Market News Page No. 271| Africa Business News | Afrotrade

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Kenya to raise revenue to 25pc of GDP from current 20pc

Kenya is eyeing to raise revenue to 25percent of Gross Domestic Product (GDP) from the current 20 percent in the next five years. Treasury Cabinet Secretary Henry Rotich says this will be through tax reforms especially the modernisation of income tax with the Bill expected to be ready in the first half of 2017. Rotich says other avenues of raising money will be targeting the informal sector as well as areas of transfer.... Read more »

Posted on : Wednesday , 26th October 2016

Kenya amis for early oil exports by 2017: minister

Kenyan finance minister Henry Rotich said Tuesday the initial exportation of 2,000 barrels of crude oil from Kenya in January 2017 would be an initial stage until the country completes the construction of an oil pipeline. "We plan to do an early oil export," the Cabinet Secretary told a news conference in Nairobi, during the launch of an International Monetary Fund (IMF) Regional Economic Outlook. "We will begin to.... Read more »

Posted on : Wednesday , 26th October 2016

Kenya shifts gears in drive to raise coffee exports into America

Kenya is pushing to increase its market share for coffee in the United States (US) as a means of improving the global visibility of the local commodity. The government through the Agriculture, Fisheries and Food Authority (AFA) Coffee Directorate on Tuesday said it is also targeting China, South Korea, Sweden, Norway, Denmark, Poland and Nigeria as emerging markets for the coffee. “Kenya has embarked on an.... Read more »

Posted on : Wednesday , 26th October 2016

Chinese Investment Into Africa Soars in 2016

China's investment into Africa continues to rise, with a significant increase so far in 2016 on last year's total, reports Simon Curtis. According to greenfield investment monitor fDi Markets, China-sourced capital expenditure into Africa has experienced a dramatic increase in 2016 from 2015 figures, with five months of data to record and publish remaining. Additionally, the number of investment projects into Africa up to July 2016 has.... Read more »

Posted on : Tuesday , 25th October 2016

At home in a luxury container

Well-designed shoebox living spaces are a growing trend globally. In Kenya, developers and architects are turning containers into small luxury residences, which can be repurposed into magical pool houses, offices or homes. Kwekwe Kivutha and Jeremy Moses are among those following in the steps of sustainable living with a repurposed 20-foot container that they turned into a living pod. Their desire to have a cabin in their.... Read more »

Posted on : Tuesday , 25th October 2016

Tanzania: Affordable Air Travel to Boost African Economic Growth

FASTJET Chief Executive Officer (CEO), Mr Nico Bezuidenhout has urged travel agencies to offer more affordable air travel so as to enable entrepreneurs, tourists and other visitors to travel within Africa and boosts the continent's economy. He said more affordable air travel enable movements of people within the continent and thus easier business transactions among people from different parts of the World. Mr Bezuidenhout said in.... Read more »

Posted on : Tuesday , 25th October 2016

Koyo to open PV panel factory in Tanzania

The Japanese company has revealed that it is setting up a subsidiary in the East African country, with plans for a solar panel assembly plant. It will officially open the subsidiary, Koyo Bussan Tanzania, in Dar es Salaam this week, according to an online statement. It did not reveal additional details about the PV module plant, but said that it is interested in the commercial and residential solar sectors..... Read more »

Posted on : Tuesday , 25th October 2016

Hydro Industries opens water plant for 82 African villages

Llangennech-based Hydro Industries officially opens a treatment plant, which it has designed and manufactured, in Sudan on Saturday. It will deliver 8.5 million litres of water to 82 villages every day. The opening coincides with the 10th anniversary celebrations of the Welsh Government's Wales for Africa programme. Wales for Africa was launched in response to the Make Poverty History campaign and encourages Welsh people and.... Read more »

Posted on : Tuesday , 25th October 2016

Huhtamaki PPL to set up plants for flexible packaging

Huhtamaki PPL Limited (formerly The Paper Products Ltd), a part of the Finland-based Huhtamaki group that provides consumer and specialty packaging solutions, plans to invest about Rs 65 crores for expansion and modernisation projects for its flexible packaging and labels businesses in the North East region. While the company will set up a flexible packaging plant in Assam, its subsidiary, Webtech Labels Pvt Ltd, will build a production.... Read more »

Posted on : Tuesday , 25th October 2016

Tanzania: NSSF All Set to Construct Modern Hospital in Dar

Arusha — The National Social Security Fund (NSSF) has unveiled a catalogue of major investments it plans to execute in the near future. But the fund says it is facing some challenges, which may affect the implementation of the investments, including high defaulters on loans and rent. The NSSF director general, Mr Godius Kahyarara, told the stakeholders' conference here last week that although this time around the.... Read more »

Posted on : Tuesday , 25th October 2016

The race for oil and gas in Africa

Africa is home to some of the world's fastest-growing economies, with many of them relying on oil for foreign exchange. It is estimated that 57 percent of Africa's export earnings come from hydrocarbons. Proven oil reserves have grown by almost 150 percent, increasing from 53.4 billion barrels since 1980, to 130.3 billion barrels by the end of 2012. The region is home to five of the top 30 oil-producing countries in.... Read more »

Posted on : Tuesday , 25th October 2016

The uptake of off-grid solar systems in Africa

In Africa 60 million people are using off grid solar panel systems for cheaper, cleaner and more reliable energy. According to statistics from IRENA, 10 per cent of the 600 million people living off-grid in Africa now use clean solar energy to power their homes. The decreasing prices of home solar panel systems in Africa have make this uptake possible - the cost for solar being lower than diesel and.... Read more »

Posted on : Tuesday , 25th October 2016

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