Market News Page No. 55| Africa Business News

African Car Sales Experiences An Exceptional Raise

A struggling economy, political uncertainty, fragile consumer confidence, mounting pressure on disposable income, and diminished purchasing power as a result of higher interest rates and fuel price hikes, have all taken their toll on domestic new vehicle sales in South Africa. However, it’s not all doom and gloom for the automotive sector. According to the latest new vehicle sales statistics released by the National Association of.... Read more »

Posted on : Wednesday , 29th May 2019

Italian Printing Giants 'Durst' Seeks New Business Opportunities in Africa

Pyrotec PackMedia invested in an eight-color digital label press from Durst, a manufacturer of digital printing and manufacturing technology, bringing the Durst Tau 330 RSC into the African market for the first time. This latest addition of machinery opens up a new digital future with Durst technology and will play an important role in the latest digital label printing business venture of the company. Timothy Beattie,the general manager of.... Read more »

Posted on : Wednesday , 29th May 2019

China's Weeco Recycling Opens New Plastic Recycling Plant in Kenya

A China based recycling firm recently opened a new plastic waste recycling plant in eastern Kenya investing 4.5 billion shillings (US$ 45 million) to help curb environmental degradation. Weeco Recycling Company, which processes 2,000 tons of PET bottles each month and recycles them into pellets and polyester fiber, announced the establishment of two plants in the East African country on Monday. Besides the plant in the town of Athi River.... Read more »

Posted on : Wednesday , 29th May 2019

Sh30.4 Billion revenue is the new benchmark of 2018 for the growth of Mining in Kenya.

Kenya witnessed a remarkable growth in the mining sector last year. A total of Sh30.4 Bn is collected as revenue in 2018 for the mining sector, which represents a year on year growth of 5.9 per cent over the previous year. Although Kenya is home to minerals such as soda ash, gold, diatomite, fluorspar, titanium ore and gemstone, but Soda ash and diatomite are the main drive behind this massive growth. Titanium accounted to be the third most.... Read more »

Posted on : Tuesday , 28th May 2019

Unilever & Crossboundary Energy Discloses 619 Kwp Solar Plant in Kenya

Unilever Tea Kenya and CrossBoundary Energy have authorized a 619 kWp solar plant at the company’s Kericho tea factory. This is the first on-site solar installation for a Unilever facility in Sub-Saharan Africa, and it brings the company near to its target of sourcing 100% of total energy from renewables by 2030. With the addition of solar PV to its actual hydroelectric and biomass resources, over 90% of Unilever Tea Kenya’s.... Read more »

Posted on : Tuesday , 28th May 2019

Introduction to Traffic Lights in Kisumu, Kenya

Traffic lights installed in Kisumu for the first time in upgrading the controle on trafic at a number of intersections and pedestrian crossings. The Kenya National Highways Authority (Kenha) started installing the lights in three key junctions along the Kisumu-Kakamega highway following roads upgrade and increased traffic flow with the onset of devolution. Kenha director general Peter Mundinia said the construction of the four-lane highway.... Read more »

Posted on : Monday , 27th May 2019

5 Billion USD Green City project is Rwandas new approach to a cleaner environment.

After successfully launching construction of Africa’s biggest tech hubs Kigali Innovation City, Rwanda is approaching to a cleaner environment with the Green City project in the capital Kigali in 2020. Rwanda is planning to construct a green city on 620 hectares in Kinyinya Sector, Gasabo District as an approach to achieve a cleaner and safer environment. It will be the first city in Africa to equip with green technology and.... Read more »

Posted on : Saturday , 25th May 2019

BuildExpo seeks to improve construction in Rwanda

The second edition of Build Expo was opened on Wednesday May 23rd by the Minister of Infrastructure, Hon. Ambassador Claver Gatete, at the Kigali Convention Centre. The event attracted a number of distinguished guests from all walks of life including ambassadors from other countries, foreign ministers, members of the public and private sector and media. The Regional Marketing Director, Duncan Njaye, gave a brief history of Expo Group.... Read more »

Posted on : Friday , 24th May 2019

Nigerias Kews Garden Plans To Enter Into The International Market

Kews Garden Limited, a Nigerian fishing company, has launched a new fish product under the brand ‘Mackerel Butter’ amid its plans to export fish and fish products into the international market. Speaking during the launch of the product Mrs Nnenna Anekwe said that the firm has concluded plans to begin the export of processed mackerel fish butter to other parts of the world. Anekwe revealed that the firm, which has been operating in.... Read more »

Posted on : Thursday , 23rd May 2019

Phase 1 construction of Dar Es Salaam SGR nears completion

Phase one works on US $1.9bn Dar Es Salaam Standard Gauge Railiway (SGR) between Dar es Salaam and Morogoro in Tanzania nears completion. Minister for Works, Transport and Communications Isack Kamwele revealed the reports. Phase 1 of the project that Dar es Salaam has been pushing since April 2017 include three passenger trains which will be making daily round trips between the two cities, this is lower than the maximum 12 trips projected.... Read more »

Posted on : Thursday , 23rd May 2019

Zanzibar Govt is all set to work with General Electric and KAYI Medical International to modernise its healthcare system

The government of Zanzibar have shown an interest to work with General Electric and KAYI Medical International in order to update its healthcare system. Ali Iddi, Zanzibar's Second Vice President Ambassador, gave the pledge when he met with representatives of KAYI Medical International led by its General Manager Batur Engin. "Zanzibar would welcome reputable international organisations to modernise its healthcare",.... Read more »

Posted on : Tuesday , 21st May 2019

AFFORDABLE HOUSING IN KENYA GETS A USD 250 MILLION BOOST

A USD 250 million loan to Kenya has been approved by the World Bank for a large scale affordable housing project. World Bank’s Kenya Country Director Mr. Felipe Jaramillo, said that the establishment and operationalisation of the Kenya Mortgage Refinance Corporation (KMRC), a largely private sector-owned and non-deposit taking financial institution supervised by the Central Bank of Kenya (CBK) will be supported by Kenya Affordable Housing.... Read more »

Posted on : Monday , 13th May 2019