Market News Page No. 303| Africa Business News | Afrotrade

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South Africa car makers, union sign 3-year wage deal

Car makers in South Africa signed a new three-year wage deal with militant union Numsa on Friday, industry officials said, easing concerns of a labour dispute in a key export and manufacturing industry. South Africa's local motor industry, the largest in the continent with hubs in the capital Pretoria and Port Elizabeth, contributes 7.5 percent to GDP and around a third of the manufacturing output in Africa's most industrialised.... Read more »

Posted on : Monday , 12th September 2016

Solar power company in Sh2 billion expansion plan

The UK-headquartered off-grid power provider Bboxx has announced a Sh2 billion investment to connect additional 150, 000 residents of five counties with home solar systems in part of efforts to boost uptake of the clean energy. The venture capital-backed company has already lit 9,000 households in Kenya. Residents of Siaya, Kakamega, Kisumu, Vihiga and Bungoma counties will now enjoy up to 50 kilowatt hours (KWH) of electricity in.... Read more »

Posted on : Monday , 12th September 2016

SOLAR NANOGRID KICKS OFF IN AFRICA, PLANS FOR GLOBAL EXPANSION

Villagers in Lemolo B and Echareria in Nakuru County, Kenya recently became the launch pad of a new type of electricity distribution model that could benefit hundreds of thousands of people worldwide. The two communities are pioneering an initiative providing clean, affordable and reliable energy where a central solar hub provides both commercial energy for new village enterprises and household energy using upcycled laptop.... Read more »

Posted on : Monday , 12th September 2016

Oil & Gas: Kenya finalises agreement for development of crude oil pipeline

Kenya has finalised an agreement with oil explorer Tullow Oil and its partners Africa Oil and A.P. Moller-Maersk for the development of a crude oil pipeline, as it bids to become an oil exporter, the president's office said. Tullow and Africa Oil first struck oil in the Lokichar Basin in the country's northwest in 2012. The recoverable reserves are an estimated 750 million barrels of crude. The two firms were 50-50 partners.... Read more »

Posted on : Monday , 12th September 2016

Nairobi County receives a mobile clinic under the Beyond Zero Campaign

The Cabinet Secretary for Health, Dr. Cleopa Mailu has hailed the Beyond Zero campaign for catalyzing positive changes on the faces of Kenyan mothers and children. Speaking during the handover of the 47th Mobile Clinic to Nairobi County by H.E the First Lady Margaret Kenyatta today at State House, the CS disclosed that over 5,000 Kenyans have benefited from Beyond Zero clinics across all the Counties. ‘’These clients.... Read more »

Posted on : Monday , 12th September 2016

Tanzania Exports Increase by 8.4% in Year Ending June 2016

The Bank of Tanzania (BOT) Monthly Economic Review for July 2016 shows that the value of export of goods and services in the year ending June 2016, increased by +8.4%. Overall exports reached USD10,096.9m, compared to USD9,310.6m in the year ending June 2015. The improvement was mainly driven by an increase in travel (tourism) receipts, manufactured goods, and gold. Travel maintained the leading position among foreign currency earners,.... Read more »

Posted on : Monday , 12th September 2016

Tanzania: TCCIA Calls On Govt to Invest Heavily to Boost Industries

Dar es Salaam — This was a message from key industry stakeholders on Thursday during a press conference organised by the Tanzania Chamber of Commerce, Industries and Agriculture (TCCIA). TCCIA warned the government that a blanket cost-cutting drive would prove counterproductive in the long run. "If the government spends more, it will also be in a better position to collect more revenue, there is a huge chance for return.... Read more »

Posted on : Monday , 12th September 2016

Tanzania on track to reach 7.2 pct growth target: central bank

Tanzania is on track to reach its economic growth target of 7.2 percent this year, the east African nation's central bank said Friday. The expected growth conflicts claims by some opposition members of parliament that the economy was headed for a recession. "Based on various indicators and trends, it is evident that Tanzania's economy is in good shape, raising hopes of reaching the target of achieving an annual gross.... Read more »

Posted on : Monday , 12th September 2016

Tanzania's gas-rich southern regions to join national electricity grid

The government of Tanzania said on Saturday it will connect the country's gas-rich southern regions of Mtwara and Lindi to the national electricity grid. Sospeter Muhongo, the east African nation's Minister for Energy and Minerals, told Parliament in the political capital Dodoma that the Tanzania Electric Supply Company (TANESCO) has started building a 132 KV transmission line. The two regions currently get electricity.... Read more »

Posted on : Monday , 12th September 2016

Kenya: Work Begins on Road Linking Malindi to Tsavo East Park

Construction of a road linking Malindi to the Tsavo East National Park has finally started. The tarmacking of road will ease travel via the Nairobi-Voi-Malindi route and boost tourism. President Uhuru Kenyatta and his deputy William Ruto had promised that the road will be tarmacked when they toured the area during the Malindi by-elections in March this year. President Kenyatta last Friday told residents at.... Read more »

Posted on : Monday , 12th September 2016

Kenya to adopt global auditing standards to attract investors

Kenya plans to adopt international financial auditing standards in order to boost the country’s attractiveness to foreign investors, accountancy regulator said on Thursday. Institute of Certified Public Accountants of Kenya (ICPAK) CEO Patrick Ngumi told a finance forum in Nairobi that all publicly listed companies will be required to implement the standards after January 2017. However, those companies whose.... Read more »

Posted on : Monday , 12th September 2016

Magnis Resources Ltd produces high quality graphite from Tanzania

Magnis Resources Ltd (ASX:MNS) has demonstrated the use of flake concentrate from the Nachu Graphite Project in Tanzania for the production of spherical graphite for lithium ion batteries. The company used milling equipment in Europe to process flake concentrate produced from composite diamond drill core to ensure a representative sample of the ore body. Importantly, no chemical or thermal purification was used in the.... Read more »

Posted on : Monday , 12th September 2016

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