Market News Page No. 79| Africa Business News

China grants Kenya Sh51 bn, signs six agreements to boost bilateral ties

Kenya and China have signed six important bilateral agreements aimed at strengthening their ties. The agreements were signed by Chinese Foreign Minister Wang Yi and Kenya's Foreign Affairs Cabinet Secretary Raychelle Omamo, who is on a two-day formal State visit to Kenya. The six agreements include new trade and agricultural collaborations, with Kenya exporting fish and avocados to China. A memorandum of understanding on enhancing.... Read more »

Posted on : Monday , 10th January 2022

Global Trade Centre (GTC) Tower Construction in Westlands, Nairobi, Kenya, Complete

In Westlands, Nairobi, Kenya, the construction of the Global Trade Centre (GTC) Tower that comprises six imposing building structures, has been completed and officially commissioned in a ceremony graced by President Uhuru Kenyatta.In his speech, the president said that the Government of Kenya congratulates the Avic International Real Estate in Kenya, a subsidiary of AVIC International Holding Corporation (AVIC INTL) which is a global.... Read more »

Posted on : Monday , 10th January 2022

Kipevu Oil Terminal Project Timeline and all You Need to Know

Kipevu Oil Terminal (KOT) Project is a modern terminal being developed by Kenya Ports Authority in Mombasa, Coast, Kenya. The project's contractors include China Road and Bridge Corporation (EPC) and CCCC Fourth Harbor Engineering Co Ltd. The scheme's scope include 12.3 million cubic metres dredging work, the hydraulic wharf, the submarine and onshore oil pipeline processing and installation. The scheme was designed to greatly alleviate the.... Read more »

Posted on : Friday , 7th January 2022

Why Africa Is Moving Towards Led Light Bulbs

With the increasing need for lighting solutions in Africa, a consensus is emerging on the necessity for LED light bulbs, which are environmentally friendly lighting products. Man has discovered techniques to ensure that he has light during the night so that he can continue with his activities unhindered since the dawn of time. However, in comparison to what we have today, the lighting system was mediocre. In the past, it was typical to see.... Read more »

Posted on : Wednesday , 5th January 2022

Kenya will build Africa's largest affordable home project utilising 3D printing technology.

In Kilifi town, north of Mombasa, Kenya, 14Trees, a joint venture between Holcim and CDC Group, will build Africa's largest 3D-printed affordable housing project. The revolutionary 3D printing technology helped the 52-house Mvule Gardens project come to life in record time. 14Trees created the world's first 3D printed school in Malawi's Salima district earlier this year. The company's first 3D-printed prototype house in Lilongwe,.... Read more »

Posted on : Thursday , 30th December 2021

IFAD to assist Tanzanian farmers in increasing productivity and gaining market access in order to secure food security.

As part of its COVID-19 response in Tanzania, the International Fund for Agricultural Development (IFAD) is seeking funds in the amount of US$882,841. The assistance, which will be provided through the Rural Poor Stimulus Facility (RPSF), would benefit 6,240 vulnerable small-scale farmers in rural Tanzania. The IFAD award will assist farmers in gaining access to inputs, establishing market connections, and gaining access to.... Read more »

Posted on : Wednesday , 29th December 2021

Kenya's horticulture export revenues increased significantly over the last 11 months.

Kenya's horticulture export revenues increased by 6.4 percent to Ksh 8.7 billion (US$77 million) in the 11 months to November 2021, owing to increased demand for Kenyan produce on the global market as export destinations continue to relax in Covid-19 stipulations. Kenya earned Ksh145.4 billion (US$1.29 billion) for the period under review, up from Ksh136.7 billion (US$1.2 billion) the previous year, according to the Horticultural Crops.... Read more »

Posted on : Wednesday , 29th December 2021

Uber Partners with Opibus to Offer Electric Motorcycles in Kenya

Uber Kenya has revealed fresh ambitions to include electric motorbikes in its ridesharing service. To do this, the startup located in the United States is collaborating with electric car manufacturer Opibus. However, no timetable was provided for when the corporation plans to implement this initiative. However, the need for cleaner transportation, particularly in Kenya's expansive metropolitan centres, has increased dramatically in recent.... Read more »

Posted on : Tuesday , 28th December 2021

Kenya Power intends to set up electric vehicle charging stations in malls, highways

KPLC stated ambitions to expand its presence in the electric car industry by constructing statewide charging stations and fighting for lower import taxes on non-fuel-powered vehicles. The power distributor announced that it will establish a network of public electric car charging stations, so eliminating one of Kenya's major impediments to electric vehicle adoption. It is also negotiating with the state to reduce taxes on electric vehicles.... Read more »

Posted on : Tuesday , 28th December 2021

Africa is showing an increasing interest in the manufacture of engineered wood products.

Africa will be one of the world's greatest marketplaces by 2050, with a population exceeding that of China. The construction of a continental free trade zone is well underway. Africa's population will grow to include a sizable middle class with a growing hunger for consumer goods. These trends present opportunities for investment and expansion in the forest and wood products industries. Tanzania is a promising country, and Margules Groome is.... Read more »

Posted on : Tuesday , 28th December 2021

WHAT ARE THE BENEFITS OF CONSTRUCTION FINANCING IN THE INDUSTRY FOR TANZANIA

Tanzania's quick surge in building activity is undoubtedly a great sight to see as the country's infrastructural development has expanded. Tanzania's building industry has experienced rapid expansion in the last six months, which has had a knock-on impact on the average person. In a news conference, Deputy Minister for Works, Transport, and Communication, Elias Kwandikwa, stated that increased construction finance has a direct and.... Read more »

Posted on : Friday , 24th December 2021

Tanzania's New Mining Equipment Cuts Production Costs

THE STATE MINING Organization (STAMICO) has purchased trucks and machineries worth 1.8 billion/- for drilling and exploring services in an effort to avoid leasing such equipment, which was costing the corporation millions of shillings. Professor Simon Msanjila, Permanent Secretary in the Ministry of Minerals, stated following the formal inauguration of the brand new machines that the new invention sought to increase the corporation's.... Read more »

Posted on : Friday , 24th December 2021