Market News Page No. 225| Africa Business News

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

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