Market News Page No. 24| Africa Business News

Tanzania's timber sector is expected to see significant growth.

An rise in the number of wood processing industries is expected to significantly strengthen Tanzania's timber sector. This breakthrough has opened up a new chapter for the sub-sector and fully integrated the private sector. The timber business has benefited greatly from the public-private partnership's ability to handle numerous challenges and the prohibition on timber harvest permits has helped the sector. Almost 4,000 firms related to the.... Read more »

Posted on : Wednesday , 8th November 2023

Carrier Commercial Refrigeration and GIZ will establish the first-ever training centre in East Africa to advance cold chain development and decarbonisation.

In order to establish the first carbon dioxide (CO2) transcitical regional supermarket training centre in East Africa, Carrier Commercial Refrigeration, a leading provider of high-efficiency refrigeration systems and services to the food retail and cold storage industries, is working with the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH's Green Cooling Initiative, which is funded by the International Climate Initiative.... Read more »

Posted on : Tuesday , 7th November 2023

Kiambu County Government Intends to Use Solar-Powered street Lights

After an announcement that Kiambu County Government has been paying Sh1.7 billion a year for electricity costs related to street lights, the government intends to switch to solar lighting systems. According to Governor Kimani Wamatangi, the county's monthly electricity expense for street lighting is Sh 142 million and because power prices are rising, that amount might soon reach Sh 200 million. Wamatangi stated that he has.... Read more »

Posted on : Tuesday , 7th November 2023

Sh500 Million Industrial Park to Be Built In Nyeri, Kenya

An agreement has been signed by the County Government of Nyeri and a local contractor for the building of an aggregate and industrial park in the Kieni constituency, valued at Sh500 million. In the next 24 months, the park a collaborative effort between the national and county governments will be operational, according to Chief Officer in Charge of Trade George Mwangi. Each of the two tiers of government would put in Sh250 million for the.... Read more »

Posted on : Friday , 3rd November 2023

Tanzania's Deputy PM invites mining investors

The accommodating atmosphere in the mining sector of the country has attracted both global and local investors, according to Deputy Prime Minister Dr. Doto Biteko. Dr. Biteko delivered the remarks in Dar es Salaam during the two-day 2023 International Mining and Investment Meeting, which was supported by Geita Gold Mine Limited (GGML). Bringing together more than two thousand participants from both inside and outside the nation, he.... Read more »

Posted on : Wednesday , 1st November 2023

Kenya Wants to Import 20,000 Electric Cars a Year in Order to Become Less Dependent on Fossil Fuels

Kenya projects bringing in approximately 20,000 electric vehicles consistently to satisfy developing need and lessen the weight of utilizing petroleum derivatives, as per a report delivered. The Kenya Monetary Report 2023, gave by the Kenya Institute for Public Policy Research and Analysis (KIPPRA), an administration figure tank, said the drive of bringing in additional electric vehicles would diminish reliance on non-renewable energy.... Read more »

Posted on : Tuesday , 31st October 2023

State-owned Automobiles will Use Renewable Fuel

The Government Procurement Services Agency (GPSA) has started the cycle pointed toward making all administration vehicles utilize packed flammable gas (CNG) to reduce oil based commodities expenses. The GPSA Acting Head of Correspondence and Advertising, Mr Peter Mayila, expressed as of late in Morogoro that to execute the prog ram in this monetary year will begin with three pilot CNG filling stations in Dar es Salaam, Morogoro and.... Read more »

Posted on : Tuesday , 31st October 2023

Kenya Will Receive Ksh 26 Billion from a Chinese Manufacturer of Medical Devices

The Chinese medical device maker through its neighborhood auxiliary Full Care Clinical, said the plant will assist it with growing its dissemination of basic clinical supplies in Sub-Saharan Africa. "After broad assessment of business sectors and site areas, we have chosen Kenya and Tatu City as the base for our worldwide extension. We are focused on advancing the advancement of Kenya's medical services industry, developing nearby ability.... Read more »

Posted on : Wednesday , 25th October 2023

Manufacturers Switch to Gas, Boost Profits.

At an estimated 57 trillion cubic feet of gas reserves both in the Indian Ocean and offshore, Tanzania holds east Africa largest gas deposits, with an annual production of 110 billion cubic feet from three fields: Songo Songo, Mnazi Bay, and Kiliwani. Currently the country annual natural gas production stands at 68.02 billion cubic feet as compared to 59.96 billion cubic feet recorded in the same period of 2021/22 which is equivalent to 13%.... Read more »

Posted on : Monday , 23rd October 2023

Tanzania Plans to Start the Fifth Round of Oil and Gas Licencing By June

Tanzania is hoping to officially launch the country's 5th oil and gas authorizing round by June and grant licenses to the victors by December of that very year, the chief general of its Petroleum Upstream Regulatory Authority (PURA) said on 5th October. "By the end of the first quarter of 2024 in the middle of between the first and second quarter we will launch the bidding round or the roadshow," said PURA chief general Charles Sangweni on.... Read more »

Posted on : Monday , 23rd October 2023

15 Winners of the AFSIA Solar Awards 2023 Were Announced In Nairobi At REFA

The winners are finally known. The winners of the fourth AFSIA Solar Awards were announced live from Nairobi in Kenya at the Renewable Energy Forum Africa (REFA). A total of 15 companies were honoured in the competition’s 13 categories. Among the winners was Gigawatt Global in the “Utility Project of the Year” category. The Amsterdam-based independent power producer (IPP) built Burundi’s 1st PV solar power plant (7.5 MWp) at Mubuga,.... Read more »

Posted on : Friday , 20th October 2023

Tanzania Uses Solar energy to Increase Job Opportunities for Youth

MORE than 200 young people from four regions have been trained in renewable energy skills to help them secure employment in the environment-friendly sources of fuel. The Germany Corporation for International Cooperation (GIZ) Employment and Skills for Development in Africa (E4D) programme introduced the Enabling Youth Employment in Solar Energy in Tanzania project to support 200 youth, among them 40% are women, to access employment in the.... Read more »

Posted on : Friday , 20th October 2023