Market News Page No. 42| Africa Business News

Kenya Eyes More Regional Trade after Pact with Two Blocs Kicks Off In March

Kenya could soon start exporting its goods outside the East African Community (EAC) market with the implementation of a tripartite agreement that is expected to be implemented in March this year. The free trade pact that brings together 3 regional business blocs the Common Market for Eastern and Southern Africa (Comesa), EAC and South African Development Community, was mooted seven years ago. However, it stalled after it did not meet.... Read more »

Posted on : Thursday , 26th January 2023

KNCCI Boss Richard Ngatia Lauds Kenya, DR Congo Trade Ties

Business persons from Kenya and the Democratic Republic of Congo (DRC) recently met to discuss trade opportunities under the theme ‘unlocking trade opportunities in East Africa and the Region’. The meet was organized by the Kenya National Chamber of Commerce and Industry (KNCCI) in collaboration with the East Africa Chamber of Commerce and Industry (EACCIA), the Embassy of Kenya in the DRC, and the Federation of Congolese Enterprises.... Read more »

Posted on : Thursday , 26th January 2023

Ampersand will deploy 600,000 electric motorcycles in East Africa by 2030

Mobility startup Ampersand wishes to expedite the development of electric mobility in East Africa. To that purpose, the business has announced the deployment of 600,000 electric motorcycles over the next six months. The two-wheelers will first be utilised in Kigali, Rwanda, where the firm is situated, as well as Nairobi, Kenya, and Kampala, Uganda. Ampersand already boasts 35,000 battery replacements each month and a fleet of around 620.... Read more »

Posted on : Thursday , 26th January 2023

Kenyan government plans to build highway car charging stations

The Kenyan government will build electric vehicle charging infrastructure in all urban areas and along the highways from the next financial year as it hopes to supplement the private sector’s bid to accelerate e-mobility. Njuguna Ndung'u, Treasury Cabinet Secretary, said the government would boost national connectivity through road, rail, port, energy, and fiber-optic infrastructure to provide an enabling environment for economic recovery.... Read more »

Posted on : Thursday , 26th January 2023

Netherlands and Tanzania to Increase Potato Production

Mbeya — Mbeya Area Official Mr Juma Homera has said that the public authority will keep on working with the Dutch government to work with the expansion in potato creation in the country. The RC offered the comments here at the end of the week while gracing the gathering that separated from examining the present status of the potato area and setting techniques to build the development of the harvest likewise sent off potato development.... Read more »

Posted on : Monday , 16th January 2023

Rwandan Coffee Exports To The UAE Are Expected To Increase.

Rwanda's espresso commodities to the Unified Bedouin Emirates are supposed to develop as the nation accomplices with Dubuy, a B2B online business stage by DP World, to carry great Rwandan espresso nearer to shoppers in the UAE and the Bay district. The possibilities of espresso sends out were repeated for the current week at the Espresso Measuring and Testing occasion in Dubai, coordinated to celebrate and advance Rwanda espresso, in the.... Read more »

Posted on : Monday , 16th January 2023

Kenya Poised To Be Petroleum Giant

New Energy CS Davis Chirchir has said Kenya is poised to be the region's next petroleum giant following heavy investments. Chirchir said construction of the Sh40 billion New Kipevu Oil Terminal (KOT 2) is a game changer for the country, especially the energy sector. He said the government is considering investments in storage and evacuation to match the capacity of the new facility. The CS, who was in Mombasa on a.... Read more »

Posted on : Thursday , 12th January 2023

World Largest Oil Firm Aramco Enters Kenya through Buyout

The Competition Authority of Kenya (CAK) gave Aramco Overseas Company, the investment arm of Saudi Aramco, the nod to acquire the Kenyan operations of VGP Holdings as part of the global deal worth $2.65 billion.The acquisition looks set to trigger shifts in Kenya’s fuel lubricants market that is currently dominated by multinational firms such as Vivo – seller of Shell products —, Total Energies and Rubis. Saudi Aramco is the largest.... Read more »

Posted on : Thursday , 12th January 2023

KENYA: Berlin Grants Euro 112 million for Renewable Energy and Green Hydrogen

Kenya and Germany are stepping up their energy cooperation. Berlin wants to rely on hydrogen for its energy transition and replace Russian gas. And as part of this policy, Germany wants to support Kenya in developing new sources of clean energy, including green hydrogen. Like Namibia, where Germany is supporting the production of green hydrogen and its derivatives, Kenya has enormous potential for renewable energy. The East African country.... Read more »

Posted on : Wednesday , 11th January 2023

KENYA: ElectriFi Invests $3m in Solar Energy Provider Solarise

Solarise Africa is again getting funding from the Electrification Finance Initiative (EDFI ElectriFI). The European Union (EU)-funded facility, managed by EDFI Management Company, is injecting $3 million into the South African company’s capital to expand its operations in Kenya. In the East African country and elsewhere on the continent, the company finances and builds solar photovoltaic power plants that are then leased to commercial and.... Read more »

Posted on : Wednesday , 11th January 2023

ETHIOPIA: 4th Resource to Assess Geothermal Resources in Two Regions

Canadian company 4th Resource has been awarded a licence by the Ethiopian authorities to conduct geothermal surveys in 2 regions. The planned studies will measure the intensity of the geothermal resource with a view to developing this renewable energy in Ethiopia. Ethiopia wants to increase the share of geothermal energy in its energy mix. As part of this policy, the Ethiopian Ministry of Mines is granting a geothermal reconnaissance permit.... Read more »

Posted on : Monday , 9th January 2023

TANZANIA: Julius Nyerere Hydroelectric Dam Impoundment Launched

Tanzanian authorities are launching the filling of the reservoir of the Julius Nyerere hydroelectric dam on the Rufiji River. The facility will power the turbines of a 2,115 MW hydroelectric plant, one of the largest in East Africa. News on the Rufiji hydroelectric project in Tanzania. Authorities in the East African country are beginning to impound the dam, which is being built in the heart of the Selous Game Reserve in the Pwani region,.... Read more »

Posted on : Monday , 9th January 2023