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

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Ethiopia: Oromia State to Initiate Industrialization Based Economic Revolution

Oromia set to initiate a state wide economic revolution to fundamentally overhaul its economy through research based public-private partnership investment strategy aiming at ensuring economic justice among Oromo people. State Communication Bureau Head Addisu Arega said the initiative would encourage domestic investment which in turn benefits the youth and farmers together with Foreign Direct Investment. According to Addisu, the.... Read more »

Posted on : Monday , 6th March 2017

Tanzania Aims to Triple Power Generation Output by 2020

Tanzania hopes to triple its power generation output by 2020, and boost access to the national grid. Under the plan, the government hopes to increase output to 4,915MW from 1,501MW currently, and boost electricity connections to 60 per cent of the country's population of about 51 million people, from 36 per cent currently. The plan will cost $11.6 billion in the short term and will be funded 70 per cent by debt, with government.... Read more »

Posted on : Saturday , 4th March 2017

East Africa Taking Considerable Steps to Boost Energy Access - World Bank Report

East African countries are emerging among leaders on the continent when it comes to putting in place policies on access to energy, energy efficiency and investment in renewable sources. According to a new World Bank report, Kenya, Tanzania and Uganda -- unlike many countries in sub-Saharan Africa -- are taking progressive measures which include: A dedicated budget for electrification, capital subsidies for utilities to provide.... Read more »

Posted on : Saturday , 4th March 2017

Africa: China Committed to Stronger Ties With African Nations

Beijing — A Chinese Diplomat has recalled the vital role African countries played in ensuring that the People's Republic of China regained its status at the United Nations, while calling on African journalists to help strengthen the ties between Africa and China. Alpha Daffae Senkpeni, This email address is being protected from spambots. You need JavaScript enabled to view it. Li Zhaoxing, President of China Public.... Read more »

Posted on : Saturday , 4th March 2017

Ethiopia: JICA Inaugurates Water Supply System Benefiting 91,000 Households

Japan International Cooperation Agency (JICA) funded Water supply development project which benefit 91, 000 people at Kibet Town in SNNP state inaugurated Tuesday. Speaking the multidimensional benefits of the water supply system, Japanese Ambassador to Ethiopia Shinichi Saida said this water supply system is a token of friendship between the two countries. "This project is tangible in improving access to a safe water supply,.... Read more »

Posted on : Saturday , 4th March 2017

Africa: Urgent Need for New Antibiotics That Combat Resistant Bacteria

Rome/Geneva — The United Nations health organisation has just published its first ever list of antibiotic-resistant "priority pathogens" - a catalogue of 12 families of bacteria that pose the greatest threat to human health. The list was drawn up in a bid to guide and promote research and development (R&D) of new antibiotics, as part of the World Health Organization (WHO) efforts to address growing global resistance.... Read more »

Posted on : Saturday , 4th March 2017

Tanzania: Export Ban on Mineral Sands to Continue

Dar es Salaam — President John Magufuli has reiterated the ban on the exportation of mineral sands, and has directed the minister of Energy and Minerals, Prof Sospeter Muhongo, to ensure the ban is enforced. President Magufuli said this during the launch of Goodwill Ceramic Limited, a tiles plant based in Mkuranga, as he began his four-day tour of Lindi, Mtwara and Coast regions. He said Tanzania had been losing a lot of revenue.... Read more »

Posted on : Saturday , 4th March 2017

Tanzania Saw Addition of 200 New Dollar Millionaires Last Year

Dar es Salaam — Tanzania created 200 new dollar millionaires in 2016, a new report shows, sending out a picture that the government's cost cutting measures have had little impact on individuals' wealth creation endeavours. Knight Frank's 2017 wealth report shows that the number of super rich Tanzanians jumped from 2,200 in 2015 to 2,400 in 2016. This happened despite reports that the cost cutting measures - initiated by.... Read more »

Posted on : Saturday , 4th March 2017

India Eyes Rwanda to Expand Footprint in East Africa

The visit of Indian Vice President Hamid Ansari to Rwanda and Uganda is seen as a strategy by the Asian giant to cement its presence in East Africa through trade deals and partnerships in order to rival China and Turkey. Mr Ansari, accompanied by government officials and businessmen, arrived in Rwanda on February 19 for a three-day visit, during which he signed three agreements that will enhance bilateral ties between the two countries.... Read more »

Posted on : Saturday , 4th March 2017

Ethiopia on Track to Overtake Kenya as Leading Economy in Region

Kenyan media outlets have it well covered recently that Ethiopia is about to overtake Kenya and become the leading economy in East Africa. Building on decade-long double-digit growth catalyzed by enormous government spending on infrastructure, the size of the Ethiopian economy, in terms of Gross Domestic Product (GDP) measurements, will reach 69.2 billion USD according to projections the International Monetary Fund (IMF) made for 2016..... Read more »

Posted on : Saturday , 4th March 2017

Ethiopia: Upgrade of Agri-Technology Vital to Keep Growth Going - Ministry

The Ministry of Agriculture and National Resources underscored the need for improving agri-technology to meet the goal of 594 million quintals crop production by end of GTP II. Speaking at annual Agriculture and Mechanization Day Wednesday, Minister Dr. Iyasu Abreha highlighted that the sector is playing the role of ensuring food security and catapulting the country's effort to industrialize its economy and join middle income.... Read more »

Posted on : Saturday , 4th March 2017

Kenya: Agri Insurance Uptake to Increase as Premiums Likely to Drop

Uptake of agriculture insurance in East Africa is expected to increase with the anticipated drop in premiums following the launch of a risk-sharing facility. The risk-sharing facility by the Global Index Insurance Facility (GIIF) and African Reinsurance Corporation (Africa Re) is aimed at encouraging regional underwriters to create affordable insurance products. GIIF is a multidonor trust fund managed by the World Bank with.... Read more »

Posted on : Saturday , 4th March 2017

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