Market News Page No. 5| Africa Business News

The Manufacturing Industry Is Expected to Boost Kenya's GDP by the Year 2030

The manufacturing sector is expected to boost Kenya's Gross Domestic Product (GDP) by 15% in 2027, and 20% by 2030. According to the finance ministry, the country's economic growth stands at 5.3per cent in 2022 and would be 6 per cent in 2023. To accomplish this, The Ministry of Investments, Trade, and Industry is setting up suitable measures that will further enhance the accomplishment of the objective. According to Nancy Muia,.... Read more »

Posted on : Friday , 28th July 2023

The Tanzanian government will contribute 134 billion to the Tarime-Rorya Water Project.

A total of 134 billion dollars have been allotted by the government to wrap up the Tarime-Rorya Water Project, which will ultimately support more than 933,818 people. After investigating the project, which eventually completion would benefit families from 32 villages in the Rorya district and 81 streets in the tarime district, engineer cyprian luhemeja, the deputy permanent secretary of the ministry of water, delivered the following announcement.... Read more »

Posted on : Thursday , 27th July 2023

Jubilation in Ewangan Village after Getting Solar Panels from Tourists

Residents of Ewangan village within the Sekenani area in Maasai Mara National Reserve are a happy lot after a group of tourists collaborated with Super Africa Wildlife and Adventure Safaris to light their village. The tourists from Hong Kong, Taiwan and China, led by Allen Yeh, donated 15 solar panels to the village so as to improve their living standards. The relationship with the village, Yeh said, began seven years ago when he.... Read more »

Posted on : Wednesday , 26th July 2023

Ethiopian Utility Launches Tender For 20 Solar Minigrids

The Ethiopian Electric Utility has launched a tender for the construction of 20 solar minigrids across several parts of Ethiopia. According to the tender document, which was published on the website arifchereta.com, the projects will be located in the Southern Nations, Nationalities, and People's (SNNP) region, as well as in the Amhara, Somali, Oromia, and Sidama regions. Interested developers have until Aug. 15 to submit their.... Read more »

Posted on : Wednesday , 26th July 2023

Fosroc Invests in a New Production Facility in Nairobi to Access the East African Market.

With the opening of its new manufacturing plant in Nairobi, Kenya, Fosroc, an international company that manufactures construction chemicals, has made a significant advancement in its global growth strategy.In Nairobi, Fosroc Kenya will manufacture liquid, powder, resin and extruded PVC goods making it the firm with the broadest selection of locally produced goods in the building chemicals industry. In addition to adding more.... Read more »

Posted on : Friday , 7th July 2023

Shalom Health Care will invest a total of $250 Million in the construction of a medical equipment manufacturing plant in Hawassa.

Shalom Health Care, a private limited company, broke ground in Hawassa, Ethiopia, on a USD 250 million medical equipment manufacturing plant. The plant, which is expected to be finished in two years, will create 5,000 jobs and reduce the country's reliance on imported medical equipment. Dr. Winta Mehari, CEO of the company, stated that the plant would manufacture a wide range of medical equipment, including syringes, needles, IV bags,.... Read more »

Posted on : Friday , 7th July 2023

Senegal and Kenya Are Expected to Join the IEA

The International Energy Agency's Governing Board unanimously decided that the Republic of Kenya and the Republic of Senegal would become Association nations, highlighting the IEA's growing involvement with Africa on energy and climate concerns. The IEA's member nations unanimously approved the proposal to deepen ties with each nation on June 21 in response to requests from the governments of Kenya and Senegal to become Association.... Read more »

Posted on : Tuesday , 15th August 2023

Kenya and India collaborate to Increase Indian Investment in the Nation

Kenya and India are collaborating on strategies to promote more Indian investment in the nation in an effort to increase trade, investment, manufacturing, and employment possibilities. According to international Affairs Principal Secretary (PS) Korir Sing'oei, the Kenyan government has created an atmosphere that is conducive to company operation and growth, which is essential for drawing in international investment. Speaking at the.... Read more »

Posted on : Tuesday , 15th August 2023

Confederation of Tanzania Industries Applauds Economic Growth Efforts in Government 's 2023/2024

The Confederation of Tanzania Businesses (CTI) has given its investigation and reaction to key features from the Tanzanian Government's 2023/2024 Financial plan Discourse, praising the public authority's obligation to monetary development and modern turn of events. CTI is a main association addressing the confidential area in Tanzania. It has been a key part in the country's monetary undertakings since its foundation in 1991. CTI's job.... Read more »

Posted on : Wednesday , 5th July 2023

Tanzanian Investments Were USD 327 Million in May 2023

The Tanzania Investment Centre (TIC), has quite recently delivered its Month to month Speculation Factsheet-May 2023 which demonstrates that a sum of 52 venture projects worth USD 327.63 million were supported and enlisted in May 2023. These activities are supposed to create 6,279 new positions. Of the 52 venture projects, 21 were in assembling, 17 in transport, 10 in the travel industry, 3 in agribusiness, 2 in business building,.... Read more »

Posted on : Tuesday , 4th July 2023

Leaders From Baringo, Elgeyo Marakwet, West Pokot, and Turkana Countries Agree to Priotise Key Water Projects.

Leaders From Baringo, Elgeyo Marakwet, West Pokot, and Turkana Countries Have Decided to Prioritise Major Water Projects to Relieve the Region's Water Crisis. The Leaders Met at the Lake Bogoria Spa Resort in Baringo County and Pledged That They Would Work Together on the North Rift Economic Bloc (NOREB) Initiatives. The Chemususu Dam, the Weiwei Irrigation Scheme, Kerio Valley Development Authority (KVDA) Projects, and the Turkwel Dam.... Read more »

Posted on : Tuesday , 4th July 2023

President Ruto Expresses Kenya to Be Among Africa's Top Driving Automobile Producers

President William Ruto has manifested certainty that Kenya will recover its legitimate spot among Africa's top driving vehicle producers like South Africa and Morocco.President Ruto says that the public authority is focused on facilitating more car players in a bid to expand the local creation of vehicles. He said the National Automotive Policy has established a favourable atmosphere for firms to set up in Kenya further taking note of that.... Read more »

Posted on : Tuesday , 4th July 2023