Market News Page No. 273| Africa Business News | Afrotrade

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$69.5 billion streetlight market the next step in Internet of Things investment

Cities and municipalities are projected to transition to LED streetlights which will reach a penetration rate of 89% by 2026. They will also network 42% of the streetlights to make them “smart” over the course of the next decade. Out of the $69.5 billion mark, $57 billion will be for LED streetlights and $12.6 billion for “smart” networked streetlights. With the utility sector with smart grid deployments.... Read more »

Posted on : Wednesday , 26th October 2016

A strong third quarter for Acacia mining

Tanzanian based gold miner, Acacia, has had a 2016 to remember with the announcement of another strong performance in its third quarter. Shares in the company jumped more than 9pc to £5.15 in early trade, with a 25pc leap in gold production year on year. Running at the same time, the miner’s cash costs per ounce fell by 26pc. So yeah, a strong year indeed for Acacia. To put it into official numbers,.... Read more »

Posted on : Wednesday , 26th October 2016

China to Construct 96km Power Line from Kenya to Tanzania

Kenya recently signed a contract with the North China Power Engineering (NCPE) company for the construction of a 96km power line from Isinya in Kenya to the Namanga border with Tanzania. This is part of the Kenya-Tanzania interconnector project, which involves the construction of about 510km transmission line from Kenya to Tanzania. “With a capacity to transfer 2,000MW in either direction, the interconnector will have positive.... Read more »

Posted on : Wednesday , 26th October 2016

Wind, Solar Almost Half The Cost Of New Coal Generators In South Africa

The cost of wind and solar energy has fallen so dramatically that wind and solar plants can now be built in South Africa at nearly half the cost of new coal, according to the country’s principal research organisation. A presentation from the energy division of the Centre for Scientific and Industrial Research (CSIR, that country’s equivalent of Australia’s own CSIRO) illustrates the dramatic different in costs,.... Read more »

Posted on : Wednesday , 26th October 2016

Kenya: Construction of Sh90 Million Lamu ECDE Centres Complete

The county government of Lamu has completed the construction of 45 Early Childhood Education (ECDE) centres in both Lamu West and East Sub-Counties at a cost of Sh90 million. Lamu Governor Issa Timamy says the move is meant to raise standards of education in the region by ensuring children's learning environment is improved. Speaking in Lamu on Friday, Mr Timamy said construction of 11 more ECDE centres will be completed.... Read more »

Posted on : Wednesday , 26th October 2016

South Africa recycles more plastic bottles than it throws away

New statistics from recycling company Petco have revealed that more polyethylene terephthalate (PET) bottles are being recycled than are sent to landfill, with about 4.7-million bottles recycled every day. This resulted in 112 000 t of carbon emissions, as well as 461 000 m3 of landfill space, being saved. Noting that South Africa was winning the battle of recycling plastic bottles, the company said 52% of post-consumer PET.... Read more »

Posted on : Wednesday , 26th October 2016

Ethiopia: Advancing Health Achievements

The ever green Southern Nations, Nationalities and Peoples' State is one of the best places to live in Ethiopia. Recently a crew of journalists has paid a visit to Gurage Zone located in this beautiful State. Early in the morning last Tuesday, the crew begun their journey from southern town, Hawassa. After leaving Ez'za Woreda behind, and crossing Zebidar Mountain, we entered Agena Health Centre of Ez'za Woreda. Immediately, we directly.... Read more »

Posted on : Wednesday , 26th October 2016

Tanzania: Moroccan Investors Invited in Key Sectors

Minister for Industries, Trade and Investments, Mr Charles Mwijage has called Moroccan investors to direct their capital in agriculture and development of industries in the country. Mr Mwijage was speaking amid the ongoing three-day state visit of Moroccan King, Mohamed VI in the country. He said his visit to Tanzania is set to boost bilateral investment and strengthen economies of the two countries. Mr Mwijage said the.... Read more »

Posted on : Wednesday , 26th October 2016

VW, BMW, Ford, Nissan seek Africa car-industry fixes

Volkswagen, BMW, Ford and Nissan are among automakers seeking to work with Kenyan authorities to develop an auto-manufacturing industry in the east African country, building on talks with Nigerian lawmakers about their own market. The African Association of Automotive Manufacturers, which also includes Toyota Motor Corp. and General Motors, has formed to take advantage of a new surge of interest from African governments in.... Read more »

Posted on : Wednesday , 26th October 2016

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

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