Market News Page No. 93| Africa Business News

Rwanda: Targets Annual Industrial Growth of 14 Percent

Rwanda is setting an annual industrial growth of 14 % by 2020 from the current 2 % in 2016 -17 fiscal year, Rwandan minister of industry said during celebrations of Africa Industrialization Day, at the Kigali special economic zone. Vincent Munyeshyaka, Minister of Industry also said that his government target is to see industrial sector contribute at least 20 % to GDP up from the current 17.1 % in 2016-17 fiscal year. The move requires.... Read more »

Posted on : Monday , 30th November 2020

Africom Donates Mobile Field Hospital to Kenya Border Police

The Africa Command of the United States Military (AFRICOM) donated a mobile field hospital worth SH173 million and transferred an additional SH131 million in vehicles and training equipment to the Kenya Border Police Unit (BPU). The U.S. Embassy said the new equipment is intended to increase police mobility in border areas, improve weapons capabilities and create training capacity for new officers. The embassy also said that it would.... Read more »

Posted on : Monday , 30th November 2020

Tanzania: Right Move on Unlocking Agro-Industrial Potential

In the year 2000, the Tanzania government of the day officially launched the Tanzania Development Vision 2025 with the overreaching development goal of accomplishing a semi-industrialised, middle-income competitive economy by 2025. What with one thing leading to another, successor governments came up with the 2011/12—2015/26 Long-Term Perspective Plan which embodied 5 Year Development Plans (FYDPs). The 1st such quinquennial.... Read more »

Posted on : Friday , 27th November 2020

Africa and Middle East Mining sector rose by 16.7% in the second quarter of the year

Data and analytics company GlobalData’s deals database shows that overall deal activity in the Middle East and African metals and mining industry increased by 16.7% in the second quarter. Twenty-eight USD 1.44 billion deals have been revealed for the region over the year, relative to the last four-quarter total of 24 deals. Of all the forms of deals, mergers and acquisitions (M&As) accounted for the most activity, with 26.... Read more »

Posted on : Thursday , 26th November 2020

Road Safety Programme Launched by NTSA in Makueni

NTSA Director General (DG) George Njao said the 'Usalama Barabarani' programme is sponsored by the European Union and is planned to run for a period of three years.Njao said the aim of the programme is to improve road safety in order to minimise the number of deaths caused by accidents. "There is a need to strengthen road safety programmes and County Transport and Safety Committees (CTSCs) to reduce carnage," he said.The Director General.... Read more »

Posted on : Thursday , 26th November 2020

DT Dobie Starts Body Shop to all Makes of Cars for Re-Sprays

When a re-spray is required for cars, or SUVs that are treasured possessions, the owners want an excellent result to achieve a top-class finish. Some of these discerning drivers have become aware of the fine results obtained by the DT Dobie Body Shop for Mercedes Benz and Volkswagen owners.In the past, this facility was confined to operating on Mercedes and Volkswagens, excluding other bands. In response to requests from the proud owners of.... Read more »

Posted on : Thursday , 26th November 2020

US keen to draw more investors to Dar es Salaam

The US Embassy in Dar es Salaam said it is keen to draw more investors to the region. The change came when Mr Ken Walsh, Chief Commercial Officer of the Embassy, visited the Tanzania Investment Center (TIC) last week and called for improved cooperation between the two. Mr. Walsh, who had talks with Dr. Maduhu Kazi, Executive Director of the Center, shared his office's interest and willingness to organise a business and investment forum.... Read more »

Posted on : Thursday , 26th November 2020

Boom in the demand for wood coatings in Kenya

The future of Kenya's wood-coating industry is promising given the persistent constraints of the country's supply chain of wood and wood products, which is characterized by increasing demand toward a lower supply that could have an effect on the overall demand for wood-coating in the East African country. There is growing hope about the potential growth of the wood-coating industry, as Kenya is re-launching proposals for the development of.... Read more »

Posted on : Wednesday , 25th November 2020

US$12M deal signed by Kenya to fund infrastructure to boost trade

Kenya and the East African trade promotion lobby, TradeMark East Africa, signed an agreement of 1.31 billion shillings (approximately 12 million) to fund regional infrastructure projects to improve trade. National Treasury Cabinet Secretary Ukur Yatani told reporters in Nairobi that the grants will fund infrastructure projects to promote trade and fuel economic development in Kenya, Uganda, Rwanda, Burundi and to a greater extent, in the.... Read more »

Posted on : Tuesday , 24th November 2020

DOB Equity supporting Mr Green Africa in the recycling of plastic waste

DOB Equity, an impact firm, is investing additional funds into a Kenyan-based plastic waste recycling company, Mr Green Africa. Mr Green Africa will be able to expand its operations in Kenya with this second investment from the family firm. The plastic waste recycling industry is taking shape in Kenya. Mr. Green Africa has just earned funds to grow his work in the region, one of the operators in this field. DOB Equity, an impact investor.... Read more »

Posted on : Tuesday , 24th November 2020

Kenya Power Raises Alarm over Clients Solar Switch

The raising shift to solar power systems by heavy-consuming industrialists searching reliable and cheaper supply has rattled electricity distributor Kenya Power amid thinning revenues.The utility firm said some of its industrial customers who account for about 54.8 % of its sales revenues are gradually shifting to own-generated solar power, dealing a further blow to its already dwindling finances."The company managed in a challenging.... Read more »

Posted on : Monday , 8th February 2021

Tender Launched to Build Solar PV Plants in Kenya, Ethiopia and Uganda

The United Nations High Commissioner for Refugees (UNHCR) has launched a tender for the construction of ground-mounted solar projects with capacities ranging from 60 to 500 kW across Kenya, Ethiopia and Uganda. "Bidding companies will be expected to offer on all the sites eventually selected for the tender," the UNHCR specified.The projects will have a combined capacity of 1.8 MW and can be set up in combination with diesel power generators or.... Read more »

Posted on : Monday , 8th February 2021