Market News Page No. 20| Africa Business News

World Bank Greenlights Sh1 Trillion Funding for Dar es Salaam Metropolitan Development Project

Dar es Salaam's road network is about to undergo a significant modification, thanks to the upcoming commencement of Phase Two of the Dar es Salaam Metropolitan Development Project (DMDP). This decision comes amid a loan agreement worth Sh988.9 billion was signed with the World Bank (WB) last week. DMDP Phase Two will include the upgrading of a 250-kilometer stretch of road infrastructure to asphalt standards, as well as the construction of.... Read more »

Posted on : Tuesday , 27th February 2024

Resource Mining Scoops Up Tanzanian Copper - Gold Projects

The acquisition complements Resource Mining Corporation's (RMC) existing six nickel-copper project areas in the same belt. Australia-based RMC has acquired the Mpanda and Mbozi copper-gold projects in Tanzania. The agreement positioned RMC in a major multi-element resource location beneath the Ubendian Orogenic Belt in western Tanzania. It was carried out through the purchase of a 75% share in Vancouver Mineral Resources (VMR), a Tanzanian.... Read more »

Posted on : Tuesday , 27th February 2024

Tanzania Welcomes First Shipment of Pipes for the Cross-Border EACOP Project

The East African Crude Oil Pipeline (EACOP) Project reached a major milestone on December 12, when the first batch of pipes for the cross-border pipeline landed in Dar es Salaam. The company and its shareholders, including SuperDoll, the local logistics partner, expressed their joy and excitement at the storage yard where the pipes were delivered. The communities hosting the operations will benefit from preferential treatment in hiring and.... Read more »

Posted on : Friday , 9th February 2024

Nairobi County says it intends to create the largest wood furniture sector in Kenya

By targeting 27 key counties, the Nairobi City County government's aggregation and industrial parks initiative will soon establish the nation's first wood furniture business. Opportunities for County Executive, Business, and Hustler According to Maureen Njeri, Nairobi City County was one of the 27 counties chosen to carry out the CAIPs project, and funding for it has been allocated for the current fiscal year. We will be building an.... Read more »

Posted on : Tuesday , 6th February 2024

Chinese Electric Vehicle maker BYD debuts in Rwanda

An "ecosystem of services to support the vehicles" is included with this. Incorporating charging stations, offering solar power generation options, and providing car maintenance, support, and replacement parts are all included. The capital of Rwanda currently has close to 200 EV charging stations. The first BYD (Build Your Dreams) auto dealership in East Africa opened its doors in Kigali recently thanks to CFAO Mobility.The 330 square.... Read more »

Posted on : Tuesday , 6th February 2024

The Partnership for Education of Health Professionals (PEP) Program Launched in Kenya.

The Novo Nordisk Foundation helped to develop the program at the Kenya Medical Training College's Gatundu campus.The Novo Nordisk Foundation launched the project in 2023 with the goal of reducing health disparities. Its initial focus is on the education of medical professionals in underprivileged areas of India and East Africa.The overworked healthcare systems in low- and middle-income nations like Kenya served as the impetus for the.... Read more »

Posted on : Friday , 2nd February 2024

Kenya wants to increase GDP through Manufacturing

In order to boost Kenya's manufacturing sector and bring it up to 15 percent of the country's GDP by 2027, the government launched an ambitious strategy. At a consultative meeting organized by the Ministry of Investments, Trade and Industry, Cabinet Secretary Rebecca Miano made a strong case for cooperation and coordinated action on behalf of State Corporations, Agencies, and Departments. "This program aims to radically reshape.... Read more »

Posted on : Friday , 2nd February 2024

Kisumu Launches a Sh1.4 Billion Scheme to renovate tarmac roads, install street lights, etc

A project of Sh1.4 billion has been launched by the Kisumu government to convert slums into contemporary residential zones. The county was eligible for the second Kenya Informal Settlements Improvements Project (KISIP 2), which is why this is happening. KISIP 1 had previously been successfully adopted by the county. Nyalenda, Obunga, Manyatta, Migosi, Nyawita, Kaloleno, Shauri Moyo, Kibuye and Muhoroni are the slums.... Read more »

Posted on : Thursday , 1st February 2024

Africa's off-grid energy cold storage projects will benefit from $1.09 million in funds secured by InspiraFarms

Recent funding of $1.09 million (€1 million) has been obtained by InspiraFarms Cooling, a well-known cooling solutions supplier with headquarters in Kenya. The company's off-grid energy cold storage initiatives throughout Africa will benefit greatly from this contribution. Key participants in this round of investment include Factor, KawiSafi and the Foundation for Clean Energy and Energy Inclusion for Africa (CEI Africa). With the.... Read more »

Posted on : Thursday , 1st February 2024

Kenya Introduces Its E-Commerce Plan In An Effort To Fully Utilise The Digital Economy.

In order to encourage effective and sustainable development, UNCTAD supports the East African country in addressing obstacles and strengthening healthy electronic commerce. Kenya on December 13th unveiled a national e-commerce strategy aimed at strengthening its standing as Africa's digital leader by encouraging broad and inclusive use of e-commerce services that are based in Kenya and are safe and reliable. The plan was driven.... Read more »

Posted on : Thursday , 1st February 2024

Residents of Seme Celebrate the Commissioning of the Sh37 Million Water Project

Over 148 homes in West Seme Ward will soon have access to clean drinking water thanks to a Sh37 million project, which will enhance the public health of the area. It includes a 160-meter working borehole, an elevated steel tank with a capacity of 58.3 cubic meters, and a 6.3-kilometer water delivery system that serves the rural communities of Kokelo, Kaura, and Kachura villages. At the commissioning event, Kisumu Deputy Governor Dr..... Read more »

Posted on : Friday , 2nd February 2024

Gravita India Shares Gain as Company Opens A Plastic Recycling Plant In Tanzania

On Thursday, Gravita India Ltd.'s stock increased by 3% after the company's announcement that its subsidiary had started up at the Tanzanian plastic recycling factory. According to a filing to the stock exchanges, the recycling company, which has manufacturing centers across the world, has begun the commercial production of Recycled Polypropylene Granules at its new plastic recycling facility in Tanzania, East Africa. This facility is.... Read more »

Posted on : Thursday , 1st February 2024