N e w s

Tanzania Saw Addition of 200 New Dollar Millionaires Last Year

Dar es Salaam — Tanzania created 200 new dollar millionaires in 2016, a new report shows, sending out a picture that the government's cost cutting measures have had little impact on individuals' wealth creation endeavours.   Knight Frank's 2017 wealth report shows that the number of super rich Tanzanians jumped from 2,200 in 2015 to 2,400 in 2016.   This happened despite reports that the cost cutting measures - initiated by.... Read more »

Posted on : Saturday , 4th March 2017

India Eyes Rwanda to Expand Footprint in East Africa

The visit of Indian Vice President Hamid Ansari to Rwanda and Uganda is seen as a strategy by the Asian giant to cement its presence in East Africa through trade deals and partnerships in order to rival China and Turkey.   Mr Ansari, accompanied by government officials and businessmen, arrived in Rwanda on February 19 for a three-day visit, during which he signed three agreements that will enhance bilateral ties between the two countries.... Read more »

Posted on : Saturday , 4th March 2017

Ethiopia on Track to Overtake Kenya as Leading Economy in Region

Kenyan media outlets have it well covered recently that Ethiopia is about to overtake Kenya and become the leading economy in East Africa.   Building on decade-long double-digit growth catalyzed by enormous government spending on infrastructure, the size of the Ethiopian economy, in terms of Gross Domestic Product (GDP) measurements, will reach 69.2 billion USD according to projections the International Monetary Fund (IMF) made for 2016..... Read more »

Posted on : Saturday , 4th March 2017

Ethiopia: Upgrade of Agri-Technology Vital to Keep Growth Going - Ministry

The Ministry of Agriculture and National Resources underscored the need for improving agri-technology to meet the goal of 594 million quintals crop production by end of GTP II.   Speaking at annual Agriculture and Mechanization Day Wednesday, Minister Dr. Iyasu Abreha highlighted that the sector is playing the role of ensuring food security and catapulting the country's effort to industrialize its economy and join middle income.... Read more »

Posted on : Saturday , 4th March 2017

Kenya: Agri Insurance Uptake to Increase as Premiums Likely to Drop

Uptake of agriculture insurance in East Africa is expected to increase with the anticipated drop in premiums following the launch of a risk-sharing facility.   The risk-sharing facility by the Global Index Insurance Facility (GIIF) and African Reinsurance Corporation (Africa Re) is aimed at encouraging regional underwriters to create affordable insurance products.   GIIF is a multidonor trust fund managed by the World Bank with.... Read more »

Posted on : Saturday , 4th March 2017

Kenya: Country Hoping for Talks With President to End Doctors' Strike

Kenyans are hopeful President Uhuru Kenyatta's meeting on Thursday with the heads of the Catholic and Anglican churches and doctors' union leaders will put an end to the misery caused by the 88-day-old doctors' strike.   The Nation has exclusively learned that the crisis meeting, which will be held at an undisclosed location in Nairobi, will bring together the President, Catholic Archbishop John Cardinal Njue, his Anglican counterpart.... Read more »

Posted on : Friday , 3rd March 2017

Tanzania: Joy as HESLB Approves 2300 Student Loans

About 2,348 students from higher learning institutions in the country have every reason to smile after the Higher Education Students' Loans Board (HESLB) granted them with loans through an appealing window.   According to a statement from HESLB, 20,020 appeals were received online out of which 17,020 with all requisite documents were received from various higher learning institutions.   "A thorough verification process of all.... Read more »

Posted on : Friday , 3rd March 2017

Kenya: BORAQS to Issue Smart Cards for Genuine Architects, Quantity Surveyors

Kenyans will soo be able to tell genuine architects and quantity surveyors from fake ones by asking them to produce a smart card to be issued by their regulator, the Board of Registration of Architects and Quantity Surveyors (BORAQS).   Speaking at the launch of BORAQS' first strategic plan on Monday this week, Ms Aidah Munano, the Principal Secretary in the Department Housing and Urban Development, expressed concern that unregistered.... Read more »

Posted on : Friday , 3rd March 2017

East Africa: Officials From Kenya, Uganda Travel to China to Seek SGR Funding

Finance ministers from Kenya and Uganda are set to travel to China at the end of this month to negotiate financing for the construction of a cross-border railway.   In a move that would transform the East African infrastructure landscape, the delegation - which will include the transportation ministers of both countries - will present proposals to the China Export Import Bank, an institution that has largely financed similar big projects.... Read more »

Posted on : Friday , 3rd March 2017

Kenya: East Africa's Largest Industrial Solar System Installed At Salt Factory

Commercial, industrial and residential solar provider SolarAfrica has commissioned one of Kenya’s largest solar hybrid systems in Malindi, in East Africa.    The 991kWp system is a PV-diesel hybrid project developed for Kenyan salt producer Krystalline Salt. The system will generate 1.6GWh of clean electricity annually, saving Krystalline around 22% of its electricity costs.   The project was developed in collaboration.... Read more »

Posted on : Friday , 3rd March 2017

East Africa: Isuzu Buys 57.7 Percent Stake in General Motors East Africa

Japanese automaker Isuzu Motors Limited has bought out General Motors’ 57.7 per cent stake in General Motors East Africa (GMEA) for an undisclosed sum.   The transaction will see the motor dealer change its name to Isuzu East Africa in April to reflect the change of control.   Most of the dealer’s sales are bus, pick-ups and truck brands of the Japanese multinational whose status shifts from a vehicle supplier to an.... Read more »

Posted on : Friday , 3rd March 2017

East Africa: Utility Companies Urged to Give Incentives for Solar Use to Encourage Clean Energy

East African Community's utility companies should consider paying individuals a fee for the solar power they consume to encourage more investments in clean energy.   While the grid parity -- the threshold between the hydroelectricity and solar tariff -- has narrowed with the dramatic fall in the prices of solar panels on the global market, the region has not fully seized this opportunity.   The operationalisation of net metering.... Read more »

Posted on : Thursday , 2nd March 2017



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