Market News Page No. 229| Africa Business News

East Africa: Green Energy Firms Look to Crowdfunding to Raise Funds for Expansion

Renewable energy companies in East Africa are now turning to crowdfunding to raise money for expansion. Firms that provide solar kits and modern cooking stoves -- such as Rubagabaga Run of River Hydropower Project in Rwanda, SimGas Kenya Ltd, Eco-Charcoal Ltd and Uganda's Eco Group Ltd -- are bypassing traditional financial intermediaries and turning to online crowdfunders. Crowdfunding involves the use of Internet and mobile.... Read more »

Posted on : Friday , 13th January 2017

Africa: Mauritania to Benefit From U.S.$21 Million IFAD Grant to Boost Food Security, Nutrition and Reduce Rural Poverty

Rome — A total of 285,600 farmers, particularly women and young people in six regions in southern Mauritania will benefit from a financial agreement signed today between the International Fund for Agricultural Development (IFAD) and Mauritania to improve their incomes, nutrition and food security. The agreement for the Inclusive Value Chain Development Project (PRODEFI) was signed in Rome by Michel Mordasini, Vice-President of IFAD.... Read more »

Posted on : Friday , 13th January 2017

Rwanda: Energy Regulator to Connect Low Income Consumers on Credit

The Government has devised a new plan that will see low income earners who already have cashpower meters but are unable to pay the subscription fee get access to electricity. The Managing Director of the Energy Utility Corporation Limited (EUCL), Eng. Jean-Claude Kalisa, said recently that the agency was already in the process of entering this category of potential subscribers into their system and promised that it should be complete by.... Read more »

Posted on : Friday , 13th January 2017

East Africa: Tanzania, Uganda to Hire Financial Adviser for Oil Pipeline Investment

Kampala — Uganda, Tanzania and French oil company Total E&P, the lead joint venture partner on the proposed crude oil export pipeline are considering getting on board a transactionary adviser to advise them on getting a lead investor and the $3.55b (Shs12.6 trillion) required for financing the project. A concept brief for the project issued by the ministry of Energy yesterday indicated that the parties are looking at before.... Read more »

Posted on : Friday , 13th January 2017

Kenya: Four Locomotives Arrive at Mombasa Port

Four locomotives and two Shatners (railway engines) arrived at the port of Mombasa on Monday as the Sh372 billion Standard Gauge Railway takes shape. Kenya Ports Authority managing director Catherine Mturi-Wairi received the cargo that arrived aboard MV Kota Bistari from the manufacturer, China Railway Rolling Stock. The locomotives have been brought into the country by the Chinese Engineering, Procurement and Construction Company and.... Read more »

Posted on : Thursday , 12th January 2017

Ethiopia: Addis Ababa-Djibouti Railway Officially Completed, Creating High Speed Link Between Djibouti and Ethiopia

The completion of the Addis Ababa-Djibouti Railway, a new 752km track linking Ethiopia's capital with the Port of Djibouti, was officially marked today at a ceremony at Nagad Railway Station in Djibouti. In the presence of Djibouti's President, His Excellency Ismail Omar Guelleh, and Ethiopia's Prime Minister, His Excellency Hailemariam Desalegn, and senior officials from across the region, the new railway linking Djibouti to Ethiopia was.... Read more »

Posted on : Thursday , 12th January 2017

Tanzania: Dr Shein Opens First Ever Milk Processing Factory

Zanzibar — President Ali Mohamed Shein has officially opened 'Zanzibar's only' milk processing factory named 'Azam Diary' expressing concern over low milk consumption in the islands. "People should be encouraged to drink milk. It is unfortunate that Zanzibar remains of the countries with lowest milk consumption. Let us change this trend," Dr Shein said here at the opening of the Azam Dairy Production Limited (ADPL). The.... Read more »

Posted on : Thursday , 12th January 2017

Rwanda: New Online Platform to Support Grain Farmers

Grain and cereal farmers in Rwanda will now be able to access regional market information, particularly prices and markets, thanks to an online platform unveiled by the Eastern Africa Grain Council (EAGC). The Regional Agricultural Trade Intelligence Network (RATIN) will help address the problem of poor access to market information among grain and cereal value chain actors in the country, Seth Kwizera, the EAGC country programme manager,.... Read more »

Posted on : Thursday , 12th January 2017

Volvo Launches New Excavator in Middle East and Africa

The EC140D comes with a Tier 2 engine and combines fuel efficiency, hydraulic performance, and operator comfort with wide attachment options Volvo CE has introduced its new excavator, the EC140D, to the Middle East and Africa market in the 12-16t weight class. The Swedish equipment giant said in a statement that the new machine is equipped with a Tier 2 compliant engine, which makes it suitable for the region. The model’s.... Read more »

Posted on : Wednesday , 11th January 2017

Ethiopia: As Hotel Industry Booms, Chefs in High Demand

Tirsit Mezemer, the executive chef at Kaleb Hotel, and her associates are running here and there in the spacious kitchen of the four star hotel. "If you have the passion, being a chef is a great profession," she proudly states. "The executive chef is not only a chief who commands his or her subordinates sitting at the top," she told Fortune. Executive chefs are the highest ranking chefs in the.... Read more »

Posted on : Wednesday , 11th January 2017

Ethiopia: Promoting Investment in Agriculture to Provide Stimulating Growth

For over two decades now the government has showed a commitment towards enhancing agricultural productivity through attracting investment on agriculture both from local and foreign stakeholders. Legal frameworks are crafted and institutions are established for the provision of land for investors and licensing. In addition, incentive provisions is also made a point. To attract investors the government offers incentives such as duty free.... Read more »

Posted on : Wednesday , 11th January 2017

Africa's First Electricity Producer Powered by Biogas

Naivasha — Using waste from vegetable and flower production, biogas is providing energy to Kenya's electricity network A commercial farm in Kenya has become Africa's first electricity producer powered by biogas to sell surplus electricity to the national grid, cutting the carbon emissions associated with oil-powered generation. The Gorge Farm Energy Park in Naivasha produces 2 megawatts (MW) of electricity - more than.... Read more »

Posted on : Wednesday , 11th January 2017