Market News Page No. 216| Africa Business News | Afrotrade

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Tanzania: Mining Firm to Invest $2 Million to Clean Up Image, Reconcile with Govt

Tanzania's largest mining company, Acacia, has set aside $2 million (Sh4 billion) to clean up its image and repair its relationship with the government following accusations of tax evasion and excessive profits, the South African Globe and Mail newspaper reports. Acacia Mining, which is a subsidiary of Toronto-based Barrick Gold Corp, owns three gold mines in Tanzania that include Buzwagi, Bulyanhulu and North Mara. But it has faced a.... Read more »

Posted on : Monday , 13th February 2017

Ethiopia, Turkey Discuss Ways to Increase Trade, Investment

President Mulatu Teshome and Turkey's President Recep Tayyip Erdogan held discussions in Ankara, Turkey. President Mulatu hailed the discussion they had on wide ranging issues as "fruitful and productive", according to Anadolu, a Turkish news agency. "We have recognized that additional effort is needed to further strengthen and deepen cooperation through economic interdependence and expanding trade and.... Read more »

Posted on : Monday , 13th February 2017

Ethiopia, Turkey Discuss Ways to Increase Trade, Investment

President Mulatu Teshome and Turkey's President Recep Tayyip Erdogan held discussions in Ankara, Turkey. President Mulatu hailed the discussion they had on wide ranging issues as "fruitful and productive", according to Anadolu, a Turkish news agency. "We have recognized that additional effort is needed to further strengthen and deepen cooperation through economic interdependence and expanding trade and.... Read more »

Posted on : Monday , 13th February 2017

Ethiopia: MSEs Awarded Condominium Electrification Project

National Condominium Electrification Program Office announced that it has finalized preparations to engage 81 Micro and Small Scale Enterprises (MSEs) in condominium electrification projects. Speaking at a consultative forum on job creation with stakeholders, Office CEO Gosaye Mengiste said yesterday that since the beginning of condominium construction in 2004,MSEs s have been playing major roles in the electrification program.... Read more »

Posted on : Monday , 13th February 2017

Rwanda: Peat Power Plant Ready to be Connected to National Grid

Gishoma Peat Power Plant is ready to be connected to the national electricity grid. Tests conducted on the plant have been successful. And come next month, if all goes according to plan, the country could have its first 'feel' of peat energy on the national grid. That is 15 megawatts of energy, mark you. According to officials from both Energy Development Corporation Limited (EDCL) and RUNH Power Corporation Ltd, the firm contracted to.... Read more »

Posted on : Friday , 10th February 2017

'Ethiopia Is a Gateway to the Wider Market of Africa' - Swedish Ambassador Jan Sadek

Of late, the 70th Anniversary of Ethiopia and Sweden's diplomatic relations was marked. Accordingly, The Ethiopian Herald held an exclusive interview with Swedish Ambassador Jan Sadek and Minister Counselor and Head of Development Cooperation Section, Annika Jayawardena, for their reflections on the seven decades diplomatic journey of the two countries. This piece is the first part of the summary of their responses to the questions raised by the.... Read more »

Posted on : Friday , 10th February 2017

Kigali International Airport Ranked Best in East Africa, Second Best in Africa

Kigali International Airport has been ranked second-best airport in Africa and best in East Africa by a reputable Canadian travel and hospitality firm, Sleeping Airports. Sleeping Airports, with their website, www.sleepinginairports.net, is an internationally recognised travelllers' online guide established in 1996 as a platform for passengers to share their airport experiences around the world. The survey, released Wednesday.... Read more »

Posted on : Friday , 10th February 2017

Rwanda: $14 Million I&M Bank Share Sale Proceeds to go Into New Airport Construction

Rwanda targets to use proceeds from the sale of its stake in I&M Bank to fund construction of the new Bugesera International Airport. Finance minister Claver Gatete told Parliament on Tuesday that the government expects to earn about Rwf11.5 billion ($14 million) from its 19.61 per cent stake sale in the lender. "The money will be invested as initial equity in the Bugesera airport," Mr Gatete said while presenting.... Read more »

Posted on : Friday , 10th February 2017

Kenya to See Boom in Conference Tourism in 2017 Despite Election Year

Despite being an electioneering year, 2017 is expected to be a boon for Kenya’s tourism, with a number of international conferences slated to take place here. Confirmed hotel and conference hall bookings indicate 2017 will witness a hype of activity buoyed by 2016’s success that saw over 100 world leaders visit Kenya at different times. In the past, election years in Kenya have attracted an intense focus by the.... Read more »

Posted on : Friday , 10th February 2017

Kenya: Jaguar Sees Higher Demand Despite Drop in New Luxury Car Sales

New luxury car sales dropped 30.3 per cent last year, with Jaguar being the only model to register higher demand among Kenyan dealers. Luxury car traders sold 285 units of the high-end vehicles in the year, down from a peak of 409 units recorded in 2015, according to data from the Kenya Motor Industry Association (KMI). Orders for Jaguars, sold by RMA Kenya, defied the general slump rising to 39 units from the previous year’s.... Read more »

Posted on : Friday , 10th February 2017

Kenya: Solar Pumps Protect Thousands of Children from Severe Drought

Turkana County, Kenya — A herders' borehole is helping protect the lives of thousands of children and animals as a new drought hits A borehole dug by herders in a desperate attempt to survive Kenya's last severe drought has been transformed into a lifeline for thousands of children and animals as a new drought hits, thanks to the addition of solar pumping and water storage. The well has become an oasis in the impoverished.... Read more »

Posted on : Thursday , 9th February 2017

Tanzania: Four Airports Await EIB Approval for Expansion

Dodoma — European Investment Bank (EIB) is set to decide on a proposal to upgrade and expand four airports, which are lined-up for fund receipt after completing the initial stage of scrutinising the contractors. The EIB had agreed to fund a special programme of transforming transport links to remote regions of Kigoma, Kagera, Tabora, Shinyanga and Sumbawanga by committing 50 million Euros (over 100bn/-) in long-term funding,.... Read more »

Posted on : Thursday , 9th February 2017

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