Market News Page No. 101| Africa Business News

Portugal Auto Firm Eyes Kenyan Base for Cheap Cars Factory

Portugal-based auto-dealer is in conversation with a Kenyan assembler to initiate local production of low-cost Hyundai and Renault brands for sale across East Africa.Salvador Caetano Group said, it is in discussion with unnamed local assembler as it wants to enjoy the tax benefit that comes with assembling cars in Kenya.Kenya Vehicle Manufacturer and Associated Vehicle Assemblers have been assembling locally for top brands like Mitsubishi,.... Read more »

Posted on : Friday , 31st July 2020

Agricultural Sector boosts Kenya's economy

Kenya’s economy is on a recovery path due to the good performance of the agriculture sector, the country’s economic mainstay, and the opening of international air travel, the top central bank official said on Thursday. Patrick Njoroge, governor of the Central Bank of Kenya (CBK) said accelerated economic recovery is expected to start in August and peak to the end of the fourth quarter. Tea production is up. Sugarcane delivery has.... Read more »

Posted on : Friday , 31st July 2020

VAELL launches agricultural arm in Tanzania

Regional Leasing Firm, Vehicle And Equipment Leasing Limited (VAELL) is set to launch its agricultural arm in Tanzania as part of its regional expansion strategyDubbed Tinga, the arm will support SMEs and small scale farmers access to farm implements and transport services. This move has been necessitated by various requests for farm machinery and transport services in East Africa’s largest nation,” said the firm in a.... Read more »

Posted on : Friday , 31st July 2020

Tanzania plans to construct Hydropower Plants and Transmission Lines

Tanzania Electric Supply Company Limited (TANESCO) has awarded Multiconsult consultancy contracts for the 222MW Rumakali and 358MW Ruhudji Hydropower and transmission lines projects in Tanzania.Multiconsult will undertake feasibility studies, prepare the conceptual design and tender documents, and conduct environmental and social impact assessment studies for the two proposed hydropower projects and associated transmission lines.The Rumakali and.... Read more »

Posted on : Thursday , 30th July 2020

African Development Bank project tripled producers and traders income

An African Development Bank project to enhance market infrastructure, value addition and rural finance (MIVARF) in Tanzania produced highly satisfactory results, according to a report released by the project team. The project, rolled out in the country between 2012 and 2017 increased the incomes of rural producers and traders threefold. With $56.8 million in funding from the African Development Bank, the programme was undertaken in 32.... Read more »

Posted on : Thursday , 30th July 2020

Tanzania Government implements new strategy to boost cashewnuts production

The government has outlined interventions intended to increase cashew nuts production as statistics indicate falling yields in the last five years. The measures, according to Agriculture minister Japhet Hasunga, include establishing a special fund which would lend agricultural inputs to farmers. The government has scrapped the Cashewnut Industry Development Trust Fund (CIDTF) for what was described as failure to perform since it was.... Read more »

Posted on : Thursday , 30th July 2020

Tanzania targets $3 billion in horticulture exports by 2025

The government plans to repossess eight premium but “white elephant” commercial horticulture estates on the southern slopes of Mount Meru in Arusha Region. Announcing the move in Arusha over the weekend, the deputy minister for Agriculture, Mr Hussein Bashe, said the government will revive the leading farms to bolster horticultural production and realize its annual export value from the current $779 million to $3 billion come.... Read more »

Posted on : Thursday , 30th July 2020

Tanzania boosting vegetable production to enhance food security

In a bid to boost production of vegetables, Tanzania signed an agreement with the World Vegetable Center, an international nonprofit institute for vegetable research and development. The agreement was signed in the commercial capital Dar es Salaam between the permanent secretary in the Ministry of Agriculture, Gerald Kusaya, on behalf of the government, and the World Vegetable Center director for the East African and Southern region,.... Read more »

Posted on : Thursday , 30th July 2020

Kenya's largest dairy producer wants to buy Solar

New Kenya Cooperative Creameries has recently concluded the initial phase of a tender to purchase electricity from a solar facility that will be constructed at its new KCC Sotik Factory. The installation is likely to cover around 40% of the site’s power needs.Kenya’s largest dairy producer will buy power from a project featuring both ground-mounted and rooftop PV arrays. The selected developer will finance, own and operate the plant and will.... Read more »

Posted on : Wednesday , 5th August 2020

Green Gratitude supports COVID health workers in Accra Ghana

Green Gratitude, a local Non-Governmental Organization (NGO) committed to the welfare of frontline workers in the Covid-19 fight, has extended a hand of support to Doctors and Nurses at the Covid-19 treatment centre at the El-Wak Stadium in Accra. The NGO has decided to provide at least one hot meal to the frontline staff at the facility for the next two weeks. The gesture comes on the heels of similar support recently extended to.... Read more »

Posted on : Thursday , 30th July 2020

Phone-based HIV support system repurposed for COVID monitoring in Uganda

A cost-effective phone based system developed by a Cambridge researcher and her Ugandan colleagues to support HIV patients has been rapidly adapted by the team to help the Ugandan Ministry of Health monitor those in quarantine during the coronavirus pandemic.People entering Uganda have been required to quarantine for 14 days as part of the country's lockdown measures, during which time they are monitored by the Ugandan Ministry of Health for.... Read more »

Posted on : Thursday , 30th July 2020

US Donates Ksh 7.9 Million Medical Equipment to Kenya

The United States is donating personal protective and hospital equipment valued at Ksh 7.9 Million to five hospitals in Nairobi, Mombasa, Kisumu, Siaya, and Nakuru in response to the COVID-19 pandemic. Each hospital in Nairobi, Mombasa, Kisumu, Siaya, and Nakuru will receive N95 masks, surgical masks, coveralls, medical goggles, face shields, and pulse oximeters. This equipment, critical to patient care and protection of.... Read more »

Posted on : Thursday , 30th July 2020