Market News Page No. 241| Africa Business News | Afrotrade

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Rwanda: Germany Injects �32.5 Million into Energy Sector

Efforts to boost power generation are set to receive timely support thanks to Germany's commitment to invest €32.5million, about Rwf30 billion into the sector. The funding, according to Ronald Nkusi, the director of external finances at Ministry of Finance and Economic Planning, will help in the refurbishment and privatisation of the hydropower stations Rusizi I und Rusizi II at the border between Rwanda, Burundi and the DR.... Read more »

Posted on : Friday , 23rd December 2016

Rwanda: EU Releases �10 Million for Rural Roads Refurbishment

European Union Commission has transferred the final €10 million disbursement of the €40 million grant for construction of 200 kilometer feeder roads in rural areas to support agriculture activities. The funding agreement for the total grant was signed back in 2013 for the refurbishment of 700 kilometers of road network. According to officials, most of the roads were rehabilitated, leaving only 200 kilometers to be.... Read more »

Posted on : Friday , 23rd December 2016

Ranger beats Hilux to win pick-up of the year award

The Ford Ranger was crowned the 2016 Pick-up of the Year by the Nigeria Auto Journalists Association (NAJA), reinforcing its status as a segment-defining model in the highly competitive light commercial vehicle sector. The Ranger beat the Toyota Hilux and Mitsubishi L200 pickup for the coveted award. The award, which was accepted by the marketing team of Coscharis Motors, the sole authorised Ford dealer in Nigeria,at the prestigious NAJA.... Read more »

Posted on : Friday , 23rd December 2016

Renault Kwid to be Exported From India to South Africa

French auto major Renault will start exporting its small car Kwid to South Africa, Bhutan and Bangladesh from India next year as it prepares to take the popular hatchback to various global markets. The company, which launched the car in India with 98 per cent localisation in 2015, has already started exporting the hatchback to Sri Lanka, Nepal and Mauritius. "We started exports of Kwid with Sri Lanka, followed by Nepal and now we are.... Read more »

Posted on : Friday , 23rd December 2016

Volkswagen Rolls Into Kenya, Rwanda As Part of Africa Expansion

NAIROBI: Volkswagen on Wednesday opened a new assembly plant in Kenya and launched plans for a ride-sharing service in Rwanda as it seeks to take advantage of surging car demand in Africa. The German car manufacturer's move into East Africa comes just weeks after it signed a deal to build an assembly plant in Algeria. "Overall car sales in Africa are bound to rise by 40 percent within the next five years, that is why we are.... Read more »

Posted on : Thursday , 22nd December 2016

Tanzania: Chinese Firm Wins Power Plant EPC Contract

Aim-listed Kibo Mining has awarded the Engineering, Procurement and Construction (EPC) contract for the construction of the power plant element of the Mbeya coal-to-power project (MCPP) to Chinese contractor, SEPCO III. Located in Tanzania, the MCPP includes a 250 - 350 MW mine mouth power plant. "Signing the EPC Cover Agreement is the most decisive step forward to date in the development of the MCPP," said Kibo's CEO, Louis.... Read more »

Posted on : Thursday , 22nd December 2016

Ethiopia: Investment in Dairy Farms to Boost Foreign Currency

Ethiopia is encouraging investment in meat and meat product export as part of effort to increase hard currency earning. Last week, a two-day tour to major abattoir investment at Dukem, Modjo, Zeway and Adami Tulu of Oromia State has taken place organized for media partners by Ethiopian Meat and Dairy Industry Development Institute that flickers a gleaming hope that the nation is on the right track to utilize its livestock potential. As.... Read more »

Posted on : Thursday , 22nd December 2016

Exploration Activities in East Africa to Rise in 2017 as Global Prices Recover

Oil and gas exploration activities in East Africa are expected to rise in 2017 as global confidence in the sector increases with improving prices. London-based Wood Mackenzie (Woodmac) energy, metals and mining consultancy firm, expects a resurgence of activities in the region, as explorers create more value by drilling wells when crude oil prices on the international market begin to rise. Crude prices had risen to $53.24 per.... Read more »

Posted on : Thursday , 22nd December 2016

East Africa: As Global Prices Recover, Oil & Gas Explorations Set to Increase in 2017

Oil and gas exploration activities in East Africa are expected to rise in 2017 as global confidence in the sector increases with improving prices. London-based Wood Mackenzie (Woodmac) energy, metals and mining consultancy firm, expects a resurgence of activities in the region, as explorers create more value by drilling wells when crude oil prices on the international market begin to rise. Crude prices had risen to $53.24 per.... Read more »

Posted on : Thursday , 22nd December 2016

East Africa Leads the Way in Post-Harvest Loss Reduction

East Africa Region is expected to hold Postharvest Technology congress next year to address and reduce the level of loss that account for more than 30 per cent of the food produced for human consumption. The Inter Region Economic Network (IREN), Chief Executive Officer Mr James Shikwati said the first ever 'East Africa Postharvest Technology' congress and challenge will be held in Nairobi, Kenya toward the end of next year's quarter.... Read more »

Posted on : Thursday , 22nd December 2016

Horticulture Projects Have Potential

Maun — North West councillors have been implored to encourage farmers to conduct horticultural projects in a commercial way. They were informed that although the district had a reasonable substantial amount of surface water, it continued to be one of those not doing enough in horticulture. Council chairperson, Mr Reaboka Mbulawa told councillors that the district had a total of 48 operational projects out of 60 allocated. He said.... Read more »

Posted on : Thursday , 22nd December 2016

Tanzania: Promising Power Transmission Projects in the Pipeline

Dodoma — The Tanzania Electric Supply Company (Tanesco) is mulling over a number of power transmission projects, which would enable the country to have a power transmission ring. The National Power Backbone project coordinator, Mr Khalid James, said here yesterday that the scheme would involve connecting the southern regions of Lindi and Mtwara in the national power grid. Mr James elaborated that the transmission network.... Read more »

Posted on : Thursday , 22nd December 2016

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