Market News Page No. 283| Africa Business News | Afrotrade

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Tanzania: Magufuli Inaugurates Fruit Processing Plant

President John Magufuli today inaugurated Bakhresa Food Products Ltd (BFPL) fruits and vegetables processing plant in Mwandege, Mkuranga, Coast Region. The state-of-the-art plant has the capacity to process 350 tonnes of fruits and vegetables daily. The president inaugurated the mangoes processing division, which is the second phase. The first phase produces soft drinks Azam Cola. The fruit juices processing plant is the.... Read more »

Posted on : Tuesday , 11th October 2016

South Africa basks in continent's first solar-powered airport

At first glance there's nothing out of the ordinary about the regional airport in George, a town of just 150,000 residents on South Africa's south coast. In fact though, the small site is Africa's first "green" airport to be powered by the sun. The control tower, escalators, check-in desks, baggage carousels, restaurants and ATMs—every service here depends on a small solar power station, located a few.... Read more »

Posted on : Tuesday , 11th October 2016

Tata strikes deal with South African car hire company

Automobile manufacturer Tata has struck a deal with a major South African car hire company to supply Tata Bolt 1.2 Turbo hatchbacks for its national rental fleet. Tata declined to disclose the exact number of vehicles, except to say that it was "a substantial number." The Bolt, which was recently introduced in South Africa, will be offered at a competitive hire charge which will be one of the.... Read more »

Posted on : Tuesday , 11th October 2016

Tanzania: Fresh Growth Figures Change Direction of Economic Debate

Dar es Salaam — Some experts hope that Tanzania will achieve a 7.2 per cent economic growth rate by the end of this year despite the fact that some of the government's decisions may deter the attainment of the goal. Figures produced by Finance and Planning minister Philip Mpango in June this year showed that last year, the economy grew by seven per cent and that this year, the target is to reach 7.2 per cent. Some.... Read more »

Posted on : Tuesday , 11th October 2016

Tanzania: Mindray Brings Hope to Medics in Tanzania

Beijing — Mindray Medical International Company, manufacturer of medical equipment, has a number of equipment in several hospitals. The Shenzhen based company supplied equipment to Aga Khan Hosptial, Hindu Mandal Hospital, Regency Medical Centre, Muhimbili National Hospital, TMJ, Sanitas Hospital, and some others. According to Mindray spokesperson Mr Jason Wang, the company resorted to technological.... Read more »

Posted on : Tuesday , 11th October 2016

Tanzania: Firm Discovers Graphite in Tanzania

Johannesburg — Investment company Armadale Capital has discovered high-grade coarse flake graphite mineralisation near surface at its Mahenge Liandu project, in Tanzania. The reverse circulation (RC) drilling undertaken to date has intersected wide intervals of high-grade graphite mineralisation. Mineralised graphitic schists with widths of between 40m and 65m have been intersected in multiple holes. This discovery.... Read more »

Posted on : Tuesday , 11th October 2016

State to upgrade crude oil refi nery for exports

The government plans to spend up to Sh1.5 billion to modify the dormant petroleum refinery in Mombasa to handle waxy crude oil from Lokichar Basin for export from next June. Petroleum Principal Secretary Andrew Kamau on Friday said the cash will be used to instal heating equipment among other things at the Kenya Petroleum Refineries, which has been idle since September 2013. This was after India’s Essar Energy fell.... Read more »

Posted on : Tuesday , 11th October 2016

UK and Kenya push onward with green power

Kenyan energy firms have met with British investors to secure investment in the growing renewables sector. The UK-Kenya Renewable Energy Conference in Nairobi hosted around 100 company representatives from both countries to help accelerate the availability of affordable power. It follows the Memorandum of Understanding signed by the governments in May, which saw the UK commit 70 billion Kenyan Shillings (£559m) to.... Read more »

Posted on : Tuesday , 11th October 2016

HFDI to put up Sh5bn estate in Thika Road�s Clay City

The apartments will be built at the former Clay Works off Thika Road in a joint venture with Clay Works Limited which owns the land. The project will sit on 24.5 acres and will be built in three phases. Phase one will be set on 8.6 acres, Phase two on 10.5 acres and Phase three on 5.4 acres. James Karanja, the Executive Director of HFDI, the property development and investment subsidiary of HF Group, said the two bedroom.... Read more »

Posted on : Tuesday , 11th October 2016

Africa: Ethiopia-Djibouti Railway Lifts China's Efforts in Africa's Rail Network

Nairobi — The launch of the Chinese-built Ethiopia-Djibouti railway has shown China's special position in the modernization of Africa's infrastructure, Kenyan scholars said Saturday. "The launching of the Ethiopia-Djibouti standard gauge railway line is expected to spur similar efforts of Africa to link the continent more effectively with an efficient railway transport network, which could be what Africa needs for close.... Read more »

Posted on : Tuesday , 11th October 2016

Tanzania secures $259 mln funding for power grid link with Kenya

Tanzania has secured $258.82 million from the African Development Bank and the Japan International Cooperation Agency for a high voltage electricity line to connect its national power grid to Kenya's, its power utility said on Sunday. The 400 kilovolt (kV) line will be completed within two years and is part of efforts to deepen integration between the two countries' economies, Tanzania's TANESCO said in a statement on its website. Kenya.... Read more »

Posted on : Tuesday , 11th October 2016

Increased consumer spending in Africa attracts Gulf investors

Africa's strong economic fundamentals and investment opportunities has attracted Gulf region investors who now want to tap into increased consumption. During this year's ALN Annual International Conference in Dubai, over 300 investors gathered under the theme 'Africa: Bridging the Gulf" offering them an insight into Africa's high-performing sectors. In the two-day event, in which a report by McKinsey & Co tipped.... Read more »

Posted on : Tuesday , 11th October 2016

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