Market News Page No. 78| Africa Business News

Barrick to invest USD 8 million on mineral exports in Tanzania

BARRICK Gold Company plans to spend USD 8 million in new mining exploration operations in Tanzania by the end of the year, due to favorable investment strategies, laws and regulations. This was unveiled by Barrick President and Chief Executive Officer Mark Bristow during a media conference following his quarterly visit to the mine, where he also praised the strong ties between his company and the government through the Twiga Minerals.... Read more »

Posted on : Thursday , 29th October 2020

HealthyFoodsAfrica updating fish processing and packaging

HealthyFoodsAfrica has engaged stakeholders within the food processing industry to develop and update them on relevant innovative food packaging, processing and preservation. The stakeholders would also brainstorm on how to design improved technology in preservation and smoking in processing of fish to avoid carcinogens in the end product for consumers. Experts from the Council for Scientic and Industrial Research (CSIR), the Fisheries.... Read more »

Posted on : Thursday , 29th October 2020

Rwanda enhancing manufacturing of Fortified Foods

Rwanda has boarded onto a new approach towards fortified foods and to develop its extensive production and consumption as a way to decrease the striking numbers in the country. The regulations by the Rwanda Food and Drugs Authority (FDA) authorises the production of fortified foods from food processing companies in Rwanda which are well labelled, packaged and transported under hygienic and safe environment. The food items.... Read more »

Posted on : Thursday , 29th October 2020

3D printing's positive impact on the Kenyan health services

The purring of machines ushers us into a well-designed lab, one of many office spaces inside the sleepy LakeHub tech incubation centre in Kisumu’s leafy suburb of Milimani. Around 18 three-dimensional printers have settled on the shelves buzzing towards additive manufacturing which is all received from a command from a laptop resting on a table. Daisy Achieng informed that "a minimum of 3,000 3D printed medical units were delivered to.... Read more »

Posted on : Wednesday , 28th October 2020

Plastics recycling can avert plastic ban in Kenya

Advocacy by manufacturers to support plastic recycling striving in avoiding the ban towards the use of the plastic material for packaging commodity. With Kenya's stringent rules against use of plastics to protect the environment. Following which the ban was carried on with the prohibition of single-use plastics in protected areas including national parks, forests and beaches. Plastics are, however, still allowed in packaging of commodity.... Read more »

Posted on : Wednesday , 28th October 2020

Construction of the Kenya Marsabit Stadium is resumed

Construction of the Marsabit Stadium has begun after almost three years of stalling. According to the County Development Implementation Coordinating Committee (CDICC) which toured the site, the work of the two contractors, Arid Lands and Benisa Limited, on the first phase of the project is amazing.The former was hired by the county government to build the VIP Pavilion at a cost of USD 0.7 Million, of which USD 0.4 million had already been paid..... Read more »

Posted on : Tuesday , 27th October 2020

Dar Leads East Africa on construction projects

In terms of infrastructure investments, Tanzania is leading the East African bloc in terms of value. The region, the second-largest economy in the EAC, according to the Africa Construction Trends Report 2019, reported a total project value of USD 60.3 billion last year. Tanzania's overall project share is 41.2 percent, the highest potion in East Africa's total investment valuation as recorded by the consulting company Deloitte last.... Read more »

Posted on : Tuesday , 27th October 2020

Engie And OffGridBox Provide Green Energy, Water And Wi-Fi In Kigali (Rwanda)

Engie Africa launched a pilot project earlier this month to provide purified water, power and Wi-Fi to off-grid communities in Kigali, Rwanda. The project is being developed through a partnership between Engie Energy Access and OffGridBox, a water and solar company founded in 2016 with offices in Rwanda and the United States. The project ultimately aims to supply 18% of households in Kigali that do not currently have access to power. The project.... Read more »

Posted on : Tuesday , 27th October 2020

UK’s Aminex Company Announces Successful Completion of Ruvuma Farm- Tanzania

Upstream oil and gas company Aminex, has declared completion of the Ruvuma farm-out through its entire subsidiary, Ndovu Resources, transferring 50% interest in, and operatorship of the Ruvuma PSA to ARA Petroleum Tanzania Limited.Over the past 12 months, the company has borrowed $3 million from ARA Petroleum which has now been compensated to ARA by means of US$5 million cash consideration payable to the company on completion of the farm-out.The.... Read more »

Posted on : Tuesday , 27th October 2020

KENYA: $28 million is raised by Komaza to expand forest plantations

The Komaza logging company has recently concluded a Class B fundraising campaign that raised USD 28 million. The money will be used to grow forest plantations for sustainable timber harvesting. Sustainable timber harvesting in Kenya could have a promising future. Such is the vision that underlies the financial activity that Komaza has recently concluded. The logging company raised USD 28 million to extend its activities in Kenya and.... Read more »

Posted on : Monday , 26th October 2020

Mahindra Commenced vehicle assembling in Kenya

Indian automaker Mahindra & Mahindra has started assembling two of its small commercial trucks in Kenya, becoming the latest global carmaker to start operations in East Africa's richest economy.Mahindra's entry follows that of French carmaker Peugeot SA and Germany's Volkswagen AG, both of which announced resumption of local assembly in 2017 and 2016 respectively, after decades-long absences.The interest in the local new vehicle market by.... Read more »

Posted on : Monday , 26th October 2020

Proton Dispatched Its First Batch of Proton Saga to Kenya

PROTON Holdings Bhd steps into Kenyan market by sending the first batch of cars to the republic.The cars, totalling 30 units of Proton Saga, were shipped as completely knocked down (CKD) kits and will be assembled by Simba Corp, a diversified conglomerate with a long history of sales and assembly experience in the automotive industry.Proton deputy CEO Datuk Radzaif Mohamed said “While strengthening Proton’s domestic position is critical to.... Read more »

Posted on : Monday , 26th October 2020