Market News Page No. 242| Africa Business News | Afrotrade

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Tanzania: Mining Firm Pays Govt $5.8 Million in Taxes

Petra Diamonds has paid 5.8 million US dollars (about 12bn/-) to Tanzania in various taxes making the country the highest paid in nations where the firm operates. The diamond firm, registered in London Stock Exchange, made a total payment of 8.9 million US dollars (18bn/-), where Tanzania payments account for 66 per cent, South Africa 32 per cent and Netherlands 2 per cent. The company has operations in six countries but main.... Read more »

Posted on : Wednesday , 28th December 2016

How Will Trump Impact East Africa's Industrialisation Drive?

The global mood has shifted since Donald Trump’s surprise victory in the US presidential election. Europeans are fretful and Mexicans are panicking but many of the US investors we met in mid-November have become intensely optimistic about the prospects for their own economy. No one is quite sure whether this will benefit emerging markets or not and many Trump supporters probably don’t care. Their vote was to make America great again,.... Read more »

Posted on : Wednesday , 28th December 2016

Transform Agriculture in Africa by AFDB

97 percent of the Bank's agriculture projects rated satisfactory. 4000 kilometers of feeder roads built; three million people trained on farming practices 150,000 microcredit loans, water systems on 181,000 hectares of farmland By 2025, Africa aims to feed its fast growing population with its own production. What is more, the world will need Africa's help to feed an extra two billion people in the coming generation. So making the right.... Read more »

Posted on : Tuesday , 27th December 2016

Ethiopia: 'We Continue Developing Renewable Energy Sources' - PM

Ethiopia is highly endowed with electric power potential that can be developed from water, solar and geothermal. Realizing the potential, the nation has been investing a great deal to cultivate the energy sources from wind, water bodies and the like. In relation to the efforts undertaken so far, the country has increased significantly its power generation capacity since Gibe III Hydroelectric Dam began functioning. This highest Roller.... Read more »

Posted on : Friday , 23rd December 2016

Kenya to Use Bio-Control to Combat Crop Affecting Fungus

Kenya will this month start manufacturing bio-control product Aflasafe KE01 to tackle aflatoxin. The country has previously lost food stocks and lives to aflatoxin - tasteless poisons produced by Aspergillus flavus fungus, a mold in the soil that commonly infects maize, groundnuts and other crops both in the field and in storage. Aflatoxin affects livestock and their products when the animals feed on infected grains or grass.... Read more »

Posted on : Friday , 23rd December 2016

Tanzania: Plenty of Gypsum Available - Minister

Lindi — Minister for Energy and Minerals, Prof Sospeter Muhongo, has ordered the commissioner of minerals, gypsum miners and owners of industries to resolve their differences and make sure they agree on payment and prices so as to boost the gypsum mining business in the country. Prof Muhongo was speaking after visiting Mkanganga gypsum mines, which are located at Hoteli Tatu in Kilwa District, Lindi Region. He said there is no.... Read more »

Posted on : Friday , 23rd December 2016

East Africa: Tanzania, Malawi Ink 180MW Joint Power Deal

Mbeya — Tanzania and Malawi are expecting to implement a joint 180-megawatt electricity project that will enable each country to produce 90mw. The two countries also expect to implement another joint project on irrigation where a total of 600 hectares will be developed, with 3000 farms in each country. The implementation of the projects follow agreement over development for Songwe River Basin (SRBDP), signed by the.... Read more »

Posted on : Friday , 23rd December 2016

Tanzania: Negotiations on $30 Billion Gas Plant Set to Resume in 2017

Dar es Salaam — Major oil and gas companies are now planning to resume negotiations with the government on a production sharing agreement (PSA) next year for the planned liquefied natural gas (LNG) plant. BG Group which was acquired by Royal Dutch Shell, alongside Statoil, Exxon Mobil and Ophir Energy, plan to build a $30 billion (Sh66 trillion) onshore LNG export terminal in partnership with the state-run Tanzania Petroleum.... Read more »

Posted on : Friday , 23rd December 2016

Rwanda: Germany Injects �32.5 Million into Energy Sector

Efforts to boost power generation are set to receive timely support thanks to Germany's commitment to invest €32.5million, about Rwf30 billion into the sector. The funding, according to Ronald Nkusi, the director of external finances at Ministry of Finance and Economic Planning, will help in the refurbishment and privatisation of the hydropower stations Rusizi I und Rusizi II at the border between Rwanda, Burundi and the DR.... Read more »

Posted on : Friday , 23rd December 2016

Rwanda: EU Releases �10 Million for Rural Roads Refurbishment

European Union Commission has transferred the final €10 million disbursement of the €40 million grant for construction of 200 kilometer feeder roads in rural areas to support agriculture activities. The funding agreement for the total grant was signed back in 2013 for the refurbishment of 700 kilometers of road network. According to officials, most of the roads were rehabilitated, leaving only 200 kilometers to be.... Read more »

Posted on : Friday , 23rd December 2016

Ranger beats Hilux to win pick-up of the year award

The Ford Ranger was crowned the 2016 Pick-up of the Year by the Nigeria Auto Journalists Association (NAJA), reinforcing its status as a segment-defining model in the highly competitive light commercial vehicle sector. The Ranger beat the Toyota Hilux and Mitsubishi L200 pickup for the coveted award. The award, which was accepted by the marketing team of Coscharis Motors, the sole authorised Ford dealer in Nigeria,at the prestigious NAJA.... Read more »

Posted on : Friday , 23rd December 2016

Renault Kwid to be Exported From India to South Africa

French auto major Renault will start exporting its small car Kwid to South Africa, Bhutan and Bangladesh from India next year as it prepares to take the popular hatchback to various global markets. The company, which launched the car in India with 98 per cent localisation in 2015, has already started exporting the hatchback to Sri Lanka, Nepal and Mauritius. "We started exports of Kwid with Sri Lanka, followed by Nepal and now we are.... Read more »

Posted on : Friday , 23rd December 2016

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