Market News Page No. 324| Africa Business News | Afrotrade

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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

Dangote shakes Kenya�s cement market with Ethiopia imports

Nigeria’s Dangote Cement has started its shake-up of the Kenyan market with imports of the commodity from its plant in neighbouring Ethiopia as it prepares to establish a local manufacturing plant. Dangote’s targeting of the Kenyan consumer with low-cost cement from Ethiopia is expected to further drive retail prices downward in a market where they have remained static for nearly 10 years. Importing.... Read more »

Posted on : Wednesday , 31st August 2016

Egyptian Samcrete�s IDG studies developing industrial zones in KSA, Ethiopia

Industrial Development Group (IDG), the industrial arm of Egypt-based construction firm Samcrete, is studying developing major industrial zones in Ethiopia and Saudi Arabia. The move will be part of IDG’s strategy to expand businesses abroad. Sameh Attia, IDG’s managing director, said his firm is currently conducting studies on offers received from a number of investors to develop major industrial zones in Ethiopia and.... Read more »

Posted on : Wednesday , 31st August 2016

DR Congo ready for talks on Lake Tanganyika oil and gas prospects

Tanzania has said the government of the Democratic Republic of Congo has agreed to talks with four countries sharing the Lake Tanganyika to discuss ways of extracting natural gas and oil in the lake. Experts have warned that the lack of demarcated boundaries between countries sharing the lake could lead to disputes. It is understood that Tanzania and DR Congo have been at loggerheads over the proposal for the two.... Read more »

Posted on : Wednesday , 31st August 2016

Dream safari in the heart of Tanzania

Dar es Salaam - Set in the Selous Game Reserve, the largest in Africa, Azura Selous offers more than just your average safari. Previously consisting of just 11 luxury tents, each with private plunge pools overlooking the Ruaha River rapids, Azura has just launched Villa Twiga. It offers more privacy, a lot more opulence and additional outdoor areas, in comparison to the other tented villas, for guests to truly immerse.... Read more »

Posted on : Tuesday , 30th August 2016

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