Market News Page No. 169| Africa Business News | Afrotrade

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Sh2.9bn centre to house Kenya roads agencies

The World Bank is set to fund the construction of a Sh2.9 billion complex in Nairobi that will house Kenya’s road institutions and the National Construction Authority. China’s firm, Avic has already won the project’s tender. The project, being overseen by the Kenya National Highways Authority (KeNHA), will see the setting up of four office blocks covering 35,000 square metres, a 500-seater auditorium and a.... Read more »

Posted on : Friday , 11th August 2017

New construction bill proposes radical changes to the sector

In a bid to tame rogue contractors and ensure accountability in the construction sector, a bill has been introduced in Parliament to ensure that each construction project has a professional manager. The bill introduced in Parliament in March seeks to have Kenya follow in the footsteps of South Africa, which is the only country in Africa with such an arrangement where the manager oversees the process of construction.The bill will await the.... Read more »

Posted on : Friday , 11th August 2017

ICT Regulation: Efficiency in transforming Rwanda's economy

Aline Uwitonze, an entrepreneur from Gatsibo District, says she no longer has to travel long distances, to access Banks or carry out financial transactions. “All I do is use my mobile phone, to send and receive money, read the news and most importantly, make calls to my customers from anywhere at affordable rates,” she says. Uwitonze’s story has been possible thanks to relentless efforts of the.... Read more »

Posted on : Wednesday , 9th August 2017

Rwanda's essential oils offer big profits from little land

Inside a metal shed in southeastern Rwanda, Nicholas Hitimana brandished a plastic container holding a green liquid: geranium essential oil, freshly distilled and ready for export at more than US$200 a kilo. The pioneer of essential oils in Rwanda, Mr Hitimana said he understood over a decade ago "the need to develop high-value crops" in his hilly nation of just 2.6 million hectares. Agriculture accounts for.... Read more »

Posted on : Wednesday , 9th August 2017

Rwanda: Telecoms Turn to Data as Voice Revenues Dip

With growing competition and diminishing voice revenues, Rwanda's telecom firms are increasingly turning to the data market segment to stay competitive and profitable. The situation (low voice earnings) is compounded by the declining (active) subscriber numbers and the increasing popularity of messaging services such as WhatsApp, Messenger or Viber, industry insiders say, adding that the market is 'overcrowded' and.... Read more »

Posted on : Wednesday , 9th August 2017

Alibaba CEO Jack Ma Announces 4 Big Projects at Youth Connekt Summit

Chinese Billionaire Jack Ma has announced four groundbreaking projects at the ongoing Youth connekt summit in Kigali, Rwanda. The billionaire arrived with a delegation aboard three planes that landed at Kigali international airport to attend the summit also attended by Rwanda President Paul Kagame. Without beating around the bush, Jack took the microphone thanked delegates attending the summit. Under project.... Read more »

Posted on : Wednesday , 9th August 2017

Assam�s Luxmi Tea to develop 4,500 hectare plantation in Rwanda

In a first for an Indian company, Assam’s Luxmi Tea Co. Pvt. Ltd has concluded a deal with the government of Rwanda to develop around 4,500 hectares (ha) of tea plantation jointly with local growers. Capping three years of negotiations, Luxmi Tea has secured 438ha under lease from the Rwandan government. The company will support local growers with know-how to cultivate 4,000ha more, and buy their crop paying a 44% share of.... Read more »

Posted on : Wednesday , 9th August 2017

IMF Commends Rwanda�s Economic Reform

The International Monetary Fund executive directors has commended Rwandan government for maintaining economic stability, and for its sound macroeconomic policies and progress with economic reform in recent years. Based on the assessment report issued by IMF, policies and progress made in process, have virtually contributed to strong economic growth and poverty reduction Rwanda’s economic development. Following the.... Read more »

Posted on : Wednesday , 9th August 2017

Rwanda: E-Health Key in Leveraging the Quality of Healthcare Services

Information and communication technology (ICT) is no longer just bits and bytes; it has become a tool to scale the world to greater heights. Various sectors have embraced it as a tool driving development, the health sector inclusive. During the African Health Forum of the World Health Organisation that was held last month, e-health was one of the topics discussed. e-health is the use of ICT to provide and support.... Read more »

Posted on : Wednesday , 9th August 2017

Rwanda: Foodstuff Prices Drop in Kigali

Prices for most foodstuffs, especially vegetables, have generally decreased in Kigali city and suburbs, a mini-survey by Business Times indicates. Tomatoes go for Rwf500 per kilogramme from Rwf1,000 last month, carrots cost Rwf500 per kilo down from Rwf700, while that of fresh beans is at Rwf500 compared to Rwf700 previously. A kilogramme of eggplants costs Rwf500 from Rwf700 and onions go for Rwf500 a kilogramme, down from.... Read more »

Posted on : Wednesday , 9th August 2017

Rwanda�s inflation rate slows to 4.8% in June

Rwanda’s inflation rate dropped to 4.8 per cent in June compared to 6.5 per cent recorded in May, the National Institute of Statistics of Rwanda monthly consumer price index (CPI) indicates. However, this is slightly higher than the 4.1 per cent recorded during the same period last year. The rate was down 0.8 per cent on a monthly basis, the report indicates. Rwanda uses CPI to measure price movements over time on a selected basket.... Read more »

Posted on : Wednesday , 9th August 2017

Rwanda in Talks With Alibaba Group Founder

He tried many things in life but failed many times, for example he applied for many jobs and was rejected but didn’t give up. He also started an online commerce project and it nearly failed but later succeeded to become China’s richest man. Jack Ma, a Chinese billionaire and founder of Alibaba is scheduled to fly to Rwanda and share entrepreneurial skills with Rwandan youth. “Legendary Chinese business.... Read more »

Posted on : Wednesday , 9th August 2017

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