Market News Page No. 111| Africa Business News

Kenya To Focus On Sugar Sector For Its Future Economic Growth

Kenya’s main economic growth is its agriculture sector. It contributes to over a quarter of our Gross Domestic Product and employs more than 40 percent of the population. In rural areas, 70 percent of citizens' livelihoods are dependent on agriculture. The sugarcane industry contributes to around 15 percent of this. The income of over six million people is directly tied to this industry. President Uhuru Kenyatta has.... Read more »

Posted on : Wednesday , 22nd January 2020

AfDB Grant US $8.9m for Ruzizi IV Hydropower Project in Rwanda

Ruzizi IV Hydropower Project in Rwanda has gained US $8.9m approval from the African Development Bank (AfDB), taken from the European Union's Africa Investment Platform (EU-AIP) to help the implementation of the Project.At present, two power plants are already in operation: Ruzizi I which builds 29.8MW and Ruzizi II which produces 43.8 MW. Ruzizi III with an estimated 147MW output is under development with Bank support. When accomplished, Ruzizi.... Read more »

Posted on : Tuesday , 21st January 2020

Ethiopia - MIDROC To Construct Edible Oil Factory Worth 4bln Br

MIDROC Ethiopia is commenced to build a 4-billion birr worth edible-oil factory which is expected to produce 600,000 liters of cooking oil daily. A cornerstone for the factory was laid in Addis Ababa's Summit area, adjacent to the Pepsi Cola factory.The event was laid by Addis Ababa City Mayor Takele Uma, representative of Sheikh Mohammed Al-Amoudi, Chairman and Owner of the leading Ethiopian Investment group, Midroc Ethiopia, Abennet.... Read more »

Posted on : Thursday , 16th January 2020

Ghana, The First African Nation To Turn Plastic Waste Into Liquid Fuel

Ghana formally joined the Global Plastic Action Partnership, an initiative dedicated to eradicating plastic waste and pollution worldwide, thus becoming the first African nation to do so. Ghana produces 1.7 million tonnes of plastic waste annually, with only two per cent being recycled, according to the United Nations Development Programme. Francis Kantavooro has produced a locally gathered reactor that turns plastic waste into fuel.... Read more »

Posted on : Monday , 9th March 2020

Kenya to Build Power Plants to Boost Electricity Supply in Meru County

Kenya has disclosed plans to set up various power plants in Meru County as part of the county’s plan to boost business and provide electricity to all residents by 2040. This will support the county’s development for the next 20 years.Foreseeing the county’s Vision 2040 blueprint, the main goal in the energy sector is to improve access to clean and sustainable energy by investing in a good mix of energy sources such as wind and solar, as.... Read more »

Posted on : Wednesday , 15th January 2020

Going Big In Ethiopia A New Video Campaign Is Launched By Coca-Cola

Ethiopia is greatly admired not just for its beauty, diversity or economic progress but also the fervent spirit of its people. It is extremely encouraging to see the improved economic growth projections over the last couple of years which is testament to all of the hard work that has been done,” said Phillipine Mtikitiki General Manager for East & Central Africa. With the aim of showing the immense investment and tourist attractions.... Read more »

Posted on : Wednesday , 15th January 2020

The Chinese Group Sany Heavy Industries to Produce 600 MW of Wind Energy in Tanzania

Possibility to have the largest wind farm on the African continent is only when the project of the Chinese group Sany Heavy Industries comes to fruition. The group, which concentrates in the manufacture of construction machinery, is diversifying its activities, also producing wind turbines.For many years, the company has been developing its own projects. In Tanzania, it has acquired agreement with the government to build a wind farm capable of.... Read more »

Posted on : Tuesday , 14th January 2020

Launch Of Electronic Customs Processing Platform To Enhance Trade In Ethiopia

The Government of Ethiopia launches an electronic platform that will enhance efficiency in trade logistics landscape of the country by speeding the customs process for importers and exporters.It is said will reduce the 44 days hectic long paper work process for importers and exporters to 15 days. Gradually, it is also expected to cut the 15 days to three working days. The study to launch the electronic platform has been conducted for the.... Read more »

Posted on : Tuesday , 14th January 2020

Manufacturing Commodities Continue To Explore New Markets Opportunities Particularly In The East African Community

Manufacturing subactivity grew by 8.3 per cent in 2018 slightly higher compared with 8.2 per cent in the previous contributed largely by the expansion of the regional markets. The ongoing investment and improvement of infrastructures as well as the stability in power supply reduced production costs. The Bank of Tanzania (BoT) annual report 2018/19 manufacturing commodities continue to explore new markets opportunities particularly in.... Read more »

Posted on : Tuesday , 14th January 2020

Rwanda Launches 188MVA Shango Power Substation at Kigali

The substation is part of the NELSAP Regional Interconnection Project involving Kenya, Uganda, Rwanda, DRC and Burundi. The Rwandan component, at a prediction cost of €111.03 million ($124 million), involves the construction of 286 km of 220kV lines, three substations and the upgrade of two substations. The African Development Fund, part of the African Development Bank Group, contributed €38 million (about 34%) of the total.... Read more »

Posted on : Tuesday , 21st January 2020

Mega Rusumo Hydroelectric Power Project Reaches 59% in Tanzania

The construction of Rusumo Hydroelectric Power Station which creates 80MW reached 59 % in December from 32 % in June last year.This was disclosed by the outgoing chairman of Energy Ministers from Tanzania, Burundi and Rwanda, Tanzanian Minister for Energy, Dr Medard Kalemani, while speaking to the media on the 11th meeting of ministers.He said "After inspection, my fellow energy ministers and I were satisfied with the construction progress,".... Read more »

Posted on : Wednesday , 8th January 2020

Cooperation between Ethiopia and Chinese firms is leaping to boost Ethiopia's construction sector

The cooperation between the Ethiopian Ministry of Urban Development and Construction (MoUDC) and Chinese firms has increased to boost the construction sector of Ethiopia. Ethiopia has put forward a 10-year strategic plan to develop its construction sector, and Chinese construction firms will play a key role in fulfilling the plan said by Aysha Mohammed.She also said that Chinese firms are also keen to help Ethiopia in constructing.... Read more »

Posted on : Tuesday , 7th January 2020