Kenya overtakes SA as biggest investor in African countries

 Nairobi - Kenya has overtaken South Africa as the biggest investor in African countries.   It invested in 36 projects in other parts of the continent last year, compared to South Africa’s 33.   According to a report by Ernst & Young, Kenya’s Foreign Direct Investment (FDI) also went up six positions - from 13th in 2014, to 7th last year reports. The report added that 78% of financial and business services originated from Kenya.   Real estate,.... Read more »

Posted on : Tuesday , 2nd August 2016

Kenya, France Sign Sh3.6bn Deal for Northern Kenya Power Grid

 Nairobi — Kenya and France Monday signed a deal of Sh3.63 billion for power grids in Northern Kenya counties, boosting the government's efforts to provide affordable power to all Kenyans.   President Uhuru Kenyatta and French Foreign Minister Jean-Marc Ayrault witnessed the signing of the Credit Facility Agreement at State House, Nairobi.   The deal will provide funds for a mini-grid retrofitting project that will be implemented by Kenya Power and will see.... Read more »

Posted on : Tuesday , 2nd August 2016

Kenya: Concerted Effort to Fight Cholera Shows Significant Success

 "Cholera cases within my community have dropped drastically," said Ibrahim Hussein, Chief of Bulla Power in Mandera County, Kenya. "This relief distribution will go a long way to ensuring that my community keeps its water safe for drinking," he added, while supporting the Kenya Red Cross Society in distributing non-food items to his community, which has been ravaged by a cholera outbreak.   Red Cross staff and volunteers have been responding to a.... Read more »

Posted on : Tuesday , 2nd August 2016

Tanzania: Fresh Cancer Therapy in State Graces

 Tanzania has welcomed new developments by research scientists who have created silicon nanoparticles to diagnose and cure cancer, saying it is closely monitoring the fresh therapy.   For the first time, Lomonosov Moscow State University researchers, jointly with German colleagues, have applied nanoparticles to detect and treat the non-communicable disease.   Health, Community Development, Gender, Elderly and Children Minister Ummy Mwalimu told the 'Daily News' over.... Read more »

Posted on : Tuesday , 2nd August 2016

Tanzania power line to be ready by 2018

 Tanzania plans to enter into power trade agreements with East African Community member states after completion of the 400 kilovolt backbone transmission line, set to be completed in the next two years.   Tanzania’s Minister for Minerals and Energy Sospeter Muhongo said last week that the initial phase $453.7 million power project extending for 670 kilometres from Iringa in the southern highlands of the country to Shinyanga on the shores of Lake Victoria, is expected.... Read more »

Posted on : Tuesday , 2nd August 2016

Kenya: Uhuru to Open Sh103 Billion Fertiliser Plant

 All is set for President Uhuru Kenyatta to preside over the commissioning of a multibillion-shilling fertiliser factory in Eldoret this week.   The President will open Toyota Tsusho fertiliser factory as he embarks on his tour of the North Rift.   The Sh103 billion fertiliser plant, the first of its kind in Africa, will manufacture 150,000 tonnes of subsidised fertiliser annually.   In a press release on Saturday, Toyota Tsusho Fertiliser Africa Ltd CEO.... Read more »

Posted on : Tuesday , 2nd August 2016

Tanzania: Mega 60 Trillion/ - Gas Plant Set for Lindi

 The Minister for Energy and Minerals, Professor Sospeter Muhongo, revealed yesterday that the government will invest at least 30 billion USD (over 60 trillion/-) for the construction of a gas processing plant in Lindi Region.   He said the government is already embarking on the grand plan and that Lindi residents and Tanzanians in general should expect economic revolution in few years to come. Prof Muhongo was speaking during the official launch of the Nanenane.... Read more »

Posted on : Tuesday , 2nd August 2016

Tanzania: Microfinance Sector Vital for Growth

 The micro-finance industry in Tanzania plays a big role in bringing equality to all citizens especially the financially underserved population in the rural areas. There is a large group of dependents, particularly low income earners, on the services offered by micro-finance institutions that have transformed their lives into much better. Yetu Micro-finance, Managing Director, Altemius Millinga, said in an interview in Dar es Salaam at the weekend that many microfinance.... Read more »

Posted on : Tuesday , 2nd August 2016

Kenya: Speaker Muturi Pledges Support for Potato Bill

 National Assembly Speaker Justin Muturi has promised to fast track a Bill which seeks to end exploitation of potato farmers by cartels.   The Potato Produce and Marketing Bill has been pending before Parliament for the last two years and farmers have raised concern.   It aims at establishing a National Potato Council to promote quality and quantity of production and to set standards to regulate the industry.   At least 24 counties stand to benefit if it.... Read more »

Posted on : Tuesday , 2nd August 2016

Lagos Begins First Crude Oil Export August

 All is now set for the first crude oil lifting for export from the Aje field, offshore Lagos, Nigeria, by the end of August following the commissioning of a production and storage vessel for the crude.   The news follows the declaration by governor Akinwunmi Ambode in May, that Lagos has officially joined the League of Oil Producing States in Nigeria following the discovery of crude oil by Yinka Folawiyo Petroleum Company Limited (YFP) in the state. Panoro Energy, the.... Read more »

Posted on : Tuesday , 2nd August 2016

Kenya: Sh4 Billion Network Upgrade Planned As Power Lines Go Underground

Kenya Power is set to roll out a massive electricity grid modernisation plan in major towns to stabilise power supply as more customers are hooked to the main network.   An elaborate plan seen by the Nation will see the network within Nairobi and its outskirts taken underground.   The five year plan running until 2020, will cost Sh4 billion with Upper Hill and Westlands targeted as the city expands and overhead wires become hard to network.   The city, which is.... Read more »

Posted on : Tuesday , 2nd August 2016

Tanzania: Govt Receives USD 200 Million World Bank Loan for Rural Electrification

Arusha — The Tanzania government has received a financial package of USD 200 million from the World Bank (WB) loan to boost rural electric connectivity.   The World Bank board of executive directors approved the financing for the Tanzania Rural Electrification Expansion Programme from the International Development Association (IDA). The new financing is a big boost to the project that is expected to connect up to 2.5 million households in rural areas to the national.... Read more »

Posted on : Tuesday , 2nd August 2016