Market News Page No. 85| Africa Business News | Afrotrade

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Afreximbank, AAAM Sign the African Auto Industry Financing MOU

The African Export-Import Bank (Afreximbank) and the African Association of Automotive Manufacturers (AAAM) have entered into a Memorandum of Understanding (MoU) to finance and promote the automotive industry in Africa."The strategic partnership with AAAM will facilitate the implementation of the Bank's automotive programme aimed at catalysing the development of the automotive industry in Africa as the continent begins trade within the African.... Read more »

Posted on : Monday , 22nd February 2021

Safaricom Market Cap Crosses Ksh 1.5 Trillion

Kenya’s largest listed company hit a market capitalization Ksh 1.52 Trillion after the company’s shares touched a new record high of Ksh 38. On 11th Feb, the Nairobi Securities Exchange listed firm announced it was paying an interim dividend of KSh 0.45 per ordinary share, amounting to KSh 18.029 Billion for the year ended 31st March 2021. The company’s board cited the need to support its shareholders during these difficult times.... Read more »

Posted on : Friday , 19th February 2021

Tanzania Sign USD 1.3b SGR Railway Construction Agreement with China

Tanzania’s President John Magufuli and China’s Foreign Affairs Minister Wang Yi signed in last month the agreement for the construction of the 5th phase of the new Standard Gauge Railway. The train will run for 341 km from Mwanza, the port city on the shore of Lake Victoria in northern Tanzania, to Isaka in the Shinyanga Region. The construction will be executed by China Civil Engineering Construction Corporation and China Railway.... Read more »

Posted on : Friday , 19th February 2021

Sub-Saharan Africa Could Green-Light 74 Mil Mt/Year LNG Capacity By 2030

Sub-Saharan Africa could approve an additional 74 million mt/year of LNG export capacity by 2030 if market conditions permit, the African Coalition for Trade and Investment in Natural Gas said in a report published on February 9.In addition to a total of 60 million mt/year of export capacity the region is expected to have by 2025, ACTING—launched on 3 February by the African Energy Chamber and investment research firm Hawilti—said in its.... Read more »

Posted on : Thursday , 18th February 2021

KENYA: Kenya Power Wants To Hybridise 23 Diesel Mini-Grids With Solar and Wind

The public company Kenya Power has just announced a call for tenders for the hybridisation of 23 diesel mini-grids with renewable sources such as solar and wind power. Companies interested in this project financed by the French Development Agency (AFD) have to apply until 2 March 2021. The Kenyan government is pursuing its policy of electrifying rural areas via mini grids. The public company Kenya Power (KPLC) is looking for companies to.... Read more »

Posted on : Monday , 15th February 2021

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

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

Posted on : Monday , 15th February 2021

UK To Step Up Trade With Kenya After the Latest Trade Deal

Jane Marriot, British High Commissioner to Kenya, said the United Kingdom has reaffirmed its pledge to scale-up trade with Kenya. Ms Marriot continued that as part of their economic relationship, her country was eager to see foreign currency sales return to a win-win scenario for both countries. Despite the Covid-19 global pandemic, the High Commissioner added that 43 percent of Kenya's vegetable exports go to the UK annually,.... Read more »

Posted on : Monday , 15th February 2021

Global IT company Rahi invests US$5m in Africa

Global IT technology company Rahi has announced a US$5 million in capital spending across Africa as it launches its global expansion plan for the IT, data centre and business campus technology sectors. Over the next three years, Rahi aims to spend US$5 million to extend its footprint across Dubai, South Africa, Kenya, Nigeria, Morocco and Egypt. Following its continuing global expansion to territories such as Europe, Latin America and.... Read more »

Posted on : Monday , 15th February 2021

ANDRITZ to supply complete MDF plant to Nile Wood, Egypt

International technology Group ANDRITZ has recently received an order in cooperation with Dieffenbacher to supply a comprehensive MDF plant, as well as a chip washing and pressurized refining system, to Nile Wood S.A.E, which is a subsidiary of Egypt Kuwait Holding (EKH), for their greenfield site in Sadat City, Egypt.With this recent order, ANDRITZ is consolidation its foremost position in the supply of preparation systems for MDF plants and.... Read more »

Posted on : Monday , 15th February 2021

Investments have turned Tanzania into a medical tourism hub

Investing in specialist care has decreased the number of patients seeking medical attention overseas at exorbitant rates by more than 95%, from 200 to 300 patients a year, to less than 60. Eventually, government attempts to expand spending in the health sector have led the country to draw patients from surrounding nations. The Democratic Republic of Congo (DRC), Comoro, Uganda, Kenya, Malawi, Rwanda and Burundi are some of the neighboring.... Read more »

Posted on : Friday , 12th February 2021

IRCAD to unveil the high-tech surgery centre in Rwanda

In 2018, the government of Rwanda embarked on a new journey to establish an IRCAD centre in Kigali through the Ministry of Health in partnership with IRCAD France, a global institution dedicated to advancing and teaching minimally invasive surgery. By closing the technology and knowledge gap in the field of research and training, the partnership aims to improve and advance surgery in Africa. The IRCAD Africa Center, set to be unveiled.... Read more »

Posted on : Monday , 8th February 2021

The German Auto Industry Doubles Down On Africa

In August last year, just as the global auto industry began to spot green recovery after the worst coronavirus carnage, German carmaker Volkswagen unveiled its first vehicle assembled in Ghana, the Tiguan SUV, in the existence of Ghanaian President Nana Addo Dankwa Akufo-Addo.The event marked the official opening of the VW's first vehicle assembly plant in the West African country and the fifth in sub-Saharan Africa; the other locations are in.... Read more »

Posted on : Monday , 8th February 2021

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