Market News Page No. 11| Africa Business News

For The Paygo Consumer Loan, D.Light Closes A $176 Million New Financing Facility

A new $176 million securitised financing facility has been closed by off-grid solar product vendor d.light in order to support and grow its PayGo consumer loan offering in Kenya, Tanzania and Uganda. The company claims that over the next three years, the facility will allow it to supply dependable, sustainable energy to an estimated six million people across three countries. The new funding is coming from African Frontier.... Read more »

Posted on : Thursday , 8th August 2024

Pearl Dairy Farms Ltd. Has Secured A $35 Million Investment To Increase East Africa's Food Security

With over 72% of the workforce employed and contributing around 24.1% of Uganda's GDP, the agriculture sector remains the foundation of the country's economy. Just the dairy sector is valued at US$3.8 billion, with US$106.2 million coming from exports annually. Milk and dairy products have a crucial role in preventing hunger and preserving local food security. The dairy industry has shown remarkable expansion. Ugandans consume very little.... Read more »

Posted on : Thursday , 8th August 2024

UK Research Proposes To Install Geothermal Cooling Systems In Kenyan Households

A team of researchers from Robert Gordon University (RGU) in Aberdeen, Scotland, is installing geothermal cooling systems in Kenya's economically disadvantaged regions. The team will subsequently look into how implementing such systems affects a number of heat stress and well-being parameters, such as activity levels, heart rate, skin temperature and sleep quality. The Scottish Funding Council (SFC) and the Global Challenges Research.... Read more »

Posted on : Wednesday , 7th August 2024

d.light Receives $176 Million Funding For Building Up Solar-Powered Lighting Products In East Africa

d.light has announced the conclusion of a new financing facility that will purchase $176 million in receivables from Kenya, Tanzania and Uganda. African Frontier Capital, a social impact-focused investment management company, is providing the fresh financing. d.light claims it will use the infrastructure to expand its PayGo consumer credit service, making solar-powered items more accessible to economically disadvantaged households and.... Read more »

Posted on : Wednesday , 7th August 2024

Tanzania Will Begin Generating Its Own Steel In Order To Cut Down On Imports.

Within the next three years, Tanzania intends to start producing steel domestically. It has already been determined that the project is situated in the Njombe Region's Ludewa District. In order to promote iron ore mining, the investor, Fujian Hexingwang Industry Tanzania Co Ltd, and the National Development Corporation (NDC) inked a $77 million contract on Saturday, August 3, 2024. Presently, Tanzania's yearly expenditure on steel imports.... Read more »

Posted on : Monday , 5th August 2024

UN Agency Praises Tanzania for Enhancing Healthcare Services

UNICEF Tanzania has expressed its appreciation for the government's commitment to modernizing healthcare services, emphasizing the importance of maternity and newborn care in particular.The UNICEF Representative for Tanzania, Lawrence Oundo, noted that this dedication is essential to tackling the serious issue of maternal mortality, which continues to take many lives as a result of avoidable difficulties during pregnancy and childbirth.He was.... Read more »

Posted on : Monday , 5th August 2024

Kenya signs a Sh2.6 billion contract with a Chinese company for electric vehicle assembly

Chinese automaker Chery plans to increase its production of electric vehicles (EVs) in Kenya by investing Sh2.62 billion. The agreement, which was signed, was a collaboration with the Kenyan company Afrigreen Automobile and calls for building an assembly manufacturing plant to generate electric cars domestically. Principal Secretary Abubakar Hassan Abubakar of the Ministry of Investments, Trade, and Industry stated that the partnership.... Read more »

Posted on : Monday , 5th August 2024

Tanzania Commends Chinese Aid Initiative for Bilharzia Control

Authorities in Zanzibar, Tanzania, commended the Chinese aid effort for controlling schistosomiasis, or bilharzia, stating that it has contributed to the disease's eradication in the Indian Ocean islands.The principal secretary of the Zanzibar Ministry of Health, Katibu Mkuu Habiba, and the coordinator of the Ministry of Health on Pemba Island, Khamis Bilali Ali, expressed their heartfelt gratitude for the China-aid Project on Schistosomiasis.... Read more »

Posted on : Monday , 5th August 2024

Tanzania Poised to Enter Booming Graphite Market With a New Project Launch

The Lindi Jumbo Graphite Mine in Tanzania is scheduled to transport its first consignment of graphite concentrate to Europe, opening up a new global jurisdiction for graphite mining. There will be other exports to locations in Asia after the shipment bound for Europe. According to Andrew Cunningham, MD and CEO of Walkabout, an Australian company, there is a strong market demand for Lindi Jumbo's graphite product, and prices are competitive. To.... Read more »

Posted on : Thursday , 1st August 2024

TGS Partners with Tanzania's PURA to Dominate Offshore Subsurface Data Management and Licensing

The comprehensive dataset, including regional seismic and well data, will enable detailed interpretations of the basin's evolution and structural history.This collection, which includes 2D and 3D seismic data spanning over 132,000 km², showcases Tanzania's strong play diversity, proven through exploration success from Early Cretaceous to Miocene reservoirs. This initiative will help identify oil and gas plays, enabling.... Read more »

Posted on : Thursday , 1st August 2024

Tanzania Allocates 34 Billion Shillings for Manyovu Customs Center and Major Road Projects

Innocent Bashungwa, Minister of Construction, explained that 34 billion shillings were recently assigned for the construction of an integrated Customs Center (One Stop Boarder Post-OSBP) in the Manyovu area, which is on the border of Tanzania and Burundi, that will assist the Kigoma Region do trade with neighbouring countries. Bashungwa announced this to the people of Mnanira and Manyovu during the visit of Hon. Dr. Philip Mpango, Vice.... Read more »

Posted on : Thursday , 12th September 2024

Ndma's Launched Sh56 Million Water Project is in Taita Taveta

In Mbololo, Voi Sub-county, Taita Taveta County, the National Drought Management Authority (NDMA) is building a Sh56 million water project. The Mbulia Mzwanenyi water project is an initiative of the NDMA, in collaboration with the Taita Taveta County Government, aimed at enhancing drought resistance. Chairman of the Taita Taveta NDMA Shallow Yahya said during the project's Tuesday kickoff that the goal of the project is to make it.... Read more »

Posted on : Tuesday , 30th July 2024