Market News Page No. 371| Africa Business News | Afrotrade

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Development of Special Economic Zone at Mombasa to Boost Business

The Kenyan government's approval of the development of a Special Economic Zone (SEZ) in Dongo Kundu, Mombasa, expected to boost job creation and regional trade, has been welcomed by business people. The Dongo Kundu bypass, which is part of a three-phase plan to decongest the port city of Mombasa, is set for completion in 2018. Eng. Jean-Baptiste Gasangwa, the Private Sector Federation (PSF) resident representative in Mombasa,.... Read more »

Posted on : Thursday , 25th February 2016

Kenya Among Most Promising Merger Markets in Africa

Kenya is among the most attractive target countries for merger and acquisition activity in Africa according to a new report by a business risk consultancy. Control Risks also names South Africa and Nigeria as other top countries in the continent where investors want to put their money. The report was produced after a survey that involved interviews with 100 merger and acquisition practitioners operating in.... Read more »

Posted on : Thursday , 25th February 2016

Kenya Food Security Project to Get Additional Funding from Israel

The Israeli firm contracted by Kenya to undertake trials for the Galana-Kulalu food security project will have get funding in the next few weeks. Green Arava had been facing cash flow problems that had delayed the project which was due to be completed in March this year. The government is pushing the firm to deliver the 10,000 acre model farm by July ahead of Prime Minister Benjamin Netanyahu's visit and Cabinet Secretary.... Read more »

Posted on : Thursday , 25th February 2016

Kenya County Seeking Sh142m Supplementary Budget for Health

The county government is asking the assembly to approve Sh142 million in its supplementary budget to cater for the health sector and salaries in the current financial year. House Budget committee chairman Moses Ndung'u confirmed on Wednesday that the amount is part of the Sh374 million supplementary budget that was forwarded to the committee by the executive last week. "We are going to sit before the end of this week to.... Read more »

Posted on : Thursday , 25th February 2016

EU funds �4.4m Zambia Power Project

The European Union (EU) has given Zambia 4.4 million Euros in a financial grant for the implementation of the electricity inter-connector project along with Kenya and Tanzania. Energy and Water Development Deputy Minister Charles Zulu said the three country-led power project was being funded by the EU in collaboration with the Common Market for Eastern and Southern Africa. Mr Zulu said the inter-connector project would help.... Read more »

Posted on : Wednesday , 24th February 2016

Tokyo-led Africa Development Summit to be hosted by Kenya in August

Kenyan President Uhuru Ken-yatta said Sunday the sixth Tokyo International Conference on African Development, which Japan cosponsors with the United Nations and the African Union, will be held in Nairobi on Aug. 27 and 28. Kenyatta made the announcement at a joint news conference with Katsuyuki Kawai, a special adviser to Prime Minister Shinzo Abe, in the Ethiopian capital of Addis Ababa. TICAD has been held in Japan every five.... Read more »

Posted on : Wednesday , 24th February 2016

Turkish Company to construct a US$ 400m peat-fired power plant in East Africa

A US$ 400m peat-fired power plant is set to be constructed in Southern Rwanda by a Turkish company, Hakan Mining and Generation Industry and Trade Inc. The 80MW power plant is under a power purchase agreement (PPA) signed by the Rwandan government. The agreement gives them the go ahead to design, finance, build, own and operate the plant using peat extracted from south Akanyaru in Gisagara District. Hakan’s.... Read more »

Posted on : Wednesday , 24th February 2016

Major dam in Kenya to be constructed

A major dam in Kenya dubbed the largest water project in the semi-arid area is set to be constructed that will supply water and electricity to millions of residents, Water Cabinet Secretary Eugene Wamalwa has announced. Thwake Dam at the confluence of Thwake and Athi Rivers will supply water to over one million residents of Machakos, Makueni and Kitui counties as well as generate 20 megawatts of electricity to power Konza Tech.... Read more »

Posted on : Wednesday , 24th February 2016

Tanzania & Uganda exploring Geothermal Projects to Plug Power Deficit

Uganda and Tanzania are set to begin generating electricity from geothermal resources to plug the supply deficit. In East Africa, Kenya is leading in power generation using underground steam. Green Impact Development Services (GIDS) is carrying out exploration and evaluation of geothermal resources with aim of developing a 100MW power plant at Buranga in western Uganda. The Tanzania Geothermal Development Company.... Read more »

Posted on : Wednesday , 24th February 2016

China gets contract to scan for minerals in Kenya

Kenya has contracted a Chinese firm to carry out fresh mineral mapping at a cost of Sh7 billion. The aerial survey is expected to compile a new geological map detailing the occurrence of minerals around the country, a step that is set to spur investment in the mining sector. Mining Permanent Secretary Mohammed Mahmud said China has released funding for the project that could start in June. “Our aim is to locate the minerals and.... Read more »

Posted on : Tuesday , 23rd February 2016

Campaign to light up off-grid areas launched by Tanzanian solar firm

Mobisol Marketing Manager Allan Rwechungura said in Dar es Salaam at the weekend that the campaign targets to improve lives of hundreds of thousands of Tanzanians living in off grid areas -- particularly those in rural areas where power supply is still a problem -- by enabling them to access affordable solar power. “This new campaign is part of our efforts to complement the Government’s ambitious plan to ensure that the.... Read more »

Posted on : Tuesday , 23rd February 2016

Equity, Indian Solar firm tie up to offer low interest loans to equipment buyers

Equity Bank has partnered with an Indian solar energy firm to advance buyers of its equipment loans at interest rates of as low as eight per cent. The lender said that the deal with Orb Energy is meant to trigger uptake of solar water heating equipment, solar lamps, solar powered TV and solar panels. Interest on the loans that target homes, retail and businesses will range from between eight per cent to 21 per.... Read more »

Posted on : Tuesday , 23rd February 2016

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