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

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Akon Confirms Lighting Africa Initiative is Backed by $1B Credit Line from Chinese

Interview with Vlad TV, musician Akon discussed how his latest venture will help millions in Africa. Akon’s Lighting Africa Initiative hopes to bring electricity to 600 million people across the African continent. However, he reveals that he could not do it alone. The producer and R&B singer says he sought the aid of Chinese investors to get his project off the ground. “So I went to.... Read more »

Posted on : Wednesday , 31st August 2016

Easy bathroom budget renovations that add value

GIVING a fresh new look to an outdated bathroom can modernise and add value to a home without costing much. Sometimes all a bathroom needs is modern fixtures, a tile and grout scrub and a fresh coat of paint to transform it into a new space. This is according to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, who says renovations and contemporary remodelling of bathrooms are known to boost the marketability of a.... Read more »

Posted on : Wednesday , 31st August 2016

Kenya: Govt to Release Additional Sh20b for Lapsset, Says Ruto

The government will release Sh20 billion for the ongoing construction of Lamu Port South Sudan Ethiopia Transport (Lapsset) corridor project at Kililana in Lamu West. The money would be in addition to Sh15 billion already spent in funding the project, Deputy President William Ruto has said. Speaking at Mokowe, Faza, Witu and Mpeketoni during his last leg of a two-day tour of Lamu County, Mr Ruto assured residents that the.... Read more »

Posted on : Wednesday , 31st August 2016

County buys medical kit to boost healthcare

The equipment includes 50 digital blood pressure machines, nine stethoscopes, 25 manual blood pressure machines, three nebulisers, 16 gun thermometers and 50 digital thermometers. Also 34 beds, 25 mattresses, 10 suction machines, 10 trolleys, 10 couches and 10 screens. The equipment will be distributed to level 4, 3 and 2 hospitals and health centres in Mbeere North and South, Manyatta and Runyenjes sub-counties. Health Executive Pauline.... Read more »

Posted on : Wednesday , 31st August 2016

Doc off to Tanzania to help locals desperate for care

A local pediatrician is part of a team going to Tanzania in November to provide medical care to people in remote locations. Since 2010, Dr. Charlotte Foulston has made the trip every year, except 2013, to either Kenya or Tanzania. Each trip lasts about two or three weeks. “The goal of the trips is to provide some medical care to typically low-serviced areas,” said Foulston. There are generally medical.... Read more »

Posted on : Wednesday , 31st August 2016

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

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