Market News Page No. 7| Africa Business News

Kenyan Cabinet Approves Ksh43.4 Billion for Clean BRT System Project

The Kenyan Cabinet has approved a Ksh43.4 billion project called the Clean Bus Rapid Transit (BRT) System, which will transform public transportation in Nairobi County. Following a €320 million (Sh43.4 billion) financial package, the government will connect Ngong Town and Tala to enhance public transport reliability. The project will include the comprehensive design and building of the bus corridor, as well as the construction of a bus.... Read more »

Posted on : Thursday , 2nd January 2025

The Ethiopian Government Begins Power Supply Trials Between Kenya and Tanzania

Ethiopia started the East Africa Electric Highway Project, which involves testing power supplies between Kenya and Tanzania. This milestone comes after the Ethiopia-Kenya power transmission line was completed, which was made possible by a sophisticated power supply network. Region-wide energy cooperation has advanced with the start of trial operations for the next phase, which connects Kenya and Tanzania. Expected benefits of the project.... Read more »

Posted on : Thursday , 2nd January 2025

Expanding Manufacturing in Kenya

Kenya has a masterful industrial policy that is comparable to the greatest of them. The program aims to promote labor-intensive light industries where the nation has a competitive advantage, import substitution, export-led growth, including export processing zones (EPZs), and more.It aims to increase manufacturing's share of the GDP to 15% and establish "Made in Kenya" as a worldwide brand. But in order to revive manufacturing, Kenya needs to.... Read more »

Posted on : Monday , 9th December 2024

The Rise of New Forests in Africa: Implications for the Timber Industry

New Forests, a global investment manager of nature-based real assets and natural capital strategies, has appointed Kenya-based Yida Kemoli as managing director of Africa operations to further tap into the country's vast resources, including forests and timber.Mr Kemoli will be responsible for driving the strategy for the company's African business, fundraising for African forestry strategies, delivering investment returns and impact outcomes for.... Read more »

Posted on : Thursday , 5th December 2024

The Ethiopian Government plans to Export Electricity to Tanzania via Kenya

Ethiopia intends to export 100 megawatts of electricity to Tanzania via Kenya as part of an expanding push to trade electricity across international borders. Following agreements that make it easier to transmit power across the three countries, Ethiopian Electric Power (EEP) announced the action. Moges Mekonnen, Director of EEP Communications, said that ongoing negotiations could change the ultimate amount of electricity to be exported..... Read more »

Posted on : Thursday , 5th December 2024

Kenyan Government Advances Plans to Build the Country's First Nuclear Power Plant

Kenya's Nuclear Power and Energy Agency (NuPEA) officials stated that the nation is on schedule to begin building its first nuclear power station by 2027. The facility will start producing electricity by 2034, the organization stated during a parliamentary hearing this month. As more African nations explore constructing nuclear power plants to provide electricity in response to the continent's growing demand for electricity, Kenya's action.... Read more »

Posted on : Wednesday , 4th December 2024

New FAW Truck Lineup Revealed by TransAfrica Motors

At a private ceremony in Nairobi, TransAfrica Motors unveiled its newest range of FAW trucks, displaying the newest models designed to withstand the challenging African road conditions. Dealers, industry partners, and stakeholders gathered at the gathering to receive a personal look at the new trucks' features and performance. Mr. Karama, Branch Manager at TransAfrica Motors, highlighted the company's dedication to offering automobiles that.... Read more »

Posted on : Wednesday , 4th December 2024

The African Development Bank Has Granted a $75 Million Loan to Improve Cardiovascular Disease Preventive and Treatment Capacity

The African Development Bank's Board of Directors has granted a $75 million loan to Tanzania to cover the second stage of the Centre of Excellence for Skills and Tertiary Education in Biomedical Sciences project. The project's overall cost is anticipated to be $83.3 million, with the Tanzanian government giving $8.33 million in counterpart funding. The project will last five years, from 2025 to 2029. The overall objective is to create.... Read more »

Posted on : Wednesday , 4th December 2024

Afreximbank Collaborates With Med Aditus to Increase Local Pharmaceutical Production of Vital Medicines in Kenya

African Export-Import Bank (Afreximbank) and Kenya-based Med Aditus Pharmaceutical Kenya Limited (Med Aditus) have signed a heads-of-terms agreement for a project preparation facility on the sidelines of the fourth African Sub-Sovereign Governments Network (AfSNET) Conference in Kisumu, Kenya. The project preparation facility will be used to help fund feasibility studies for the establishment of Med Aditus' pharmaceutical manufacturing.... Read more »

Posted on : Wednesday , 4th December 2024

Kenya Aims to Catch Up to Developed Countries in the Green Energy Revolution at Cop29 in Baku

Solar energy has been used since the 17th century, when photovoltaics (PV), a technology that uses semiconducting materials to turn sunlight into electricity, was first developed. Despite continuous discussion regarding the technology's origins, solar panels have unquestionably secured a place in the global clean energy industry. Delegates to the UN Framework Convention on Climate Change, especially those from wealthier nations, have.... Read more »

Posted on : Monday , 2nd December 2024

Growth in Investment and New Energy Possibilities in African Nations

Africa's energy landscape is experiencing an enormous shift and the continent is seeing a large influx of investments and opportunities. International investors, development institutions, and private sector players are showing interest in the continent, which is becoming a major player in the global energy transition due to its abundance of natural gas and renewable energy supplies. Africa is now at the forefront of the development of.... Read more »

Posted on : Monday , 2nd December 2024

Australia Invests $3.6 Billion in Tanzania Mining Industry

According to a recent Tanzanian government estimate, mining contracts with Australian businesses have been worth over Sh 10 trillion ($3.6 billion) over the last two years, according to the Australian High Commission. This was said by Mr. Scott Morriss, the Trade Commissioner for Africa at the Australian High Commission, at the city's Australian Tanzania Mining Breakfast panel discussion. Although the amount of investment and Australian mining.... Read more »

Posted on : Monday , 2nd December 2024