Market News Page No. 92| Africa Business News

Future Boost for Domestic Automobile Assemblers in Ethiopia

Prime Minister Abiy Ahmed's leadership said to take unprecedented measures in formulating conducive business climate for automotive industry thereby enhancing the capacity of domestic car assembling firms and putting the import substitution strategy in a good shape.Speaking to The Ethiopian Herald, Founding CEO and Managing-Director of a local automotive firm, Marathon Motor Engineering, Melkamu Assefa said that Premier Abiy has taken viable.... Read more »

Posted on : Wednesday , 7th October 2020

Electronic manufacturer Anker Innovation set to launch in Kenya

Anker Innovation Technology Co. Ltd, a manufacturer of electronic products, has announced that they have picked Kenya as its launch pad in the East African market.They intend to tap into Kenya's exponential growth in use of technology and smart devices to transact business.Anker's Innovations Regional Sales Head, Faraz Mehdi said, "We are extremely excited to venture into the Kenyan market which has the highest share of internet usage through.... Read more »

Posted on : Wednesday , 7th October 2020

Over 400,000 Rwandan Homes To Benefit From Subsidised Solar Systems

The Government of Rwanda through BRD in alliance with the World Bank, and Swedish International cooperation agency SIDA ,have recently launched a subsidy window and Guarantee framework to offer credit facilities to SACCO's, Banks and microfinance institutions that will lend to households for off grid connections.The World Bank permitted a U$15million subsidy that is projected to benefit 182.927 low income households living in off-grid areas,.... Read more »

Posted on : Tuesday , 6th October 2020

Smart solar-powered water desalination system connected in Kenya

GivePower, a non-profit organisation providing solar energy and clean, affordable water, has positioned a seawater desalination system at Likoni in Mombassa County in eastern Kenya.Powered entirely by solar energy and battery storage, GivePower's desalination systems are housed in 20-foot shipping containers and capable of transforming 70,000 litres of brackish and/or seawater into clean drinking water every day.Unlike most ground well systems,.... Read more »

Posted on : Tuesday , 6th October 2020

Kenya's Mabati Rolling Mills commissions new manufacturing plant

Mabati Rolling Mills Limited (MRM), a member of the Safal Group has launched the SAFBUILD manufacturing plant at its Athi River facility in the outskirts of capital city Nairobi.MRM's SAFBUILD brings to the market a new way of building quality steel framed buildings using their custom designed Proprietary Software.The cold formed high strength frames are completely factory-produced ready for fast erection and assembly at site.The plant has a.... Read more »

Posted on : Tuesday , 6th October 2020

Tanzanian agri-tech startup wins the MEST Africa Challenge

Kilimo Fresh an agri-tech startup from Tanzania was declared winner to the MEST Africa Challenge and awarded an equity investment of US$50,000. Kilimo Fresh is a B2B digital distributor in fresh produce made available to Supermarkets, institutions, restaurants, hotels, wholesalers and also export markets. This platform enables produce buyers and smallholder farmers to a market which is reliable and fair, helping buyers have direct access.... Read more »

Posted on : Monday , 5th October 2020

Kenya lays foundation to its self-sustaining egg programme

The governor of Kirinyaga county, Anne Waiguru, under the ‘Wezesha Kirinyaga’ (‘Enable Kirinyaga’) programme, have initiated a project which will have 32 community farmers produce a million eggs per month, which will have each farmer earn daily 1,000 Kenyan shillings. The project focuses on increasing the profitability and the agricultural productivity of the country, concentrating on the upliftment in the livelihood of the youth and.... Read more »

Posted on : Monday , 5th October 2020

GDC begins exploraton at Korosi, Kenya

The Geothermal Development Company (GDC) has recently launched exploratory drilling at the Korosi geothermal site in the Rift Valley of Western Kenya. These drillings are part of the Baringo-Silali geothermal project which is said to produce 3,000 MWe.After having carried out exploratory drilling at the Paka geothermal site, the Geothermal Development Company (GDC) is starting operations at the Korosi site. The parapublic company will drill 3.... Read more »

Posted on : Friday , 2nd October 2020

Rwanda's affordable energy ambitions get $150m boost

Rwanda's quest to avail affordable energy to the population got a boost this week following, the approval by the World Bank Group of $150m (approximately Rwf142bn) to finance energy access for households, enterprises and public institutions in Rwanda.Half of the apportioned funds will be disbursed in form of grant while the other half will be given on credit, according to a statement.The funding permitted by the World Bank Board of Directors is.... Read more »

Posted on : Friday , 2nd October 2020

Danske Bank grants USD 131.4 million for 100 MW Assela Wind Project

Ethiopian Finance Minister Ahmed Shide recently signed a loan agreement worth €117.3 million with Danske Bank, Denmark’s largest bank. This took place during a virtual conference in which Jelsper B. took part. Petterson and Olaf S. Mark Schet, respectively Director and Associate Director of Danske Bank. This is the second installment of funding from Denmark; it has already provided USD 201 million in 2018. Sources cite that the.... Read more »

Posted on : Thursday , 1st October 2020

Tanzania-Uganda Pipeline Attains Major Breakthrough of $3.5bn

Tanga-Hoima Pipeline All set now for the kickoff, with Tanzania looking to March 2021 for the initiate the construction of the $3.5 billion project.Confirmed after the agreement between French oil company Total and the Ugandan government over differences which forced the project to stall since 2018.An initial plan for Tanzania and Uganda to have first oil flow in 2020 through the Uganda-Tanzania Crude Oil Pipe Line (UTCOP) was postponed after.... Read more »

Posted on : Thursday , 1st October 2020

World Bank Approves $80 Million Grant To Boost Ethiopia’s Agricultural Productivity

The World Bank Group’s Board of Executive Directors has approved a US$80 million grant from the International Development Association to support the government Ethiopia to boost agricultural productivity and enhance market access for smallholder farmers. The Financing Agreement was signed by H.E. Ahmed Shide, Minister, Ministry of Finance and Mr. Ousmane Dione, The World Bank Country Director for Ethiopia, Eritrea, Sudan, and South Sudan,.... Read more »

Posted on : Thursday , 1st October 2020