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

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Tanzania: Sido Set for Reforms As Industrialisation Agenda Gains Pace

Dar es Salaam — The Small Industries Development Organisation (Sido) is planning to transform itself into a giant institution that capable of providing technological, training and financial support for small and medium entrepreneurs (SMEs) under one roof. The move is aimed at stimulating the growth of the industrial sector in line with the government's goal to turn Tanzania into a semi-industrialised nation in the coming.... Read more »

Posted on : Tuesday , 4th October 2016

Tanzania: Isles to Engage Honest Oil Explorers

Zanzibar — The two-week Zanzibar House of Representatives session has ended here with the government promising to be careful in issuing international tenders for oil companies to explore for oil and gas. Moving a motion to adjourn the session to November 23, this year, the Second Vice- President, Ambassador Seif Ali Iddi, said: "We will be careful in entering contracts with companies interested in exploring for oil and.... Read more »

Posted on : Tuesday , 4th October 2016

Kenya-Israel strike deal to boost local innovation

Israel has entered a joint ventures deal that will give Kenyan start-ups, innovators and entrepreneurs access to acceleration and skills training. The agreement was signed last week in Tel Aviv, Israel, by Konza Technopolis Development Authority (KoTDA) CEO John Tanui and Tel Aviv Global CEO Eytan Schwartz. Mr Tanui said the partnership would enhance the innovation ecosystem by creating opportunities for joint ventures between.... Read more »

Posted on : Tuesday , 4th October 2016

Tanzania: Coffee and Flower Growers Turn to Organic Farming

Moshi — Coffee and flower growers seem to be ready to embrace organic farming and give up conventional agricultural practices that use synthetic pesticides and watersoluble synthetically purified fertilizers. This comes after decades of conventional agriculture that has seen coffee production, the typical cash crop in Kilimanjaro and Arusha regions drop in quality as well as quantity. Kilimanjaro growers underwent.... Read more »

Posted on : Tuesday , 4th October 2016

Egbin Power Plc set to expand into Tanzania

Nigerian Energy company, Egbin Power Plc, is expanding and set to mark its new territory in Tanzania, by constructing a natural gas-fired power plant, Tanzania Daily News reports. Speaking to Tanzanian journalists, the firm’s Chief Executive Officer, Mr Dallas Peavey, said the construction of the plant is expected to commence anytime after the company, under Sahara Group, has inked the investment pact with the host.... Read more »

Posted on : Tuesday , 4th October 2016

President Uhuru Kenyatta to launch second phase of SGR construction

President Uhuru Kenyatta is set to launch construction of the second phase of the Standard Gauge Railway (SGR) in a fortnight even as Kenyans demand for a bigger stake in the project. The planned launch of the new phase, from Nairobi to Naivasha, comes at a time when there is growing discontent, especially from the youth that the Chinese are taking up jobs meant for locals. During yesterday's Youth Summit at State House,.... Read more »

Posted on : Tuesday , 4th October 2016

Kenya: County to Build Sh280 Million Stadium to Boost Growth

Thara-Nithi county government is set to construct a stadium that will cost Sh280 million in efforts to promote growth. Chuka/Igambang'ombe MP Muthomi Njuki said the facility, which is one of five mini-stadiums to be constructed in the county, will boost the economy. He said youths will also benefit by being hired to carry out construction work. "The work will create job opportunities for many people.... Read more »

Posted on : Tuesday , 4th October 2016

Ethiopia Set to Gain Transport Lifeline to Sea with New $4 Billion Railway

Construction of a Chinese-funded electric railway, linking Ethiopia’s capital along its main trading route to neighboring Djibouti, has been completed, providing the African nation with much-needed improved rail access to a seaport. The $4 billion project, implemented by China Railway Engineering Corp. and China Civil Engineering Construction Corp. will be commissioned next month. The government is pinning its hopes.... Read more »

Posted on : Monday , 3rd October 2016

Tanzania: Nigerian Firm Eyes 1.4trn/ - Power Project in Dar

Nigerian company, Egbin Power Plc, has expressed interest to invest 630 million US Dollars (about 1.4trn/-) in construction of a natural gasfired power plant in Tanzania. The major boost to the country's power generation is the newest public-private partnership project expected to turn around the energy sector in the East African nation. Speaking to Tanzanian journalists on a five-day tour of Nigeria yesterday, the firm's Chief.... Read more »

Posted on : Monday , 3rd October 2016

Kenya: Geothermal Development's Turn to Profit Tilts Energy Mix

The Geothermal Development Company (GDC) broke the loss making streak to post Sh1.6 billion net profit in the full year ending June 2015 after inking a deal to sell steam from its Olkaria wells to the government. The State-owned firm generated its first revenue of Sh2.5 billion in the period under review being earnings from sale of underground steam to the Kenya Electricity Generating (KenGen) Co to produce geothermal power. GDC sold.... Read more »

Posted on : Monday , 3rd October 2016

Africa gold reserves now worth $1.5 TRILLION

A new report by SNL Metals and Mining shows Africa at the top of tables when it comes to the value of gold still in the ground. Using the combined value of reserves and resources reported by explorers and mining companies active on the continent, the research company, calculated a figure of $1.48 trillion for primary gold projects. Canada and the US came in second with gold in situ values as at September 8 of $1.26.... Read more »

Posted on : Monday , 3rd October 2016

Woodlands launches biofuel boiler

WOODLANDS Dairy, the producers of First Choice dairy products in the Eastern Cape, launched the first-ever Biofuel Boiler in the South African diary industry on Tuesday - a R30 million capital investment. The boiler’s primary fuel is biomass in the form of sustainable wood chips proposed and provided by MTO Forestry. The partnership with Woodlands Dairy allowed the installation of the Green Bio-Mass fuelled boiler system.... Read more »

Posted on : Monday , 3rd October 2016

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