The move is probably going to help the Sh190 billion project get extra money.
The Sh190 billion Nairobi-Mau Summit Highway has received a financing commitment from the International Finance Corporation (IFC), a division of the World Bank, in the amount of Sh40 billion (USD 320 million).
The international financier is anticipated to approve the release of the money in the fiscal year 2023–2024 after publishing the project's environment.... Read more »
Posted on : Tuesday , 27th December 2022
Identifying an existing opportunity, seizing it, and promoting its growth are sometimes the best strategies to take. The London-listed Marula Mining is utilizing this strategy as it expands its presence across the continent, particularly in East Africa.
This tactic is already benefiting rewards. CEO JASON BREWER provides more information to GERARD PETER.
Marula concentrates on the African battery metals market. Its goal is to create a dynamic, g.... Read more »
Posted on : Monday , 26th December 2022
Equator Mobility, formerly META Electric, is expanding its activities in Kenya with the goal of quickening the shift to electric mobility. It began operations last year with the introduction of a B2B leasing programme with the possibility of direct sales for commercial electric cars, seed-funded by Maris Ltd, an Africa-focused investment firm. Lease terms range from 6 to 12 months.
The goal has always been to bridge the gap between business transportation and elec.... Read more »
Posted on : Monday , 26th December 2022
Oman Oil Marketing Company (OOMCO) has opened 23 service stations in Saudi Arabia and Tanzania. These positions are part of the company's regional expansion strategy for its one-stop-shop network.
The new Saudi forecourts include three filling stations in Jeddah, Al Dhahran, and Al Safwah, bringing the company's total footprint in the Kingdom to 12 points of sale. Meanwhile, the Oman-based company has opened its 11th service station in Tanzania, its first in the c.... Read more »
Posted on : Monday , 26th December 2022
Ghana will continue to build up its economic corporation with Kenya by harnessing the potential of intra-Af¬rican trade, the Deputy Minister for Tourism, Arts and Culture, Mr Mark Okraku Mantey has said.
“The African Continental Free Trade Area AfCFTA headquartered in Accra, provides yet another incen¬tive to build up economic corpo¬ration, explore trade and investments opportunities, and contribute to Africa’s accelerated socio-economic grow.... Read more »
Posted on : Friday , 23rd December 2022
UK Export Finance has provided £900,000 of support to Atlancis, a Kenyan cloud services company, enabling it to build a new relationship with UK exporter Vespertec to open growth opportunities in Africa.
A Standard Buyer Loan Guarantee was offered by UK Export Finance to guarantee an export credit loan from Apple Bank, supported by its UK servicer and arranger of the deal AF Capital. Both AF Capital and Apple Bank specialise in export credit debt.
<.... Read more »
Posted on : Friday , 23rd December 2022
NEXGEN Packaging, a US-based packaging company has started building its African headquarters in Nairobi, Kenya.
The investment, which is situated in the Export Processing Zone on the Athi River, will support the business' operations in Ethiopia, Egypt and West Africa.
Kenya will serve as the company's main industrial hub in Africa.
Manuel Torres, managing director of NEXGEN's Europe, Middle East and Africa (EMEA) operations stated: "We are beyond thrill.... Read more »
Posted on : Tuesday , 20th December 2022
The destiny of a proposed streamlined commerce settlement among Kenya and the US is supposed to highlight noticeably when President William Ruto meets his American partner Joe Biden as an afterthought lines of the US-Africa Pioneers Culmination in Washington.
President Ruto was because of fly out subsequent to driving the country for Jamhuri Day festivities at the Nyayo Public Arena in Nairobi.
"I anticipate working with African legislatures, co.... Read more »
Posted on : Tuesday , 20th December 2022
Expansion of credit to farming was all the while souring in October this year following estimates put on by the public authority since last year to support funding into the area.
As per the Month to month Financial Audit delivered by the Bank of Tanzania during the week, yearly credit development to horticulture for the year finishing October 2022 remained at 57.7% contrasted with 46.7% in the previous month and negative 14% same period last year.
.... Read more »
Posted on : Tuesday , 20th December 2022
Tanzania and Zambia have agreed to build up security along their common oil pipeline as they finalise plans for the facility to start transporting refined petroleum products.
The Tanzania Zambia Mafuta (Tazama) pipeline transported crude petroleum products from Dar es Salaam to Zambia, where they were processed at the Indeni Refinery in Ndola, Zambia.
However, as part of President Hakainde Hichilema’s reform plan, the government ceased im.... Read more »
Posted on : Thursday , 15th December 2022
HomeBiogas wins order for biodigesters in Rwanda. The Beit Yanai, Israel-based company signed a deed of commitment with the United Nations (UN), which initiated the project, on the side-lines of the recently concluded 27th UN Conference of the Parties on Climate Change (COP27) in Sharm el-Sheikh, Egypt.
As part of its contract, HomeBiogas will provide its solutions to farmers. The devices will be used to produce biogas from organic waste. The biogas will be used f.... Read more »
Posted on : Thursday , 15th December 2022
Ethiopia has started exporting electricity to neighbouring Kenya following a week of testing of a new transmission line, Ethiopian Electric Power said.
The $500 million line has capacity to transmit 2,000 MW of electricity, potentially earning Ethiopia as much as $100 million annually.
“Ethiopia has completed activities to ensure uninterrupted and reliable transmission of power and it is expected that similar activities will be implemented.... Read more »
Posted on : Tuesday , 13th December 2022
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