Market News Page No. 226| Africa Business News | Afrotrade

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Rwanda: Govt Finds New Minerals as Part of Exploration Drive

Rwanda has far more natural resources than previously thought, an official familiar with the country's mineral exploration programme has said. The revelation comes days after the Government established a fully-fledged statutory body to oversee and coordinate all the exploration and mining-related activities in the country: the Rwanda Mines, Petroleum and Gas Board. Dr Emmanuel Munyangabe, who the Cabinet on February 3 appointed.... Read more »

Posted on : Monday , 13th February 2017

Rwanda: Govt Reveals New Measures to Streamline Housing Sector

The government has come up with new measures to meet housing needs in the country, Didier Sagashya, Director General of Rwanda Housing Authority, has said. While addressing a post-cabinet press conference this week, Sagashya said the government had identified bottlenecks hindering the delivery of low-cost housing, hence devising new procedures to streamline the set targets within the housing sector. "We informed the.... Read more »

Posted on : Monday , 13th February 2017

Tanzania: MPs Push for Adequate Funds to Boost Industrialization Drive

Members of Parliament (MPs) yesterday came out strongly in support of the Ministry of Industries, Trade and Investments, asking the government to release more development funds to accelerate an industrial driven economy. Majority MPs nodded to a report by the Parliamentary Standing Committee on Industries, Trade and Environment, which cautioned that failure to adequately finance development projects under the ministry is likely to.... Read more »

Posted on : Monday , 13th February 2017

Tanzania: National Housing Corporation Puts up 300 Units for Sale In Dodoma

The National Housing Corporation (NHC) has launched the sale of 300 housing units at Iyumbu Satellite Centre in Dodoma Region, being built at a cost of 12.3bn/-. Initiated in December 2016, the project is designed to accommodate the government officials and commercial investors, among others. NHC Director General Nehemia Mchechu said in Dar es Salaam yesterday that the scheme, to be completed in June this year, was set up after the.... Read more »

Posted on : Monday , 13th February 2017

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

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