Market News Page No. 123| Africa Business News

Nigerias Kews Garden Plans To Enter Into The International Market

Kews Garden Limited, a Nigerian fishing company, has launched a new fish product under the brand ‘Mackerel Butter’ amid its plans to export fish and fish products into the international market. Speaking during the launch of the product Mrs Nnenna Anekwe said that the firm has concluded plans to begin the export of processed mackerel fish butter to other parts of the world. Anekwe revealed that the firm, which has been operating in.... Read more »

Posted on : Thursday , 23rd May 2019

Phase 1 construction of Dar Es Salaam SGR nears completion

Phase one works on US $1.9bn Dar Es Salaam Standard Gauge Railiway (SGR) between Dar es Salaam and Morogoro in Tanzania nears completion. Minister for Works, Transport and Communications Isack Kamwele revealed the reports. Phase 1 of the project that Dar es Salaam has been pushing since April 2017 include three passenger trains which will be making daily round trips between the two cities, this is lower than the maximum 12 trips projected.... Read more »

Posted on : Thursday , 23rd May 2019

Zanzibar Govt is all set to work with General Electric and KAYI Medical International to modernise its healthcare system

The government of Zanzibar have shown an interest to work with General Electric and KAYI Medical International in order to update its healthcare system. Ali Iddi, Zanzibar's Second Vice President Ambassador, gave the pledge when he met with representatives of KAYI Medical International led by its General Manager Batur Engin. "Zanzibar would welcome reputable international organisations to modernise its healthcare",.... Read more »

Posted on : Tuesday , 21st May 2019

AFFORDABLE HOUSING IN KENYA GETS A USD 250 MILLION BOOST

A USD 250 million loan to Kenya has been approved by the World Bank for a large scale affordable housing project. World Bank’s Kenya Country Director Mr. Felipe Jaramillo, said that the establishment and operationalisation of the Kenya Mortgage Refinance Corporation (KMRC), a largely private sector-owned and non-deposit taking financial institution supervised by the Central Bank of Kenya (CBK) will be supported by Kenya Affordable Housing.... Read more »

Posted on : Monday , 13th May 2019

Kenya to Construct 300 MW Solar Plant in Zambia

Kenya plans a deal to construct a 300MW solar plant in Zambia at a cost of US $500m focused at expanding the county’s generation capacity, re-balancing the reliability on hydropower and supporting the rural electrification programme. The Nairobi-based renewable energy company, Xago Africa that secured the contract will undertake the project in a joint venture with Zambian firm Blue Chip Resources. The consortium has contracted UK-based.... Read more »

Posted on : Saturday , 11th May 2019

Canada To Support EAC Energy Sectors For Local Benefit

The East African Community (EAC) summons for extended support from Canada, one of the leading development partners to Africa. The community is specifically pressing for assistance in the infrastructure and trade sectors to help it gain its intergrated agenda. Mr. Liberat Mfumukeko, the secretary general said, "There is an urgent need to upscale the EAC-Canada relations as well as Canada's support". He made the call when he met the.... Read more »

Posted on : Saturday , 11th May 2019

Tanzania Partners With Japan Agency To Launch A 12-Year Plan To Boost Rice Production

Tanzania government in partnership with the World Bank, Japan International Co-operation Agency (JICA) and the Africa Development Bank (AfDB) has launched a 12-year plan that seeks to boost rice production. Dubbed as ‘The National Rice Development Strategy Programme’ the initiative is part of the Coalition for African Rice Development aimed at feeding East Africa and forestall a food crisis in the region. Mathew Mtingumwe,.... Read more »

Posted on : Saturday , 11th May 2019

Toshiba ventures into Kenya Market

Toshiba Corporation has announced the establishment of its new branch office in Nairobi, Kenya, under Toshiba Africa, the company’s main subsidiary based in South Africa. The branch office will start operations from May. Toshiba established subsidiary Toshiba Africa in 2014, and has been aiming on its business expansion in the sub-Sahara region. The company has since provided a wide range of products and systems such as Energy, Building.... Read more »

Posted on : Friday , 10th May 2019

Turkey - Ethiopia Joint Venture opens new cable plant to boost Production

Euro Cable Private Limited Company, a joint venture between Ethiopian and Turkish, opens a new factory which is set to triple its existing electric cable production capacity. The plant located in Gelan, Oromia Regional State, has a covered area of 10,500 meter square in a compound of 20,000 meter square. Euro Cable PLC, a joint Ethio-Turkish venture, was the first private enterprise to start manufacturing electrical cables in Ethiopia, the.... Read more »

Posted on : Friday , 10th May 2019

Solar power plant in Kenya gets 52 million Pounds Funding from UK

Foreign Secretary Jeremy Hunt has welcomed funding totaling £52 million that has been raised for a solar power plant in Kenya. The project, run by British-headquartered power company Globeleq and funded by CDC, the UK’s development finance institution, is due to come online in 2020. It will enable clean electricity to the Malindi region in South East Kenya, which currently struggles with regular power shortages and relies.... Read more »

Posted on : Thursday , 9th May 2019

Nigerian Breweries Achieves 57% Local Sourcing Of Raw Materials

The Nigerian Breweries (NB) Plc says it has achieved 57% of its 60 per cent 2020 target for local sourcing of raw material for production. According to Sade Morgan, Corporate Affairs Director, local sourcing was an integral part of the company’s long term sustainability agenda as it remains at the heart of the company’s operations. “We are also exploring the use of maize and rice as brewing adjuncts (sources of starch) in.... Read more »

Posted on : Thursday , 9th May 2019

World Bank to Fund Sh.50 Million in Vihiga for Street Lighting Project

Locals and traders of Majengo market in Vihiga Sub County will soon experience enhanced security and working hours following World Bank’s move to entirely fund installation 15 high mast floodlights project in the Municipality at a cost of about Sh.52.5 million. The Vihiga County Governor, Dr. Wilber Ottichilo and his Deputy Governor (DG), Dr. Patrick Saisi led a team of county officials and World Bank representatives were.... Read more »

Posted on : Thursday , 9th May 2019