Market News Page No. 90| Africa Business News

Marathon Motors launches three new locally assembled Hyundai models

Established just about a decade ago, as importers and distributors of Hyundai passenger and commercial vehicles and parts in Ethiopia, Marathon imports around 500 to 600 cars each year and presently has the capacity to assemble 10,000 cars annually and introduce 12 new models.Marathon Motors is not the only single assembler of South Korean made vehicles in Ethiopia. There are overall 19 companies that are registered at the Ministry of Trade.... Read more »

Posted on : Friday , 31st January 2020

Ethiopian Council Of Ministers To Establish An Artificial Intelligence Research & Development Center

Ethiopia is all set up to start AI research center. The decision calls for "a favourable environment for beginner developers and startups working in the artificial intelligence sector." This was the latest of a series of steps taken by Ethiopia, Africa's second populous nation with a population of about 107 million, to step up AI research and development in certain and advance information and Communications technology (ICT) in.... Read more »

Posted on : Friday , 31st January 2020

Kenya - Plans Are Underway For The Launch Of A Loan Facility Targeting SMEs In The Country

Principal Secretary of Industrialization, Francis Owino at an event with President Uhuru Kenyatta, said the new service, which will be launched by the National Treasury, is expected to allow SMEs access more capital and address the challenge they face when starting their businesses. The new MSE’s policy is expected to address challenges in areas that has limited access to finance particularly for start-ups. The PS was speaking during.... Read more »

Posted on : Friday , 31st January 2020

African partnerships strengthen Deep Casing Tools’ global footprint

Deep Casing Tools (DCT), the UK-based Oil and Gas Technology development company, has confirmed the employment of 2 agents as part of its strategic development plans in Africa.DCT has selected Africa Oilwell Technology, an Oilfield Services Company, as its partner in Cameroon, Angola,Democratic Republic of Congo , Republic of Congo, Gabon and South Africa. Meanwhile, Omasup Energy Services one of the oil and gas services company, has been.... Read more »

Posted on : Thursday , 30th January 2020

The Global Fund Agency Helps Kenya Fight HIV/Aids, Tb And Maleria

The Global Fund agency helps Kenya fight HIV/Aids, tuberculosis and malaria has given the country Sh42 billion to be used up to 2024. The organization's suggestions to Kenya on how to improve the programs are supported by experts. Global Fund wants Kenya to step up activities for preventing HIV, TB, and malaria, strengthen health and community systems and ensure extra efforts are put in place to take care of vulnerable people. It.... Read more »

Posted on : Wednesday , 22nd January 2020

Tanzania - SMEs To Invest In Nutrition Business

Small businesses have been encouraged to do more business in matters that focus on nutrition that besides making profits it is also important in terms of health for the general population. Global Alliance for Improved Nutrition (GAIN) Country Director, Enock Msinguzi, told participants of Lishe Accelerator II over the weekend that innovation is crucial for any business model to succeed and that the same goes for nutrition. He also said.... Read more »

Posted on : Wednesday , 22nd January 2020

Kenya To Focus On Sugar Sector For Its Future Economic Growth

Kenya’s main economic growth is its agriculture sector. It contributes to over a quarter of our Gross Domestic Product and employs more than 40 percent of the population. In rural areas, 70 percent of citizens' livelihoods are dependent on agriculture. The sugarcane industry contributes to around 15 percent of this. The income of over six million people is directly tied to this industry. President Uhuru Kenyatta has.... Read more »

Posted on : Wednesday , 22nd January 2020

AfDB Grant US $8.9m for Ruzizi IV Hydropower Project in Rwanda

Ruzizi IV Hydropower Project in Rwanda has gained US $8.9m approval from the African Development Bank (AfDB), taken from the European Union's Africa Investment Platform (EU-AIP) to help the implementation of the Project.At present, two power plants are already in operation: Ruzizi I which builds 29.8MW and Ruzizi II which produces 43.8 MW. Ruzizi III with an estimated 147MW output is under development with Bank support. When accomplished, Ruzizi.... Read more »

Posted on : Tuesday , 21st January 2020

Ethiopia - MIDROC To Construct Edible Oil Factory Worth 4bln Br

MIDROC Ethiopia is commenced to build a 4-billion birr worth edible-oil factory which is expected to produce 600,000 liters of cooking oil daily. A cornerstone for the factory was laid in Addis Ababa's Summit area, adjacent to the Pepsi Cola factory.The event was laid by Addis Ababa City Mayor Takele Uma, representative of Sheikh Mohammed Al-Amoudi, Chairman and Owner of the leading Ethiopian Investment group, Midroc Ethiopia, Abennet.... Read more »

Posted on : Thursday , 16th January 2020

Ghana, The First African Nation To Turn Plastic Waste Into Liquid Fuel

Ghana formally joined the Global Plastic Action Partnership, an initiative dedicated to eradicating plastic waste and pollution worldwide, thus becoming the first African nation to do so. Ghana produces 1.7 million tonnes of plastic waste annually, with only two per cent being recycled, according to the United Nations Development Programme. Francis Kantavooro has produced a locally gathered reactor that turns plastic waste into fuel.... Read more »

Posted on : Monday , 9th March 2020

Kenya to Build Power Plants to Boost Electricity Supply in Meru County

Kenya has disclosed plans to set up various power plants in Meru County as part of the county’s plan to boost business and provide electricity to all residents by 2040. This will support the county’s development for the next 20 years.Foreseeing the county’s Vision 2040 blueprint, the main goal in the energy sector is to improve access to clean and sustainable energy by investing in a good mix of energy sources such as wind and solar, as.... Read more »

Posted on : Wednesday , 15th January 2020

Going Big In Ethiopia A New Video Campaign Is Launched By Coca-Cola

Ethiopia is greatly admired not just for its beauty, diversity or economic progress but also the fervent spirit of its people. It is extremely encouraging to see the improved economic growth projections over the last couple of years which is testament to all of the hard work that has been done,” said Phillipine Mtikitiki General Manager for East & Central Africa. With the aim of showing the immense investment and tourist attractions.... Read more »

Posted on : Wednesday , 15th January 2020