Market News Page No. 127| Africa Business News | Afrotrade

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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.... 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,.... 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.... 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.... 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.... 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.... 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.... 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.... 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.... 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.... Read more »

Posted on : Monday , 6th May 2019

Over 200 health facilities in Tanzania benefits as they are equipped with high tech anaesthesia machines through a $3million project

According to Chief Executive Officer of Gradian Health Systems, Mr Stephen Rudy, "the high tech medical equipment, known as Universal Anesthesia Machine (UAM), can generate medical oxygen and work without power." “The equipment can save valuable time, money and lives during surgery,’’ said Mr Rudy. A $3million project that was launched on World Health Day, by the government in cooperation with a US-based.... Read more »

Posted on : Monday , 6th May 2019

Better returns for Africa as it is contributing to improved use of renewable energy power across the continent

Developing economies everywhere Africa measure during a distinctive position to leapfrog a lot of developed nations by finance in cleaner, environmentally friendlier sources of power at a lower price - main factors conducive to improved use of renewable energy power across the continent. However, renewable energy resources hold nice promise and might give energy whereas overcoming Africa’s infrastructural challenges, this manner.... Read more »

Posted on : Friday , 3rd May 2019

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