Market News Page No. 128| Africa Business News

Prime Minister Shinzo Abe Renewed Japan's Pledge To Boost Investment In Africa

Abe pledges to boost investment in Africa from the country's private sector to more than $20 billion over the next three years, in the hope of facilitating the giant continent's development. Abe's pledge meant that the government would encourage greater investment from the private sector with the aim of surpassing the previous three-year total, although he did come up with a specific numerical target. Abe told African leaders.... Read more »

Posted on : Friday , 6th September 2019

USD 98 million received for Ethiopia-Djibouti corridor road project

Ethiopia is going to receive USD 98 million funds from African Development Bank (AfDB) for the construction of the Ethiopia-Djibouti corridor road project. The total cost of the project is expected to be USD 255 million. Djibouti government is expected to fund around USD 5.3 million via AfDB grant while the remaining fund of USD 151 million is expected to be covered by Ethiopia government in co-financing contribution. The project will start.... Read more »

Posted on : Friday , 6th September 2019

USD 300 million Industrial park to be constructed in Ethiopia

Ethiopia is going to partner with China for the construction of USD 300 million industrial park in Addis Ababa, Ethiopia. Economic and commercial counselor at the Chinese embassy in Ethiopia, Liu Yu announced the report and said that the industrial park is going to focus on engaging equipment manufacturing companies. He also states that land acquisition and financial work has already been in progress. The industrial park is going to construct.... Read more »

Posted on : Thursday , 5th September 2019

GE Completes Gas Turbine Upgradation at Tanzania's Songas Ubungo Power Plant

Songas Ubungo Power Plant supplies more than 20 percent of the grid connected power in Tanzania; upgrade of three GE’s LM6000PA and one LM6000PC Aero derivative gas turbines Improved Plant Efficiency and Reliability. GE and Songas today disclosed they have successfully completed upgrades to the whole GE fleet of three LM6000PA and one LM6000PC gas turbines at the Songas Ubungo Power Plant in Dar es Salaam, Tanzania. These technology.... Read more »

Posted on : Tuesday , 1st October 2019

Ramaphosa's Visit To Tanzania Aims At Deepening Of Existing Economic, Political, Cultural And Social Relations Between The Two Countries

President Cyril Ramaphosa gave a two-day state visit to Tanzania on 14 and15 August 2019, at the invitation of President John Pombe Magufuli. This was his first state visit since being elected President in May. As part of his visit, Ramaphosa also lead the South African delegation to the 39th Southern African Development Community (SADC) Ordinary Summit of Heads of State and Government, held on 17-18 August. According to.... Read more »

Posted on : Wednesday , 4th September 2019

Mr. Green Africa, A Kenya-Based Plastics Recycler Receives Funding From DOB Equity, Global Innovation Fund And Unilever

Mr. Green Africa engages more than 2,000 previously marginalized waste collectors and sells more than 2,000 metric tons of “fairly sourced” recycled materials for local and international markets, DOB Equity says in a news release announcing the investment. DOB Equity, a Dutch investor in East Africa, and London-based Global Innovation Fund (GIF), in partnership with the consumer brands company Unilever, have invested in Mr..... Read more »

Posted on : Wednesday , 4th September 2019

Tanzania industry comes together at 22nd Buildexpo Africa 2019 this September

22nd Buildexpo Tanzania is back in Dar-es Salaam from the 12th to 14th September 2019 at the Diamond Jubilee Hall. Held right in the city center the event is expected to introduce a large number of companies from around the world to Tanzania. After a very successful show in Kenya, the largest international trade exhibition in East Africa dedicated to the building and construction industry is on its way to make a big impact on the Tanzanian.... Read more »

Posted on : Monday , 2nd September 2019

Kenya Committed To Improving Livelihoods Of Citizens Through Provision Of Quality & Affordable Health Services

Saitoti Torome, principal secretary of the State Department for Planning, said the government pledged to bridge skills and technological hiccups that have undermined provision of quality healthcare services. Officials said that Kenya will grow budgetary allocation towards training of healthcare workers and accession of technologies in order to improve response to a rising disease burden. "The government is committed to.... Read more »

Posted on : Monday , 2nd September 2019

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