Market News Page No. 296| Africa Business News | Afrotrade

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Global firms upgrade Kenya�s 2016 growth

World’s leading banks, consultancies and think-tanks have revised up the country’s growth forecast this year for the first time in three months, citing infrastructure projects which are coming on board. A consensus growth outlook from the 12 global firms shows the country’s economy is likely to expand by six per cent this year, a slight 0.1 percentage point upgrade over the last three months. This mirrors.... Read more »

Posted on : Monday , 26th September 2016

Tanzanian mortgage market registers high growth rate

Tanzania's mortgage market registered a significant growth rate of 29 percent during the second quarter of 2016 compared with 4.2 percent in the first quarter, the country's Central Bank said Friday. The Bank of Tanzania (BoT) also said in its mortgage market update ending June 30, 2016, that more lenders were offering mortgage products in the East African nation. "The mortgage market in Tanzania has continued to.... Read more »

Posted on : Monday , 26th September 2016

Kenya seeks to expand key highway to boost trade, ease traffic

The Kenyan government said on Sunday that it plans to expand the Nairobi-Mombasa highway from the current single lane to six lane modern highway and bids are likely to be invited soon, an official said on Sunday. State House spokesman Manoah Esipisu told a news conference in Nairobi that already a U.S. investor has expressed its interest in the Nairobi-Mombasa Expressway which is expected to ease traffic jams in.... Read more »

Posted on : Monday , 26th September 2016

Turkey donates health equipment to Kiambu hospital

The Turkish government yesterday donated Sh3.5 million health equipment to Kiambu Level-4 Hospital. Turkish ambassador to Kenya Deniz Eke presented the paediatric medical equipment. He said Turkey is working with hospitals and health institution to improve their conditions. Eke said they also provide scholarships for Kenyans every year..... Read more »

Posted on : Monday , 26th September 2016

Rwanda to import power from Kenya, Ethiopia and host global energy summit

Efforts to increase power supply in Rwanda will see the country import 30 megawatts from Kenya, expected by end of 2016, and 400 megawatts from Ethiopia by 2018. The East African country is also looking to lure more investors during the forthcoming 3rd annual energy summit due to take place later this year in Kigali. According to Jean Bosco Mugiraneza, the chief Executive Officer, Rwanda Energy Group (REG), the 3rd.... Read more »

Posted on : Saturday , 24th September 2016

Why a South African manufacturer of pelleting machines is turning heads

Pelleting machines are used in the agricultural industry to process organic material into small, dry pellets for animal feed and fertiliser. Back then Eksteen noticed these machines could only be imported from Europe or the US, and were mostly geared towards large-scale pelleting production – which was unaffordable and impractical for the average smallholder farmer. So he started Agricon Pelleting, a company that manufactures.... Read more »

Posted on : Saturday , 24th September 2016

Building Partnerships to Improve Health

Health Cabinet Secretary, Dr. Cleopa Mailu held a meeting with ZipLine Logistics Company to explore possibilities of using drones to deliver medical products in the case of emergencies. During the meeting the CS cited the need for multi-agency involvement bringing on board the Ministries of Interior and Security, State Law Office, Transport, Health and KEMSA. He said an inter–sector meeting will be held in the next three.... Read more »

Posted on : Saturday , 24th September 2016

Tanzania: Change Afoot to Relax Rule for Fuel Bulk Procurement

The government is weighing a plan to relax the rule on petroleum bulk procurement system that requires tendering oil firms to buy and supply the product in a cargo-to-cargo base other than the winner-takes-all-process. Scheduled to start from September, the system will be open to all pre-qualified Oil Marketing Companies, according to Petroleum Bulk Procurement Agency (PBPA). "We have further simplified procurement of oil.... Read more »

Posted on : Saturday , 24th September 2016

Bushveld receives IEA for Mokopane vanadium project in South Africa

The South African Mineral Resources Department has granted an integrated environmental authorisation (IEA) to Bushveld Minerals’ Mokopane vanadium project in South Africa’s Limpopo Province. The project is located 65km west of Polokwane and 45km north-northwest of Mokopane. Bushveld received authorisation in accordance with terms of Section 24 L of the National Environmental Management Act (Act 107 of.... Read more »

Posted on : Saturday , 24th September 2016

Gulp! These Scientists Are Turning CO2 Into Fish Food

It’s not often that you hear about the virtues of carbon dioxide. CO2 is a gas whose surfeit has turned it into one of the main contributors to global warming. But this October, on the windswept west coast of Norway, one refinery will use some of that CO2 to feed fish. How does a greenhouse gas turn into something that fish can eat? Through algae. Scientists at the Technology Centre Mongstad—the world’s.... Read more »

Posted on : Saturday , 24th September 2016

KenGen bets on modular power plant technology

Kenya Electricity Generating Company (KenGen) has announced commencement of bids for the construction of modular geothermal power plants at Olkaria. According to KenGen, the construction of the plant will reduce over reliance on hydroelectric power generation. The new system will also cut the costs of generation. Modular power plant will generate power using a well head generator that will tap steam from the geothermal wells..... Read more »

Posted on : Saturday , 24th September 2016

Solar can power African homes for $56 per year, says IRENA

Falling solar costs in Africa can drive solar boom on the continent as prices fall to $1.30 per watt for large-scale PV, and $1.90 per watt for mini-grids, finds new IRENA report. The International Renewable Energy Agency (IRENA) has today published a report outlining how tumbling solar costs are making PV one of the cheapest means for powering many parts of Africa. The report, titled Solar PV in Africa: Costs and.... Read more »

Posted on : Saturday , 24th September 2016

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