Market News Page No. 118| Africa Business News

Economic 'game changer'? African leaders launch free-trade zone

NIAMEY (Reuters) - African leaders launched a continental free-trade zone on Sunday that if successful would unite 1.3 billion people, create a $3.4 trillion economic bloc and usher in a new era of development. After four years of talks, an agreement to form a 55-nation trade bloc was reached in March, paving the way for Sunday’s African Union summit in Niger where Ghana was announced as the host of the trade zone’s future.... Read more »

Posted on : Friday , 13th September 2019

African Experts Praised China For Its Continous Support To Africa In The Public Health Sector

African experts and policymakers have praised China's continous support to African institutions in the public health sector, with particular praise to its contribution towards the institutional and technical development of the much-needed African Centers for Disease Control and Prevention (Africa CDC). The blossoming China-Africa public health cooperation marked a remarkable milestone when African and Chinese officials revealed the.... Read more »

Posted on : Friday , 13th September 2019

Zimbabwe And Tanzania Are Working Towards Cementing Their Relations

Zimbabwe and Tanzania took a giant step towards upgrading their relations with top officials between the two countries composing various economic agreements at the 8th session of the Joint Permanent Commission on Cooperation (JPCC) which opened in July 2019. A three day JPCC was started with recommendations being tabled in preparation for the ministerial meeting condemned for focusing on areas where Zimbabwe and Tanzania can further.... Read more »

Posted on : Thursday , 12th September 2019

Ethiopia to construct 5 stadia in Addis Ababa

Ethiopia plans to construct 5 stadia in Addis Ababa to add on the two existing ones – Yidnekachew Tessema and Abebe Bikila stadia. Out of the five, four are zonal stadia and will be constructed in the districts of Yeka, Nifas Silk Lafto, Bole and Gullele. The zonal stadia will cover an area of 40,000sqm, 70,000sqm and 110,000sqm respectively and each of the have a carrying capacity of 30,000, whereas the plot for Gullele is not yet.... Read more »

Posted on : Wednesday , 11th September 2019

Toyota Kenya Partnered With Total Kenya to Promote - Kali Sector

Toyota Kenya Limited and Total Kenya have publicized that a three-month skill-based competition targeting the Jua-Kali mechanics. The competition dubbed, Total Quartz Golden Spanner Competition scheduled to run from mid-August to November 2019, will see mechanics from across the country battle it out for the grand prize of a brand-new Toyota Hilux single cab pickup valued at Sh3 million. The first and second runners up will obtain Sh.500, 000.... Read more »

Posted on : Monday , 9th September 2019

Kenya Power Signs Sh379m Cars Agreement

Kenya Power, the electricity distribution monopoly, has inked a deal with four auto dealers to supply a fleet of vehicles at Sh379 million. The partly State-owned firm, which is eyeing an improvement of its financial position revealed the amount in a tender notice. Kenya Power acting Chief Executive Jared Othieno did not respond to queries on whether the vehicles deal was a purchase or a leasing plan. It was also not.... Read more »

Posted on : Monday , 9th September 2019

Prime Minister Shinzo Abe Renewed Japan's Pledge To Boost Investment In Africa

Abe pledges to boost investment in Africa from the country's private sector to more than $20 billion over the next three years, in the hope of facilitating the giant continent's development. Abe's pledge meant that the government would encourage greater investment from the private sector with the aim of surpassing the previous three-year total, although he did come up with a specific numerical target. Abe told African leaders.... Read more »

Posted on : Friday , 6th September 2019

USD 98 million received for Ethiopia-Djibouti corridor road project

Ethiopia is going to receive USD 98 million funds from African Development Bank (AfDB) for the construction of the Ethiopia-Djibouti corridor road project. The total cost of the project is expected to be USD 255 million. Djibouti government is expected to fund around USD 5.3 million via AfDB grant while the remaining fund of USD 151 million is expected to be covered by Ethiopia government in co-financing contribution. The project will start.... Read more »

Posted on : Friday , 6th September 2019

USD 300 million Industrial park to be constructed in Ethiopia

Ethiopia is going to partner with China for the construction of USD 300 million industrial park in Addis Ababa, Ethiopia. Economic and commercial counselor at the Chinese embassy in Ethiopia, Liu Yu announced the report and said that the industrial park is going to focus on engaging equipment manufacturing companies. He also states that land acquisition and financial work has already been in progress. The industrial park is going to construct.... Read more »

Posted on : Thursday , 5th September 2019

GE Completes Gas Turbine Upgradation at Tanzania's Songas Ubungo Power Plant

Songas Ubungo Power Plant supplies more than 20 percent of the grid connected power in Tanzania; upgrade of three GE’s LM6000PA and one LM6000PC Aero derivative gas turbines Improved Plant Efficiency and Reliability. GE and Songas today disclosed they have successfully completed upgrades to the whole GE fleet of three LM6000PA and one LM6000PC gas turbines at the Songas Ubungo Power Plant in Dar es Salaam, Tanzania. These technology.... Read more »

Posted on : Tuesday , 1st October 2019

Ramaphosa's Visit To Tanzania Aims At Deepening Of Existing Economic, Political, Cultural And Social Relations Between The Two Countries

President Cyril Ramaphosa gave a two-day state visit to Tanzania on 14 and15 August 2019, at the invitation of President John Pombe Magufuli. This was his first state visit since being elected President in May. As part of his visit, Ramaphosa also lead the South African delegation to the 39th Southern African Development Community (SADC) Ordinary Summit of Heads of State and Government, held on 17-18 August. According to.... Read more »

Posted on : Wednesday , 4th September 2019

Mr. Green Africa, A Kenya-Based Plastics Recycler Receives Funding From DOB Equity, Global Innovation Fund And Unilever

Mr. Green Africa engages more than 2,000 previously marginalized waste collectors and sells more than 2,000 metric tons of “fairly sourced” recycled materials for local and international markets, DOB Equity says in a news release announcing the investment. DOB Equity, a Dutch investor in East Africa, and London-based Global Innovation Fund (GIF), in partnership with the consumer brands company Unilever, have invested in Mr..... Read more »

Posted on : Wednesday , 4th September 2019