Market News Page No. 149| Africa Business News

East Africa- Solar power creating new economic opportunities

A report that highlighted the new economic benefits to households in East Africa from off-grid solar power was released by GOGLA, the non-profit trade body for off-grid solar power. The researchers collated data from 2,300 solar owners in Kenya, Rwanda, Mozambique, Tanzania, and Uganda to work out the impact of new renewable installation on their livelihood. Nearly 60 percent of respondents reported an increase of.... Read more »

Posted on : Thursday , 19th July 2018

4 More Car Manufacturers Target East Africa for Local Auto Assembly

Car Manufacturers are targeting East Africa to setup assembly line within the region of the continent.Simba Corp, a Kenyan company is in discussion with 4 automakers for setting up their assembly units in the country. While Chief Executive Officer of Simba Corp Adil Popat confirmed discussion with Renault of France about their assembling unit, the other car manufacturer showing interested is Mahindra and Mahindra Ltd, of India. He further.... Read more »

Posted on : Tuesday , 17th July 2018

Tanzania- Liquefied Natural Gas To Boost Business in Tanzania

TANZANIA is on the verge of what could very well be its biggest ever economic boom. Investors around the globe will undoubtedly be keeping an eye on the project's progress, with a number of organizations ready to set up Tanzanian hubs once they've been assured of the country's ability in accommodating major business ventures. The appetite is unquestionably there, the next crucial step is turning that eagerness into.... Read more »

Posted on : Monday , 16th July 2018

Ethiopia- Measures Taken to Bridge Electricity Gap

Over 70% of people still have no access to electricity even though the current grid covers about 60% of the towns in Ethiopia. This gap motivates the government to look for various partnerships that will assist in connecting this number of people to the national grid. GE Grid Solutions a global power firm announced it has completed a $40 million electricity transmission system improvement turnkey project in.... Read more »

Posted on : Monday , 16th July 2018

Adopting LED Technology - The future is now

Customer experience is an important part of visual marketing and a prime component of the same is lighting. It is key to help highlight displays and properly showcase product to potential customers so as to create a better shopping experience that drives sales and revenue. For these reasons, it is critical to maintain a well-lit facility. But does it mean that a facility may shoulder greater energy requirements and increased costs. Business.... Read more »

Posted on : Wednesday , 22nd August 2018

Mining landscape in Tanzania is booming - government opens markets

In Tanzania, mining includes precious metals such as gold, iron ore, nickel, copper, cobalt, silver. Mining of industrial minerals like diamond, tanzanite, ruby, garnet, limestone, soda ash, gypsum, salt, phosphate, gravel, sand, dimension stones and lately graphite are also among the more interesting in the export market. Fuel minerals like coal and uranium are also being mined. Mining related activities in Tanzania have contributed 3.7% to its.... Read more »

Posted on : Wednesday , 22nd August 2018

Tanzanian economy expected to grow vibrantly in 2018 and going forward

The Minister for Finance of Tanzania said on Monday that the economy is expected to grow by 7.2 percent in 2018, up from around 7.1 percent last year, and the fiscal deficit will increase on the back of higher infrastructure spending. Economic output in the East African nation is expected to be boosted by positive activity in the key mining, construction, transport and communications sectors. In a special address to the parliament,.... Read more »

Posted on : Saturday , 1st September 2018

Water projects under Tanga UWASA undergo major upgrade

In a significant development a contract between the Tanga Urban Water and Sanitation Authority (Tanga Uwasa) and Juin Company Ltd. for the rehabilitation of the Lushoto Town water infrastructure to ease water supply was signed. The project, is aimed at easing the supply of water in the district, and will be constructed to the tune of US $341,000 and is expected to take 8 months to be complete. Tanga Water Utility Company, Acting Managing.... Read more »

Posted on : Wednesday , 22nd August 2018

Sesame farmers yield high profit by Farm Africa project.

Sesame producers are profiting from the product development, on account of a Farm Africa Project. The gathering, conducted by Farm Africa, pulled in farmers and dealers from Bahi, Babati, Kilwa and Manyoni areas and in addition authorities from the Agriculture Seeds Agency. Fatm Africa encourages producers to expand their income, sustenance and food security by enhancing farming practices, showcase linkages and business.... Read more »

Posted on : Tuesday , 10th July 2018

Ethiopia- Tendaho Geothermal Project Gets US $9m Grant From AFD

The AFD which stands for French Development Agency has approved US $9m grant for the development of the Tendaho geothermal project. The signing of the grant agreement took place at the Ministry of Finance and Economic Cooperation between Frederic Bontems, Ambassador of France to Ethiopia, Ethiopian State Minister of Finance and Economic Cooperation, Admasu Nebebe, and Ignace Monkam-Daverat, the AFD regional manager in Addis.... Read more »

Posted on : Monday , 9th July 2018

Tanzanian Welders to be trained by Veta for Hoima-Tanga Oil Pipeline

Thanks to the training provided by the Vocational Education and Training Authority (Veta), the welders in Tanzania will be equipped with the international capacity to prepare for Hoima-Tanga oil pipeline jobs, VETA Curriculum Development Specialist, Ms. Stella Ndimubenya said this when speaking to The Citizen at the Authority's pavilion during the 42 Dar es Salaam International Trade Fair. She said this goes hand in.... Read more »

Posted on : Tuesday , 3rd July 2018

A 30MW solar power plant to be introduced

The Rwandan government, SB Energy Corp, and Mara Corporation Ltd have signed a MoU to develop a 30MW solar power plant with a storage facility. The deal was signed during the International Solar Alliance (ISA) Conference which took place in New Delhi, India. The Minister for Infrastructure, James Musoni and Clare Akamanzi, the chief executive officer for the Rwanda Development Board, represented government at the signing.... Read more »

Posted on : Monday , 2nd July 2018