Market News Page No. 5| Africa Business News

$130.5 Million LPG Facility Starts Construction in Mombasa, Kenya

Construction has begun on a $130.5 million re-filling plant for liquefied petroleum gas (LPG) and 30,000-ton storage facility at the Dongo Kundu Special Economic Zone in Kenya. Construction started on 24th February by Tanzania-based LPG distributor, Taifa Gas, and will service both Tanzania and Kenya in a bid to make clean cooking gas more affordable and accessible for both East African countries. “We are investing in infrastructure.... Read more »

Posted on : Thursday , 23rd March 2023

Tanzania Kick-starts Contract Preparations for $30B LNG Project

Global energy majors Shell and Equinor have officially started the contract preparations for the development, operation, and maintenance of a $30 billion liquefied natural gas (LNG) terminal in Tanzania. The preparations follows the finalization of project negotiations with the Tanzanian government. According to H.E. January Makamba, Minister of Energy of Tanzania, “Negotiations on the construction of the LNG project were complete,.... Read more »

Posted on : Thursday , 23rd March 2023

Export Revenue Brings In $1.75 Billion for Ethiopia

The Service of Exchange and Local Reconciliation reported that Ethiopia had the option to acquire USD 1.75 billion from trades during the main portion of the 2022/2023 monetary year. The product of farming wares got 77.23% of the complete profit while the commodity of fabricated merchandise, dairy and meat items, electric power, and mining items took a 10%, 2.9%, 2.9%, and 6.62% offer in the all-out income, separately. As per the.... Read more »

Posted on : Tuesday , 14th March 2023

Ethiopia Will Sign Agreements to Export Wheat worth USD 200 Million

Ethiopia is ready to ink arrangements which absolute USD 200 million to supply wheat to non-legislative associations including the World Food Program. Arrangements to sell 3 million quintals of wheat have previously been endorsed with six nations including Kenya and Sudan. The nation hopes to create 52 million quintals of wheat during the ongoing Ethiopian year. Delivering 110 million quintals during the last blustery season was capable..... Read more »

Posted on : Tuesday , 14th March 2023

T3 (EPZ) Limited installs first PET Bottle Recycling Line in Kenya

A Starlinger recoSTAR PET bottle-to-bottle recycling line was ordered by T3 (EPZ) Ltd, a Megh Group company, for its new facility in Athi River, Kenya. T3 wants to help develop a sustainable future that will benefit the nation's society and ecology with the help of this project.The market for recycled PET in Kenya is expanding due to the need to reduce environmental pollution in the nation, protect natural resources and raise public.... Read more »

Posted on : Wednesday , 8th March 2023

Making progress on the manufacturing of human vaccines

Kenya's plan to produce human vaccines and diagnostics domestically is still coming together. After meeting Director General Jerome Kim of the International Vaccines Institute (IVI) at Afya House, Health CS Susan Wafula made the announcement. CEO of the Kenya Biovax Institute Michael Lusiola and Acting Director General for Health Patrick Amoth were also present at the meeting. In order to produce Covid-19 vaccines and other.... Read more »

Posted on : Monday , 6th March 2023

KENYA: Nakuru County joins hands with VEI to conserve water.

KENYA: Nakuru County joins hands with VEI to conserve water.In order to conserve water in the face of shortages exacerbated by climate change, the Nakuru County Government in Kenya will profit from the knowledge of the Dutch consulting company Vitens Evides International (VEI). A partnership contract connects the two companies. In Kenya's Nakuru County, water use by residents and businesses is expected to be reduced by 20–30% on average..... Read more »

Posted on : Thursday , 2nd March 2023

RWANDA: In Nduba, A New Landfill Will Produce Electricity and Fertiliser

A new landfill will soon be built in Kigali, the capital of Rwanda. According to the Water and Sanitation Corporation (WASAC), construction of the site will start in June 2023. The landfill will be located in the Nduba sector, but on a different site from the landfill in operation since year 2012. The future landfill will be built under a public-private partnership (PPP) and equipped with facilities for sorting and recycling part of the.... Read more »

Posted on : Tuesday , 28th February 2023

KENYA: Japan’s Toyota Wins Menengai Geothermal Power Plant Contract

British independent power producer (IPP) Globeleq has awarded Toyota Tsusho Corporation the contract to build the Menengai geothermal power plant in Kenya. The Japanese company will start construction in the first quarter of 2023. The Japanese company Toyota Tsusho Corporation has been appointed to execute the engineering, procurement and construction (EPC) contract for the geothermal power plant in western Kenya. The project, which aims to.... Read more »

Posted on : Tuesday , 28th February 2023

Tanzania, France Sign New Pact to Foster Air Links

Going by the National Bureau of Statistics (NBS), with 100,371 arrivals last year, France brought in the second highest number of arrivals from outside the African continent, after the US, whose figures stood at 100,600. The Basa, meant to attract more tourists, was signed by the Works and Transport minister, Prof Makame Mbarawa, on behalf of Tanzania and France’s minister for Foreign Trade and Economic Attraction, Mr Olivier.... Read more »

Posted on : Monday , 27th February 2023

UAE Firms Troop into Tanzania after President Samia’s Visit

Two more United Arab Emirates companies have made in-roads into Tanzania, following President Samia Suluhu’s trip to the Gulf country last year to seek business. On 6th February, the Tanzania Forest Services Agency (TFS) and UAE-based Blue Carbon LCC announced a joint environmental conservation programme to promote sustainable forest management practices while reducing greenhouse gas emissions. It came after state-owned Emirates.... Read more »

Posted on : Monday , 27th February 2023

Among the top trade-friendly nations in Africa is Kenya

According to a ranking released by the Spanish consulting company Bloom Consulting, Kenya is the seventh most appealing African nation for trade. From the 12th position in the previous assessment, where it was ranked behind Nigeria, South Africa, Ghana, Morocco, Egypt, and Ethiopia, Kenya rose five spots in the most recent rankings. Additionally, the report noted that Kenya was listed among the top 10 nations for the first time since the.... Read more »

Posted on : Monday , 27th February 2023