Market News Page No. 305| Africa Business News | Afrotrade

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N e w s

SA still best bet for car makers

FOREIGN motor companies planning to build vehicles in sub-Saharan Africa would be taking huge risks looking beyond SA, according to Jimmy Dando, regional head of sales and operations for Japanese manufacturer Nissan. Most companies that had set up operations in other countries on the continent had been forced to either cut back drastically on planned production or mothball assembly plants, Dando said. SA, despite a fall in.... Read more »

Posted on : Wednesday , 31st August 2016

Growth in vehicle sales drives Super results

SUPER Group, which dubs itself a "transport logistics and mobility group", bucked the trend in South African vehicle sales, reporting a "solid set of results" for the year to the end of June. CEO Peter Mountford said on Monday that South African market conditions were expected to remain challenging and competitive. But that did not stop new vehicle sales by its dealerships from jumping 6.8%, as National.... Read more »

Posted on : Wednesday , 31st August 2016

Kenya Power Rolls Out Sh22 Billion Plan to Tame Outages

Kenya Power will spend Sh22 billion to modernise electricity grid as a growing number of connections puts pressure on the current network. After three national outages in 2016, and a rising concern over the quality of power supply, the utility provider will now create an alternative network to take over when the current lines become faulty, effectively minimising blackouts. Dubbed the 2016-20121 Grid Development and.... Read more »

Posted on : Wednesday , 31st August 2016

Kenya: KNCHR Urges Taita Taveta County Government to Protect Mining Firms

The Kenya National Commission on Human Rights (KNCHR) has urged the Taita Taveta County government to protect investors in the mining sector following numerous conflicts with locals. Addressing county government leaders in Mwatate, Taita Taveta County Monday, KNCHR chairperson Kagwiria Mbogori noted that some investors are counting loses due to the unending conflicts. Ms Mbogori was speaking at Mwatate CDF hall during the.... Read more »

Posted on : Wednesday , 31st August 2016

International Tanzanite Auction Generate USD3.5m

The First International Tender Auction for rough and cut Tanzanite organized by the Government of Tanzania generated almost USD3.5m. The auction was held in Arusha, northern Tanzania, on August 9th–12th 2016. A total of 330,553.17 grams of rough and 3,274.70 carats of cut Tanzanite was brought for sale by 5 Tanzanite mining companies: Tanzaniteone Mining Company Ltd, Franone Mining and Gems Company, Tanzanite Africa Ltd, Chusa.... Read more »

Posted on : Wednesday , 31st August 2016

Tanzania to sign 400MW power purchase deal with Ethiopia

Tanzanian authorities said on Saturday that the country will sign a 400 megawatts power purchase agreement with Ethiopia in the coming weeks. Felchesmi Mramba, Managing Director of state-owned Tanzania Electric Supply Company, said the official signing of the power pact will be preceded by a meeting in Arusha of 10 member states of the Eastern Africa Power Pool. Countries forming the Eastern Africa Power Pool are Kenya,.... Read more »

Posted on : Wednesday , 31st August 2016

Kenya: New KCC Plan to Stabilise Prices of Milk, Boost Farmers

In 2009, many dairy farmers incurred huge losses due to an unprecedented milk glut. Processors were unable to handle all the milk that was being supplied, and this led to prices tumbling down. The government learnt an important lesson and formed the Strategic Food Reserve that would include buying of milk for the first time. The Strategic Grain Reserve until then only stored cereals. Apart from seeking ways to address the.... Read more »

Posted on : Wednesday , 31st August 2016

East Africa: Exim Bank Tanzania Assets Top U.S.$3 Billion

Dar es Salaam — Exim Bank (Tanzania) total assets were at $3.3 billion by June 2016 as the bank celebrated its 19 years of doing business. It started operations on August 15, 1997 and this year management has launched new products to harness its client's trust while also adding to the asset base. Selemani Ponda, the Tanzania Chief Finance Officer said last week, the bank has built a strong and well-diversified.... Read more »

Posted on : Wednesday , 31st August 2016

Tanzania-China Enterprises Unlock Huge Agriculture Potentials

Tanzania could capitalise on food crisis striking most African countries, an initiative that would boost its foreign exchange earnings. The abundant agriculture land resources give the country enormous development potentials that through use of modern technologies could transform farming activities and lead to improved living standards. The Chinese Ambassador to Tanzania, Mr Lv Youqing, said in Dar es Salaam last week.... Read more »

Posted on : Wednesday , 31st August 2016

Tanzania: PM to Japanese Firms - Invest in Tanzania, We'll Support You Fully

Nairobi — Prime Minister Kassim Majaliwa has urged Japanese companies to invest in Tanzania to strengthen Nipon-Tanzania economic relations. In separate talks he held with chief executive officers of various Japanese firms here on Sunday on the sidelines of the TICAD IV meeting, Mr Majaliwa assured existing and potential Japanese investors of government co-operation. He advised them to, at least, send teams to scout.... Read more »

Posted on : Wednesday , 31st August 2016

Rwanda: Rwf58 Billion Earmarked for Kigali Urban Road Upgrades

A total of 51.5 kilometer road network is set to be upgraded in the City of Kigali at a cost of Rwf58.2 billion courtesy of the Export-Import Bank of Chaina. The draft law for the ratification of the loan agreement signed in Beijing, for the Yuan 488m, was approved by a recent Cabinet meeting. The agreement was signed between the Rwandan government and the Export-Import Bank of China for Kigali Urban Road Upgrading.... Read more »

Posted on : Wednesday , 31st August 2016

Ethiopian dam study contracts to be signed in Sept: Egypti's foreign ministry

The contracts with two consulting firms to carry out technical studies into the impact of Ethiopia's Grand Renaissance Dam will be signed on 5 and 6 September, Egypt's foreign ministry said on Tuesday. In a meeting with reporters, Ahmed Abu Zeid said that the irrigation ministers of Egypt, Sudan and Ethiopia will attend the contract signing in Sudan. The three countries agreed in 2015 that two French firms, Artelia and BRL, would.... Read more »

Posted on : Wednesday , 31st August 2016

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