Market News Page No. 79| Africa Business News

EIB launches US$60.9m Africa pharmaceutical development program

The European Investment Bank (EIB) has launched the first ever scheme aimed at strengthening the local production of active pharmaceutical ingredients in Africa and increasing the production of pharmaceuticals that are essential for improving public health. The EIB's recent US$60.9 million pharmaceutical investment program, unveiled jointly with the KENUP Foundation, would help eliminate drug import dependence and fix the gaps in the.... Read more »

Posted on : Tuesday , 29th December 2020

Kenya: Total's 107 Stations Switch to Solar as More Consumers Give Kenya Power a Blackout

Kenya has connected total 107 of its service stations to solar energy, making it 1 of the largest firms to significantly reduce its reliance on Kenya Power. The move comes at an exact time when solar is becoming a cheaper and more reliable bet. The firm said it has installed around some 3,390 solar panels and now is planning to have an additional 41 stations migrate to solar energy by 2021. "The solar energy powers lights, fridges,.... Read more »

Posted on : Monday , 8th February 2021

Kenya to Add 80mw Solar Power to National Grid

Kenya is ready to install 80 MW of solar power to the national electricity grid in 2021, the energy regulator reported. Caroline Kimathi, principal renewable energy officer at the Energy and Petroleum Regulatory Authority, told journalists in Nairobi that Kenya generates roughly 200 megawatts of electricity from harnessing the sun's energy. "Private investors have already been received approval to build 2 solar electric plants at 40 MW.... Read more »

Posted on : Monday , 28th December 2020

VINCI JV signs an agreement for a EUR 1.3 billion motorway project in Kenya

A joint venture between VINCI Highways Unit Rift Valley Highway, VINCI Concessions and Meridiam SAS has signed an agreement for the construction of approximately €1.3 billion of the Nairobi-Nakuru-Mau Summit Highway project in Kenya. The agreement, through its Public-Private Partnership Unit and the Kenya National Highway Authority, has been signed with the Republic of Kenya (KeNHA). The agreement is subject to the completion, in.... Read more »

Posted on : Wednesday , 3rd March 2021

The Demand for Wood is Growing in Kenya

Several developments in Kenya are leading to an increase in demand for timber. Kenya's economy has expanded by 6% per year and is expected to continue to expand steadily. The population currently stands at 53 million and the proportion of the population living in cities is growing steadily. The rising middle class wants to buy nicer homes and furniture. For example, demand for furniture has risen by 10% each year. Until now, a considerable.... Read more »

Posted on : Wednesday , 3rd March 2021

Incentives for mining exploration firms to be offered by Rwanda

Rwanda appears to have placed in place an investment programme that seeks to encourage investors to invest in mining exploration operations, part of the push to strategically reposition the country's mining industry in the region. The new reward package was announced by Francis Gatare, Chief Executive Officer of Rwanda Mines, Gas and Petroleum, on Tuesday, 10 November, ahead of the Africa Mining Forum (RMB). 'We're excited about a potential.... Read more »

Posted on : Wednesday , 3rd March 2021

KeNHA to begin fly-over construction at the T-Mall junction

The Government of Kenya, through the Kenya National Highway Authority (KeNHA), the Autonomous Road Agency responsible for the management, development, reconstruction and maintenance of Class A, B and C roads in the East African area are scheduled to begin the building of the T-Mall junction on the Langata route. On its Twitter feed, via a public notice signed by the Agency's Director-General, Mr Peter Mundinia, KeNHA noted that the.... Read more »

Posted on : Wednesday , 3rd March 2021

Dubai Based Company Lazure to spotlight trade opportunities by participating at 06th Lightexpo Tanzania 2021

Expogroup to welcome Lazure Worldwide Fze Llc at it 06th edition of lighting fair in Tanzania at Dar es Salaam in the month of March from 24th to 26th.Lazure believes in an ecosystem that thrives on design. Design has a social impact on lives as no other fundamental and genuinely believe that lighting plays an important role in achieving that design. Lazure passionately work towards achieving this goal by innovating on new technologies and.... Read more »

Posted on : Monday , 21st December 2020

Tanzania creating opportunity for paper chemical market

A rise in disposable income coupled with a high standard of living is escalating the use of paper for packaging, which in turn boosts the growth of the market for paper chemicals. The demand has also fuelled a rise in the use of paper for printing and writing applications. The size of the Paper Chemicals market is expected to hit $42 billion by 2025, after a 3% rise in the CAGR during 2020-2025. Paper chemicals are a category of chemicals.... Read more »

Posted on : Tuesday , 8th December 2020

Egyptian Manufacturing Company Yorpak to Spread Their Roots in Africa

YORPAK Egypt had announced their participation at the Africa’s highly rated exhibition 23rd PPPexpo which will be held at Dar es salaam, Tanzania from 07th to 09th April 2021.Yorpak will be showcasing Material made from high impact copolymer Polypropylene. The grade which is been used is selected by its Engineering & Materials department for Excellent impact stacking resistance to shocks and mishandling.This group of companies has tripled.... Read more »

Posted on : Tuesday , 8th December 2020

Kenyan insurtech startup Turaco secures $2m seed funding

Turaco, a micro-insurtech start-up based in Kenya, has raised $2 million from Novastar Ventures, Mercy Corps Ventures, Musha Ventures, GAN Ventures, Zephyr Acron, and other angel investors in serial seed equity investment. The investment will be used to expand Turaco further and to increase its operations in Sub-Saharan Africa. In addition, the start-up seeks to build its proprietary technologies and to provide opportunities for jobs to.... Read more »

Posted on : Monday , 7th December 2020

The Solar Mamas Lighting Zanzibar Streets and Homes

In the Zanzibar archipelago of Tanzania, beyond pristine beaches and azure blue seas, there is the tale of tens of thousands of people who have been struggling with access to affordable electricity for years, with an estimated 50 percent of the population shut out of the national grid.As a result, families have had to struggle with costly and unhealthy energy sources, including kerosene and firewood, which continue to have a negative effect on.... Read more »

Posted on : Friday , 4th December 2020