Market News Page No. 204| Africa Business News | Afrotrade

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Tanzania: Gemstones Worth $4 Million Sold at Arusha Auction

Tanzanite Gemstones valued at more than 9.3bn/- changed hands during the second Mineral Auction in Arusha Region over the weekend. The Director of Diamond and Gemstones Valuation Unit of Tanzania Mineral Sorting Company (TANSORT), Mr Richard Karugendo, said this year's auction beat last year event by over 2bn/- worth of sales because during the 2016 auction minerals worth 7bn/- were sold. A total of 68 mineral firms.... Read more »

Posted on : Wednesday , 15th February 2017

Tanzania: SAGCOT Claims It Doesn't Use Genetically Modified Organism Technology

The Southern Agricultural Growth Corridor of Tanzania (SAGCOT) does not use genetically modified organism (GMO) technology in its large scale farming initiatives in the country as it is not yet approved by the government. The SAGCOT Chief Executive Officer, Geoffrey Kirenga, said in Dar es Salaam over the weekend that the seeds used in their initiatives have been approved by the government and would never adopt a technology that has not.... Read more »

Posted on : Wednesday , 15th February 2017

Tanzania: Simiyu Region Earmarks 3000 Acres for Irrigation Farming

Simiyu — Simiyu Region has allocated at least 3,000 acres to pilot irrigation farming at Mwananyili area in Busega District, in efforts to turn the newly formed region into food production hub. The Regional Commissioner (RC), Mr Anthony Mtaka, revealed here yesterday that the irrigation project is scheduled to commence next year. He said the region aspires becoming the country's main food producer, adding that plans are already in.... Read more »

Posted on : Wednesday , 15th February 2017

Rwanda: Kigali Bans Business Offices in Residential Complexes

The office space business in the Rwandan capital Kigali is undergoing remarkable innovations as people dash to beat a March 2017 deadline to vacate offices from residential premises. The directive announced in early January gave businesses and Non-Government Organisations operating in residential premises a three months ultimatum to vacate. City of Kigali (CoK) authorities say the move is an implementation of the city master.... Read more »

Posted on : Wednesday , 15th February 2017

Ethiopia to Produce Record 7 Million Quintal of Sugar This Year; Exports to Follow

New Sugar factories construction and the upgrading activities carried out on existing ones are to come to fruition as the country halts sugar importation by end of this year. Ethiopian Sugar Corporation CEO Endawek Abtie said that the country is in the era of 'Sugar Revolution' since 2010/2011 with visions to meet domestic demands and export surplus product. Endawek unveiled that existing and new factories, which are entering.... Read more »

Posted on : Tuesday , 14th February 2017

Ethiopia: AfDB Loans Out U.S.$159 Million to Ethiopian Airlines for Expansion

Ethiopian Airlines has received a $159 million loan from the African Development Bank (AfDB), boosting its expansion plans. The credit line, backed by the African Trade Insurance Agency (ATI), will enable the airline to expand its fleet as it targets to have 140 aircraft within the next decade from the more than 80 planes in its hangar. The Ethiopian flag carrier, the fastest growing airline in sub-Saharan Africa, seeks to.... Read more »

Posted on : Tuesday , 14th February 2017

Ethiopia on Track for Economic Globalization with China's Cooperation

A large number of jobs have been created for African countries through China-Africa cooperation, which has promoted local economic growth, helped the maintenance of political and social stability in related countries, and reduced the emergence of refugees and immigrants and their disorderly flow. Planning is only a small part of the work, and what counts more is its implementation. Since the holding of FOCAC Johannesburg Summit in.... Read more »

Posted on : Tuesday , 14th February 2017

Ethiopia: Stakeholders from Ethiopia, Morocco Discuss Economic Transformation Policies

Ethiopian Development Research Institute (EDRI) and Morocco's OCP Policy Center jointly organized the first Ethio-Moroccan Strategic Economic Policy Dialogue here yesterday. Speaking at the occasion, EDRI Executive Director with a Rank of Minister Mekonnen Manyazewal commended Morocco's OCP Policy Center for the practical steps it has taken to forge partnerships with EDRI. He said the two partner institutions should further.... Read more »

Posted on : Tuesday , 14th February 2017

Ethiopia: UN to Plant 1 Million Trees Near Refugee Camps to Fight Deforestation

Rome — The depletion of forests risks creating tensions with local communities and disrupting the ecosystem A million trees are to be planted in Ethiopia to fight deforestation around camps hosting hundreds of thousands of South Sudanese refugees who rely almost entirely on wood for fuel, a United Nations agency said on Wednesday. The U.N. Food and Agriculture Organization (FAO) said the trees would be planted on 150.... Read more »

Posted on : Tuesday , 14th February 2017

Ethiopia: New Meter Taxi Rates Implemented

Addis Ababa City Transport Authority yesterday announced that new meter taxis fare rate would take effect today. According to the Authority, the fare of four-seat meter taxis is 10 Birr per kilometer while 13 Birr for seven-seat taxis per kilometer. Authority Communication Officer Meteku Gebisa said that this rate would be effective up until 10 PM local time. Beginning from 10:01 onward, the rate will increase by 50 per cent,.... Read more »

Posted on : Tuesday , 14th February 2017

Rwanda: Govt, Industry Players Discuss 'Smart Cities' Implementation Roadmap

African countries are gearing up to accelerate socio-economic development through affordable access to broadband and use of appropriate information and communication technologies (ICTs), under Smart Africa agenda. Part of this is to find ways to leverage the principles of urban planning and technology solutions to promote efficiency of cities. Under the 'Smart Cities' initiative, multiple sector stakeholders and industry.... Read more »

Posted on : Tuesday , 14th February 2017

Rwanda: RwandAir Nominated in Best Airline Category at Tourism Excellence Awards

RwandAir has been nominated for the Uganda Tourism Excellence Awards 2017 in the Best Airline category. The national career is competing for the accolade with Ethiopian Airlines. This annual event is designed to promote and reward excellence in the tourism industry to help preserve standards in the sector. The awards also celebrate the achievements of the tourism industry, recognising hard work and dedication exhibited by individuals.... Read more »

Posted on : Tuesday , 14th February 2017

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