Market News Page No. 7| Africa Business News

Tanzania: EU Ambassadors Give Mwauwasa Projects a Thumbs Up

Last week, an ambassador representing European (EU) nations visited Mwanza and many projects, including the ongoing Butimba Water Treatment Plant (WTP).The Ambassadors at the location acknowledged their happiness with the project's progress, which is over 60% complete. The cooperation of the EU and its member states helped to finance the works to create the pumping and filtration station for the provision of water in Mwanza, according.... Read more »

Posted on : Tuesday , 31st January 2023

Tanzania has begun construction on Phase 4 of the SGR, which will connect Tabora and Isaka.

The Tabora-Isaka leg of the Standard Gauge Railway's foundation stone was placed on January 18, 2023 by Tanzania's Vice President, Dr. Philip Isdor Mpango (SGR). The portion is 165 km long (130 km + 35 km of intersections), and it is situated in the Shinyanga area. The parts are being built by the Turkish firm Yapi Merkezi, and they should be finished in March 2026 after a 42-month construction period. Vice President Mpango.... Read more »

Posted on : Tuesday , 31st January 2023

Getting the most out of Tanzania's timber industry

Tanzanian people are being empowered to manage forests in a sustainable manner.97% of the 48 million hectares of forest in Tanzania are primary forests. Due to the rising need for raw materials and their byproducts, many anticipate that these assets will open up new income prospects for the Tanzanian labour force. In the woods of southeast Tanzania, hardwood timber is one of the more valued natural resources. For rural populations that.... Read more »

Posted on : Tuesday , 31st January 2023

Kenya would serve as an export hub for Africa, according to a proposal unveiled by the ministry.

ANTARA: Jakarta In order to establish Kenya as an export hub for Africa, the Coordinating Ministry of Maritime Affairs and Investment revealed its strategy. "We just arrived from Africa last night. We came from Zimbabwe, the Congo, and Kenya. Currently, we are looking at the Indonesian market there "According to Septian Hario Seto, deputy of investment coordination and mining at the Coordinating Ministry of Maritime Affairs. The.... Read more »

Posted on : Friday , 27th January 2023

Kenya Eyes More Regional Trade after Pact with Two Blocs Kicks Off In March

Kenya could soon start exporting its goods outside the East African Community (EAC) market with the implementation of a tripartite agreement that is expected to be implemented in March this year. The free trade pact that brings together 3 regional business blocs the Common Market for Eastern and Southern Africa (Comesa), EAC and South African Development Community, was mooted seven years ago. However, it stalled after it did not meet.... Read more »

Posted on : Thursday , 26th January 2023

KNCCI Boss Richard Ngatia Lauds Kenya, DR Congo Trade Ties

Business persons from Kenya and the Democratic Republic of Congo (DRC) recently met to discuss trade opportunities under the theme ‘unlocking trade opportunities in East Africa and the Region’. The meet was organized by the Kenya National Chamber of Commerce and Industry (KNCCI) in collaboration with the East Africa Chamber of Commerce and Industry (EACCIA), the Embassy of Kenya in the DRC, and the Federation of Congolese Enterprises.... Read more »

Posted on : Thursday , 26th January 2023

Ampersand will deploy 600,000 electric motorcycles in East Africa by 2030

Mobility startup Ampersand wishes to expedite the development of electric mobility in East Africa. To that purpose, the business has announced the deployment of 600,000 electric motorcycles over the next six months. The two-wheelers will first be utilised in Kigali, Rwanda, where the firm is situated, as well as Nairobi, Kenya, and Kampala, Uganda. Ampersand already boasts 35,000 battery replacements each month and a fleet of around 620.... Read more »

Posted on : Thursday , 26th January 2023

Kenyan government plans to build highway car charging stations

The Kenyan government will build electric vehicle charging infrastructure in all urban areas and along the highways from the next financial year as it hopes to supplement the private sector’s bid to accelerate e-mobility. Njuguna Ndung'u, Treasury Cabinet Secretary, said the government would boost national connectivity through road, rail, port, energy, and fiber-optic infrastructure to provide an enabling environment for economic recovery.... Read more »

Posted on : Thursday , 26th January 2023

Netherlands and Tanzania to Increase Potato Production

Mbeya — Mbeya Area Official Mr Juma Homera has said that the public authority will keep on working with the Dutch government to work with the expansion in potato creation in the country. The RC offered the comments here at the end of the week while gracing the gathering that separated from examining the present status of the potato area and setting techniques to build the development of the harvest likewise sent off potato development.... Read more »

Posted on : Monday , 16th January 2023

Rwandan Coffee Exports To The UAE Are Expected To Increase.

Rwanda's espresso commodities to the Unified Bedouin Emirates are supposed to develop as the nation accomplices with Dubuy, a B2B online business stage by DP World, to carry great Rwandan espresso nearer to shoppers in the UAE and the Bay district. The possibilities of espresso sends out were repeated for the current week at the Espresso Measuring and Testing occasion in Dubai, coordinated to celebrate and advance Rwanda espresso, in the.... Read more »

Posted on : Monday , 16th January 2023

Kenya Poised To Be Petroleum Giant

New Energy CS Davis Chirchir has said Kenya is poised to be the region's next petroleum giant following heavy investments. Chirchir said construction of the Sh40 billion New Kipevu Oil Terminal (KOT 2) is a game changer for the country, especially the energy sector. He said the government is considering investments in storage and evacuation to match the capacity of the new facility. The CS, who was in Mombasa on a.... Read more »

Posted on : Thursday , 12th January 2023

World Largest Oil Firm Aramco Enters Kenya through Buyout

The Competition Authority of Kenya (CAK) gave Aramco Overseas Company, the investment arm of Saudi Aramco, the nod to acquire the Kenyan operations of VGP Holdings as part of the global deal worth $2.65 billion.The acquisition looks set to trigger shifts in Kenya’s fuel lubricants market that is currently dominated by multinational firms such as Vivo – seller of Shell products —, Total Energies and Rubis. Saudi Aramco is the largest.... Read more »

Posted on : Thursday , 12th January 2023