Market News Page No. 72| Africa Business News

Tanzanian infrastructure gets a big boost with a USD 44.5 million allocation

A USD 44.5 million budget has been announced by the Government of Tanzania for the construction, upgrading and rehabilitation of airports around its country in the upcoming financial year. This decision is purely aimed at improving the country's infrastructure and aviation industry. Isack Kamwelwe, the Ministry of Works, Transport and Communication revealed that out of USD 2.1 billion financial budget, a total of USD 1.9 billion will fund.... Read more »

Posted on : Tuesday , 18th June 2019

Kenya Discontinue Age Limit Law for Imported Second-Hand Cars

It was a comfort for importers of second hand vehicles after the government discontinued plans to cap the age limit for imported second-hand cars at 5 years from the present 8. While showing up before the Trade and Industries board of the National Assembly, Trade CS Peter Munya the cap was a proposition. “It is still in its draft structure and yet to undergo public participation,” said CS Munya. This was after the.... Read more »

Posted on : Friday , 14th June 2019

Ethiopia invites 12 international companies to bid in their energy sector

The Ethiopian government has officially extended an offer to at least 12 global companies to submit financial and technical proposals in order to be part of power production and operations in the country. This is in order to take the privatization process even further. According to the Minister of Finance (MoF), Ahmed Shidie, who presented his Ministry’s 10 month report before the House of People’s Representatives, a feasibility.... Read more »

Posted on : Friday , 14th June 2019

Industry leaders converge in Nairobi for the 22nd Buildexpo Kenya 2019 at KICC

The 22nd edition of Buildexpo Africa is back in Kenya at the KICC Nairobi. At East Africa’s largest building and construction fair, exhibitors from over 40 countries who are the finest in building, construction and infrastructure development will be showcasing their products, services and equipment. The event will also feature awards in innovation and design that will be presented to the most innovative products at the expo along with a.... Read more »

Posted on : Thursday , 13th June 2019

Construction of BRT system in full swing in East Africa

Successful demonstration of BRT was done by Dar es Salaam, which is the first city to launch a BRT system in East Africa. After the completion of the first phase of the 21 Km BRT in the Dar Es Salaam which includes five terminals, seven feeders, 27 stations and three connector stations. Currently, around 140 buses are running daily on their special lanes. On the same lines the national treasury of Kenya has allocated around USD 54 million for.... Read more »

Posted on : Monday , 17th June 2019

Equity Bank Partners with Toyota Kenya to Capitalize Clients

Equity Bank and Toyota Kenya Limited clients would now be able to access up to 95% financing payable within 60 months on the single cab Hilux pickups. This follows a partnership agreement signed between Equity Bank and Toyota Kenya that will see the two organizations capitalize businesses and people keen to grow but are frequently because of absence of enough capital. Talking at the launch function, Equity Bank Kenya Managing Director,.... Read more »

Posted on : Wednesday , 12th June 2019

Clarke Energy Installs a Multi-Engine Power Plant at Kioo Limited’s Glass Bottle Manufacturing Facility in Tanzania

Kioo Limited is the biggest manufacturer of glass packaging for the soft drink, alcohol and food industry in East and Central Africa. The multi-engine power plant installed by Clarke Energy has attain availability in excess of 95 per cent, with the two Jenbacher engines meeting the full, on-site power demand of the facility. A balanced power supply drastically improves product quality, compared to daily interruptions from an unreliable.... Read more »

Posted on : Wednesday , 12th June 2019

Kenya and Tanzania are pushing to resolve their long-standing trade disputes

Trade officials from the two countries held bilateral meetings in Arusha, in April, to try and determine and solve the many disputable trade issues, including rules of origin for some products and constant suspicion over the quality of products traded all over the borders. People familiar with the negotiations told The East African that the first bilateral meeting was held in September 2017 and the next meeting is planned for Mombasa in.... Read more »

Posted on : Tuesday , 11th June 2019

Development Finance Institution In UK to Invest $300m in African Power Networks

The UK government’s foreign investment tool, CDC Group, said it would provide more than $300m in a new business to expand electricity networks in Africa, which is one of the biggest hitches to economic development in the world’s indigent continent. CDC chief executive Nick O’Donohoe said, Gridworks Company to get launched soon, and it will make funding in power transmission and distribution infrastructure, as.... Read more »

Posted on : Monday , 10th June 2019

Gas Reserve Discovered in Ethiopia By British Company

NewAGE has discovered 1.6 trillion cubic feet of natural gas in a locality called Elkuran. The company has made the discovery near the site where the Chinse Poly GCL has started test gas production a year ago. Currently the Adigala and Ogaden blocks in Ethiopia are being operated by NewAge. Guang Tutlam (MD), the State Minister of Ethiopia’s Ministry of Mines and Petroleum. “We are now working on the gas commercialization and.... Read more »

Posted on : Thursday , 30th May 2019

Africa Eyeing To Multiply Solar Capacity Six-Fold By 2030

A new report presented by the German Solar Association (BSW-Solar) and the Becquerel Institute has disclosed that with the entry of many international investors and the competion for solar projects, Africa is on track to increase its current solar capacity six-fold or 30 gigawatts (GW) by 2030. In Consideration to the Solarise Africa Market Report, the solar potential in Africa is at least as great as the current demand. “We assume that.... Read more »

Posted on : Thursday , 30th May 2019

Volkswagen To Recover Investment in Rwanda

German car maker, Volkswagen (VW), taking a bet on the upward trajectory of car ownership, last year launched a US$20 million car assembly plant in Kigali, the capital of Rwanda in an expansion drive across Africa. Quickly after, VW also launched its robust mobility service, Move, with a new business model that has it controlling the entire value chain from providing its own cars to its own drivers. With its ride sharing and ride hailing.... Read more »

Posted on : Wednesday , 29th May 2019