Market News Page No. 67| Africa Business News

India, Kenya To Explore Closer Maritime Security, Diversify Trade And Investment

India and Kenya will explore closer security cooperation, especially in the maritime domain, diversify 2 way trade and set up joint ventures as part of a comprehensive partnership. The agreement was reached following extensive talks External Affairs Minister S Jaishankar had during his 12-14 June visit to the East African country. The visit was significant as it took place ahead of the 4th India-Africa Summit New Delhi plans to host.... Read more »

Posted on : Thursday , 24th June 2021

Kenyan Trade Lobby To Promote Imports Of Chinese Machinery To Boost Industrial Sector

The Kenya National Chamber of Commerce and Industry (KNCCI), a business trade lobby, plans to promote imports of advanced Chinese machinery in order to boost the country's industrial sector, an official said on 2nd June 2021. Kariuki Theuri, chairman of economic diplomacy committee with KNCCI, told journalists in Nairobi that Kenya heavily depends on foreign manufactured goods. "We will promote imports of modern machinery from China in.... Read more »

Posted on : Thursday , 24th June 2021

Tanzanian Wood and Furniture Industries

Sawmilling and wood planing, veneer sheets and wood-based panels, builders' woodwork and joinery, wooden containers, various wood goods, and furniture are all part of the wood and furniture sector in Tanzania. The manufacture of wood and furniture is one of Tanzania's oldest businesses, with the first sawmills opening in the late 1950s and early 1960s. Furniture firms were nationalised in the 1960s and then restored to the private sector.... Read more »

Posted on : Thursday , 24th June 2021

Construction of longest bridge in Tanzania on track

Construction works on the longest bridge in Tanzania is on track. The country’s President Samia Suluhu inspected the works and confirmed the project stands at 27% complete. The government inked a contract with two Chinese contractors-the China Civil Engineering Construction Group (CCECG) and China Railway 15th Bureau Group Co Ltd for the execution of the bridge dubbed ‘Kigongo-Busisi Bridge’. The bridge plan dates back to 1977.... Read more »

Posted on : Thursday , 24th June 2021

Firm in Tanzania Introduces Low Cost, Time Saving Construction Technology

Locally owned Tanzania Company has recently introduced a new road construction technology which is known as Cold Mix Asphalt Technique (CMA), to Tanzania National Roads Agency (Tanroads) and other stakeholders with the determination of cutting down construction costs and to protect and conserve the environment as well as save time.The Company's top official, stated during construction stakeholders' meeting that low cost comes in as CMA needs no.... Read more »

Posted on : Wednesday , 23rd June 2021

Expansion of US $2bn Rironi-Mau Summit highway in Kenya to begin in September

Expansion works on the US $2bn Rironi-Mau Summit highway in Kenya is set to begin in September this year. This is according to Transport Cabinet Secretary James Macharia.“We are set for expansion of the Rironi-Maai Mahiu-Naivasha highway this September. It will improve connectivity between Central and Eastern Kenya and the Rift Valley and Western Kenya regions, and will reduce congestion on the Northern Corridor,” said CS Macharia.The.... Read more »

Posted on : Tuesday , 22nd June 2021

TANZANIA: IDA Finances the Integration of Solar Energy Into the Zanzibar Grid

The Zanzibar authorities are receiving strong support in their electrification process. The support comes from the World Bank Group, which has just approved USD 142 million for the modernisation of the local electricity network and the integration of renewable energy. Of this funding, USD 117 million represents a credit from the International Development Association (IDA). The remaining USD 22 million is a loan from the Clean Technology Fund.... Read more »

Posted on : Thursday , 24th June 2021

TANZANIA: Dodoma Agrees With AFD on A 150 Mwp Solar Plant in Kishapu

The loan agreement was signed recently in the Tanzanian capital Dodoma between the Permanent Secretary of the Ministry of Finance and Planning, Emmanuel Tutub, Frederic Clavier, the French Ambassador to Tanzania and Stephanie Mouen Essombe, the Director of the French Development Agency (AFD) in Tanzania. The French bank is validating a 130-million euro loan for the construction of a 150 MWp solar power plant. The French Development Agency.... Read more »

Posted on : Thursday , 24th June 2021

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