Market News Page No. 59| Africa Business News

A South Korean producer of medical equipment plans to invest in Tanzania

A Korean company, dealing in manufacturing of medical facilities, will invest in Tanzania as it requests to get a share of the East African country’s remunerative pharmaceutical market. South Korean producer of medical equipment eyes Tanzania. The Radian Qbio managing director, Prof Sang Young said that his firm was interested in selling and investing in setting up a plant to manufacture medical equipment in Tanzania. The.... Read more »

Posted on : Wednesday , 24th April 2019

EA Oil Pipeline Project to be Arbitrated by London

Due to end months of haggling between the governments and oil companies, the UK will host arbitration talks in case of disputes arising out of the East African crude oil pipeline project. During a technocrats meeting held in Kampala in January, arbitration was one of the issues that were deferred Should any dispute arise, the arbitration will be done in London. Tanzania had said that it would host the arbitration, but the other partners.... Read more »

Posted on : Wednesday , 24th April 2019

Ncondezi and GridX Partner Up to Invest in Africa's Vast Solar Landscape

British based company, Ncondezi Energy entered into an agreement with GridX Africa, a private power producer to form a joint venture which would specialize in installing solar mini grids for businesses and shops acroos Africa. This new alliance emerging in the solar energy sector of Africa aims to conquer the vast potential of the African solar and energy storage market. In particular, both companies want to supply mini-grids with.... Read more »

Posted on : Wednesday , 24th April 2019

KENYA MINING INDUSTRY SET FOR A BOOM AS GOVERNMENT INVESTS INTO THE SECTOR

The Petroleum and Mining Ministry has been focusing on helping small scale miners in the west of the country Kenya and is now planning to set up a gold refinery. Seeking professional advise on its construction the government is inviting consultants. Though its mining sector is a relatively a small contributor to national output, Kenya has proven deposits of coal, gold, and titanium. However, a decent growth in revenue is expected as new mines.... Read more »

Posted on : Tuesday , 23rd April 2019

ROBUST LOCAL VEHICLE ASSEMBLY SECTOR WILL ENABLE KENYA TO INCREASE EXPORTS

Kenya is planning to develop a policy that will boost motor vehicle exports to East African countries. Mr. Stephen Odua the director of private sector development at the Ministry of Industry, Trade and Cooperatives told journalists in Nairobi that all relevant stakeholders are currently reviewing the national automotive policy. The country's exports of automotive products to the East African Community bloc will increase from the current five.... Read more »

Posted on : Tuesday , 23rd April 2019

KENYA ON THE CUSP OF AN UNPRECEDENTED CONSTRUCTION BOOM

The central pillar of Kenya’s Vision 2030 infrastructure development is among the strong holds and in 2015 the USD 3 bn construction sector contributed 4.8% to the Kenyan economy. According to a recent survey 148,000 people are formally employed in the domestic building and construction industry. Although building and construction contractors are required to be registered with the National Construction Authority (NCA), companies.... Read more »

Posted on : Monday , 22nd April 2019

Kenya Mulls Policy to Boost Automotive Exports in East Africa

Kenya is preparing to expand a policy that will boost motor vehicle exports to East Africa. Stephen Odua, director of private sector development at the Ministry of Industry, Trade and Cooperatives told journalists in Nairobi that all admissible stakeholders are presently examining the national automotive policy. "When in place the new policy will assist Kenya to scale up local production of vehicles so that the country's exports of.... Read more »

Posted on : Monday , 22nd April 2019

WITH GOVERNMENT SUPPORT SAWMILL EAST AFRICA STARTS LOCAL OPERATIONS

In a deal aimed at adding value to the forestry sector, to promote imports and reduce the country’s exports bill on timber. Sawmill East Africa is set to build a wood processing factory in an agreement which was signed between Sawmill East Africa and the Government of Rwanda to harvest and manage four state forests. The agreement was signed between the Government, through Rwanda Development Board, the Ministry of Land and Forestry on.... Read more »

Posted on : Monday , 22nd April 2019

ACUMEN RAISES $70 MILLION TO FUND CLEAN ENERGY IN EAST AFRICA

Acumen is a New York based non profit company that invests in sustainable and socially minded companies around the world. Established in 2001, Acumen has invested more than $115 million in 113 companies across Africa, Latin America, South Asia, and the United States Acumen Capital Partners a subsidiary of Acumen recently announced a $70 million funding for KawiSafi ventures aimed at driving energy access across East Africa in a bid to scale the.... Read more »

Posted on : Friday , 26th April 2019

Lighting Up Over 200,000 Rwandan Households in a Sustainable Way

As a part of the national electrification program The Electrogaz Compact Fluorescent Lamp Distribution Project distributes high efficiency and high quality compact fluorescent lamps (CFLs) to urban and rural residents across Rwanda. Both new customers and those already connected to the power grid are targeted by this project. To teach them to use electricity more efficiently by replacing traditional light bulbs it helps clients lower their.... Read more »

Posted on : Thursday , 18th April 2019

RWANDA SEEKS SOLAR ENERGY PRODUCTS IN A BID TO MEET 100% ELECTRIFICATION

The entrance to the first major solar power farm in East Africa reads a sign “Arise, shine for your light has come.” From a bird’s-eye view, the 8.5 megawatt (MW) power plant in Rwanda is designed it resembles the shape of the African continent. Amid Rwanda’s famed green hills, within view of the Lake Mugesera the setting is magnificent which lies 60km east of the capital Kigali. Above wild grass where inhabitants include.... Read more »

Posted on : Thursday , 18th April 2019

RWANDA LOOKS TO TECHNOLOGY TO BOOST TRANSPARENCY AND PRODUCTION IN MINING

Being among the fastest growing economies in Africa, Rwanda has a great opportunity of using its mineral resources to drive its industrialization, diversification and overall economic transformation. Rwanda is looking for more investors in the mining industry to boost the country's mineral exports and increase revenues from mineral resources, said the head of the state mining development body, the Chief Executive Officer of Rwanda Mines,.... Read more »

Posted on : Friday , 26th April 2019