Market News Page No. 63| Africa Business News

Tanzania: Over TZS 180bn Allocated To Electrify 1,956 Villages

The government through the Ministry of Energy has allocated TZS 181 billion for rural electrification in the 2021/22 fiscal year. Minister for Energy, Dr Medard Kalemani told the parliament on 2nd June 2021 that all villages will be electrified by the end of year 2022. Tabling his ministry's TZS 2.3 trillion budget, Dr Medard Kalemani said at least 1,956 villages are yet to be connected with electricity, and that with the coming fiscal.... Read more »

Posted on : Friday , 18th June 2021

Wind Farm at Lake Turkana Recorded A High Capacity Factor

Earlier this year, the Lake Turkana Wind Power farm, consisting of 365 turbines, recorded its highest capacity factor rating. In March 2021, the Lake Turkana Wind Power plant's consortium announced that it had recorded a "good month" having achieved an average capacity factor of 75.8 per cent, "the highest in the last 31 months that we have been in operation." The capacity factor is a unit less measurement of how much electricity a.... Read more »

Posted on : Friday , 3rd September 2021

Kenya secures US $13m for Mombasa LPG project

Kenya has secured US $13m for the construction of the Mombasa liquefied petroleum gas (LPG) import and storage terminal project The funds was injected by the International Finance Corporation (IFC)– World Bank private financing arm. Mombasa Gas Terminal (MGT) Managing Director Eng. Julius Riungu confirmed the report and said the funding paves way for the completion of the project’s first phase “We embarked on the Mombasa Gas.... Read more »

Posted on : Thursday , 17th June 2021

Sh2.5 billion loan has been approved for the construction of a gas hub in Mombasa, Kenya.

Mombasa Gas Terminal Limited (MGT) has received a Sh2.5 billion loan from the World Bank's private lending arm to build a liquefied petroleum gas terminal in Mombasa's port.The International Finance Corporation announced the money on June 2 after the company received regulatory approval from the national and county governments to start building."The second phase will complete the storage capacity to 22,000 metric tonnes or more with annual.... Read more »

Posted on : Tuesday , 15th June 2021

Kenya, Burundi sign deals to boost economic ties

Kenya and Burundi have inked bilateral trade and investment agreements in order to boost economic links between the two East African Community member countries. Presidents Evariste Ndayishimiye and Uhuru Kenyatta signed agreements on agriculture, livestock and fisheries, public service, foreign affairs, commerce, sports, and culture during a bilateral meeting in Kisumu's State Lodge. The two presidents also instructed their respective.... Read more »

Posted on : Tuesday , 15th June 2021

G7 DFIs & partners to invest over $80b in Africa’s private sector

The G7 nations, in collaboration with multilateral partners, have pledged to invest $80 billion in Africa's private sector. The G7 Development Finance Institutions (DFIs), including the UK's CDC Group, will assist sustained economic recovery and growth in Africa with this investment, which will be phased in over the next five years. The International Finance Corporation of the World Bank, the African Development Bank, the European.... Read more »

Posted on : Tuesday , 15th June 2021

Bugesera International Airport phase 1 to be delivered by Dec 2022

The first phase of Bugesera International Airport in Rwanda will be delivered by December this year according to Hon. Claver Gatete, the Rwandan Minister of Infrastructure. The minister made the announcement during the recent 5-day Executive Workshop of the Union of Central and West African Airport Managers (UGAACO) that aims to improve skills for the efficient management of airports and ensuring an appropriate degree of global.... Read more »

Posted on : Friday , 11th June 2021

Tanzania gears towards Covid-19 vaccination

Once considered as the staunch anti-Covid country, Tanzania is gearing towards vaccination after a team of health experts handed in their report on how to roll out mass inoculation to President Samia Suluhu. The report comes a month after a special committee of experts handed in another report evaluating the Covid-19 situation in the country. The Tanzania daily The Citizen revealed that among other things, the team, chaired by Prof.... Read more »

Posted on : Friday , 11th June 2021

Tanzania gears towards Covid-19 vaccination

Once considered as the staunch anti-Covid country, Tanzania is gearing towards vaccination after a team of health experts handed in their report on how to roll out mass inoculation to President Samia Suluhu. The report comes a month after a special committee of experts handed in another report evaluating the Covid-19 situation in the country. The Tanzania daily The Citizen revealed that among other things, the team, chaired by Prof.... Read more »

Posted on : Friday , 11th June 2021

Construction of Msalato International Airport in Tanzania to start soon

The construction works of the proposed Msalato International Airport (MSIA) in Tanzania are expected to start after this financial year according to the Tanzania Airports Authority. This will probably come following the approval of the 2021/22 budget that was recently presented to the East African country’s parliament by the Ministry of Works and Transport. In the over US$ 1.6bn budget, the Ministry has allocated close to US$ 14M to.... Read more »

Posted on : Friday , 11th June 2021

Tanzania May Start Building $30 Billion LNG Project in 2023

Tanzania plans to begin the construction of a delayed $30 billion liquefied natural gas project in 2023, following the resumption of talks with companies including Equinor ASA.Construction is expected to take about five years, Energy Minister Medard Kalemani told lawmakers last week.The project gained momentum after President Samia Suluhu Hassan took office in March, and directed her administration to fast-track delayed investments. Plans.... Read more »

Posted on : Thursday , 10th June 2021

Power Integrations Supports Electric Vehicle Designs

The automotive-qualified InnoSwitchTM3-AQ flyback switcher from Power Integrations, the pioneer in high-voltage integrated circuits for energy-efficient power conversion, was launched. The IC family now includes a member rated at 900 V, allowing for more headroom in inverter, battery management, and climate control applications for 400 and 800 V electric vehicles.The InnoSwitch3-AQ family is a single IC that integrates primary and secondary.... Read more »

Posted on : Friday , 4th June 2021