Market News Page No. 227| Africa Business News | Afrotrade

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Ethiopians in China Purchase GERD Bonds Worth $14000

Ethiopians and foreign nationals of Ethiopian origin residing in Beijing, China, have pledged to purchase bonds worth 14,000 USD to finance the construction of the Grand Ethiopian Renaissance Dam (GERD). In a press release sent to The Ethiopian Herald, Office of the Spokesperson of the Ministry of Foreign Affairs said the pledge was made at an event organized to mark the 11th Nations, Nationalities and Peoples Day on the premises of.... Read more »

Posted on : Friday , 30th December 2016

Coco-Cola to acquire stake in African beverages

The Coca-Cola Company has agreed to acquire Anheuser-Busch InBev’s 54.5% equity stake in Coca-Cola Beverages Africa for US$3.15 billion. CCBA includes the countries of South Africa, Namibia, Kenya, Uganda, Tanzania, Ethiopia, Mozambique, Ghana, Mayotte and Comoros. In addition, The Coca-Cola Company is to acquire AB InBev’s interest in bottling operations in Zambia, Zimbabwe, Botswana, Swaziland, Lesotho, El Salvador and.... Read more »

Posted on : Friday , 30th December 2016

Suzuki Swift - New details revealed

Details of the new fourth generation Suzuki Swift have been revealed, featuring new-look styling and a modernised interior. The Swift is the most popular model on offer from Suzuki in South Africa and it has racked up over 5.3 million global sales since its launch way back in 2004. Suzuki is well-known for building reliable and affordable cars and the current Swift model delivers good ride and handling while.... Read more »

Posted on : Friday , 30th December 2016

Kenya: Country to Get New Dam Through Public-Private Partnership

Water and Irrigation Cabinet Secretary Eugene Wamalwa on Wednesday said the government will build a Sh60 billion dam in Galana-Kulalu through a public-private partnership. The two-billion-cubic-metre dam would supply irrigation water for 500,000 acres to be launched in March 2017. Mr Wamalwa said local and international investors had been invited to take part in the project. "Despite challenges, the Galana-Kulalu.... Read more »

Posted on : Friday , 30th December 2016

Rwanda: Electrical Installations in Prisons Need to be Reviewed - Minister

The Minister for Disaster Management and Refugee Affairs, Seraphine Mukantabana, has asked prisons officials to review their electrical installations as a precaution against fire incidents. The minister was speaking, yesterday, after handing over an assortment of materials worth about Rwf4.5 million to inmates whose personal effects were burnt in Sunday's fire at Nyarugenge Prison. Mukantabana noted that some prisons are old.... Read more »

Posted on : Thursday , 29th December 2016

Tanzania: New Prices for Natural Gas to be Set

Tanzania will next week start setting indicative prices for natural gas to guide potential investors. Currently the prices of natural gas are negotiated between the buyer and the government-owned Tanzania Petroleum Development Corporation (TPDC), which is the seller. The Energy and Water Utilities Regulatory Authority (Ewura) is expected to announce the first list of the prices for 2017 by December 30. Ewura's director.... Read more »

Posted on : Thursday , 29th December 2016

Ethiopia: New Dam Doubles Country's Power Generation Output

In another otherwise difficult year filled with political turmoil, Ethiopia has scored one huge win by inaugurating the Gilgile Gibe III Hydroelectric Dam over the Omo River which almost doubles the country's power generation output. The Omo River Basin, located in the southwestern part of the country, is one of 11 basins. The Omo River valley is grown into full force from the steams and brooks of the mountains of Amhara. The Oromia.... Read more »

Posted on : Thursday , 29th December 2016

Ethiopia: Government Buys Fertilizer From Moroccan Firm

The Ethiopian Agricultural Business Corporation (EABC) said it has purchased 936,430 tonnes of fertilizer at a cost of 6.4 billion Br. Seventy pc of the purchased fertilizer was bought from OCP, a Moroccan based global market leader of phosphate and its derivatives. The fertilizer is being imported via the port of Djibouti and Port Sudan. "The importation of the fertilizers via Port Sudan will reduce the transportation cost and.... Read more »

Posted on : Thursday , 29th December 2016

Ethiopia: Local Farmers to Get Aid from U.S. Program

Feed the Future Ethiopia Commercial Farm Services Project is set to provide funding for 20 entrepreneurs and farmers' cooperative unions to open new farm service centers in Ethiopia's four major regions. Each recipient is to receive over one million Birr, to establish a farm service center in their area. Feed the Future is a U.S. supported global initiative to improve agricultural development and food security in 19 countries in need including.... Read more »

Posted on : Thursday , 29th December 2016

Ethiopia: Two Additional Dams Planned to Ease Water Shortage

The planned dams are part of GTP II. The Awash Basin Authority (ABA) plans to build two additional dams which could help prevent water shortage at the region that has over 18 million inhabitants. Authority Director General Getachew Gizaw said the dams, part of GTP II, would also help prevent flooding at the middle and lower Awash areas. Previously, three dams, namely Koka, Kesem and Tendaho were built on the 1,250 -kms.... Read more »

Posted on : Thursday , 29th December 2016

Ethiopia: Research Center Discovers New Crops, Animal Fodder Species

The new varieties could improve production and productivity. The Bako Agricultural Research Center announced that it has submitted its research findings of nine varieties of improved crops and animal fodder species to the National Species Endorsing Committee. Center Oil and Cereals Crops Team Leader Solomon Bekele said the species included three types of sesame, two species of millet and a pea. It took five years to finalize.... Read more »

Posted on : Thursday , 29th December 2016

Tanzania: Farmers Pocket Over $1 Million in Cashew Sales

Lindi — Cashew nut farmers from five villages in Lindi Region have pocketed 2.6bn/- from Mnolela Primary Society in the region after selling their produce in three auctions this year. An official of the society, Hassan Kongwa told reporters here yesterday that the farmers earned the money after selling 488 tonnes of raw cashew in the first auction, 120 tonnes in the second auction and 232 tonnes in the third auction. He.... Read more »

Posted on : Thursday , 29th December 2016

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