania to the top position in Africa after.... Read more »

Posted on : Wednesday , 11th May 2022

Kenya's economy booms as Tanzania softens borders

Tanzania's "softened" borders with Kenya, reduced non-tariff barriers and solutions to bilateral issues have resulted in the growth of businesses in both countries, a year after President Samia Suluhu took office. Data from the Kenya National Bureau of Statistics Economic Survey 2022 shows that Tanzania's exports to Kenya doubled in just 10 months. Before President Samia's tenure, the two countries had a number of spats on trade.... Read more »

Posted on : Monday , 9th May 2022

Heifer Launches Africa's Digital Agriculture Champions Initiative

The Digital Agriculture Champions (DAC) initiative was launched by Heifer International, a nonprofit organisation dedicated to ending global hunger and poverty. Starting in Kenya, the initiative will supply sustainable, cost-effective training modules for smallholder farmers across Africa. Heifer is investing in digital extension systems for training as a post-pandemic response strategy that will create efficient, scalable solutions for.... Read more »

Posted on : Tuesday , 3rd May 2022

Tanzania: Recycling helping growth in Businesses and job creation in Africa

As the world celebrated Recycling Day, more and more plastic trash is being redirected from landfills and into a circular economy that helps African countries generate employment and entrepreneurship. Diana Sibanda, Group Head of Sustainability at Coca-Cola Beverages Africa (CCBA), said the firm was working on more environmentally friendly ways to manufacture, distribute, and sell its goods. In a statement, she said, "We leverage.... Read more »

Posted on : Tuesday , 3rd May 2022

Sun King Raises $260 Million To Expand Access To Sustainable Energy In Africa And Asia.

Sun King, one of Africa's and Asia's top solar enterprises, has raised $260 million in series D funding to expand access to off-grid energy technology throughout the two continents.Sun King (previously Greenlight Planet) intends to invest $100 million in expanding its pay-as-you-go offerings and introducing larger setups capable of powering appliances such as refrigerators. Its present systems are capable of powering lights, cellphones, and.... Read more »

Posted on : Monday , 2nd May 2022

Kenya will stop the importation of used passenger mini-buses and large buses from July 1, the Kenya Bureau of Standards (KEBS)

KEBS managing director Bernard Njiraini said the move follows the implementation of new standards meant to boost safety on the roads as well as support local assemblers who produce over 5,000 units annually."All used passenger minibus, midibus and large bus, single articulated and bi-articulated and double-decker buses shall not be allowed for importation into the country from July 1," said Njiraini in a notice.The country has also banned.... Read more »

Posted on : Friday , 29th April 2022

Kenyan Community Projects that Save Forests and Livelihoods

More than 63 percent of people in Africa, according to the Center for International Forestry Research (CIFOR), have no alternative to wood and rely on it as their major energy source. In Africa, almost 90% of the wood harvested is utilised for fuel. Because cleaner alternatives or sustainable fuels remain out of reach, the International Energy Agency's regional energy forecast cautions that wood fuel will remain vital to Africa's future as.... Read more »

Posted on : Thursday , 28th April 2022