AFFORDABLE HOUSING IN KENYA GETS A USD 250 MILLION BOOST

A USD 250 million loan to Kenya has been approved by the World Bank for a large scale affordable housing project. World Bank’s Kenya Country Director Mr. Felipe Jaramillo, said that the establishment and operationalisation of the Kenya Mortgage Refinance Corporation (KMRC), a largely private sector-owned and non-deposit taking financial institution supervised by the Central Bank of Kenya (CBK) will be supported by Kenya Affordable Housing Finance Project (KAHFP). The loan is.... Read more »

Posted on : Monday , 13th May 2019

Kenya to Construct 300 MW Solar Plant in Zambia

Kenya plans a deal to construct a 300MW solar plant in Zambia at a cost of US $500m focused at expanding the county’s generation capacity, re-balancing the reliability on hydropower and supporting the rural electrification programme. The Nairobi-based renewable energy company, Xago Africa that secured the contract will undertake the project in a joint venture with Zambian firm Blue Chip Resources. The consortium has contracted UK-based firm solar century East Africa as their.... Read more »

Posted on : Saturday , 11th May 2019

Canada To Support EAC Energy Sectors For Local Benefit

The East African Community (EAC) summons for extended support from Canada, one of the leading development partners to Africa. The community is specifically pressing for assistance in the infrastructure and trade sectors to help it gain its intergrated agenda. Mr. Liberat Mfumukeko, the secretary general said, "There is an urgent need to upscale the EAC-Canada relations as well as Canada's support". He made the call when he met the Canadian High Commissioner to Tanzania, Ms.... Read more »

Posted on : Saturday , 11th May 2019

Tanzania Partners With Japan Agency To Launch A 12-Year Plan To Boost Rice Production

Tanzania government in partnership with the World Bank, Japan International Co-operation Agency (JICA) and the Africa Development Bank (AfDB) has launched a 12-year plan that seeks to boost rice production. Dubbed as ‘The National Rice Development Strategy Programme’ the initiative is part of the Coalition for African Rice Development aimed at feeding East Africa and forestall a food crisis in the region. Mathew Mtingumwe, Permanent Secretary in the Ministry of.... Read more »

Posted on : Saturday , 11th May 2019

Toshiba ventures into Kenya Market

Toshiba Corporation has announced the establishment of its new branch office in Nairobi, Kenya, under Toshiba Africa, the company’s main subsidiary based in South Africa. The branch office will start operations from May. Toshiba established subsidiary Toshiba Africa in 2014, and has been aiming on its business expansion in the sub-Sahara region. The company has since provided a wide range of products and systems such as Energy, Building and Digital solutions. “Since.... Read more »

Posted on : Friday , 10th May 2019

Turkey - Ethiopia Joint Venture opens new cable plant to boost Production

Euro Cable Private Limited Company, a joint venture between Ethiopian and Turkish, opens a new factory which is set to triple its existing electric cable production capacity. The plant located in Gelan, Oromia Regional State, has a covered area of 10,500 meter square in a compound of 20,000 meter square. Euro Cable PLC, a joint Ethio-Turkish venture, was the first private enterprise to start manufacturing electrical cables in Ethiopia, the company said in its press.... Read more »

Posted on : Friday , 10th May 2019

Solar power plant in Kenya gets 52 million Pounds Funding from UK

Foreign Secretary Jeremy Hunt has welcomed funding totaling £52 million that has been raised for a solar power plant in Kenya. The project, run by British-headquartered power company Globeleq and funded by CDC, the UK’s development finance institution, is due to come online in 2020.   It will enable clean electricity to the Malindi region in South East Kenya, which currently struggles with regular power shortages and relies largely on costly thermal.... Read more »

Posted on : Thursday , 9th May 2019

Nigerian Breweries Achieves 57% Local Sourcing Of Raw Materials

The Nigerian Breweries (NB) Plc says it has achieved 57% of its 60 per cent 2020 target for local sourcing of raw material for production. According to Sade Morgan, Corporate Affairs Director, local sourcing was an integral part of the company’s long term sustainability agenda as it remains at the heart of the company’s operations. “We are also exploring the use of maize and rice as brewing adjuncts (sources of starch) in addition to what we have previously.... Read more »

Posted on : Thursday , 9th May 2019

World Bank to Fund Sh.50 Million in Vihiga for Street Lighting Project

 Locals and traders of Majengo market in Vihiga Sub County will soon experience enhanced security and working hours following World Bank’s move to entirely fund installation 15 high mast floodlights project in the Municipality at a cost of about Sh.52.5 million. The Vihiga County Governor, Dr. Wilber Ottichilo and his Deputy Governor (DG), Dr. Patrick  Saisi led a team of county officials and World Bank representatives were present during the official.... Read more »

Posted on : Thursday , 9th May 2019

The Africa market is segmented as product type and applications on the basis of lighting products

Constant progression on ‘Lighting Africa’ this  is  an initiative of (IFC & World Bank), which is further fuelling the growth of lighting products market in the region of East Africa. Driven by factors such as a growing subscriber base for smart phones and increasing consumers spending on television services is what  the growth of the LED and OLED display market in Africa is depending on. The OLED and LED display markets in East Africa are consuming less.... Read more »

Posted on : Thursday , 9th May 2019

The World Food Programme Partners with TABD

The World Food Programme (WFP) has partnered with state owned development financial institution, Tanzania Agricultural Development Bank (TABD) in implementing the Farm to Market Alliance (FTMA) project. The project seeks to boost the agriculture sector in the country with plans of explore ways to scale up the FTMA model and have more smallholders under the arrangement. According to a Daily News report, the platform has enabled TADB to provide loans of over Tshs750m (US$330 000) to.... Read more »

Posted on : Thursday , 9th May 2019

Kenya experiences 25 percent growth in its exports of duty-free goods to the US under Agoa act

Marking one of the biggest leaps in nine years, according to the latest figures by the Kenya National Bureau of Statistics (KNBS), exports of duty-free goods to the US under the African Growth and Opportunity Act (Agoa) grew by 25 percent.   The goods, especially textile products, grew from Sh33 billion in 2018 to Sh41.5 billion last year.   Capital investment increased to 96.3 billion in 2018 from Sh95.3 billion in 2017 while direct employment in the sub-sector grew by.... Read more »

Posted on : Monday , 6th May 2019