Market News Page No. 76| Africa Business News

US $2bn integrated community development project to be constructed in Ethiopia

US $2bn has been set aside for integrated community development project in Ethiopia's capital, Addis Ababa which will entail 4,000 apartment houses, recreation centers and three star hotels. During the launch of the project, the country’s Prime Minister, Abiy Ahmed said that according to the master plan, 1,600 households current dwelling will be demolished and later on absorbed in the proposed apartments. Integrated community.... Read more »

Posted on : Friday , 30th November 2018

EIB to support four new projects in Kenya and EA

Four new projects in Kenya and EA will get a great support from "The European Investment Bank (EIB)" through the loan that worth US$78mn. This will help Kenya and East African region to gain wider support to its companies. The companies that will benefit includes telkom Kenya, the BCS Group, the Medical Credit Fund and Novastar II. It has also been reported that, in order to reduce the risk of currency that has liability to.... Read more »

Posted on : Tuesday , 27th November 2018

Tanzania to come up with HydroPower plant

It has been announced that the hydropower plant preparations at Stiegler's Gorge in Tanzania are underway. This hydropower plant preparations are proposed for 2,100MW Rufiji hydropower plant. This preparations will benefit the country as the project will have a gross output of 5,920GWh and also it is expected that the project will double the country's power generation capacity. This project is nearly of $307 million. Mr. Medard.... Read more »

Posted on : Tuesday , 27th November 2018

Tea Export Increased by 13% from East Africa to the rest of the World

Tea export volumes from East Africa to the rest of the world have risen by 1.4 million kilograms, representing a 13% increase from the comparable previous year, data from the East African Tea Export Auction reveals. A latest auction report has shown that a total of 10.4 million kilogramme bags of tea were exported, more than the 9 million kilogramme bags exported around the same time the previous year. This is according to records from the.... Read more »

Posted on : Tuesday , 27th November 2018

Investment and Infrastructure development in EA OIL & GAS

The Head of East Africa oil & gas sector at Standard Bank, Mr. Maina Kigundu, said that "Foreign exchange burden of importing and distributing the refined oil and gas products will maintain balance of payment challenges while liberating much needed foreign exchange for more strategic human development." He also mentioned that there is an increase in foreign exchange that is required to meet the regions expanding need for oil and.... Read more »

Posted on : Saturday , 24th November 2018

Scania East Africa Launches New Truck Range

Scania East Africa has launched its new truck generation becoming the second market in Africa to roll out the new truck range. The new models have been launched in phases across the globe since August 2016 revealing results of ten years of development work, billions of dollars of investments and more than 10 million kilometres of test driving. Scania is extending its offering by customising trucks for each type of customer in the highly.... Read more »

Posted on : Thursday , 15th November 2018

Uber Sees Opportunity for Minibus Service in Nairobi

Uber Technologies may roll out a new service in Kenya to help user’s book seats on minibuses that ply the streets of the congested capital, if tests on the product in Egypt and Mexico prove successful, a company executive said on Wednesday. Uber estimates that more than a third of Kenyans in Nairobi use the often crowded minibuses, known as matatus, as their main form of transport around the city, Uber’s East Africa General Manager.... Read more »

Posted on : Thursday , 15th November 2018

3.2 million residents from kenya to get free health care services

3.2 million kenyans to get free health care coverage, 3.2 million residents are from four different countries, namely, Isiolo, Machakos, Kisumu and Nyeri. These countries are expected to receive a range of free medical services starting December as a part of Pilot Programme. These four countries will also get free services when they refer to National referral facilities during the year-log (UHC) Universal Health Coverage Pilot.... Read more »

Posted on : Thursday , 15th November 2018

TANZANIA to become a hub of high-tech cardiovascular treatment in East Africa

Dar is gearing to become Medical tourism Hub in EA. A hub of high-tech cardiovascular treatment in East Africa and Sub- Saharan Africa through extension of the Jakaya Kikwete Cardiac Institute (JKCI) at Mloganzila, which is envisioned to be a centre of excellence in the region. The new facility at Mloganzila will include a special wing for children, which will have a capacity of between 280 and 350 beds, up from the current 128 beds at.... Read more »

Posted on : Wednesday , 14th November 2018

Kenya set aside funds to help local start-ups in the mobile industry

Kenya minister of information, communication and technology said that the government had set aside $10 million to help local start-ups in the mobile telephone software and hardware segments to grow. The country’s imports of 50 million telephone handsets every two years, Which is challenging local firms to start making them locally. Kenya has almost 45.5 million mobile phone subscribers who use a range of imported mobile.... Read more »

Posted on : Wednesday , 14th November 2018

Kenya Signs Agreement to Boost Agricultural Exports to China

Kenya and China signed an agreement allowing the East African country to export various agricultural products to China. Nzioka Waita, President Uhuru Kenyatta’s Chief of Staff, said the agreement on food, plant and animal safety - known as sanitary and phytosanitary measures - had been reached between the two after a week of negotiations. Waita said on Twitter the agreement would pave the way for Kenya to start exporting a selection of.... Read more »

Posted on : Tuesday , 13th November 2018

East African focused fund manager, Catalyst Principal Partners, announces the close of its second fund, achieving $155 Million

In 2009, the Catalyst Fund raised to $125 million which it invested in 9 companies in Kenya, Tanzania and Ethiopia with diverse interests in manufacturing of consumer goods, pharmaceuticals, industrial agro-processing, logistics and engineering as well as healthcare, technology and financial services. Whereas, this year the Catalyst Fund II raises US$155 million successor fund for investment in East Africa. The fund will focus on.... Read more »

Posted on : Monday , 26th November 2018