Market News Page No. 217| Africa Business News | Afrotrade

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Ethiopia: Parliament Approves $250 Million Loan Deal With Chinese Bank for Power Projects

Addis Ababa — Ethiopia's parliament on Tuesday approved a 250-million-U.S.-dollar loan agreement made with China's Export-Import (Exim) Bank to finance major infrastructure construction in the country. The loan agreement, already approved by the Ethiopian House of Peoples' Representatives, the lower house, would finance supply and construction of 400-kv power transmission projects of Genale Dawa III-Yirgalem II-Wolayita Sodo.... Read more »

Posted on : Thursday , 9th February 2017

Ethiopia: Parliament Approves $250 Million Loan Deal With Chinese Bank for Infrastructure Projects

Addis Ababa — Ethiopia's parliament on Tuesday approved a USD 250 million loan agreement made with China's Export-Import (Exim) Bank to finance major infrastructure construction in the country. The loan agreement, already approved by the Ethiopian House of Peoples' Representatives, the lower house, would finance supply and construction of 400-kv power transmission projects of Genale Dawa III-Yirgalem II-Wolayita Sodo II-Hawassa II.... Read more »

Posted on : Thursday , 9th February 2017

Ethiopia: EAE Signs Deal with Local Contractors for Airport Terminal Construction

Ethiopian Airports Enterprise (EAE) concluded 2 agreements with contractors from Ethiopia, for the construction of Hawassa and Semera airports passenger terminals. The construction of Hawassa Airport passenger terminal is going to be undertaken at an outlay of 126,534,721 Birr. The project is awarded for FE Construction Material Rental Production and General Contractor while the design work was done by Bereket Tesfaye Consulting.... Read more »

Posted on : Wednesday , 8th February 2017

Tanzania: Local Hospital to Start Kidney Implants from Next Month

Muhimbili National Hospital (MNH) by the end of March, this year, will start local kidney transplantations, it has been confirmed. Speaking to 'Daily News' yesterday, MNH head of Communication Department, Mr Amiel Eligaesha said the exercise was supposed to start last month but was delayed, adding that it is part of the government's plan to cut down the number of patients travelling abroad for the same treatment. "Due to.... Read more »

Posted on : Wednesday , 8th February 2017

East Africa: USAID to Monitor EAC Grant More Closely

Arusha — The United States Agency for Development (USAID) has met with officials of the East African Community (EAC) Secretariat to operationalize the five-year Regional Development Objectives Grant Agreement (RDOAG) they received last year. "RDOAG provides for changes in the way USAID will do its business; strengthen USAID-EAC Partnership; stronger collaboration, coordination and communication, and institutional.... Read more »

Posted on : Wednesday , 8th February 2017

Ethiopia: New Three Wheeler Assembly Plant to Start Production Within 2 Months

A three-wheeler assembly plant owned by Redawa Motors Industry PLC and located in Dire Dawa City, Ethiopia, is scheduled to start production in two month's time. The assembly line is located in Dire Dawa’s Industrial Village. The construction of the assembly plant had started two years ago and was built at a cost of over 1.7 billion Birr. According to the company’s General Manager, Engineer Tadesse Admasie, the.... Read more »

Posted on : Wednesday , 8th February 2017

Rwanda: New Taxpayers Responsible for Increased Revenue Collection

Rwanda's total revenue collections, excluding local government tax and fees, increased to Rwf514 billion in the first semester of 2016/2017 fiscal year compared to Rwf470.6 billion collected during the same period last year. However, the figure falls short of the set target of Rwf516.5 billion and represents 99.7 per cent of performance level. According to the Rwanda Revenue Authority (RRA), collections from local government.... Read more »

Posted on : Wednesday , 8th February 2017

Tanzania: TANESCO to Spend $500,000 to Electrify Moro Suburbs

Dodoma — Tanzania Electric Supply Company (TANESCO) will spend over 1bn/- to implement a power project planned to nearly 900 new customers in Morogoro. The Mindu power project involves construction of a 8.9-km long transmission line with 33kV, a 35.4-km long 400kV power line and fixing seven transformers. This was disclosed yesterday by Energy and Minerals Deputy Minister Dr Medard Kalemani. The project, he said, is set.... Read more »

Posted on : Wednesday , 8th February 2017

Africa: What is limiting Africa's Resurgent Mining Sector?

Kampala — For the first time in years, there is a mood of cautious optimism in the mining industry, with commodity prices on the rise, shallow growth returning to different end markets, and most mining companies in better cost positions than in the recent past. However, the industry is still at a pivotal point as it faces challenges from cybersecurity threats, to technological disruption and environmental issues. Mining.... Read more »

Posted on : Wednesday , 8th February 2017

Tanzania: President Urges Defense Forces to Procure Local, Boost Industries & Economy

Defence and security organs were yesterday told to embrace the government championed industrial economy, through setting up of factories to add value to locally produced raw materials. "Why should we import uniforms for members of the armed forces and yet we produce cotton in large quantities? Even if it means producing garments from locally available sisal, let it be so," President John Magufuli ordered in Dar es Salaam.... Read more »

Posted on : Wednesday , 8th February 2017

East Africa: TAZARA Secures New Haulage Orders of Over 165,000 Tonnes

Dar es Salaam — The Tanzania-Zambia Railway Authority (TAZARA) has secured new orders to transport at least 165,000 tonnes of freight for various companies on the Copperbelt Province of Zambia this year following a renewed confidence to the hauler. A statement issued by the company's Dar es Salaam office indicates that the freight orders follow TAZARA Managing Director's visitations to various shippers and logistics companies in.... Read more »

Posted on : Wednesday , 8th February 2017

East Africa: Dar es Salaam Port has Potential to Turn Tanzania Into A Trade Hub

Dar es Salaam — Tanzania should open up its Dar es Salaam port to trudge cargo volume, expand and build new transport links to make Tanzania a regional hub while turning the country as Dubai of East Africa, the East African Business Week can report. "The Dar es Salaam port is an engine for economic growth, if we invest in logistic centers, improve on infrastructure and create a facilitative environment, we can easily turn Dar.... Read more »

Posted on : Wednesday , 8th February 2017

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