Market News Page No. 314| Africa Business News | Afrotrade

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Tanzania: Govt to Pick Contractor for Sh16 Trillion Railway Line Project

Dar es Salaam — The Ministry of Works, Transport and Communication is currently in the process of procuring a contractor for the construction of the standard gauge railway line run from Dar es Salaam to Kigoma and Mwanza. This comes just weeks after Tanzania signed a $7.6 billion (about Sh16 trillion) loan agreement with the Export-Import (Exim) Bank of China for upgrading the railway line. Transport permanent.... Read more »

Posted on : Friday , 2nd September 2016

Rwanda: BBOXX Secures U.S$20 Million Funding to Expand Solar Off-Grid Connectivity

BBOXX, a leading global off-grid solar company, successfully closed a $20 million Series C investment on 30 August. The company has pioneered a distributed energy platform, comprising data-driven technology and a unique solar home system design to deliver off-grid energy on a utility scale. Since 2010, BBOXX has provided off-grid electricity to more than 350,000 people in 35 countries around the world. This latest round of.... Read more »

Posted on : Friday , 2nd September 2016

Tanzanian Royalty Announces $5 Million Financing for Mining Development

Tanzanian Royalty Exploration Corporation (TNX)(nyse mkt:TRX) (the "Company") is pleased to announce that it has closed the first tranche of a $5 Million private placement of securities with Crede CG III, Ltd, a wholly-owned subsidiary of Crede Capital Group, LLC, a long-only family office that invests in emerging growth companies. Funds will be used by the Company's to expand its production team necessary to bolster development.... Read more »

Posted on : Friday , 2nd September 2016

Tullow set to resume oil exploration in Baringo

Tullow Oil has announced that it would return to Baringo County where its suspended operations after locals turned hostile. It stopped prospecting for oil in March over what villagers claimed was exclusion by the British-owned exploration firm. Edward Mungatana, a senior manager at Tullow, told a public forum yesterday that his company was willing to go back to resume the exploration, and that it cannot afford to be irresponsible.... Read more »

Posted on : Friday , 2nd September 2016

Engie Leads $20M Investment in Off-Grid Solar Startup Bboxx

French energy giant Engie was the lead investor in a Series C funding round for off-grid solar startup Bboxx to expand its presence in Kenya, Rwanda and beyond. The startup has 36 retail outlets in the two East African countries and expects to scale up to 400 retail shops in the next two years. The retail stores are franchised in the two countries, and there are also distribution networks in more than two dozen other.... Read more »

Posted on : Friday , 2nd September 2016

Kenya, Rwanda sign EPA deal in Brussels

Kenya and Rwanda have signed the Economic Partnership Agreement with the European Union taking a step closer to the deal whose conclusion is threatened by reluctant member states. Trade Ministers for Kenya and Rwanda signed the East African Community-European Union EPA agreement in Brussels, Belgium, yesterday. Tanzania, Burundi and Uganda have shown reluctance to sign the EPA deal on time to pave the way for its.... Read more »

Posted on : Friday , 2nd September 2016

Rwanda signs deal for new airport construction

RwandAir today launches its inaugural commercial flight to Benin’s capital of Cotonou (IATA: COO / ICAO: DBBB) operating to the Cardinal Bernadin Gantin International Airport, also known as Cadjehoun International Airport. This marks the start of a long planned expansion of destinations across Africa ahead of the delivery of additional aircraft due for delivery over the coming months which includes the addition of Abidjan at the.... Read more »

Posted on : Friday , 2nd September 2016

Plarning ahead: �Plastic yarn� project to provide sleeping mats to Kenyan villages

Got a little time on your hands and want to do some good? Join Kenya Relief and some local church members in crafting some much-needed necessities — items that will find their way to the impoverished Third World — out of plarn. What is plarn? Short for “plastic yarn,” plarn is made from pretty common, throwaway stuff: grocery bags. Snip off the handles, cut the bags into strips, and.... Read more »

Posted on : Thursday , 1st September 2016

Designing breakout points in workplaces

Cleverly decorated interiors and well-designed furniture in offices are increasingly becoming important to employees. The furniture and accessories in an office send a powerful message about the image of the company. Attractive workspaces and lounge areas signal that a firm invests in its workers. The traditional dull spaces painted in dark hues are being turned into livelier walls with bursts of colour. So is the.... Read more »

Posted on : Thursday , 1st September 2016

Preparation for geothermal drilling campaign under way in Ethiopia

Reported from Addis Ababa today, the Geological Survey of Ethiopia has announced that preparations are underway to begin drilling of 12 geothermal wells at Airobera, Alelobeda and Dubti areas in Afar Regional State. Tamiru Mersha, Communication Director at GSE, said drilling of the 325MW wells will begin this Ethiopian budget year. According to him, six wells will be drilled at Airobera and Alelobeda with the financial and.... Read more »

Posted on : Thursday , 1st September 2016

Renault to increase exports from India, eyes African market

French auto major Renault is looking to enhance exports from India to neighbouring countries and Africa as it seeks to make the country a manufacturing hub. "Last month we started exporting Duster and Kwid to Sri Lanka. This month we will be entering Nepal while we also prepare to enter Bhutan," Sumit Sawhney, country CEO and managing director, Renault India Operations, told PTI. Not only the.... Read more »

Posted on : Thursday , 1st September 2016

SA-made drone set to disrupt power sector

A power line inspection drone designed by local robotics engineers could be the answer to Eskom’s power cut woes, and has already piqued the interest of overseas governments. Durban engineers Trevor Lorimer and Timothy Rowell built the first prototype as part of a master’s degree project to develop the power line robot, which is almost ready to be produced for industrial use. The duo worked with Eskom and the.... Read more »

Posted on : Thursday , 1st September 2016

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