Market News Page No. 239| Africa Business News | Afrotrade

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Kenyan Bank Set to Enter Rwanda Financial Market

The National Bank of Rwanda is in the final stages of licensing a Kenyan bank, Commercial Bank of Africa (CBA), to operate in the country as a micro-finance institution. According to central bank governor John Rwangombwa, they are in the final stages of approving the bank's operations in the country. Following the licensing and clearance, the bank is likely to begin operations in 2017, further increasing the number of financial.... Read more »

Posted on : Monday , 2nd January 2017

Ethiopia: Synergy with International Agencies Ensuring Sustainable Development

Ethiopia is working closely with many trusted nations and international agencies as well as partners in various development activities aggressively. There are many agencies from across the world that are co-working with the country to support the ongoing development. This piece presents some contributions of three agencies in supporting the development endeavours the Ethiopian government has been undertaking. The significant.... Read more »

Posted on : Monday , 2nd January 2017

EAST AFRICA MOVING TOWARD MONETARY UNION

Five East African countries have joined forces with the aim of forming a single currency area by 2024. Since the project’s inception in 2000, Kenya, Uganda, Tanzania, Burundi, and Rwanda have been laying the groundwork for greater economic integration. Measures such as establishing a Customs Union has helped streamline border clearances, simplify work permit issuance, and ensure the recognition of professional agreements.... Read more »

Posted on : Monday , 2nd January 2017

EAST AFRICA: KPA to build the facility in the next six months in efforts to boost tourist earnings.

The Kenya Ports Authority (KPA) plans to upgrade Mombasa port into an ultramodern cruise complex with a lounge, restaurants, souvenir shops and reception counters at berths 1 and 2. TradeMark East Africa (TMEA) (TMEA) has teamed up with the KPA to build the facility in the next six months in efforts to boost tourist earnings. Tourism secretary Najib Balala said Mombasa’s favourable status as a cruise ships stopover.... Read more »

Posted on : Monday , 2nd January 2017

Ethiopia: Innovative Techniques Improving Agricultural Production, Productivity

Feed the Future Ethiopia Farm Service Center project is a three year initiative model developed by Cultivating New Frontiers in Agriculture (CNFA) to serve the inventory and technical needs of smallholder and medium sized farmers. The Farmer Service Center (FSC) model has been tested with high levels of success and community buy-in and currently developed as a working model in several countries across Africa and Eastern Europe. The FSC.... Read more »

Posted on : Monday , 2nd January 2017

Ethiopia: Mechanization of Agriculture Enhancing Productivity

It was Sunday. That day was chosen to visit wheat production yield found in northern part of Amhara State commonly named Ciyadeber and Weyo woredas. To reach there, it was mandatory to travel 46-kms gravel road from Debere Birhan Town. We arrived at the field in the mid-morning. The farm lands, in three kebeles, were covered with improved seeds multiplication. In some places, harvested and accumulated crops were clearly observed while most of.... Read more »

Posted on : Monday , 2nd January 2017

Ethiopia: Govt Working Aggressively to Expand Sugar Industry

It is six decade plus years ago since Ethiopia first acquainted with the sugar industry. Given the ample labor, market, water resource and the favorable climate condition for sugar development, the country has not been benefiting as to its potential. For long time, the number of sugar factories were limited to three and the total sugar production was not exceeding 300, 000 quintals annually. This has led the country for the importation.... Read more »

Posted on : Monday , 2nd January 2017

Ethiopia: Juniper Glass Gets Green Signal to Construct Greenfield Container Glass Factory Worth $70 Million

Juniper Glass announced that it has received all regulatory approvals necessary to conclude the final investments in its US$70 million greenfield container glass factory in Debre Birhan, Ethiopia. Juniper is working closely with leading global glass engineers and equipment suppliers to build a state-of-the-art factory, which will use the latest available technology in glass manufacturing. The new factory, which is under construction,.... Read more »

Posted on : Friday , 30th December 2016

African Startup Lighting Up Homes in Tanzania & Rwanda

Off Grid Electric, African startup is lighting up rural regions of Tanzania and Rwanda capitulating both commercial success and life-transforming outcome for the beneficiaries. The company is supported by Elon Musk’s SolarCity, one of the major solar energy suppliers in the US, and Helios, Africa’s biggest private equity firm. In November, at the UN’s climate change conference in Marrakech, it won the 2016.... Read more »

Posted on : Friday , 30th December 2016

Rwanda: Energy Utility Looks to Enhance Efficiency, Revenue Collection

The Energy Utility Corporation Limited (EUCL) has unveiled a new drive that seeks to increase access to electricity as well as boost efficiency and improve revenue collection. The performance improvement programme is part of efforts geared at transforming the utility firm into a "highly efficient and customer-centric" organisation, according to Jean Bosco Mugiraneza, the Rwanda Energy Group (REG) chief executive. He is.... Read more »

Posted on : Friday , 30th December 2016

Ethiopia: Mega Renewable Energy Projects to be Launched in 2017 - Ministry

The country is aggressively working to utilize its renewable energy. The Ministry of Water, Irrigation and Electricity recently announced it would launch mega renewable energy projects generating over 5,000 MW in 2017. Ministry Public Relations Director Bizuneh Tolcha said preparations have been finalized to begin the construction of 19 hydro-power, solar, wind and geothermal energy projects in Oromia, Amhara, SNNP, Tigray and.... Read more »

Posted on : Friday , 30th December 2016

Ethiopia: Parliament Approves Loan Deals With China for Infrastructure Projects

Addis Ababa — Ethiopia's parliament on Tuesday approved three loan agreements worth over 380 million U.S. dollars made with the Chinese government and the Export-Import Bank of China to finance major infrastructure constructions in Ethiopia. The three loan agreements already approved will finance two road construction projects in Ethiopia's capital Addis Ababa and upgrade the capital's electric grid system, according to Birhanu.... Read more »

Posted on : Friday , 30th December 2016

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