Market News Page No. 110| Africa Business News

Kenya Exports First Oil Shipment

Kenya's President Uhuru Kenyatta flagged off the country's first export shipment of oil Monday, more than 200,000 barrels of crude. The oil exports begin an era of greater prosperity for Kenyans. The oil was purchased by a British-based Chinese company, according to a Kenyan government announcement, AP reported. The shipment is an accumulation of oil produced since Kenya began pumping in June 2018 at up to 2,000 barrels a day. The oil.... Read more »

Posted on : Wednesday , 28th August 2019

South Africa And Tanzanian Agreed To Deepen And Strengthen Economic Ties Through Expanded Trade And Investment

Cyril Ramaphosa and John Pombe Magufuli met in Tanzania for bilateral talks ahead of the 39th Ordinary Summit of the Southern African Development Community (SADC) held in the capital Dar es Salaam. According to a statement issued by the South African Presidency, the two leaders agreed to work together to make sure economic growth and advance peace and stability in the two countries. Ramaphosa said during the discussion on.... Read more »

Posted on : Tuesday , 27th August 2019

Linking Payment Solutions In Africa Will Help Boost Intra-Africa Trade And Support The Growth Of Regional Firms

East African Community member states are working towards linking the regional electronic payment system to other payment solutions in Africa, to moderate trade around the continent following the launch of the African Continent Free Trade Area (AfCFTA). EAC central banks are now finding ways of transforming the system by linking it with other payment solutions in Africa to allow seamless transfer of cash across the continent at both.... Read more »

Posted on : Monday , 26th August 2019

Iran Says "Africa Is A Green Market With Huge Potentials And A Gateway To New Opportunities"

Following Iran’s policies for development of trade ties with African countries, the country’s Trade Promotion Organization (TPO) hosted an Iran-East Africa business forum at Tehran Permanent International Fairgrounds to provide an opportunity for the two sides to discuss future steps in economic relations. Focusing on banking, insurance and transportation areas, the business forum was attended by senior officials from the.... Read more »

Posted on : Monday , 26th August 2019

COLGATE PALMOLIVE (PAKISTAN) LIMITED AT THE INTERNATIONAL TRADE EXHIBITION IN DAR ES SALAAM, TANZANIA

COLGATE PALMOLIVE (PAKISTAN) LIMITED, a global leader in consumer products is participating at the 22nd EAST AFRICA INTERNATIONAL TRADE EXHIBITION (EAITE), Tanzania's premier business event. The well renowned international trade event is to be hosted at the centrally located Diamond Jubilee Hall from the 07th to 09th November, 2019. The company is expected to introduce leading products to the Tanzanian and Sub Saharan market with a wide market.... Read more »

Posted on : Thursday , 22nd August 2019

Kenya to Accept Qatari Deal on Oil Blocks

Kenya will confirm the procurement of offshore oil and gas analysis blocks by Qatar Petroleum, a State-owned company of the energy-rich Arab nation, Petroleum Principal Secretary Andrew Kamau has said. Qatar Petroleum, mid last month, said it has signed a deal with French multinational oil and Gas Company Total and its Italian peer Eni to take over three offshore exploration blocks in the Lamu Basin. On adding to a growing list of.... Read more »

Posted on : Wednesday , 21st August 2019

Kenya Partners With South Korea To Increase Productivity.

The government of Kenya has partnered with South Korea on an agricultural mechanisation project that seeks to increase productivity. The governments will work jointly under the Korea Africa Food and Agricultural Corporation Initiative (KAFACI) project, which is targeting small-scale farmers. The project is aimed at lifting the current mechanisation rate of 30 percent to at least 40 percent in the coming years in a bid to cut cost of labour and.... Read more »

Posted on : Wednesday , 21st August 2019

Tanzania, Coffee Production Almost Doubled To Four Years High

Tanzania coffee production has almost doubled to four years high, thanks to good weather and high crop circle boom this season. Tanzania Coffee Board (TCB), acting Director General Primus Kimaryo told the ‘Daily News’ yesterday that the production boomed from 47,000 metric tonnes in 2 017 / 18 to 6 5 ,5 00 metric tonnes in 2 018 / 19 . He said coffee production was also pushed up by control instituted at cooperative society to keep.... Read more »

Posted on : Wednesday , 21st August 2019

Kenya & Botswana Seeks to Collaborate on Green Energy Exploration

Kenya is eager to collaborate with Botswana in exploration and production of more green energy to witness the increasing demand for electricity, said an energy official. The Kenya Electricity Generating Company (KenGen), CEO, Rebecca Miano, said that the power producer was prepared and keen to offer Botswana expertise in various sectors of electricity production. “Kengen has 310 drilled wells producing 690MW from.... Read more »

Posted on : Tuesday , 20th August 2019

ROCKPLANT EAST AFRICA AT MINEXPO 2019 IN DAR ES SALAAM, TANZANIA

Rock Plant East Africa, a global leader in construction, quarry and mining solutions is participating at the 5th Minexpo Africa, Tanzania's premier business event for the mining and heavy machinery industry. The international trade event is to be hosted at the centrally located Diamond Jubilee Hall from the 12th to 14th September, 2019. The company is expected to promote its industry-leading range products and machinery to the Tanzanian and Sub.... Read more »

Posted on : Tuesday , 20th August 2019

Tanzania and South Africa commit to increasing bilateral trade and investment opportunities

South Africa’s President Cyril Ramaphosa welcomed by John Magufuli, the President of Tanzania during his visit to Dar es Salaam. This was the first official visit of the South African President to Tanzania after being elected in May. The two presidents discussed many bilateral issues between the countries and signed agreement under many sectors for the advancement of trade, investment, energy cooperation and infrastructure development.... Read more »

Posted on : Monday , 19th August 2019

Largest Wind Power Project of Africa is now Accessible in Kenya

Kenya progresses to make giant strides in its adherence to renewable energy. It has disclosed Africa’s biggest wind power project in a gusty and rocky desert stretch located 600 kilometers (372 miles) north of the capital Nairobi. The Lake Turkana Wind Power farm includes 365 turbines with a capacity to dispense 310 megawatts of reliable, low-cost energy to Kenya’s national grid. The wind farm is situated in the Turkana Wind.... Read more »

Posted on : Monday , 19th August 2019