Market News Page No. 149| Africa Business News

Rwanda mining sector revenue jumps to $373m boosting investment

The Mining sector is Rwanda's second largest foreign exchange earner just behind tourism and the resilient East African country took in $166-million from exports of the commodities in 2016. Supported by a rebound in global prices of commodities, Rwanda's mineral exports earnings witnessed a more than double growth to $373-million in 2017 as compared to the previous 12 months, a top official said. Mr. Francis Gatare, Chief Executive at.... Read more »

Posted on : Tuesday , 9th October 2018

Rwanda registers a healthy economic growth rate: International Monetary Fund

The IMF and the World Bank have released the growth estimates for Rwanda to 7.2 percent . The International Monetary Fund(IMF) has retainied the economic growth projection for 2018 at 7.2 percent based on strong industrial policy and favourable climate which helped in boosting agricultural output. Rwanda is one of the fastest growing economies with an average growth rate of 7 percent every year since 2000. Laure Redifer the head of.... Read more »

Posted on : Tuesday , 9th October 2018

ABB to equip first high speed rail link in Tanzania

The Tanzanian government has selected well known Swedish-Swiss multinational corporation, ABB to supply complete substation equipment and engineering solutions for a 530 km-long high-speed electric line stretching between Dar es Salaam and Makutupora. Termed as a landmark project, the line is intended to link Tanzania’s port cities with interior areas and neighbouring countries to stimulate regional trade and passenger travel in the.... Read more »

Posted on : Thursday , 4th October 2018

Construction work on road linking Kenya and Burundi complete

Construction work on the 1,545 km road linking the port of Mombasa and Burundi dubbed the Mombasa-Bujumbura highway is now complete and is set to increase trade between the two countries. Transport Cabinet Secretary James Macharia, confirmed the reports and said the road which is part of the Trans-African Highway, links the port through Holili, Singida-Kobero border and finally to Bujumbura, slashing the distance between Mombasa.... Read more »

Posted on : Thursday , 4th October 2018

EU Projects in Tanzania to Boost Agriculture

The European Union (EU) and the government of Tanzania on Tuesday have signed a 103.5-million-Euro financing agreement to improve productivity in the agricultural sector. A joint statement by the EU and the government of Tanzania said will focus on horticulture, coffee and tea to improve agricultural productivity. "Under the agreement the EU will provide 100 million Euro and implementing partners will contribute 3.5 million.... Read more »

Posted on : Wednesday , 3rd October 2018

Kenya pushes back plans for Sh968bn nuclear power plant to focus on renewables

Kenya’s Ministry of Energy has released an updated power development plan, unveiling the nation’s energy strategy between 2017 and 2037. Under the strategy, construction of the planned Sh968bn (US$9.6bn) nuclear power plant has been postponed by nine years. The plant had been initially intended for building in 2027, but is now set for 2036 at the earliest. The first unit is anticipated to be built in 2036, followed by a second.... Read more »

Posted on : Wednesday , 3rd October 2018

Medical Experts from Saudi Arabia to Travel to Tanzania after Their Success in Yemen

Balsam International, a heart surgery and cardiology team is preparing to go to Dar es Salaam, Tanzania, in the next few days to treat 176 heart patients after successful trips to treat 225 heart patients in Yemen. Dr. Imad Bukhari, cardiac surgery consultant and CEO of Balsam, said that during the six-day trip the team aims to conduct 16-18 open heart surgeries, about 60 catheterizations, offering treatment to 100 cases in outpatient.... Read more »

Posted on : Monday , 1st October 2018

Tanzania acquires coffee, tea and legumes market in China

Tanzania Trade Development Authority (TTDA) has said that the country has secured a market for coffee, cashew nuts, ginger, tea, peas, and legumes in China where there is high demand for the commodities. A media report said that the development was announced by TTDA Director General, Mr Edwin Rutageruka after the Asian country was impressed by the commodities during ChinaASEAN expo 2018 held in China. “China’s population is.... Read more »

Posted on : Monday , 1st October 2018

An agreement USD 66.60 million for infrastructural construction signed between Rwanda and India

Rwanda and India have signed a US$66.60 million (Approximately Frw 56 billion) concessional loan agreement worth US$66.60 million (Approximately Frw 56 billion) towards the construction of the Base- Butaro-Kidaho road project. Dr. Uzziel Ndagijimana, Rwandan Minister of Finance and Economic Planning signed on behalf of the Rwandan Government along with Mr. Tarun Sharma, General Manager and Regional Head of India Export Import Bank representing.... Read more »

Posted on : Monday , 1st October 2018

Nairobi CBD will soon boast of the largest mall space in Kenya

British architecture firm aLL Design and Nanyuki Cedar Mall developer Kiloran Development Group Kenya is set to construct the largest mall space on the periphery of Nairobi’s City Centre. The development will aim to become a stand alone retail leisure destination but will also have offices. The shopping mall which will be christened ‘The Beacon’ is planned to be set on a site off the east of Uhuru Highway towards Bunyala Road.... Read more »

Posted on : Saturday , 29th September 2018

EAC works to Excel in Low Cost Car Assembly & manufacturing Plants in East Africa

The East African Community is paving way for more local assembly points and manufacturing plants of affordable vehicles in the region. This comes day after an Extra Ordinary Sectoral Council on Trade, Industry, Finance and Investment met last week to have conversations on industrialization matters in the community which has become a major agenda for the EAC Heads of State Summit. Among the items on the agenda were the consideration of the:.... Read more »

Posted on : Friday , 28th September 2018

China Promotes Tanzania's Cassava Production

The ongoing China-ASEAN Expo 2018 has promoted investment and trade opportunities in Tanzania, yielding positive results with some Chinese investors expressing interest in processing cassava starch. The good news comes amid the 1 billion US dollars (about 1.22trl/-) agreement between the governments of Tanzania and China in commercialization of the tubers, which are on high demand in Asian countries, particularly China. Speaking on the.... Read more »

Posted on : Thursday , 27th September 2018