Market News Page No. 79| Africa Business News

UK firm set to design Sh28bn Railways City

A plan to build a Sh28 billion city has moved a notch higher after the Nairobi Metropolitan Service in partnership with Kenya Railways picked UK firm Atkins Global to design the project.The deal will see the firm design the iconic Nairobi Railways City, multi-modal urban development project which will be situated in Nairobi at an unknown cost.The project will be situated within 425-acres, of which 292 acres is owned by the Kenya Railways and.... Read more »

Posted on : Wednesday , 19th January 2022

RWANDA: BRD Prepares Third Tender for Off-Grid Photovoltaic

The Development Bank of Rwanda (BRD) is seeking consultants to prepare the 3rd tender of the $48.9 million Renewable Energy Fund (REF). The initiative aims to deploy PV and mini-hydro grids with a capacity of 10 kW to 1 MW across the country. These hybrid mini-grids will be coupled with battery storage. The selected consultant will be responsible for evaluating pre-feasibility and feasibility studies, and loan applications for.... Read more »

Posted on : Wednesday , 19th January 2022

Kengen Ramps up Plans to Build Solar Panel Production Plant

Electricity generating firm KenGen is gearing up to start production of solar panels. The company is looking to tap into the growing demand for solar power products locally while diversifying its revenue streams. KenGen in December 2021 started the search for a company to construct a manufacturing plant at its Tana Power Station in Murang’a County. “Over the years, KenGen has invested heavily in the generation of.... Read more »

Posted on : Wednesday , 19th January 2022

Tanzania Sign USD 1.9B Contract to Build 3rd Phase of SGR Railway

On 28th December 2021, the President of Tanzania Samia Suluhu Hassan witnessed the signing of the agreement for the construction of the 3rd phase of the Standard Gauge Railway (SGR) connecting Makutupora to Tabora. The agreement was signed between the Tanzania Railways Corporation (TRC) and Yapi Merkezi of Turkey at a ceremony held at the State House in Dar es Salaam. The construction of the section includes 294 km of main rail and 74.... Read more »

Posted on : Tuesday , 18th January 2022

Tanzania Exports Up 13% In YE November 2021, Tourism Income Up 48%

The Bank of Tanzania (BOT) Monthly Economic Review-December 2021 indicates that in the year ending November 2021 exports of goods and services amounted to US$ 9,789.9 million, higher than US$ 8,614.6 million in the corresponding period in 2020. The growth was driven by a rise in exports of non-traditional goods, travel receipts and transportation. Tanzania Exports of Goods Year Ending November 2021 Exports of goods.... Read more »

Posted on : Tuesday , 18th January 2022

10,000 CBC Classrooms in Kenya to Be Constructed By End Of 2022

Education Cabinet Secretary (CS) Prof. George Magoha recently announced that a total of 10,000 Competency-Based Curriculum (CBC) Classrooms in Kenya, will be constructed before the end of 2022 for occupation by Junior Secondary Schools learners come January 2023. Magoha made the announcement while speaking after breaking grounds for the construction of two classrooms at the Mombasa Secondary School for the physically handicapped, and.... Read more »

Posted on : Thursday , 13th January 2022

Kenya and Japan sign Memorandum of Cooperation to improve public health systems

Under the Africa Health and Wellbeing Initiative, Horie Ryoichi, Ambassador of Japan to Kenya, and Hon. Mutahi Kagwe, Cabinet Secretary for Health, Ministry of Health of Kenya, signed a Memorandum of Cooperation (MoC) between the Office of Healthcare Policy, the Cabinet Secretariat of Japan, the Ministry of Health, Labour and Welfare of Japan, and the Ministry of Health of the Republic of Kenya in the fields of Healthcare and Wellness. The MoC.... Read more »

Posted on : Tuesday , 11th January 2022

Square Pharma will begin manufacturing drugs in Kenya

Square Pharmaceuticals Ltd will be the first Bangladeshi business to manufacture medicines in overseas, once it begins production in Kenya in January 2022. The trial period began in December 2021. According to the company's financial statements, the project's construction began in 2019 and was initially scheduled to be completed in early 2021. The global outbreak of Covid-19, on the other hand, had a significant impact on.... Read more »

Posted on : Tuesday , 11th January 2022

Rwanda: Regional Business Organization Signs Agreement to Attract More US Investments

The East African Business Council (EABC) and the Africa Global Chamber of Commerce (AGCC) inked a Memorandum of Understanding to entice greater US investment into the six-member East African Community. The agreement outlines several areas of collaboration, including showcasing trade and investment opportunities in the EAC bloc, industrial exchange programmes and trade missions to the United States, joint exhibitions and conferences,.... Read more »

Posted on : Monday , 10th January 2022

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