Market News Page No. 208| Africa Business News | Afrotrade

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East Africa: Isuzu Buys 57.7 Percent Stake in General Motors East Africa

Japanese automaker Isuzu Motors Limited has bought out General Motors’ 57.7 per cent stake in General Motors East Africa (GMEA) for an undisclosed sum. The transaction will see the motor dealer change its name to Isuzu East Africa in April to reflect the change of control. Most of the dealer’s sales are bus, pick-ups and truck brands of the Japanese multinational whose status shifts from a vehicle supplier to an.... Read more »

Posted on : Friday , 3rd March 2017

East Africa: Utility Companies Urged to Give Incentives for Solar Use to Encourage Clean Energy

East African Community's utility companies should consider paying individuals a fee for the solar power they consume to encourage more investments in clean energy. While the grid parity -- the threshold between the hydroelectricity and solar tariff -- has narrowed with the dramatic fall in the prices of solar panels on the global market, the region has not fully seized this opportunity. The operationalisation of net metering.... Read more »

Posted on : Thursday , 2nd March 2017

Kenya: UK Mining Firm Discovers Gold Worth $1.7 Billion in Kakamega

A UK firm has announced the discovery of high-grade gold at its mines in Kakamega County. Acacia Mining said yesterday that it had discovered an estimated resource of 1.31 million ounces of gold at its mines in the Liranda Corridor in Kakamega, whose grade, Acacia added, is one of the highest in Africa. Mining Cabinet Secretary Dan Kazungu estimates the discovery could be valued at Sh171 billion ($1.65 billion). The.... Read more »

Posted on : Thursday , 2nd March 2017

East Africa: EALA Proposes Introduction of Contraceptives for Children

Kampala — The East African Legislative Assembly (Eala) has drafted a Bill seeking to introduce contraceptives for children and teenagers aged between 10 and 19. The Bill dubbed the EAC Sexual Reproductive Health and Rights (SRHR), Bill 2017, if passed into law will bind the East African Community member states to provide contraceptives to all EAC citizens including children. The Bill also seeks to legalise.... Read more »

Posted on : Thursday , 2nd March 2017

Kenya: As Nairobi Booms, Over 7500 New Millionaires Expected in 9 Years

Kenya has been tipped to create at least 7,500 new dollar millionaires in the next nine years as Nairobi grows to be among the most preferred cities in the world for investment. A significant rise in the number of millionaires (those with at least Sh100 million each, excluding their residential homes) and that of ultra-high-net-worth individuals (those with at least Sh3 billion) is expected in Mauritius, Ethiopia, Tanzania, Uganda,.... Read more »

Posted on : Thursday , 2nd March 2017

Kenya: Farmers Get Subsidized Fertilizer Ahead of Planting Season

Hundreds of farmers are thronging the National Cereals and Produce Board (NCPB) depot in Eldoret to get cheaper fertilizers ahead of the planting season set to begin in the region. The parastatal began selling the commodity Monday and the Nation witnessed a long queue at the depot in the town. The commodity is sold by the board at Sh1800 per bag for two planting varieties and Sh1500 per bag for top dressing.... Read more »

Posted on : Thursday , 2nd March 2017

East Africa: Researchers Confirm Khat's Medicinal Properties, Potential for Billion Dollar Industry

Khat, which was banned by the United Kingdom in 2014, is not as bad after all, at least going by a recent study commissioned by Kenya. The study, which involved more than 800 people residing in major khat growing areas of the country, was the first large study that looked at the public health impacts of the plant. Its results? Khat has medicinal properties that could be a game changer in the region's health and economic.... Read more »

Posted on : Thursday , 2nd March 2017

Tanzania: PM Asks Public Institutions to Get Profitable, Boost State Coffers

Prime Minister Kassim Majaliwa has instructed parastatal organizations to form partnerships among themselves and with the private sector to implement key projects towards realization of the industry-led economy, outlined in the Second Five-Year Development Plan (FYDP II). Funds amounting to 107trl/- will be required to undertake the ambitious plan spanning 2016/17 - 2020/21, with the theme; "Nurturing Industrialisation for Economic.... Read more »

Posted on : Thursday , 2nd March 2017

Tanzania: Dar Scientists Make Aflatoxin Breakthrough

Aflatoxin, a major food poisoning fungal infestation that claims hundreds of Tanzanian lives may soon cease to be a major threat following new breakthroughs as the country's scientists finalize on-farm tests aimed at controlling its spread. The toxic compounds produced by the green mold fungus, which can cause liver damage and cancer, occasions losses of up to 550bn/- annually, and kills at least 3,000 people within that.... Read more »

Posted on : Thursday , 2nd March 2017

Ethiopia: Focus on Domestic Production to Boost Industrial Development

State Minister of Industry Dr. Alemu Sime pinpointed that the country is emulating the experiences of China and South Korea to promote domestic production and foster its industrial development. This was disclosed during a recent visit of senior government officials to HANSOM KINFENGDA Manufacturing - a Chinese company located at Eastern Industrial Zone engaged in producing special type of corrugated pipes . Following the visit,.... Read more »

Posted on : Thursday , 2nd March 2017

Ethiopia: Prioritizing Skilled Labour Through Improved Education Infrastructure

Of late, Prime Minister Hailemariam Desalegn had laid a cornerstone for the construction of Borena University in Borena Zone, Oromia State. As the premier spoke after the groundbreaking ceremony, the construction of the university will assist in preserving the cultural values of the pastoral communities, and thereby to address their socio-economic issues. In fact, efforts have been well undergoing in Ethiopia to make the content and the.... Read more »

Posted on : Thursday , 2nd March 2017

Kenya: Lands Ministry Unveils Plan to Streamline Urbanisation and Land Use

Nairobi — A National Spatial Structure (NSS) expected to guide physical planning in the country has been unveiled. The structure which is contained in the National Spatial Plan (NSP) for the 2015-2045 period was launched on Wednesday by the Cabinet Secretary in the Ministry of Lands and Physical Planning (MOLPP) Jacob Kaimenyi. Speaking during the launch, Kaimenyi said the blueprint will henceforth guide three areas of.... Read more »

Posted on : Thursday , 2nd March 2017

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