Kenya Electricity Generating Company PLC (KenGen) has announced a 9 per cent profit increase in its half-yearly unaudited financial results for the period ended 31 December 2020.
The company's profit before tax grew from Ksh 6.2 billion ($55 million) to Ksh 6.8 billion ($64 million), states a company statement.
KenGen co. states that revenue from geothermal operations continued to show a growth trajectory, recording a growth of 14 per cent suppo.... Read more »
Posted on : Thursday , 13th May 2021
The principal research and innovation engineer at Tanzania Geothermal Development Company, Eng. Chagaka Kalimbia announced on LinkedIn the successful spudding-in of the 1st geothermal well in Tanzania.
The well Kiejo-Mbaka KMB-01 was spud-in on 22 March 2021 at around 11:09 am EAT stated Eng. Kalimbia, the project lead.
The planned works on the project currently consist of drilling 3 shallow wells each to a maximum measured depth of 300 mtrs. Th.... Read more »
Posted on : Friday , 26th March 2021
The Tanzania Geothermal Development Company (TGDC), a subsidiary of the state-owned Tanzania Electric Supply Company (Tanesco), plans to produce 200MWe of geothermal energy by 2025. According to TGDC’s managing director Kato Kabaka, the company is planning to enter into an agreement with a local company to carry out shallow well drilling tests for research purposes on our Kiejo-Mbaka project in Busokelo council, Rungwe district, Mbeya r.... Read more »
Posted on : Thursday , 25th March 2021
M3, Inc., a medical Web portal headquartered in Tokyo, has announced that its multi-stage corporate venture fund 1P1Y will invest in Africa Health Holdings Ltd, which runs medical facilities in Ghana, Nigeria, and Kenya.
M3 will use this investment to improve the effectiveness and complexity of Africa Health's infrastructure, as well as to support its expansion plans. M3 will support Africa Health by leveraging its physician platform and services related to resear.... Read more »
Posted on : Wednesday , 24th March 2021
Belayab Pharmaceuticals has signed a franchise agreement to open Haltons Pharmacies in Ethiopia with Ghanaian health tech startup mPharma.
Under the terms of the agreement, mPharma will use its technology platforms, expertise, and extensive experience working with hospitals and retail pharmacies across Africa to help Ethiopia achieve universal medical coverage for all of its patients.
mPharma and Belayab Pharmaceuticals are preparing to open two.... Read more »
Posted on : Wednesday , 24th March 2021
The mining industry should be leading the way in exploiting the earth's wealth in more environmentally friendly ways, given its major duty to both man and nature. It is, after all, one product, one step at a time.
In terms of global industrial growth, the mining industry is significant. Mining is important to human development because it provides mineral and other services to the world's diverse construction and manufacturing industries.
However.... Read more »
Posted on : Wednesday , 24th March 2021
Kenya's construction industry is currently booming. The Kenyan government has invested heavily in the construction sector in order to upgrade infrastructure such as road networks while also providing new residences for locals (who are supported by banks in obtaining loans to buy apartments/cars).
The real estate and construction industries, according to the Kenya National Bureau of Statistics, have been some of the main drivers of economic growth in Kenya for the .... Read more »
Posted on : Tuesday , 23rd March 2021
The port of Dar es Salaam has declared that the categories of cargo cleared would be extended to include fertilizer, industrial and domestic sugar, edible or cooking oil, wheat oil products, coal, liquefied petroleum gas, chemicals, and any liquid-related products.
Tanzania Shipping Agencies Corporation informed stakeholders that the organization would begin implementing its mandate of clearing additional goods on March 15.
“In light of the above, shippers .... Read more »
Posted on : Monday , 22nd March 2021
The government of Ethiopia led by President Sahlework Zewde on Thursday 4th March 2021 laid a foundation stone for the construction of Lemmi Industrial Complex project in Ensaro district of Lemi town in the central region of the East African country.
The facility will be built on a 270 hectares piece of land by a joint venture between East African Holding, a leading industrial group in Ethiopia that has endorsed a prominent role in the industrialization of the country, and Wes.... Read more »
Posted on : Wednesday , 17th March 2021
Norfund, a Norwegian government investment company joins the Brighter Life Kenya 1 Limited (BLK1) scheme with a US$ 15 million investment. Norfund hopes to provide 1.9 million Kenyans with access to electricity through solar home systems.
Brighter Life Kenya 1 Limited is expanding. The scheme launched in the year 2020 to facilitate the financing of solar home systems in local currency (shilling) in Kenya is registering a US$15 million investment by Norfund, a Norw.... Read more »
Posted on : Monday , 15th March 2021
The Oromia Industrial Parks Development Corporation of Ethiopia has signed an agreement worth around US$ 200 million to build a 250ha agricultural processing park in the western highlands province of Oromia.
The agreement was signed by the head of the Ethiopian Industrial Parks Development Corporation Mr Sisay Gemechu, and the head of the Walabu Construction Share Company Mr Dereje Ermias, a contractor based in Oromia.
The project is remarkable .... Read more »
Posted on : Monday , 15th March 2021
Rwanda has announced plans to increase its 2021-2022 budget by US$ 220.8 million from its initial US$ 3.2 billion, hitting US$ 3.4 billion. This comes even as the government battles disruptions from the global COVID-19 pandemic and seeks to revive the economy.
The budget, primarily funded by domestic revenues projected to increase from US$ 1.6 billion to US$ 1.7 billion, will majorly spread across the education sector, followed by the health sector; to begin infra.... Read more »
Posted on : Monday , 15th March 2021
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