Market News Page No. 63| Africa Business News

Rwanda: Why Is Access to Financing Required for the Wood Sector

Experts have stated that the wood sector needs increased access to capital in order to increase its contribution to economic and export development, as well as employment creation. The wood sector employs around 75,000 people in Rwanda, according to Dr. Christian Sekomo Birame, Director-General of the National Industrial Research and Growth Agency (NIRDA), indicating its importance to the country's long-term development. 'We need to.... Read more »

Posted on : Monday , 28th February 2022

Tanzania forms new joint partnerships with mining companies.

Dar es Salaam: Tanzania's government has signed a joint venture deal with four mining corporations, paving the way for Tanzanians to benefit from the country's natural resources. Faru Graphite Corporation, Petra Diamonds Ltd (PDL), Nyati Mineral Sands Ltd, and Sotta Mining Corporation Ltd are the entities created out of the JV and will spend a total of Sh1.755 trillion. Prof Palamagamba Kabudi, the chairman of the negotiating team,.... Read more »

Posted on : Monday , 28th February 2022

The Nairobi Expressway will open on a trial basis in March 2022.

The Nairobi Expressway will be open to vehicles in March, according to Kenya's Transport Cabinet Secretary, James Macharia. The 27-kilometer highway, which runs from Mlolongo via Uhuru Highway to the James Gichuru Road junction in Westlands, will be tested in March 2022, three months sooner than expected. Previously, Kung'u Ndung'u, the director-general of the Kenya National Highways Authority (KeNHA), disclosed that the highway's.... Read more »

Posted on : Monday , 28th February 2022

By 2026, The Market For Led And Oled Displays And Lighting Products In Africa Will Have Reached Its Peak.

According to Future Market Insights' "LED & OLED Displays and Lighting Products Market: Africa Industry Analysis and Opportunity Assessment, 2016-2026," the Africa LED & OLED displays and lighting products market was valued at US$ 684.9 Mn in 2015 and is expected to grow at a CAGR of 17.8% from 2016 to 2026. "Increasing government backing and the introduction of new government projects for LED lighting is boosting the growth of the.... Read more »

Posted on : Friday , 11th March 2022

TANAPA signs deal with two firms to purchases vehicles worth 15bn

TANZANIA National Parks Authority (TANAPA) has agreed to acquire cars and machinery from Al Mansour Auto EA Tanzania Ltd and Hughes Agricultural Tanzania Ltd for more than 15 billion. The agreement was signed yesterday at TANAPA Headquarters in Arusha by the two enterprises and the TANAPA Conservation Commissioner, William Mwakilema, revealing that the two firms had won the tender to supply the authority with cars and equipment. "The.... Read more »

Posted on : Wednesday , 23rd February 2022

Startups are targeting Kenya as an African EV powerhouse

Many e-mobility businesses have set up shop in Kenya to try to get electric vehicles on Kenyan roads, potentially turning the country into a regional centre for EVs. Working to alter areas such as public transit, motorbikes, and taxis, the firms want to leverage on Kenya's position as a worldwide leader in renewable energy, widespread technology adoption, and the government's support for electric cars through favourable.... Read more »

Posted on : Wednesday , 23rd February 2022

Rajsha Pharmaceuticals places a large bet on ayurvedic product export markets

Rajsha Pharmaceuticals, based in Ahmedabad, is looking for export opportunities in markets such as the United States, Canada, and the Commonwealth of Independent States. The company currently has a 30% export share of its overall turnover of Rs 15 crore, which it wants to grow in the coming year. Evergreen Liquid, Giloi Tablets, Vigor Capsules, Anu Oil, and Ayush Decoction are among the new ayurvedic products launched by Trojan.... Read more »

Posted on : Saturday , 19th February 2022

A Colorado marijuana company is planning to expand into Africa via Tanzanian medical clinics

Honest Marijuana Company joins together with a new clinic network to establish an African hub for medical marijuana cultivation and distribution. A marijuana corporation based in Colorado with worldwide ambitions plans to expand into Tanzania, with the intention of eventually breaking into the European market. Honest Marijuana Company, based in Oak Creek and specialising in organic marijuana, is teaming with a new chain of Tanzanian.... Read more »

Posted on : Saturday , 19th February 2022

Qatar, Kenya Discuss Bilateral Relations

Undersecretary of the Ministry of Commerce and Industry H E Sultan bin Rashid Al Chapter met with Deputy Minister of Trade and Industrialization of the Republic of Kenya H E Lawrence Karanja during the latter’s current visit to Qatar. During the meeting, the officials touched on the bilateral relations between the 2 countries in the commercial, industrial and investment fields, as well as ways to enhance and develop them. Moreover, the.... Read more »

Posted on : Friday , 18th February 2022

Africa's Free Trade Area to Boost the Creative Industry, Generate Jobs for the Youth

Africa's Free Trade Area (AfCFTA) is expected to be a boon for the creative sector and generate jobs for the youth. On 1 January 2021, trading under the African Continental Free Trade Area (AfCFTA) kicked off. The trade pact, which seeks to create a single market for goods and services and promote cross-border movement of capital and people, should boost intra-African trade, currently at only 18 per cent and regional integration. It is.... Read more »

Posted on : Friday , 18th February 2022

Tanzania Disburses $80m for EA Oil Deal Shareholding

Tanzania has already disbursed some $80 million (about Sh184 billion) as a part of its commitment in financing the East African Crude Oil Pipeline (EACOP), The Citizen has learnt. The director general of the Tanzania Petroleum Development Corporation (TPDC), Mr James Mataragio, said the parastatal oil company would have to pay a total of $308 million (about Sh708.4 billion) in the construction period covering the next 3 years. The.... Read more »

Posted on : Thursday , 24th February 2022

Tanzania LNG Project Talks Drag On

Tanzania is moving cautiously in its lucrative natural gas deals with no end in sight of the Host Government Agreement (HGA) negotiations, which resumed recently but are set to take longer than expected. Fresh discussions on the HGA over the multibillion-dollar project are being held in Arusha, northern Tanzania, after the negotiating teams finalised preliminary talks in November 2021. After being in limbo for nearly 2 years,.... Read more »

Posted on : Thursday , 17th February 2022