Market News Page No. 1| Africa Business News

Ethiopia Airlines to launch US $65m five-star hotel

Ethiopian Airline is set to launch US $65m Ethiopian Skylight Five Hotel this month. This is according to the Airline’s Head of Infrastructure Planning and Development, Abraham Tesfaye. The Head of Infrastructure Planning said that the million dollar hotel whose construction began in 2016, will be officially opened to the public on the 28th of January. The hotel is located five minutes from the Bole International Airport in Addis.... Read more »

Posted on : Friday , 18th January 2019

MAERSK launched the Musafir Express, a new feeder product connecting to Mogadishu, Somalia - East Africa

MAERSK, the most important instrumentality company within the world, has launched the Musafir specific, a brand new feeder product connecting to national capital, Somalia. The first sailing of the Musafir specific departed from Salalah on December twenty nine, 2018, before inward in national capital on January three, 2019. The bi-weekly service connects Somalia to the remainder of the globe, permitting the country to expand its.... Read more »

Posted on : Thursday , 17th January 2019

Regular shipping line for the transport of goods between the port of Zarzis and the Italian port of Marina di Carrara

The new maritime link could be a continuation of the expertise of normal services between the Italian ports of dock di Carrara and Cagliari, on the one hand, and therefore the ports of Susah, Zarzis and Safaqis, that carry over two hundred thousand tonnes of products. A regular shipping line for the transport of products between the port of Zarzis and therefore the Italian port of dock di Carrara are launched on 24th January this.... Read more »

Posted on : Thursday , 17th January 2019

All eyes on international routes as Tanzania is all set with its second Airbus

The Tanzanian national carrier's second airliner A220-300 plane has landed. The plane, christened Ngorongoro, touched down at the Julius Nyerere International field in Dar atomic number 99 Salaam to nice eclat and ceremony last week on Fri. Added to the opposite airliner that arrived on Dec twenty three, it brings to 6 the amount of craft Air Tanzania Company Ltd has. The plane, with a commodiousness of one hundred sixty passengers, is.... Read more »

Posted on : Monday , 14th January 2019

Launch of 'the modern and first DNA machine' in Zanzibar

CHIEF Government Chemist Laboratory Agency (CGCLA) has opened a brand new building and launched a polymer testing machine to facilitate effective service delivery in analysis, particularly in health. Some members of the general public, together with the health workers and judiciary officers, United Nations agency were at the event recommended CGCLA for having the trendy and 1st polymer machine in island. "We are watching for the.... Read more »

Posted on : Monday , 14th January 2019

East Africa construction industry outlook promising-report

The total number of projects in East Africa has risen by a substantial 96% between 2017 and 2018 with an equally substantial increase of 167% in the total US dollar value of projects, a new report has shown. The Africa Construction Trends (2018) by consultancy firm Deloitte, reveals that East Africa has a total of 139 projects at a combined value of US$87.1bn. The region accounts for 28.8% of projects on the continent and 18.5% in terms of US.... Read more »

Posted on : Monday , 14th January 2019

Obama fund grants Kenyan green energy Sh650 million to boost electrification

Former US President Barack Obama’s Power Africa initiative has showered Kenyan green energy projects with grants totalling Sh650 million in efforts to accelerate electrification. Mr Obama still launched Power Africa as a policy tool to unravel and activate investments in the continent’s energy space as a way of driving out energy scarcity. “with the help of US Trade and Development Agency, Power Africa has provided grants.... Read more »

Posted on : Monday , 14th January 2019

Government of Tanzania grants $8.7m for first geothermal project at Ngozi

Allocation of $8.7 million has been granted by The Tanzanian Government to start countries first Ngozi geothermal project in Mbeya region. The government has allocated 20 billion Tanzanian Shillings for geothermal development.The news was revealed by the board chairman of the Tanzania Geothermal Development Company- Beatus Segeja, during his visit to Lake Ngozi, Mbeya Region. In order to push geothermal development TGDC, the 100% government.... Read more »

Posted on : Saturday , 12th January 2019

806 acres of land set aside for construction of new industries in Tanzania

More than 806 acres of land has been set aside for construction of new industries by the government of Tanzania in the country's northern city Arusha. Construction is set to take place on the southern fringes of the 272 square-kilometer metropolitan area. As per the Arusha 2035 Master Plan prepared by consultants from Singapore, Oljoro, Olmoti and Terrat suburbs will accommodate the new industrial site. A survey was done marking 300.... Read more »

Posted on : Saturday , 12th January 2019

Swala Oil & Gas (Tanzania) plc received an initial investment of US$30 million from Energy Tanzania Limited (ETL)

Energy Tanzania Limited (ETL) is owned by Dr. Reginald Mengi, the well-known Tanzanian entrepreneur and philanthropist. It has been announced by Swala Oil & Gas (Tanzania) plc that they have entered into an ultimate agreement for an initial investment of US$30 from Energy Tanzania Limited. The funds will be utilised to develop the Company’s current projects. The investment, which is observed to close in two tranches,.... Read more »

Posted on : Wednesday , 9th January 2019

Ethiopia, Eritrean leaders reopened the Oumhajir-Humera border crossing for trade and transport

The Oumhajir-Humera border crossing was reopened by Ethiopia’s Prime Minister Abiy Ahmed and Eritrean President Isaias Afwerki as this border crossing connects the two countries for trade and transport. Eritrea’s Afwerki and Ethiopia’s Ahmed, escorted with senior officials of the two East African countries, on Monday and witnessed the official reopening of the border crossing. According to Eritrea’s Minister of.... Read more »

Posted on : Wednesday , 9th January 2019

Tanzania granted her Exports Free Market Access to Uganda

Free market access for its soya and sunflower exports which is a boost to these products originating from the landlocked country has been granted by Tanzania to Uganda. The two countries, led by their respective trade ministries, was agreed that Ugandan traders be granted permits export the products to Tanzania. The Mutukula OSBP meeting organised by Ugandan Trade Minister Amelia Kyambadde and her Tanzanian counterpart Joseph Kakunda.... Read more »

Posted on : Tuesday , 8th January 2019