Market News Page No. 408| Africa Business News | Afrotrade

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Malawi: Sugar Factory Ready End of October - India for Stronger Partnership

The sugar factory completion date--projected to be end this month when President Peter Mutharika is also expected to attend the third edition of India-Africa Forum Summit (IAFS) from October 26 to 29--should stand as a microcosm of what Africa and, Malawi in particular, can benefit from a resurgent India through stronger economic and political cooperation. "Malawi and India have been strong partners for decades in terms of trade,.... Read more »

Posted on : Wednesday , 21st October 2015

Zimbabwe: Firm Unveils U.S.$24 000 Loan Facility for Small Scale Farmers

A local agro chemical company, Shalom Agro Chemicals, has unveiled a $24 000 loan facility to benefit farmers in Nyanga. The inputs scheme was unveiled to farmers under a contract farming arrangement for Nyanga small- scale farmers. Farmers in the area hailed Shalom Agro Chemicals saying the money would assist them to buy inputs. "The worst enemy of the farmer is inputs costs and these include seed and fertilisers which are the.... Read more »

Posted on : Wednesday , 21st October 2015

Kenya: Former Tobacco Farmers in Migori Pin Hopes On Soya Bean Growing

Farmers in Migori, who had been left desperate following the exit of a company that had for years contracted them to grow tobacco, have now found hope in soya beans. Francis Masiaga, a farmer from the Bugumbe Soya Farmers' Cooperative Society, said intercropping soya with maize has resulted in better harvest. "We have been selling a kilo of soya, which has mixed varieties, for Sh53 per kg while the pure varieties fetch as.... Read more »

Posted on : Wednesday , 21st October 2015

Tanzania: AfDB Gives U.S.$141 Million to Dar es Salaam Transit Plan

On completion the project will give Tanzania's commercial capital the most efficient public transport system in the East African Community. The AfDB Group Board of Directors recently approved loans of $97.42-million from the AfDB market window and the $44.29-million from the Africa Growing Together Fund (AGTF). The Bank's contribution to the project represents 88.9% of the total estimated cost of $159.32 million while the government will.... Read more »

Posted on : Wednesday , 21st October 2015

German Investors in Three Day Visit, Explore Zim Opportunities

A GERMAN business delegation led by the head of the German African Business Association, Christoph Kannengiesser, is visiting Zimbabwe on a three day mission beginning Monday October 19, 2015. According to a statement released by the Germany embassy in Harare, the program of the visit comprises meetings with government representatives, a business roundtable and a workshop focusing on doing business in Zimbabwe. The German.... Read more »

Posted on : Tuesday , 20th October 2015

Nigeria: Foreign Oil and Gas Investors Are Watching Nigeria, Says Lawhead

The Managing Director of Oil and Gas Council, a global business network for senior oil and gas executives, Mr. Drake Lawhead has stated that foreign investors in the oil and gas industry are currently watching Nigeria, stressing that it is undeniable that Nigeria's foreign direct investment has been hampered by the perception or fact of corruption and theft. Speaking on the forthcoming West Africa Energy Assembly scheduled for December.... Read more »

Posted on : Tuesday , 20th October 2015

Regional Power Play in Tussle Over New Route of Uganda Oil Pipeline

The race to build Uganda's oil pipeline has been thrown open, realigning the regional power play after Tanzania inked an agreement with Uganda over a possible southern route early this week. Tanzania argues that its route will offer a cheaper option in transporting Uganda's crude oil. Kenya has now taken a tough stance to guard its interests that include the Lamu Port Southern Sudan-Ethiopia Transport (Lapsset) corridor project.... Read more »

Posted on : Tuesday , 20th October 2015

East Africa: Total, Tullow Differ On Choice of Oil Route

Oil companies Total and Tullow agree with the Ugandan government on low tariffs for the transportation of the crude oil through a pipeline, but they differ over the choice of route. Tullow Oil has no objection to the northern route (Hoima-Lokichar-Lamu Port) as proposed by the Kenya government, but Total has raised concerns over the route, while China National Offshore Oil Company (CNOOC) is neutral. The differences were clear.... Read more »

Posted on : Tuesday , 20th October 2015

South Africa: Shell Gets Nod to Drill Wells in SA's Orange Basin

The Department of Environmental Affairs has issued an environmental authorisation for Shell South Africa Upstream B V's proposed exploration drilling in the Orange Basin Deep Water Licence Area, off South Africa's west coast. This gives Shell permission to drill up to two offshore exploration wells in the northern portion of the licence area, which covers about 37 290km². Successful exploration of gas will be a major step towards.... Read more »

Posted on : Tuesday , 20th October 2015

Zambia, Tanzania, Kenya to assess power output on high-voltage power line

Zambia, Tanzania and Kenya are trying to find out how much electricity a planned high voltage power line linking them will deliver to each country as they prepare to launch the $1.4 billion project by 2018, Zambia's energy ministry said. The interconnection is intended to enhance power trade, security of electricity supply and regional economic integration, Zambia's energy ministry said in a notice issued on Friday inviting consultants to.... Read more »

Posted on : Tuesday , 20th October 2015

Encouragement to French Investment in Africa

President Muhammadu Buhari in Paris assured French investors of his administration's commitment to provide a suitable business environment that would boost economic activities and create jobs for the youth. News Agency of Nigeria (NAN) reports that Buhari gave the assurance at a gathering of investors at the France-Nigeria Business Forum held at the headquarters of the French Business Confederation in.... Read more »

Posted on : Tuesday , 20th October 2015

Hospitality & Services Sector driving growth in Africa says Economists

The services sector will become the main engine of growth in sub-Saharan Africa as agricultural exports continue to decline and the manufacturing sector remains stagnant in many countries. Latest data from UN Conference on Trade and Development (Unctad) shows that the sector contributes half of the continent’s output, outpacing the manufacturing sector. “Indeed, growth in services has been vibrant in Africa.... Read more »

Posted on : Tuesday , 20th October 2015

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