Market News Page No. 213| Africa Business News | Afrotrade

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Tanzania: Japanese Contractor Asked to Speed Up Tazara Flyover Construction

Works, Transport and Communications Minister, Prof Makame Mbarawa has directed the contractor constructing the Tazara Flyover to speed up in order to reduce the duration the project. Speaking at the construction site in Dar es Salaam yesterday, Prof Mbarawa, hailed the contractor, Sumitomo Mitsui, for the progress made putting emphasis on increasing speed for people to start benefiting from the project. "Ensure to employ much.... Read more »

Posted on : Thursday , 16th February 2017

Kenya: Fuel Prices Go Up; Petrol Hits Sh100 Per Litre in Nairobi

The energy regulator has signalled more pain at the pump as it announced that petrol is up by Sh4.26 a litre to Sh100.27 in Nairobi in its latest review. Diesel is also up Sh5.03 a litre to Sh89.26 while kerosene is up Sh3.75 to Sh67.19 a litre, the Energy Regulatory Authority (ERC) said Tuesday while citing a 20 per cent global increase in crude prices when the cargo was procured in December. "In comparison with last.... Read more »

Posted on : Wednesday , 15th February 2017

Rwanda: Ugandan Firm Acquires Kigali's Umubano Hotel for $20 Million

The new investor will renovate the facility to tap into growing country's tourism sector Rwanda's hospitality industry has received a major boost after Uganda's Madhvani Group acquired Umubano Hotel, ending a long-running delay that was hurting the credibility of this facility as well as tourism prospects. The 4- star facility , with 100 rooms, 14 suites, four conference rooms, a swimming pool, tennis court, and a mini-golf.... Read more »

Posted on : Wednesday , 15th February 2017

Rwanda: Airspace Agreement with Mali to Boost Trade Between Nations

Trade and tourism between Rwanda and Mali could flourish following a new bilateral Airspace Service Agreement signed yesterday in Kigali. Both countries agreed to open their airspace allowing their national carriers to operate without restrictions. According to the agreement, all air service operations will be conducted under the fifth freedom arrangement, which means an airline has the right to carry passengers from one.... Read more »

Posted on : Wednesday , 15th February 2017

Africa: U.S. Scientists Devise New Method to Measure Crop Yields Using Satellites

London — "Improving agricultural productivity is going to be one of the main ways to reduce hunger and improve livelihoods in poor parts of the world" U.S. researchers have come up with a new method of estimating crop yields from small farms in Africa using high-resolution images from the latest generation of satellites - a development which could help cut hunger in poor parts of the world. Improving.... Read more »

Posted on : Wednesday , 15th February 2017

Tanzania: Gemstones Worth $4 Million Sold at Arusha Auction

Tanzanite Gemstones valued at more than 9.3bn/- changed hands during the second Mineral Auction in Arusha Region over the weekend. The Director of Diamond and Gemstones Valuation Unit of Tanzania Mineral Sorting Company (TANSORT), Mr Richard Karugendo, said this year's auction beat last year event by over 2bn/- worth of sales because during the 2016 auction minerals worth 7bn/- were sold. A total of 68 mineral firms.... Read more »

Posted on : Wednesday , 15th February 2017

Tanzania: SAGCOT Claims It Doesn't Use Genetically Modified Organism Technology

The Southern Agricultural Growth Corridor of Tanzania (SAGCOT) does not use genetically modified organism (GMO) technology in its large scale farming initiatives in the country as it is not yet approved by the government. The SAGCOT Chief Executive Officer, Geoffrey Kirenga, said in Dar es Salaam over the weekend that the seeds used in their initiatives have been approved by the government and would never adopt a technology that has not.... Read more »

Posted on : Wednesday , 15th February 2017

Tanzania: Simiyu Region Earmarks 3000 Acres for Irrigation Farming

Simiyu — Simiyu Region has allocated at least 3,000 acres to pilot irrigation farming at Mwananyili area in Busega District, in efforts to turn the newly formed region into food production hub. The Regional Commissioner (RC), Mr Anthony Mtaka, revealed here yesterday that the irrigation project is scheduled to commence next year. He said the region aspires becoming the country's main food producer, adding that plans are already in.... Read more »

Posted on : Wednesday , 15th February 2017

Rwanda: Kigali Bans Business Offices in Residential Complexes

The office space business in the Rwandan capital Kigali is undergoing remarkable innovations as people dash to beat a March 2017 deadline to vacate offices from residential premises. The directive announced in early January gave businesses and Non-Government Organisations operating in residential premises a three months ultimatum to vacate. City of Kigali (CoK) authorities say the move is an implementation of the city master.... Read more »

Posted on : Wednesday , 15th February 2017

Ethiopia to Produce Record 7 Million Quintal of Sugar This Year; Exports to Follow

New Sugar factories construction and the upgrading activities carried out on existing ones are to come to fruition as the country halts sugar importation by end of this year. Ethiopian Sugar Corporation CEO Endawek Abtie said that the country is in the era of 'Sugar Revolution' since 2010/2011 with visions to meet domestic demands and export surplus product. Endawek unveiled that existing and new factories, which are entering.... Read more »

Posted on : Tuesday , 14th February 2017

Ethiopia: AfDB Loans Out U.S.$159 Million to Ethiopian Airlines for Expansion

Ethiopian Airlines has received a $159 million loan from the African Development Bank (AfDB), boosting its expansion plans. The credit line, backed by the African Trade Insurance Agency (ATI), will enable the airline to expand its fleet as it targets to have 140 aircraft within the next decade from the more than 80 planes in its hangar. The Ethiopian flag carrier, the fastest growing airline in sub-Saharan Africa, seeks to.... Read more »

Posted on : Tuesday , 14th February 2017

Ethiopia on Track for Economic Globalization with China's Cooperation

A large number of jobs have been created for African countries through China-Africa cooperation, which has promoted local economic growth, helped the maintenance of political and social stability in related countries, and reduced the emergence of refugees and immigrants and their disorderly flow. Planning is only a small part of the work, and what counts more is its implementation. Since the holding of FOCAC Johannesburg Summit in.... Read more »

Posted on : Tuesday , 14th February 2017

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