Market News Page No. 247| Africa Business News

Tanzania: Govt Plans Industrial Development Bank to Boost Investment

The government is planning to establish industrial development bank soon to speed up investment flow and loans for industrial development. Permanent Secretary (PS) in the Ministry of Industry, Trade and Investment, Dr Adelhelm Meru, revealed the above in Dar es Salaam yesterday during the official closing of the industrial exhibitions that took place at Dar es Salaam International Trade Fair (DITF) grounds along Kilwa Road. "The.... Read more »

Posted on : Tuesday , 13th December 2016

Rwanda: Invest in Agriculture to Boost Industrialization - AfDB President

African countries should invest more in agriculture and agro-processing to boost industrialisation on the continent, Akinwumi Adesina, the African Development Bank President (AfDB), has said. He noted that there is need for both governments and private sector bodies to partner and leverage the continent's resources to transform the sector amid the global economic recession. Adesina also urged governments on the continent to promote.... Read more »

Posted on : Monday , 12th December 2016

Tanzania's First Wind Farm Project to Take Off in May 2017

Singida Wind Power project, which is the first wind farm in Tanzania is expected to begin from May, next year, after negotiations for power purchase agreement between the developer and the government are concluded. The Managing Director of Six Telecoms, which is among partners to the project, Rashid Shamte told reporters in Dar es Salaam yesterday that the PPA negotiations with TANESCO, Ministry of Energy and Minerals and Attorney.... Read more »

Posted on : Monday , 12th December 2016

Kenya Power Prepares $2 Billion Budget for Upcoming Mega Projects

Electricity distributor Kenya Power has prepared a $2.17 billion (Sh219.1 billion) budget for the implementation of capital intensive projects in the next five years. The utility firm, in its blueprint, states that the funds will be used to adequately supply power to 10.8 million customers by 2021, more than double the 4.8 million clients currently connected to the national grid. Kenya Power's plan covers five key projects --.... Read more »

Posted on : Monday , 12th December 2016

Tanzania: World's Largest Solar Pumping Project to Aid Refugees

Dar es Salaam — At least 250,000 displaced Congolese and Burundians living in three refugee camps in Western Tanzania expect to benefit from a largest solar-powered water treatment project. According to a press statement, Water Mission and Poul Due Jensen Foundation (the Grundfos Foundation) are partnering to deliver safe and clean water to refugees coordinated by the Tanzanian Government and the United Nations High Commissioner.... Read more »

Posted on : Friday , 9th December 2016

Kenya: Solar Lights at Night Helping Locals With Increased Income

Embu — With solar lights in the market, farmers can grow by day and sell by night Violet Karimi spends her days as she always has, attending to household chores and working on her farm. But when the sun goes down, she now has a second job, thanks to the arrival of solar lights in this town in eastern Kenya. Each evening the widow leaves her three children studying at home by the light of a solar lantern and takes.... Read more »

Posted on : Friday , 9th December 2016

MOKKA X in SA market for pre-christmas unwrapping

Opel is stepping up its onslaught on the local compact SUV market with the pre-Christmas unwrapping of the latest version of its popular Mokka that has undergone a nifty make-over which includes a new uppercase name of MOKKA X. The jazzed up MOKKA X now brags with new daytime running LED headlight clusters, smart new upholstery and a high-end infotainment system with R4.0 IntelliLink and a driver display which is an optional extra on the.... Read more »

Posted on : Friday , 9th December 2016

Crops in Rwanda monitored by a drone

An aerial drone to monitor crops for Irish potato farmers in Northern Province was launched, yesterday, in Musanze District. The US Agency for International Development (USAID), through its Private Sector Driven Agricultural Growth Project (PSDAG), is partnering with AgriLift to pilot the drone-based crop monitoring technology. It will serve 2,000 potato farmers affiliated with 20 potato cooperatives in the Imbaraga Cooperative.... Read more »

Posted on : Friday , 9th December 2016

Kenya: Govt to Subsidize LPG for Promotion of Safe Energy

Kenya plans to subsidise the cost of cooking gas cylinders to promote safer sources of energy to households. The government says it intends to promote liquefied petroleum gas (LPG) as the preferred alternative source of energy for cooking, replacing kerosene, charcoal and firewood, which are used by 87 per cent of Kenyans. The Treasury has provided $200 million in this year's budget to roll out the subsidies and the Ministry of.... Read more »

Posted on : Thursday , 8th December 2016

Tanzania: African Relief Organisation To Invest Sh3 Billion For Irrigation Project

Dar es Salaam — The African Relief Organisation is investing Sh3 billion on the first phase of its irrigation project on the Rufiji Basin, the company announced yesterday. The organisation is discussing with the Rufiji Basin Development Authority (Rubada) to implement the project which is scheduled to start this farming season, according to the chairman for the organisation's board of trustees, Sheikh Abdallah Ndauga. The.... Read more »

Posted on : Thursday , 8th December 2016

Tea Auction to be automated in East Africa

The East Africa Tea Trade Association (EATTA) has signed a financing agreement with TradeMark East Africa (TMEA) that will enable automation of the tea auction in Mombasa. TMEA will provide financing of US$ 1.5 million. The automation is expected to reduce the tea trading cycle by about 65% from the current 45 – 60 days to less than one month. Reduced delays will ensure that farmers receive timely payments negating need.... Read more »

Posted on : Thursday , 8th December 2016

Top officials from Kenya and Uganda scheduled to sign Joint SGR Financing Pact In Beijing

IN SUMMARY Top officials from the two countries have already scheduled a trip to Beijing early next year. Kenya is seeking funds for the Naivasha to Malaba section of the SGR while Uganda plans to build the link to Kampala under a bilateral agreement signed between the two countries. Kenya and Uganda are set to sign a joint financing deal for building the second phase of the standard gauge railway (SGR). Top officials.... Read more »

Posted on : Thursday , 8th December 2016