Market News Page No. 60| Africa Business News

East Africa: Uganda, Tanzania to Become Oil Economies

Tanzania and Uganda are gearing up to become the region's oil economies with the latter signing a mega oil pipeline deal to transport Uganda's oil to its port of Dar es Salaam. The East African Community (EAC) is one of the fastest-growing economic blocs in the World. The pre-Covid-19 period saw the Economic Commission for Africa note that East Africa was actually the fastest growing economy compared to other regions on the.... Read more »

Posted on : Thursday , 21st April 2022

KENYA: Olkaria I Geothermal Power Plant Unit 6 (83 Mwe) Testing Begins

Kenya Electricity Generating Company (KenGen), the largest geothermal power producer on the African continent, has announced the completion of the Olkaria I geothermal power plant unit 6. Kenya is still ahead of the game in exploiting its geothermal potential. The East African country’s geothermal power generation capacity is increasing by 83.3 MWe. This is thanks to Unit 6 of the Olkaria I geothermal power plant, which is about to come.... Read more »

Posted on : Monday , 18th April 2022

KENYA: VR Holding to Convert Solid Waste into Electricity in Kakamega

A solid waste-to-energy project is starting in Kakamega, 7 years after its official presentation. The Swedish energy company VR Holding AB has been appointed by the Kenyan government to carry out the work, which will cost 6 billion Kenyan shillings, or about $53 million. Kenya will soon have a new solid waste-to-energy plant. The facility will be located in Kakamega County. The project is being implemented by VR Holding AB. The Bastad,.... Read more »

Posted on : Monday , 18th April 2022

BioNTech sets sights on oral mRNA vaccines with deal to access Matinas delivery technology

BioNTech has reached an agreement to investigate the oral delivery of mRNA vaccines. The German mRNA specialist will investigate the potential for a lipid nanocrystal (LNC) platform to enable new vaccine formulations in collaboration with Matinas BioPharma. BioNTech was thrust into the biotech big leagues by the pandemic, as the vaccine it found and produced with Pfizer became a cornerstone of COVID-19 vaccination.... Read more »

Posted on : Wednesday , 13th April 2022

Pfizer has committed R255 million to the South African pharmaceutical industry

This investment, according to Pfizer, will provide jobs and opportunity for highly qualified health professionals. Pfizer, a multinational pharmaceutical corporation, has announced that through its relationship with the Biovac Institute, it will spend R255 million in South Africa's pharmaceutical sector. Patrick van der Loo, Pfizer's regional president for Africa and the Middle East (AfME), made the news at the Sandton Convention.... Read more »

Posted on : Wednesday , 13th April 2022

Air Tanzania Company Limited (ATCL) is in the final stages of signing partnership agreements with Emirates and the Royal Dutch Airline- KLM

Air Tanzania Company Limited (ATCL) is nearing completion on cooperation agreements with Emirates and KLM Royal Dutch Airlines, which will allow customers to travel to locations in the United States and Europe. The national carrier also stated that it was nearing the end of discussions with China's aviation authorities over a similar arrangement. "These firms are the largest in the world," said ATCL managing director Ladislaus Matindi..... Read more »

Posted on : Wednesday , 13th April 2022

Minister for Africa visits to East Africa to strengthen economic ties

- Minister Vicky Ford visited to Kenya, Uganda, and Ethiopia to strengthen trade, educational, and health relationships, as well as tackle issues like conflict and drought. - Vicky Ford pledged £17 million in UK aid and one million COVID-19 vaccines to combat the region's drought. - The Minister also announced fresh investments in East Africa and spoke at the British International Investment (BII) regional launch, where she announced.... Read more »

Posted on : Wednesday , 13th April 2022

US$ 55M BOOST FOR DJIBOUTI-POWER SYSTEM INTERCONNECTION PROJECT

The World Bank's Board of Executive Directors has approved US$ 55M for the implementation of the Second Djibouti-Power System Interconnection Project which intends to strengthen regional connectivity between Ethiopia and Djibouti by improving low-cost and clean power transmission.The monies will particularly help fund the building of a second double-circuit high voltage energy power transmission line that will connect the high voltage substation.... Read more »

Posted on : Tuesday , 12th April 2022

Gold Sponsor Hd Led Aydinlatma A.S. All Set to Showcase LED Smart Lights at 07th Lightexpo Kenya 2022 from 12 to 14 May 2022 Nairobi Kenya

Hd Led Aydinlatma A.S, a Turkish company has signed up as gold sponsors at the most awaited event in Kenya “07th LIGHTEXPO, in order to explore and expand its magnificent foot holes in Africa market. HD LED LIGHTING brand is an organization where creative brain power, determination to work and knowledge come true.HD LED AYDINLATMA A.Ş. is a led lighting producer established 2017 in Istanbul/Turkey. Within 10.000 sqmt closed area producing.... Read more »

Posted on : Tuesday , 5th April 2022

Kenya's First Nuclear Plant Project Updates

The Nuclear Power and Energy Authority (NuPEA) has begun a thorough search for a suitable building location for Kenya's first nuclear power plant near the coast. According to NuPEA's Chief Executive Officer Collins Juma, the agency is presently undertaking a full site survey of the two regions to determine the optimal location for the 1000 megawatt nuclear power station, which is planned to begin in 2030. Kenya expects the nuclear power.... Read more »

Posted on : Friday , 1st April 2022

As new mine construction picks up speed, Akobo lays the foundation stone.

The foundation stone for Akobo Minerals' Segele mine in Ethiopia was laid at a ceremony. This is the beginning of the company's next phase of gold mining and production. Production is planned to begin by the end of 2022, with ramp-up continuing until 2023. Segele is expected to produce roughly 45,000 ounces of gold per year once it is fully operational. This might rise in the future, depending on new finds and processing facility.... Read more »

Posted on : Thursday , 31st March 2022

According to Tanzanian, Ugandan, and Guinean officials, Africa's future is bright, with ample investment prospects.

Three African officials stated during a discussion on the continent's development potential at the World Government Summit 2022 that the continent's future is 'bright,' with significant chances for foreign investment. Rt. Hon. Robinah Nabbanja, Prime Minister of Uganda, remarked that the "future of Africa is bright" during a session titled "The Rise of Africa: Strategies and Dynamics." 'The purchasing power is there,' she added, with.... Read more »

Posted on : Thursday , 31st March 2022