Market News Page No. 54| Africa Business News

World Bank to Fund Sh.50 Million in Vihiga for Street Lighting Project

Locals and traders of Majengo market in Vihiga Sub County will soon experience enhanced security and working hours following World Bank’s move to entirely fund installation 15 high mast floodlights project in the Municipality at a cost of about Sh.52.5 million. The Vihiga County Governor, Dr. Wilber Ottichilo and his Deputy Governor (DG), Dr. Patrick Saisi led a team of county officials and World Bank representatives were.... Read more »

Posted on : Thursday , 9th May 2019

The Africa market is segmented as product type and applications on the basis of lighting products

Constant progression on ‘Lighting Africa’ this is an initiative of (IFC & World Bank), which is further fuelling the growth of lighting products market in the region of East Africa. Driven by factors such as a growing subscriber base for smart phones and increasing consumers spending on television services is what the growth of the LED and OLED display market in Africa is depending on. The OLED and LED display.... Read more »

Posted on : Thursday , 9th May 2019

The World Food Programme Partners with TABD

The World Food Programme (WFP) has partnered with state owned development financial institution, Tanzania Agricultural Development Bank (TABD) in implementing the Farm to Market Alliance (FTMA) project. The project seeks to boost the agriculture sector in the country with plans of explore ways to scale up the FTMA model and have more smallholders under the arrangement. According to a Daily News report, the platform has enabled TADB to provide.... Read more »

Posted on : Thursday , 9th May 2019

Kenya experiences 25 percent growth in its exports of duty-free goods to the US under Agoa act

Marking one of the biggest leaps in nine years, according to the latest figures by the Kenya National Bureau of Statistics (KNBS), exports of duty-free goods to the US under the African Growth and Opportunity Act (Agoa) grew by 25 percent. The goods, especially textile products, grew from Sh33 billion in 2018 to Sh41.5 billion last year. Capital investment increased to 96.3 billion in 2018 from Sh95.3 billion in 2017 while.... Read more »

Posted on : Monday , 6th May 2019

Over 200 health facilities in Tanzania benefits as they are equipped with high tech anaesthesia machines through a $3million project

According to Chief Executive Officer of Gradian Health Systems, Mr Stephen Rudy, "the high tech medical equipment, known as Universal Anesthesia Machine (UAM), can generate medical oxygen and work without power." “The equipment can save valuable time, money and lives during surgery,’’ said Mr Rudy. A $3million project that was launched on World Health Day, by the government in cooperation with a US-based.... Read more »

Posted on : Monday , 6th May 2019

Better returns for Africa as it is contributing to improved use of renewable energy power across the continent

Developing economies everywhere Africa measure during a distinctive position to leapfrog a lot of developed nations by finance in cleaner, environmentally friendlier sources of power at a lower price - main factors conducive to improved use of renewable energy power across the continent. However, renewable energy resources hold nice promise and might give energy whereas overcoming Africa’s infrastructural challenges, this manner.... Read more »

Posted on : Friday , 3rd May 2019

WOODBOIS SHIFTING ITS FOCUS TO AFRICA AFTER ENJOYING A RECORD IN THE FIRST QUARTER

The forestry and timber trading company that is focused on Africa shipped an all-time quarterly high of 114 containers of timber and veneer during the three months ended on 31 March. That translated into record revenue of USD4.5millon for the period, a third higher than the same quarter of 2018 (Q1 18: USD 3.4millon). Lombard Odier subscription Woodbois raises £960k. As the year progresses the growth is expected to pick up, in Gabon in.... Read more »

Posted on : Thursday , 2nd May 2019

TANESCO LAUNCHES 150 MW SOLAR TENDER IN TANZANIA

To ramp up solar’s share to its energy mix, Tanzanian power utility (Tanesco) wants to build solar plants across six regions. As the nation tries its level best successful projects will be ranging from 20 MW to 50 MW in size. With a combined capacity of 150 MW Tanzania’s state-owned power utility the Tanzania Electric Supply Company Ltd (Tanesco) has issued a request for qualification for the construction of several large-scale PV.... Read more »

Posted on : Wednesday , 1st May 2019

EXPERTS COLLABORATE TO EXPLORE OIL IN TANZANIA AND UGANDA

Endowed with untapped diverse energy sources including biomass, natural gas, hydropower, coal, geothermal, solar and wind power which are found in abundance in Tanzania. Out of the total energy supply Wood-fuel accounts for up to 92% hydro-electricity amounts for 2% and 7% is derived from oil products. The downstream oil industry is an important sector to the country’s economy that absorbs 55% of the country’s foreign exchange.... Read more »

Posted on : Wednesday , 1st May 2019

ALLWIN PACKAGING KENYA AND ISHIDA EUROPE WORK HAND IN HAND TO INCREASE MARKET VALUE

In Kenya plastic packaging is almost entirely dependent on imports. This is due to the post-harvest losses caused by insufficient packaging and processing technology in East African countries are as high as 30%, and up to 70% of fruits and vegetables have to besold with out packing and thus might get wasted. The increase in per capita income in Kenya has led to an increase in packaged foods and fast-moving consumer goods, especially the.... Read more »

Posted on : Tuesday , 30th April 2019

JOINT EAST AFRICAN CAMPAIGN FOR VEHICLE ASSEMBLY MOVES INTO TOP GEAR

Reginald Mengi an industrialist based in Dar-es-Salaam signed a deal with a South Korean firm to set up a vehicle assembly plant in the country. The $10 million deal between Youngsan Glonet Corporation and Mengi’s IPP Automobile Company Ltd will make it the second vehicle assembly plant in Tanzania. The other one is a Polish tractor assembly plant at Kibaha called Ursus. Mr. Mengi, the IPP group executive chairman, also shows immense.... Read more »

Posted on : Tuesday , 30th April 2019

Ethiopian government regulates food and agriculture sector

The Government of Ethiopia (GOE) is undergoing various reforms and economic liberalizations in the food and agriculture sectors. Over the past five years, the process of updating and modernizing the country’s food safety, animal and plant health regulatory systems has become paramount. These developments are attributed to the nation’s fast-paced, export-oriented economic growth, which has spurred a rising number of.... Read more »

Posted on : Tuesday , 30th April 2019