Market News Page No. 158| Africa Business News

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

Kenya increases food import.

During the first four months Kenya’s food imports grew by 30.10 percent, as compared to last year during this quarter. The data as provided by Central Bank of Kenya indicates that during the same period the import bill for Jan-Apr 2018 was Sh68.63 billion, while in the year 2017 it was Sh52.75 billion. This show that the country’s food imports has increased, reflecting the dependence on foreign markets despite improved weather.... Read more »

Posted on : Thursday , 28th June 2018

Impact Hub Kigali in Search for Innovation in Solar Energy

Impact Hub Kigali has launched a nationwide search for innovation in solar energy. The objective is to identify a company or individual with the most innovative solar solution or product that can inspire further innovation and adoption of renewable energy. The campaign is part of a pan-African programme that kicked off in 2017 in partnership with the World Wildlife Fund (WWF) and targets to support the marketplace for solar energy.... Read more »

Posted on : Thursday , 28th June 2018

Natural Gas Plant Construction to Begin in 2022

The Energy Minister said that the Actual construction of a Liquefied Natural Gas (LNG) plant in Tanzania will start in 2022. Dr. Medard Kalemani told the Parliament "We met the investors and everything is progressing well right now what is happening now is that the multinational firms are competing among themselves regarding which one should lead the project execution. By 2022, actual construction will start," Dr..... Read more »

Posted on : Wednesday , 27th June 2018

Wrigley's Looks to Increase Market Share in Kenya with New Factory

Mars Incorporated is close to unveiling their new Sh7 billion factory in Athi River later this year as part of their expansion drive of Wrigley’s their chewing gum manufacturing subsidiary. The decision was announced after a meet between director Victoria Mars and President Uhuru Kenyatta in Nairobi. On completion, the Wrigley’s factory is expected to produce 7.8 billion pellets of chewing gum every year, a move that is.... Read more »

Posted on : Thursday , 26th July 2018

East Africa Rapidly Developing Medical Facilities

A high number of East Africans go to India to seek treatment for cancer, kidney and heart diseases. However, the treatment can be accessed locally within East Africa says Gibson Kibiki, the executive secretary of the East African Health Research Commission (EAHRC). The diseases are chronic and hence the treatment needs to be precise which, according to Africans, is not available in their own country. This is because people are not aware.... Read more »

Posted on : Monday , 25th June 2018

Sansheng Pharmaceuticals, China starts production in Ethiopia

Sansheng Pharmaceuticals Plc, a Chinese pharmaceutical company starts its new production unit in Addis Ababa, Capital of Ethiopia on Sunday, June 17, 2018. Ethiopia still has a big number of pharmaceutical products being imported from out of the country. The number is as big as 85 percent of the 500 million U.S dollar per annum local market. "Pharmaceutical Sector has not yet evolved into where we projected it to be.... Read more »

Posted on : Monday , 25th June 2018