Market News Page No. 244| Africa Business News | Afrotrade

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Ethiopia: Multi Million Dollar Gibe III Hydropower Plant Begins Operations

Addis Ababa — Ethiopia inaugurated the $1.57 billion Gibe III hydro plant on River Omo on Saturday. The plant which is located 450km southwest of the capital Addis Ababa will increase Ethiopia's total electricity output to 4,238MW with 10 turbines installed, each with a capacity of 187MW. The plant is expected to supply both domestic and export markets. Gibe III is the third plant on the Gibe-Omo hydroelectric.... Read more »

Posted on : Tuesday , 20th December 2016

China Completes Ethiopia Hydropower Rehabilitation Project

Addis Ababa — China on Thursday handed over a hydropower plant rehabilitation project to Ethiopia. With an installed generating capacity of 6.6MW, the Aba-Samuel Hydropower Plant Rehabilitation Project was carried out in two years by PowerChina Huadong Engineering Corporation, for which the Chinese government provided a grant amounting to 95 million yuan (around 14 million U.S. dollars). Signing the document during the.... Read more »

Posted on : Tuesday , 20th December 2016

Ethiopia: Turkey Completes Ottoman-Era Building Restoration

The consulate building was built during the Ottoman era in 1912 in Harar city. The Turkish Cooperation and Coordination Agency (TIKA) announced Tuesday that it has successfully completed the restoration of a 100-year-old Ottoman-era building in Harar. Built during the Ottoman era in 1912 in Harar, it had been on the verge of collapse after years of neglect before TIKA began a restoration project two years ago. Project.... Read more »

Posted on : Tuesday , 20th December 2016

Ethiopia: USD 235 Million Sugar Factory Nears Operation

The 235 million USD sugar factory would also generate 45 MW power. The Omo Kuraz I sugar factory is conducting final test-run to enter sugar production phase. The construction of the factory was launched three years ago at a cost of 235 million USD. It is one of the four sugar factories planned to be built in South Omo Zone of SNNP State. The factory is being constructed by the Metals and Engineering Corporation.... Read more »

Posted on : Monday , 19th December 2016

Tanzania: Indian Businesses Urged to Invest In Agriculture

Dar es Salaam — Indian business executives have been urged to invest in Tanzania's agriculture. This was said by Indian High Commissioner Sandeep Arya here yesterday. He was speaking during an event to promote India's food. Clove and cashew production have been cited as areas of investment. According to him, Tanzania has a comparative advantage in clove and cashew farming. "It's high time.... Read more »

Posted on : Monday , 19th December 2016

Africa: Housing, Green Energy Markets Driving Growth in Wood Production

Global production of all major wood products grew for the sixth consecutive year in 2015, while trade in wood products decreased slightly, according to new data published by FAO today. The increase was mainly boosted by the continuous economic growth in Asia, a recovering housing market in North America and scaling up of the bioenergy targets. In 2015, growth in the production volume of wood products ranged from between one to eight.... Read more »

Posted on : Monday , 19th December 2016

RRV launched in SA

A new 20 t Crane road-rail vehicle (RRV) was launched onto the South African market last month by Olifantsfontein-based rail systems manufacturer RailPro and is intended to meet the domestic requirements of rail infrastructure construction and general rail-related maintenance. To date, RailPro has received three orders for Crane RRVs, with one being built and delivered and two currently under construction. ADVERTISEMENT An RRV.... Read more »

Posted on : Monday , 19th December 2016

Sugar exports to be supported by Zambian Revenue Authority

The Zambia Revenue Authority (ZRA) has assured Zambia Sugar Plc that it will support the company’s efforts to increase exports of sugar provided it has all the necessary documentation. ZRA Commissioner General Kingsley Chanda said the authority is aware of the challenges Zambia Sugar Plc is currently facing, which among them, is increased smuggling of sugar into the country, which is affecting the company’s.... Read more »

Posted on : Monday , 19th December 2016

Metered taxi gets funding approved for owner/ driver scheme

SA Taxi has secured R300-million in funding from Futuregrowth Asset Management, which it will use to provide financing for the company’s Zebra Cabs owner-driver scheme. SA Taxi is South Africa’s largest financier of minibus taxis. It acquired Zebra Cabs’ metered taxis in 2015, motivated by the need to expand its business activities into adjacent markets. The aim of SA Taxi’s newest venture is to revive the.... Read more »

Posted on : Friday , 16th December 2016

HACCP certification received by Capwell industries

KENYA - Capwell Industries Ltd, one of the most diversified food processing enterprises in Kenya, has achieved a major milestone in the region by achieving the highly respected HACCP food safety systems certification. The company, the leading processor of rice, maize flour, porridges, pulses and packer and distributor of wheat flour products and spaghetti has become one of the few milling companies in Kenya and the.... Read more »

Posted on : Friday , 16th December 2016

Naacam director to increase the participation of companies in the country�s automotive sector

The biggest goal of newly appointed National Association of Automotive Component and Allied Manufacturers (Naacam) executive director Renai Moothilal is to increase the participation of black South Africans in the country’s automotive sector. He says there are “opportunities to drive transformation mainly within the tier two space. It is possible to bring in a cache of black industrialists, reshaping.... Read more »

Posted on : Thursday , 15th December 2016

Floating Cage Method to be used for Fish Farming

Fisheries is considered a resilient earner of foreign exchange to the country, if and when methods such as cage fish farming are harnessed by fish farmers. For a period of about 10 years, the sector had the second highest export earnings after coffee. But there is declining trend in species such as Tilapia and Nile Perch that are mostly the staple of capture fisheries due to overfishing in the freshwater bodies. Lake Victoria is a case.... Read more »

Posted on : Thursday , 15th December 2016

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