Market News Page No. 58| Africa Business News | Afrotrade

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N e w s

Kenya's first Sh1.5 trillion high-speed highway

The Nairobi-Mombasa Expressway project to be executed by Bechtel Corp has revised it's plan to build the motorway and recoup its costs through tolls. The American contractor contracted to build the 473-kilometer expressway has estimated that the Public Private Partnership (PPP) model will cost Sh1.5 trillion — five times the budget. According to the Parliamentary Budget Office (PBO), Bechtel now wants the government to directly fund the.... Read more »

Posted on : Tuesday , 26th October 2021

TNBC announces ambitions to establish wood-product manufacturing plants.

Dr. Ezekiel Mwakalukwa, Chairman of TNBC's Forestry Working Group, stated in Dar es Salaam. Ben Mfungo Sulus, co-chair of the working group, and Dr. Godwill Wanga, executive secretary of the TNBC, are with him. The Tanzania National Business Council (TNBC) is launching a program to encourage the creation of Engineered Wood Products manufacturing units (EWPs). TNBC has developed a particular strategy to encourage the creation of EWPs in.... Read more »

Posted on : Tuesday , 26th October 2021

Tanzanian agro areas to receive a Sh575 billion investment

Tanzania's agro-industrial education and agro-management skills will receive a $250 million (Sh575 billion) investment from Aie Holding Ltd. The company, which was founded in Tanzania last year, plans to invest in agricultural education, logistics, a vegetable oil plant, a feed mill, packing and storage, solar power, a cattle farm, a poultry farm, a fish farm, field crops, tropical fruit concentrate, solar power, and wastewater treatment,.... Read more »

Posted on : Monday , 25th October 2021

Kenya: Sanergy receives $2.5 million for fertiliser and protein production.

A new investor is interested in Sanergy. The U.S. Company is promoting an innovative approach to the circular economy in developing countries, including Kenya. The Japan International Cooperation Agency (Jica) is investing $2.5 million in Sanergy’s capital. This equity investment will enable Sanergy to provide more fertilizer for agriculture and insect protein for animal feed. In Kenya, Sanergy already has a faecal sludge treatment plant.... Read more »

Posted on : Monday , 25th October 2021

Australian firms eye Kenyan healthcare industry

As demand for medical services grows as a result of the Covid-19 pandemic, Kenya's healthcare system is drawing investment from Australia. According to Luke Williams, Australia's High Commissioner to Kenya, the two nations are discussing collaboration in a variety of sectors, including medical staff skill development, universal healthcare, including cheap healthcare insurance, and research. "Australian healthcare companies were.... Read more »

Posted on : Friday , 22nd October 2021

USAID is launching 13 new health projects in Kenya

The United States is following through on its promise to guarantee that Kenyans drive development. The United States Agency for International Development (USAID) is establishing 13 new health initiatives in Kenya that will be executed by Kenyan-owned, Kenyan-led, or Kenyan-managed enterprises. More than 90% of USAID financing for HIV treatment delivery in Kenya comes from the President's Emergency Plan for AIDS Relief (PEPFAR). “The US.... Read more »

Posted on : Friday , 22nd October 2021

Kenya aims to double domestic car assembly by 2025.

Kenya is relying on its national automotive strategy to support the sector, with plans to increase output over the next four years and reduce reliance on used imported automobiles.The strategy, which was proposed in 2019 and was approved by the Cabinet, aims to increase the number of cars made domestically while also creating more employment in vehicle assembly.According to Industrialization Trade and Enterprise Cabinet Secretary Betty Maina,.... Read more »

Posted on : Friday , 22nd October 2021

Kenya & Barbados Sign Bilateral Trade Agreements

Kenya and Barbados have signed 3 key bilateral agreements for cooperation in aviation, environmental conservation, trade and investment. President Uhuru Kenyatta and Prime Minister Mia Amor Mottley witnessed the signing of an air services agreement, a MoU on the development of the national botanical garden of Barbados, and another one on the establishment of a Joint Committee on Trade and Investment in Bridgetown, Barbados. President.... Read more »

Posted on : Friday , 22nd October 2021

PCK Signs A Deal With Swift Lab- A Kenyan Drone Firm

Under the 3-year agreement, Swift Lab Limited, a Kenyan cargo drone company will manufacture and operate drones that can travel up to 70km and carry a payload of up to 4kg. “We want to invest in the production of drones, it is not only our obligation as government to invest in Kenyan technology, but we are also keen on clawing back our market position as the courier and logistics services provider of choice,” said Dan Kagwe, the CEO and.... Read more »

Posted on : Friday , 22nd October 2021

Ghana is an Appealing Upstream Option For East Africa’s Hegemony

For the past two decades, Africa has been seen as the new frontier of oil and gas exploration, with many of the world's largest oil and gas firms vying to buy properties in an as-yet untapped store of natural resources critical to our way of life.While the East African powerhouse of Kenya, Uganda, Rwanda, Burundi and Tanzania have since seen massive development in their oil and gas infrastructure, Ghana has emerged as an alternative destination.... Read more »

Posted on : Friday , 22nd October 2021

Tullow Oil Announces a New Plan for the Kenya Project and Reports a Profit in the Interim

Tullow Oil returned with a first-half profit and a development plan for its Kenya operation on Wednesday, pushing shares in the Africa-focused company up as much as 9%.Tullow and its joint venture partners have finished the redesign of the Kenya development project, according to the business, which also stated that the project's total gross capex is estimated to be around $3.4 billion, which is higher than the prior estimate.The company which.... Read more »

Posted on : Friday , 22nd October 2021

KENYA: Co-Operative Bank Secures $7.5m Guarantee For Green SME Finance

The African Guarantee Fund (AGF) has signed a loan portfolio guarantee agreement with the Co-operative Bank of Kenya (CBK) for $7.5 million. The guarantee facility will enable CBK to finance green small and medium-sized enterprises (SMEs), particularly in the supply of solar photovoltaic energy. The Co-operative Bank of Kenya, a Nairobi-based financial institution, is launching a new range of bank loans for Kenyan small and medium-sized.... Read more »

Posted on : Thursday , 21st October 2021

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