Market News Page No. 79| Africa Business News

Bangladeshi firm to manufacture diabetes, malaria drugs in Kenya

Square Pharmaceuticals, one of Bangladesh's major drugmakers, will begin producing pharmaceuticals at its multibillion-dollar manufacturing plant in Kenya within the next four months, aiming to meet unmet demand in Kenya, Tanzania, Rwanda, Burundi, Uganda, and South Sudan. The pharmaceutical company began building of a facility in the tax-free export processing zones (EPZ) in Athi River in 2018, with an initial expenditure of Ksh2.58.... Read more »

Posted on : Monday , 31st May 2021

America's DFC invests $5m in Africa Healthcare Network

The US International Development Finance Corporation (DFC) has announced the first release of a $5 million direct loan to Africa Healthcare Network (AHN), the biggest dialysis clinic operator in East Africa. The initiative is part of DFC's complete COVID-19 Response, which aims to mitigate the economic and health effects of the COVID-19 pandemic, as well as DFC's Global Health and Prosperity Initiative, which aims to enhance global health.... Read more »

Posted on : Monday , 31st May 2021

In Kenya the world's first boat built of recycled plastic sets sail.

The 'Flipflopi vessel' is the world's first recycled plastic ship. It will set sail on Lake Victoria in Kenya to launch a plastic pollution awareness campaign. During the journey, the boat, which is made entirely of recycled plastic, will go through three East African countries with the help of the UN Environment Programme's (UNEP) clean seas programme. They've also established innovation clusters and start-ups focused on the.... Read more »

Posted on : Thursday , 27th May 2021

Tanzania's EcoAct recycles plastic scrap into valuable materials

EcoAct Tanzania is one of the organisations that is pioneering new techniques to recycle plastic trash while also conserving the environment. EcoAct, one of Tanzania's fastest-growing tech firms, uses "Waxy ii Technique," a chemical-free and energy-efficient plastic extrusion technology. This cutting-edge method recycles and transforms post-consumer plastic waste into plastic lumber. The effort was founded to address issues such as.... Read more »

Posted on : Thursday , 27th May 2021

Tanzania targets mining to boost sector's GDP contribution

Tanzania Ministry of Minerals is now concentrating on strengthening revenue collection to boost the mining sector's contribution to GDP.Minister for Minerals, Dr Dotto Biteko, offered his ministry's budget estimates, stating that the government's objective for the fiscal year 2021/2022 is to accumulate 696,441,872,667, up from 547,735,863,597 in the fiscal year 2020/2021.According to him, the ministry would make labour to develop small-scale.... Read more »

Posted on : Wednesday , 26th May 2021

Tripling Annual Cashew Output achievable for Tanzania

According to the Tanzanian Agricultural Research Institute (Tari), the country's goal of tripling cashew nut production to 1.0 million tonnes per year is feasible. Tari said the government's goal of making the country a leading global cashew nut producer was achievable because new seeds and cultivation methods were promising. Tari, which has produced 54 disease-resistant and high-yield seeds, claims that new cultivation areas have.... Read more »

Posted on : Tuesday , 25th May 2021

CDA completes the first phase of its $30.3 million irrigation scheme in Taita Taveta, Kenya

The Coast Development Authority (CDA) in Kenya's Taita Taveta County is completing the first phase of an ongoing irrigation and drought mitigation project. The new facilities are expected to enable at least 100 smallholder farmers in the Nakuruto and Challa areas to resume their operations. Farmers in Kenya's Taita Taveta County now have irrigation systems to help them recover their crops after a long period of drought caused by a lack of.... Read more »

Posted on : Tuesday , 25th May 2021

KENYA: Olkaria I Geothermal Power Plant To Gain 83 Mwe Before End of 2021

Kenya Electricity Generating Company (KenGen), Kenya's largest power producer, plans to commission unit 6 of its Olkaria I geothermal power plant before the end of this year. The steam plant is being built by the Japanese companies Marubeni Corporation and Fuji Electric. Marubeni Corporation is on track to meet its line-up. The Japanese company chosen by KenGen for the construction of Unit 6 of the Olkaria I geothermal power plant had.... Read more »

Posted on : Tuesday , 25th May 2021

Tanzania And Kenya To Re-Ignite Trade And Economic Cooperation

Hon. Samia Suluhu Hassan has just completed a 2 day official visit to Kenya where she met her Kenyan counterpart President Uhuru Kenyatta with the aim to unlock trade and build up economic relations. President Samia Suluhu Hassan addressed the Kenyan parliament, where she pledged to develop co-operative projects including road construction, the construction of a 400 kW power line from Singida to Kenya, complete the One-stop Border Post, and.... Read more »

Posted on : Tuesday , 25th May 2021

Kenya launches Lamu Port now open for business

Newly constructed Lamu port project has officially been opened by President Uhuru Kenyatta with the target to link Kenya to South Sudan, Ethiopia and therefore the middle belt of Africa.Two other berths are likely to be launched before the end of the year.The project is part of the Lappset which comprises a standard gauge railway line, Road network, Oil pipeline (Crude & product), Oil refinery (Isiolo/Lamu), International Airports (Lamu,.... Read more »

Posted on : Monday , 24th May 2021

Tanzania's commercial forestry industry has the potential to significantly raise the incomes of small tree growers.

In Tanzania's Southern Highlands, the Forestry Development Trust (FDT) is collaborating with all segments of tree growers as well as various public and private forestry service providers to transform the commercial forestry sector by encouraging business structure reforms. Tanzania's current forest plantation area (including small scale woodlots) is estimated to be 325,000 hectares, with pine (65% ) and eucalyptus as the dominant species.... Read more »

Posted on : Monday , 24th May 2021

Kerui Petroleum & Gas Successfully Delivered A Drilling Rig For A Geothermal Project In Ethiopia

The second set of 1500hp geothermal drilling rigs developed and produced independently by Shandong Kerui Petroleum & Gas Equipment Co., Ltd. was successfully delivered to the Aruto Langano geothermal power station in central Ethiopia recently.It is the greatest investment in the geothermal energy industry, as well as a national project with enormous strategic significance funded by the World Bank, since it is the first 50D mating drilling.... Read more »

Posted on : Wednesday , 19th May 2021