Market News Page No. 25| Africa Business News

WHERE TO INVEST IN AFRICA 2024

Amidst the global highs and lows, Africa emerges as a beacon of opportunity, inviting investors to explore a wealth of potential in the coming year.Renowned Kenyan businessman and financial expert, Nazir Jinnah, shares insights on key areas ripe for investment, highlighting the continent's untapped potential.Jinnah emphasizes the growing momentum in Africa's embrace of sustainable practices, particularly in renewable energy projects.With solar.... Read more »

Posted on : Tuesday , 12th December 2023

Kenyans Switch to Chinese-Made Solar Floodlights to Illuminate Their Homes.

The world's biggest retail network of Chinese-imported electronics and electrical goods is located in Nyamakima, a shopping district in Nairobi, Kenya, where dealers from all over the country congregate. Retailers here purchase goods in large quantities from China and resell them to other merchants. Bulk couriers deliver packages throughout the nation, especially to South Sudan and Uganda, which are nearby. But the thing that stands.... Read more »

Posted on : Friday , 8th December 2023

Partnership talks between InspiraFarms Cooling and Celtic International

The process of purchasing Celtic Cooling's African operations has been disclosed by InspiraFarms Cooling, a prominent supplier of cooling systems throughout Africa. InspiraFarms Cooling is taking advantage of this golden opportunity to make a contribution towards increasing its market share in Africa. There are numerous benefits to incorporating the Celtic businesses located in Ethiopia, Ghana and Kenya into InspiraFarms Cooling's.... Read more »

Posted on : Thursday , 7th December 2023

Ethiopia and UAE's AMEA Power Sign $600 Million Wind Farm Agreement

Ethiopia has signed an agreement with United Arab Emirates' AMEA Power for the construction of a 300 megawatt wind farm at a cost of USD 600 million, its finance ministry said on 1st December 2023. The Horn-of-Africa nation is turning to renewable energy to boost electricity coverage, which stood at 50 percent of the population in 2020 according to the World Bank, leaving 60 million people outside of the grid. The Aysha wind farm will.... Read more »

Posted on : Wednesday , 6th December 2023

The Nyerere Hydropower Plant in Tanzania Is Being Connected to the National Grid

Tanzania's power utility company announced that the connection of electricity from the mega Julius Nyerere Hydropower Project (JNHPP) to the national grid began In November. The Tanzania Electric Supply Company Ltd. (TANESCO), a government-owned company, said in a statement that trial runs will follow the connection of power to the national grid. "Connection of power to the national grid is a milestone to the country's electricity.... Read more »

Posted on : Wednesday , 6th December 2023

KenGen Issues A 40 MW Kenyan Floating Solar Project Tender

Kenya Electricity Generating Company (KenGen) is seeking consultants to assess the viability of a floating solar power plant with a potential capacity of around 40 MW. The project, backed by the German Development Bank (KfW), aims to be situated on the Kamburu Hydropower Plant Reservoir in Kenya. KenGen had previously conducted a pre-feasibility study in 2020, recommending a 40 MW floating PV project on the Kamburu dam due to factors.... Read more »

Posted on : Tuesday , 5th December 2023

UNHCR Uses Innovative Solar Projects in Kenya and Uganda to Promote the Renewable Energy Agenda

The UN Refugee Agency (UNHCR) has commenced the implementation of solar installations in three of its office locations in Kenya and Uganda, benefiting a combined population of over 650,000 displaced individuals in Kakuma, Adjumani, and Yumbe. This initiative, part of the Green Financing Facility (GFF), represents a pioneering approach to financing renewable energy projects in fragile settings. Launched in 2019 with support from the Swedish.... Read more »

Posted on : Tuesday , 5th December 2023

Tanzania has a burgeoning woodworking sector

Tanzania is a budding market for the woodworking industry, there are several companies that operate sawmills in Tanzania, such as Wood Export Co., Energo Tanzania, Green Resources, Pethad Trading Company Limited, Wood Industry Solutions, Hope General Supplies, Gats Solutions Co Limited, Ifundaindustrial, Bora Msaky Sawmill, Rasik Lagoon, and Firgos International BV, operate sawmills in Tanzania, which is a developing market for the woodworking.... Read more »

Posted on : Tuesday , 5th December 2023

At the Africa Green Industrialization Initiative, Kenya Secures $4.48 Billion in Green Manufacturing Transactions

NAIROBI, Kenya has announced the signing of green manufacturing agreements worth USD 4.48 billion during the opening of the Africa Green Industrialisation Initiative (AGII). President William Ruto presided over the event, which included coordination with the COP28 Presidency (UAE) and several other African states. The monies, according to Hussein Mohamed, State House Spokesperson, would be awarded to various green manufacturing.... Read more »

Posted on : Monday , 4th December 2023

Exploring the Benefits of Artisanal and Small-Scale Mining Activities in Kenya

The Ministry of Mining, Blue Economy, and Maritime Affairs is carrying out ground truthing and confirmatory fieldwork on the country's 970 acknowledged mineral deposit occurrences. The goal of the fieldwork is to verify the mineral's presence, purity, and amounts throughout 16 counties. Cabinet Secretary for Maritime Affairs, Blue Economy, and Mining Salim Mvurya stated that in an effort to boost the mining industry and guarantee that it makes.... Read more »

Posted on : Wednesday , 29th November 2023

Health Professionals Pledge to Increase Funding for Africa.

During the two-day pre-Kigali conference, a number of African experts, including representatives from the World Health Organisation, UNAids, NEPAD and the AU Business Council, shared best practises and insights gained from the private sector's involvement in health and health financing.More than three hundred attendees from across the continent are expected for the main conference, which is scheduled for February of next year in Kigali,.... Read more »

Posted on : Wednesday , 29th November 2023

Tanzania Government Set to Ink 15 Road Construction Contracts Totalling Over 1 Trillion

The Tanzania Roads Agency (TANROADS) intends to sign 15 contracts for the construction of asphalt roads and bridges for 1.034 trillion shillings to boost infrastructure services in the country. This statement was made by Innocent Bashungwa, Minister of Construction, during supplementary replies in Parliament in Dodoma during the Fourth Session, 13th Meeting. According to Bashungwa, the projects will be implemented using local funding.... Read more »

Posted on : Wednesday , 29th November 2023