Market News Page No. 325| Africa Business News | Afrotrade

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Kenya: M-Pesa Diaspora Cash Inflows Hit Sh13.1 Billion

International money transfers on Safaricom's M-Pesa platform grew 64 per cent to Sh13.1 billion in the year ended March after the telco acquired a license from the Central Bank of Kenya (CBK) to offer outward cash remittances. Safaricom launched M-Pesa services in Tanzania in February 2015, followed by Rwanda three months later after receiving a cash remittance operating licence from the CBK in 2014. M-Pesa was previously.... Read more »

Posted on : Monday , 15th August 2016

Dam construction going full steam while Egypt-Ethiopia talks stall

BENISHANGUL-GUMUZ, Ethiopia — Ethiopia is seeking rapprochement with Egypt through the media after years of rising apprehension over the Grand Ethiopian Renaissance Dam of the Blue Nile watershed. The tension arose almost as soon as then-Ethiopian Prime Minister Meles Zenawi laid the foundation stone in April 2011 for the now almost-finished dam. Political and technical negotiations between the capitals, Cairo and.... Read more »

Posted on : Monday , 15th August 2016

Feature: Investment main driver for China-Africa cooperation

Wang Shusheng, from Hebei Province of Northern China, is occupied with his steel plant in Tanzania set to go into operation in October. Wang is the manager of Kiluwa Steel Group Co. Ltd, which covers an area of 300 acres, located in a remote land in Kibaha District, eastern Tanzania. The factory mainly produces screw-thread steel and wire rod, with a first-phase investment of about 200 million yuan (about 30 million U.S..... Read more »

Posted on : Monday , 15th August 2016

Kenya: U.S. Top Executives in Nairobi for Business

Executives of about a dozen high-powered US businesses are taking part in an investment-prospecting visit to Kenya from Sunday. The three-day trade mission reflects a growing US corporate determination not to be outpaced in Africa by China. The tour is organised by the Washington-based Corporate Council on Africa. Stephen Hayes, president and chief executive of that 180-member business association, is leading the delegation,.... Read more »

Posted on : Monday , 15th August 2016

Sh276mn spent on revamping health facilities in Nyamira

Over Sh276 million has been spent in revamping health facilities in Nyamira County. Governor John Nyagarama says they have pumped at least Sh211 million towards the purchase of hospital equipment. Germany, Finland and Global Fund added Sh65m worth of equipment said the Governor. The money excludes funds the County has used so far to establish additional 13 new health centres. The County has now 100 rural.... Read more »

Posted on : Monday , 15th August 2016

Kenya to Join Oil Producers Club

Kenya is set to join the ranks of oil producing nations after its government approved plans to extract up to 4,000 barrels per day from newly discovered reserves. African multinational oil and gas company Tullow Oil discovered crude deposits in the country's Turkana region in 2012 and is partnering with the country as it readies for full commercial exploration, CNBC reported. Tullow Oil estimated that a pilot scheme will allow 2,000 barrels of.... Read more »

Posted on : Monday , 15th August 2016

Kenya: Experts Explore New Way of Preventing HIV Contraction

Kenyans could soon use a simple injection of antibodies to prevent contracting HIV. A study by the Kenya Medical Research Institute titled "AMP (Antibody Mediated Prevention)" seeks to use antibodies to prevent the spread of HIV. "Traditionally in HIV vaccine studies, people get a vaccine and researchers wait to see if their bodies will make antibodies against HIV in response to the vaccine," said Dr Larry.... Read more »

Posted on : Monday , 15th August 2016

Cabinet okays ground work for production of 4,000 oil barrels daily

In that effort, the Cabinet approved Sh3.2 billion for the upgrading of the Lokichar-Leseru road to smooth the way for the transportation of a projected 2,000 to 4,000 barrels of oil a day from the Turkana oil fields to Eldoret from whence the oil will be transported to Mombasa for refining. “It is envisaged the crude oil will be transported by rail and road from Eldoret to Mombasa,” a press statement explained. It.... Read more »

Posted on : Monday , 15th August 2016

African Development Bank backs study into Tanzania hydropower and dam project

The African Development Bank (AfDB) said the grant being made available to Tanzania’s government is in principle to study the potential for building a 300-megawatt hydro generating facility on the river Ruhuhu in Kikonge, in the southwest of the country. If developed, the facility is expected to boost domestic electricity production in Tanzania by 53%, culminating in 1,300 gigawatt hours of production by 2025, said the.... Read more »

Posted on : Friday , 12th August 2016

Sh54m cable to step up Internet in Kisumu

Liquid Telecom Kenya is laying a Sh54 million metro fibre optic network in Kisumu that is expected to boost Internet speed ten-fold. The 12.4 km metro network will cover Kisumu Central Business District, Milimani, Kondele, Kibos, Kicomi and Migosi Junction. The network will be built in partnership with Kisumu County government and is in line with the goal of transforming the metropolis into a “smart.... Read more »

Posted on : Friday , 12th August 2016

Vodacom Tanzania targets SMEs with solution that grows business through tech

Tanzania’s integrated telecommunication service provider VODACOM Tanzania has launched a comprehensive communication solution targeting Small and Medium Enterprises (SMEs) with a focus on helping the SMEs grow their businesses through technology. Dubbed Vodacom for SME, the solution is an attempt by the telco to tap into the growing SME space in the country. The Minister for Industry Trade and Investment Charles.... Read more »

Posted on : Friday , 12th August 2016

Ethiopia: Projecting Technology-Based Change in Sugar Supply

Sugar sector is one of the major focus area that would play important role in the forthcoming political economy of the country. Currently, industrial development becomes an important component and the key direction of the government to shift from agriculture-led to industry-led economy. Thus, to hasten the development of the industry sector, the need for advanced technologies is very crucial. Recently, the Ministry of Science.... Read more »

Posted on : Friday , 12th August 2016

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