Market News Page No. 74| Africa Business News

Spudding-In Marks Progress for Tanzania’s Geothermal Aspirations

The principal research and innovation engineer at Tanzania Geothermal Development Company, Eng. Chagaka Kalimbia announced on LinkedIn the successful spudding-in of the 1st geothermal well in Tanzania. The well Kiejo-Mbaka KMB-01 was spud-in on 22 March 2021 at around 11:09 am EAT stated Eng. Kalimbia, the project lead. The planned works on the project currently consist of drilling 3 shallow wells each to a maximum measured depth of.... Read more »

Posted on : Friday , 26th March 2021

TGDC plans to produce 200MWe of geothermal energy by 2025

The Tanzania Geothermal Development Company (TGDC), a subsidiary of the state-owned Tanzania Electric Supply Company (Tanesco), plans to produce 200MWe of geothermal energy by 2025. According to TGDC’s managing director Kato Kabaka, the company is planning to enter into an agreement with a local company to carry out shallow well drilling tests for research purposes on our Kiejo-Mbaka project in Busokelo council, Rungwe district, Mbeya.... Read more »

Posted on : Thursday , 25th March 2021

M3 Inc. of Japan to invest in Africa Health Holdings Ltd.

M3, Inc., a medical Web portal headquartered in Tokyo, has announced that its multi-stage corporate venture fund 1P1Y will invest in Africa Health Holdings Ltd, which runs medical facilities in Ghana, Nigeria, and Kenya. M3 will use this investment to improve the effectiveness and complexity of Africa Health's infrastructure, as well as to support its expansion plans. M3 will support Africa Health by leveraging its physician platform and.... Read more »

Posted on : Wednesday , 24th March 2021

Ghana's health startup mPharma launches in Ethiopia

Belayab Pharmaceuticals has signed a franchise agreement to open Haltons Pharmacies in Ethiopia with Ghanaian health tech startup mPharma. Under the terms of the agreement, mPharma will use its technology platforms, expertise, and extensive experience working with hospitals and retail pharmacies across Africa to help Ethiopia achieve universal medical coverage for all of its patients. mPharma and Belayab Pharmaceuticals are preparing.... Read more »

Posted on : Wednesday , 24th March 2021

Africa's Mining firms are switching to Green Mining using earth-friendly product alternatives

The mining industry should be leading the way in exploiting the earth's wealth in more environmentally friendly ways, given its major duty to both man and nature. It is, after all, one product, one step at a time. In terms of global industrial growth, the mining industry is significant. Mining is important to human development because it provides mineral and other services to the world's diverse construction and manufacturing.... Read more »

Posted on : Wednesday , 24th March 2021

Kenya's construction sector is expected to grow

Kenya's construction industry is currently booming. The Kenyan government has invested heavily in the construction sector in order to upgrade infrastructure such as road networks while also providing new residences for locals (who are supported by banks in obtaining loans to buy apartments/cars). The real estate and construction industries, according to the Kenya National Bureau of Statistics, have been some of the main drivers of economic.... Read more »

Posted on : Tuesday , 23rd March 2021

Dar Port Extends the Types of Cargo it can Handle

The port of Dar es Salaam has declared that the categories of cargo cleared would be extended to include fertilizer, industrial and domestic sugar, edible or cooking oil, wheat oil products, coal, liquefied petroleum gas, chemicals, and any liquid-related products.Tanzania Shipping Agencies Corporation informed stakeholders that the organization would begin implementing its mandate of clearing additional goods on March 15. “In light of.... Read more »

Posted on : Monday , 22nd March 2021

Ethiopia lays foundation stone for Lemmi Industrial Complex construction

The government of Ethiopia led by President Sahlework Zewde on Thursday 4th March 2021 laid a foundation stone for the construction of Lemmi Industrial Complex project in Ensaro district of Lemi town in the central region of the East African country.The facility will be built on a 270 hectares piece of land by a joint venture between East African Holding, a leading industrial group in Ethiopia that has endorsed a prominent role in the.... Read more »

Posted on : Wednesday , 17th March 2021

Kenya: Norfund Invests $15 Million in BLK1 for Electrification via Solar Kits

Norfund, a Norwegian government investment company joins the Brighter Life Kenya 1 Limited (BLK1) scheme with a US$ 15 million investment. Norfund hopes to provide 1.9 million Kenyans with access to electricity through solar home systems. Brighter Life Kenya 1 Limited is expanding. The scheme launched in the year 2020 to facilitate the financing of solar home systems in local currency (shilling) in Kenya is registering a US$15 million.... Read more »

Posted on : Monday , 15th March 2021

Ethiopia to Finance and Build $200m Agro-Industrial Park in Oromia

The Oromia Industrial Parks Development Corporation of Ethiopia has signed an agreement worth around US$ 200 million to build a 250ha agricultural processing park in the western highlands province of Oromia. The agreement was signed by the head of the Ethiopian Industrial Parks Development Corporation Mr Sisay Gemechu, and the head of the Walabu Construction Share Company Mr Dereje Ermias, a contractor based in Oromia. The project is.... Read more »

Posted on : Monday , 15th March 2021

Rwanda Raises 2021-22 Budget to $ 3.4 Billion

Rwanda has announced plans to increase its 2021-2022 budget by US$ 220.8 million from its initial US$ 3.2 billion, hitting US$ 3.4 billion. This comes even as the government battles disruptions from the global COVID-19 pandemic and seeks to revive the economy. The budget, primarily funded by domestic revenues projected to increase from US$ 1.6 billion to US$ 1.7 billion, will majorly spread across the education sector, followed by the.... Read more »

Posted on : Monday , 15th March 2021

Kenyan Utility Seeks Proposals for PV Plant at Water Treatment Site

Kenyan water utility Nyahururu Water and Sanitation Company (Nyahuwasco) has kicked-off a tender for the construction of a solar power plant at 1 of its water treatment facilities. The company operates in the Laikipia West sub county of Laikipia County, in central Kenya, and is fully owned by the County Government of Laikipia. The selected developers will be responsible for designing, financing, and constructing the solar plant, as.... Read more »

Posted on : Friday , 12th March 2021