Market News Page No. 57| Africa Business News | Afrotrade

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Agreement Signed for Construction of Neuropsychiatric Centre in Karen/Ngong

President Uhuru Kenyatta met with executives from San Raffaele Research Hospital, a renowned private hospital in Italy managed by group chairman Kamel Ghribi, to sign an agreement for the construction of a National Teaching and Referral Neuropsychiatric Centre in Karen/Ngong. The 600-bed hospital will be developed on an 80-hectare plot of land purposely to handle the East African country's rising mental disease burden. The country also.... Read more »

Posted on : Wednesday , 1st June 2022

Tanzania Exports Up by 20% in YE March 2022, Tourist Arrivals Almost Doubled

The Bank of Tanzania Monthly Economic Review-April 2022 reveals that the country’s exports of goods and services increased to US$ 10,214.6 million during the year ending March 2022. This is +20.14% higher than US$ 8,502.1 million in a similar period in 2021. Improvement in exports was noted in both traditional and non-traditional exports in addition to travel receipts. Exports of goods rose by 7.8% to US$ 6,882.2.... Read more »

Posted on : Monday , 30th May 2022

Samia: Tanzania gearing up to connect countries through rail, road

Tanzania is ready for regional integration and is in the process of completing road and railway networks with the goal of linking neighbouring countries, hence contributing to continental integration efforts, President Samia Suluhu Hassan has said. Connecting AfricaHowever, the country will need more external funding to finance the construction of the next phases of the Standard Gauge Railway (SGR) as well as proposed highways.... Read more »

Posted on : Thursday , 26th May 2022

Samia: Tanzania gearing up to connect countries through rail, road

Tanzania is ready for regional integration and is in the process of completing road and railway networks with the goal of linking neighbouring countries, hence contributing to continental integration efforts, President Samia Suluhu Hassan has said. Connecting AfricaHowever, the country will need more external funding to finance the construction of the next phases of the Standard Gauge Railway (SGR) as well as proposed highways.... Read more »

Posted on : Thursday , 26th May 2022

Tanzania's first domestically produced electric vehicle unveiled

Masoud Kipanya, a Tanzanian cartoonist, showcased the country's first domestically produced electric vehicle. Kipanya, who is known for his sarcastic cartoons, claimed the electric automobile was his own innovative concept that he worked on for 11 months. Kaypee Motor is the brand name of the ecologically friendly electric automobile. According to Mr Kipanya, it is composed of local materials and takes six hours of charging to travel.... Read more »

Posted on : Wednesday , 25th May 2022

Tanzania is Bagging Billions in Natural Gas Investments

Tanzania liquefied natural gas front has received a US$30 billion shot in the arm from large energy companies including Equinor and Exxon Mobil. • Tanzania has an estimated 57 trillion cubic feet of natural gas reserves • ExxonMobil, Equinor and Shell are among top 2 energy giants investing in Tanzania gas • Tanzania has secured a US$30 billion investment in its LNG project Tanzania's natural gas reserves have just.... Read more »

Posted on : Wednesday , 25th May 2022

Tanzania to Sign Sh70 Trillion LNG Project

Mtwara. The government is expected to sign initial agreements with exploration companies for the construction of a giant liquefied natural gas (LNG) plant before the end of May, the negotiation team has revealed. The team of experts is currently in negotiations with 5 oil and gas firms – Shell, Equinor, ExxonMobil, Pavilion and Ophir on the $30 billion (Sh70 trillion) project to be implemented in Lindi Region. The negotiations, which.... Read more »

Posted on : Wednesday , 25th May 2022

KEFI approves a capital raise of 1.8 billion ETB

Addis Abeba, Ethiopia - According to sources, the shareholders of KEFI Minerals, a gold exploration and development business, approved a capital raise of 28 GBP (1.8 billion ETB). According to a press statement issued last week, the money would be invested in the Tulu Kapi site and two additional Saudi Arabian projects. The aforementioned sum is part of a wider package of 1.8 billion ETB for the Tulu Kapi location, according to the press.... Read more »

Posted on : Wednesday , 25th May 2022

Uganda and Ethiopia will work together on building.

Partnerships and exchange of information and skills, according to Ethiopian Ambassador to Uganda Alemtsehay Meseret, would assist enhance the building sector. Engineers in Uganda and Ethiopia have launched a collaboration to promote the building sector in both countries in order to improve profitability and efficiency. The two nations will share information, experience, and expertise in the field under the terms of the agreement. The.... Read more »

Posted on : Wednesday , 25th May 2022

Opportunities for a New Horizon of Cooperation between Ethiopia and Somalia

The Somali parliament reelected Hassan Sheikh Mohammed to replace Mohammed Abdullahi Farmaaajo a few days ago in a hotly contested three-round election. The election, which has been postponed for over a year, is expected to usher in a new era in Somalia's diplomatic and comprehensive ties with its neighbours, particularly Ethiopia. Prime Minister Abiy Ahmed emphasised his interest in working with the new president of Somalia on current and.... Read more »

Posted on : Wednesday , 25th May 2022

Local Vehicle Assemblers in Kenya eye 70pc sales jump on used trucks ban

Kenyan annual sales of domestically produced automobiles are predicted to climb by 70%. This is in response to the government's edict prohibiting the entry of secondhand trucks and buses. The importation of secondhand buses longer than seven metres has been prohibited, according to a statement issued by the Kenya Bureau of Standards (KEBS). The prohibition goes into effect on July 1, 2022. Trucks having a capacity of 3.5 tonnes or more will.... Read more »

Posted on : Tuesday , 24th May 2022

Nairobi Railway City project timeline

Work on the new Nairobi Railway City Project will begin in two months. It will include eight lines and four extra lines for freight services when finished in two years. Speaking at the Serena Hotel at the introduction of the final design by the UK and Kenyan government members, Transport Principal Secretary Joseph Njoroge stated that the government is committed to ensuring the project's smooth execution. The Nairobi Railway project, which.... Read more »

Posted on : Tuesday , 24th May 2022

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