Market News Page No. 64| Africa Business News

KENYA: Alten Closes Financing For Its 55 Mwp Kesses Solar PV Plant

In Kenya, the Kesses solar project has reached a new stage. Its financing has just been completed following a financial mobilization that attracted 2 investors. This is the case of Standard Bank which arranged the transaction. The South African bank is also providing $41 million in debt including a term loan, a VAT (value added tax) and a debt service reserve facility. The bank will provide this financing through commercial banks CIB Bank.... Read more »

Posted on : Wednesday , 16th February 2022

KENYA: Three Solar Energy Providers Get CCISA Funding

In Kenya, 3 suppliers of solar energy for productive use will be supported by the Clean Captive Installations for Industrial Clients in Sub-Sahara Africa (CCISA) program. This initiative is implemented by the United Nations Environment Programme (UNEP) to provide clean energy to industrial and commercial (C&I) customers. As in most African countries, solar energy is gaining momentum in Kenya. The United Nations Environment Programme.... Read more »

Posted on : Wednesday , 16th February 2022

Government to Rehabilitate 363 Kilometers of old MGR Lines in Kenya

The government through Kenya Railways Corporation, the national railway of Kenya that is also known as Kenya Railways, is set to spend close to US$ 40M to rehabilitate a total of 363 kilometers of old railway lines, which are currently dilapidated, vandalized, or overgrown with vegetation, in the country. The lines include the 217km Nakuru-Kisumu meter-gauge railway (MGR), the 77.8km Gilgil-Nyahururu MGR branch line, and the 69.05.... Read more »

Posted on : Wednesday , 16th February 2022

Ethiopia: Russian Company Keen to Invest In Ethiopia's Energy Sector

Major Energy Company of Russia keen to invest in Ethiopia, Ministry of Foreign Affairs said. The Ministry disclosed that one of the major energy companies in Russia, Energy solutions, electro technical holding company ERSO, has shown interest to invest in the energy sectors of Ethiopia. Ethiopian Embassy in Russia has briefed investment opportunities in the Energy sector in Ethiopia for company's management recently that led by Mr..... Read more »

Posted on : Tuesday , 15th February 2022

Tanzania: Upgrade to Boost Power Supply

The Tanzania Electric Supply Company (TANESCO) is upgrading its power production stations to boost electricity generation in the country. The power stations currently under extension include Kinyerezi I which will generate 185 MW and Ubungo III 112 MW. Maharage Chande, Director General of TANESCO told journalists during a tour to inspect the work progress that to date power generation from Ubungo III has reached 60 MW which have.... Read more »

Posted on : Tuesday , 15th February 2022

President Kenyatta states that strong bilateral ties between Kenya and Hungary are centered on trade.

Nairobi - Kenyan President Uhuru Kenyatta has praised the country's strong bilateral ties with Hungary, stating that the relationship is primarily driven by economic cooperation, trade, and investment. Kenyatta, on the other hand, bemoaned the low levels of commerce and investment between Nairobi and Budapest over the last five decades, despite the fact that the two cities had enormous commercial potential. The balance of trade between.... Read more »

Posted on : Friday , 11th February 2022

Kenya and European Union have begun talks to strengthen ties "beyond aid."

Kenya and the European Union have begun crucial negotiations to move their relationship beyond aid and toward long-term peace and development. Kenya's Cabinet Secretary for Foreign Affairs signed a joint declaration in Nairobi with visiting EU top diplomat Josep Borrell Fontelles to formally begin discussions on a Strategic Dialogue, a guiding text that may steer relations to "shared issues." Mr. Fontelles, the EU's High Representative.... Read more »

Posted on : Friday , 11th February 2022

Tanzanite Bridge starts operation today

Construction of the new Tanzanite Bridge in Dar es Salaam is complete, on the stroke of midnight on February 1, operations of the new bridge kicked off allowing motorists access they have been waiting for.The New Selander Bridge has combined the characteristics of a girder bridge and a cable-stayed bridge to make it lighter. The technique enhances construction and economic feasibility, according to the builder.Works minister Mbarawa had on.... Read more »

Posted on : Friday , 4th February 2022

Tanga Fresh a Tanzanian dairy processor receives a second round of funding from DOB Equity.

DOB Equity, one of the leading Dutch family-backed impact investors in East Africa, has announced an additional investment in Tanga Fresh, a Tanzanian dairy processor.DOB's additional investment is expected to assist Tanga Fresh in expanding its production in the long-life milk market. East African consumers are increasingly shifting away from fresh milk and toward long-life milk, presenting a significant opportunity for market growth.Tanga.... Read more »

Posted on : Tuesday , 1st February 2022

Construction of the Singida Gold Project is on schedule to begin in 2023.

Shanta Gold (AIM: SHG), an East Africa-focused gold producer, developer, and explorer, has released an update on the construction progress at the Singida Gold Project in Central Tanzania, indicating that first gold production will occur in early 2023. In October of 2020, work on the Singida gold project was started. 'The promising findings of our grade control drilling at Singida strengthens our confidence in the robustness of the.... Read more »

Posted on : Tuesday , 1st February 2022

Africa aspires to be the world leader in processed tropical wood by 2023.

Gabon's wood sector aspirations are outlined in the '2022-2023 acceleration plan.' This strategy intends to promote Gabon's economic diversification. The goal of the country is to become the world leader in processed tropical wood. 'We are already Africa's biggest manufacturer of plywood. We can be the world leader in processed tropical wood by 2023,' declared the Prime Minister on January 18 as he presented this growth vision. Gabon.... Read more »

Posted on : Tuesday , 1st February 2022

Tanzania signs a USD 1.9 billion contract to complete the third phase of the SGR Railway.

Tanzania's President, Samia Suluhu Hassan, observed the signing of the agreement for the building of the third section of the Standard Gauge Railway (SGR) linking Makutupora to Tabora on December 28, 2021. Tanzania Railways Corporation (TRC) and Yapi Merkezi of Turkey inked the deal during a ceremony at the State House in Dar es Salaam. The section's construction, which includes 294 kilometers of mainline and 74 kilometers of.... Read more »

Posted on : Tuesday , 1st February 2022