Market News Page No. 65| Africa Business News

Kenya to Double Oil Handling Capacity with New Kipevu Terminal

Kenya will double capacity of handling transit petroleum products starting this month from the current 35,000 tonnes as the Sh40 billion new Kipevu Oil Terminal in Mombasa is complete. President Uhuru Kenyatta is scheduled to inspect the facility accompanied by Chinese State Councilor and minister of Foreign Affairs Wang Yi and to conduct a dry run test. The new oil terminal, which is financed by Kenya Ports Authority (KPA) and.... Read more »

Posted on : Friday , 21st January 2022

Chinese-Built Oil Terminal at Kenyan Mombasa Port to Be Complete in July

The Chinese-built oil terminal at Kenya's Mombasa port is expected to be operational in July this year, Kenyan President Uhuru Kenyatta said on 6th January 2022. The construction of the 770-meter long offshore jetty, currently at 96% completion, was wholly funded by the Kenya Ports Authority and implemented by China Communications Construction Co., the presidential office said in a statement. The new jetty, the largest of its kind in.... Read more »

Posted on : Friday , 21st January 2022

ETHIOPIA: Production Testing Begins For the Great Renaissance Dam

The Ethiopian government has completed preparations for the start of a production test of the Grand Ethiopian Renaissance Dam (GERD). If successful, the first 2 units of the hydropower plant will come on stream. Addis Ababa is about to take the next step in the construction of the Grand Ethiopian Renaissance Dam (GERD). On the construction site, preparations for a test of electricity production are completed, according to our colleagues of.... Read more »

Posted on : Thursday , 20th January 2022

Kengen to Inject 83 Extra Megawatts to the National Grid

Kenya Electricity Generating Company (KenGen) will pump an extra 83MW of geothermal power into the national grid by this month. KenGen CEO Rebecca Miano said works on the Olkaria I unit 6 are at an advanced stage as part of plans to replace thermal power with green energy. Speaking over the weekend after a visit to Olkaria, Naivasha, Miano said the plant would help push down the cost of electricity. “We are at an advanced stage.... Read more »

Posted on : Thursday , 20th January 2022

In a move to facilitate trade between Kenya and China, the Kenya China Chamber of Commerce (KCCC) has opened an office in Beijing.

The newly opened office will play a critical role in unblocking the trade challenges between the two countries, at this time when the movement of goods and people has been affected by the COVID-19 pandemic. Speaking at the Nairobi China Trade Investment Forum, KCCC Chairman Tim Chen, said that the Beijing office will focus on supporting businesses in two countries. "The last two years has been challenging to both Chinese.... Read more »

Posted on : Thursday , 20th January 2022

BRD To Provide A Total Grant Of Rwf1 Billion Through The Renewable Energy Fund Project Towards Lighting Up An Initial 10,000 Families In Rwanda

The beneficiaries so far include individual commitments for 1,120 families and commitments for 2,000 families by companies.Overall, more than 700 people and companies had participated in the challenge as of December 29.A solar home system under this plan consists of a minimum of three lights, one radio, one torch lamp, and a USB plug to charge mobile phones using solar [panel] energy.The #canachallenge is a campaign through which an organisation.... Read more »

Posted on : Thursday , 20th January 2022

UK firm set to design Sh28bn Railways City

A plan to build a Sh28 billion city has moved a notch higher after the Nairobi Metropolitan Service in partnership with Kenya Railways picked UK firm Atkins Global to design the project.The deal will see the firm design the iconic Nairobi Railways City, multi-modal urban development project which will be situated in Nairobi at an unknown cost.The project will be situated within 425-acres, of which 292 acres is owned by the Kenya Railways and.... Read more »

Posted on : Wednesday , 19th January 2022

RWANDA: BRD Prepares Third Tender for Off-Grid Photovoltaic

The Development Bank of Rwanda (BRD) is seeking consultants to prepare the 3rd tender of the $48.9 million Renewable Energy Fund (REF). The initiative aims to deploy PV and mini-hydro grids with a capacity of 10 kW to 1 MW across the country. These hybrid mini-grids will be coupled with battery storage. The selected consultant will be responsible for evaluating pre-feasibility and feasibility studies, and loan applications for.... Read more »

Posted on : Wednesday , 19th January 2022

Kengen Ramps up Plans to Build Solar Panel Production Plant

Electricity generating firm KenGen is gearing up to start production of solar panels. The company is looking to tap into the growing demand for solar power products locally while diversifying its revenue streams. KenGen in December 2021 started the search for a company to construct a manufacturing plant at its Tana Power Station in Murang’a County. “Over the years, KenGen has invested heavily in the generation of.... Read more »

Posted on : Wednesday , 19th January 2022

Tanzania Sign USD 1.9B Contract to Build 3rd Phase of SGR Railway

On 28th December 2021, the President of Tanzania Samia Suluhu Hassan witnessed the signing of the agreement for the construction of the 3rd phase of the Standard Gauge Railway (SGR) connecting Makutupora to Tabora. The agreement was signed between the Tanzania Railways Corporation (TRC) and Yapi Merkezi of Turkey at a ceremony held at the State House in Dar es Salaam. The construction of the section includes 294 km of main rail and 74.... Read more »

Posted on : Tuesday , 18th January 2022

Tanzania Exports Up 13% In YE November 2021, Tourism Income Up 48%

The Bank of Tanzania (BOT) Monthly Economic Review-December 2021 indicates that in the year ending November 2021 exports of goods and services amounted to US$ 9,789.9 million, higher than US$ 8,614.6 million in the corresponding period in 2020. The growth was driven by a rise in exports of non-traditional goods, travel receipts and transportation. Tanzania Exports of Goods Year Ending November 2021 Exports of goods.... Read more »

Posted on : Tuesday , 18th January 2022

10,000 CBC Classrooms in Kenya to Be Constructed By End Of 2022

Education Cabinet Secretary (CS) Prof. George Magoha recently announced that a total of 10,000 Competency-Based Curriculum (CBC) Classrooms in Kenya, will be constructed before the end of 2022 for occupation by Junior Secondary Schools learners come January 2023. Magoha made the announcement while speaking after breaking grounds for the construction of two classrooms at the Mombasa Secondary School for the physically handicapped, and.... Read more »

Posted on : Thursday , 13th January 2022