Market News Page No. 69| Africa Business News

SA based electric car maker sets up shop in Nairobi

Agilitee Africa, a South African-based electric car manufacturer, has opened a branch in Nairobi as it aims to grow into the East African market. Mandla Lamba, the business's Chief Executive Officer, stated that the company intends to spend Sh111.2 million in its Nairobi-based subsidiary, Agilitee East Africa. "We will formally begin operations in Kenya in early December of this year. We are already selling our goods, and the reaction.... Read more »

Posted on : Friday , 26th November 2021

Tanzania demands higher timber and wood supply

In Tanzania's fast developing economy, rising demand for timber and wood supply from industrial plantations and natural forests have created a new source of income for smallholder farmers in Tanzania's Southern Highlands, which is experiencing a tree-growing boom. Woodlots are becoming increasingly common in East Africa as a result of growing urban demand for lumber, electric poles for rural electrification initiatives, firewood, and.... Read more »

Posted on : Friday , 26th November 2021

Walkabout Resources expects to begin production at Lindi Jumbo in Q3, 2022, notwithstanding the hurdles posed by the COVID-19 epidemic.

The corporation has already hired a local contractor to handle the earthmoving and civil work on the job site. 'The contractor is currently putting all of the civils in place so that when the plant arrives from China, it can be installed.' We've also made the first payment to our EPC contractor (Yantai Jinpeng Mining Machinery Co. LTD) so they may finish the equipment we bought two years ago. The first shipment of the plant is expected to arrive.... Read more »

Posted on : Friday , 26th November 2021

French minister unveils electric vehicles in Tanzania

Franck Riester, France's Minister of Foreign Trade and Economic Attractiveness, formally presented the ecologically friendly electric automobiles developed by E-Motion Africa. E-Motion Africa was founded in 2019 with the goal of delivering an unique and easy solution to Tanzania's decarbonization dilemma by converting the diesel engine of safari vehicles into an electric motor driven by solar energy. "There is no gas emitted. It is.... Read more »

Posted on : Wednesday , 24th November 2021

Construction of the Sumbawanga Airport in Tanzania will start soon.

The actual building of Sumbawanga Airport, which is located in Rukwa Region, one of Tanzania's 31 administrative areas, is poised to commence following the completion of exploratory work, as recently revealed by Mgeni Mwanga, the Acting Regional Director of Tanzania National Roads Agency (TANROADS). TANROADS is an Executive Agency within the East African country's Ministry of Works, Transport, and Communications that is in charge of the.... Read more »

Posted on : Wednesday , 24th November 2021

Tanzania Rural Electrification Project: 10,361 Villages Connected To Electricity

Recently, Tanzanian Prime Minister Kassim Majaliwa announced that 10,361 villages out of the East African country's 12,317 villages had been connected to electricity by October 2021, owing to the ongoing Tanzania rural electrification project. Adjourning a two-week parliamentary session in the capital Dodoma, Majaliwa said that the number of villages connected to electricity was equivalent to 84.12% of the East African nation's.... Read more »

Posted on : Tuesday , 23rd November 2021

Tanzania Water and Sanitation Services to Benefit from USD 25M from USAID

Tetra Tech, a consulting and engineering service company, has been awarded by the U.S. Agency for International Development (USAID) a 5 year, US$ 25 million contract to support the Government of Tanzania in expanding and sustaining the delivery and management of water, sanitation, and hygiene (WASH) services in urban and rural settings. Through the USAID Tanzania Water and Sanitation Activity, Tetra Tech will provide engineering and.... Read more »

Posted on : Friday , 19th November 2021

Tanzania to Experience Strong Economic Growth in 2022 and 2023, AfDB Projects

The African Development Bank (AfDB) has recently released its East Africa Economic Outlook 2021 report, estimating that Tanzania’s GDP will grow by 2.8 per cent in year 2021, and projecting a strong rebound for year 2022 and 2023 with 4.9 per cent and 6.3 per cent economic growth respectively. The report reviews the economic performance of the 13 countries under the AfDB’s East Africa Regional Development and Business Delivery Office:.... Read more »

Posted on : Friday , 19th November 2021

Solar Freezers for the Win at the Afcfta Caravan Prize-Giving

The African Continental Free Trade Area (AfCFTA) Caravan Prize celebrates Africa’s SMEs, start-ups, social enterprises and innovator entities keen on harnessing the benefits that will be created by AfCFTA to expand continentally and flourish at the grassroots. Growing out of the earlier AfCFTA Vision and Caravan Africa competitive grants programmes, the Caravan Prize aims to invent transformative ideas to expedite AfCFTA implementation. A.... Read more »

Posted on : Thursday , 18th November 2021

KENYA: CDC, Norfund, Standard and Citi Provide $75 Million Credit to Greenlight

British investor CDC Group is partnering with Norfund, Standard Bank and Citi to open a $75 million line of credit for Greenlight Planet Kenya, the subsidiary of Greenlight Planet. The company will use the local currency financing to accelerate the deployment of its solar home systems in Kenya. Good news for Greenlight Planet. The Kenyan subsidiary of the solar home systems provider now has a USD 75 million local currency (Kenyan shilling).... Read more »

Posted on : Thursday , 18th November 2021

Kengen’s Plan To Advance Renewable Energy In Kenya

Speaking during the Accelerating Clean Technology Innovation and Deployment panel discussion at the COP26 World Leaders Summit in Glasgow, Scotland, MD and CEO of KenGen, Rebecca Miano said the company is committed to the fight against climate change and is supporting the Government of Kenya’s ambition to achieve 100 per cent utilisation of renewable energy by 2030. “Our future project pipeline, which is mostly green, includes.... Read more »

Posted on : Wednesday , 17th November 2021

TANZANIA: UNIDO Will Use Waste to Produce 1.4 Mwh of Electricity

The state-owned Tanzania Electric Supply Company estimates the electricity needs of Mafia Island in the Pwani Region at 2,200 kWh. Currently, the 60,000 residents of Mafia meet a large part of this need (2,180 kWh) with generators, which emit carbon dioxide. The project “Promotion of Waste-to-Energy (WtE) Applications in Tanzania’s Agro-Industries” initiated by the United Nations Industrial Development Organization (UNIDO), aims to.... Read more »

Posted on : Wednesday , 17th November 2021