Market News Page No. 339| Africa Business News | Afrotrade

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Sh126b joint Kenya-Ethiopia power line begins

Kenya and Ethiopia have started the construction of a Sh126 billion power line that will run between the two countries. The 1,045 kilometre line will have a transmitting capacity of 2,000MW and is expected to be completed by December 2018. Kenya Electricity Transmission Company (Ketraco) said of the 1,045 km power line, 600km will be in Kenya, while 445 will be in Ethiopia. The line will traverse Marsabit, Samburu,.... Read more »

Posted on : Thursday , 4th August 2016

Ethiopia: Gore-Teppi Road Project Gets Parliamentary Nod for U.S.$127 Million Korea Loan

Ethiopian Parliament, during its extraordinary session last week, approved a 127-million-dollar loan agreement with the Korea EXIM bank for the Gore-Tepi road connectivity improvement project. The poor condition non-paved road is planned to be upgraded to an asphalt concrete road at an average cost of nearly a million dollars a km. This stands way behind the record high Melka Jebdu to Dire Dawa road project, which cost.... Read more »

Posted on : Thursday , 4th August 2016

Africa: Rwanda Showing Risk-Averse Companies Africa's Investment Potential

Rwanda is one of the few nations bridging the gap between foreign investors and Africa, as increasingly positive actions are taken in the continent, economic myths will continue to be debunked. Foreign investors are frequently prone to basing decisions on their perception of a market, in the case of the Africa, these often lead to misconceptions such as a reliance on aid to improve its development, instead of active investments and.... Read more »

Posted on : Thursday , 4th August 2016

Tanzania Targets 100 Percent Sugar Output by 2020

Morogoro — The Prime Minister, Mr Kassim Majaliwa, has instructed sugar producing factories to put measures in place, which will ensure that sugar production capacity in the country stands at 100 per cent by 2020. Mr Majaliwa issued the directive in Morogoro yesterday when he visited the Mtibwa Sugar Factory where he underscored the need for local industries to increase production and avoid unnecessary imports. The PM said the.... Read more »

Posted on : Thursday , 4th August 2016

Kenya: The New Mining Frontier of East Africa

Nairobi — THE Kenya Mining Forum scheduled for next month in Nairobi will showcase why the East African country is the new mining frontier. Mining Cabinet Secretary, Dan Kazungu, says the government has recognised the mining industry is a key pillar for growth and economic transformation and thus is preparing the country for the next big wave of mining activity. "With just a handful of companies operating in the.... Read more »

Posted on : Thursday , 4th August 2016

Tanzania aims to complete oil pipeline from Uganda in 2020

Tanzania plans to complete construction of a crude oil pipeline from Uganda in 2020 at an estimated cost of $3.5 billion, its energy ministry said yesterday. Uganda said in April it would build a pipeline to ship out crude from its fields in the Albertine rift basin, through Tanzania rather than Kenya, which had wanted to secure the export route. Picking a route is vital for oil firms to make final investment decisions on.... Read more »

Posted on : Thursday , 4th August 2016

Kenya inks deal with France to boost electricity access

Kenya has inked a deal worth $37 million with France in a bid to add renewable power through mini grids. The deal is meant to boost electricity access to millions of Kenyans who are still not connected to the grid. “This 33 million euro financing will support the installation of renewable energy generation units (primarily solar photovoltaic, but also in some cases wind turbines) in 23 mini-grids currently powered by diesel.... Read more »

Posted on : Wednesday , 3rd August 2016

TTCL wins 1bn/- Tanroads tender for internet connection

The signing ceremony was witnessed by the Tanroads Chief Executive, Mr Patrick Mfugale and TTCL Chief Executive Officer, Dr Kamugisha Kazaura, in Dar es Salaam yesterday. Mr Mfugale said at the event that project to be completed in 12 months period is expected to boost efficiency of the agency. “Tanroads value experience and technical skills that TTCL has, particularly the use of the national fibre optic, thus the internet.... Read more »

Posted on : Wednesday , 3rd August 2016

Mobile Industry To Help In Economic Development: Tanzania Minister

Dar es Salaam – The government has urged mobile industry to play a major role in the economic development of Tanzania. Tanzania’s Minister of Works, Transport and Communication was speaking at the GSMA 360 Africa conference and said 18000 km of fibre-optic has been laid by the government for innovation and technology, and also for innovative solutions and services in the continent and across the world as well. Prof..... Read more »

Posted on : Wednesday , 3rd August 2016

Kenya: Matiang�i signs Sh3 billion deal to train medics

The state and the French government have agreed on a Sh3 billion funding project to train medics in local private and public universities, Education CS Fred Matiang’i (pictured) said yesterday. “I encourage scholars and researchers, regardless of whether their institutions are public or private, to submit proposals for this cheap funding that has come with low interest rates,” he said. Matiang’i.... Read more »

Posted on : Wednesday , 3rd August 2016

France lends Kenya sh3 7b for energy production

In a major boost to the country’s efforts to transition from dirty and expensive fossil fuel to clean energy, the wind and solar energy project is expected to reduce the average cost of electricity production by an average of 20 per cent. French Foreign Affairs Minister Jean Marc Ayrault, who is on an official visit to Kenya, witnessed the signing of the financing agreement at State House yesterday. The deal was signed by.... Read more »

Posted on : Wednesday , 3rd August 2016

Kenyan pastoralists get Sh7.7bn World Bank support

Pastoralists are set to benefit from a Sh7.7 billion World Bank loan expected to ease losses related to drought and disease. The financing is expected to cater for a range of activities including water provision, re-seeding of rangelands, animal vaccination and storing fodder to ensure increased yields for about 93,000 pastoralist households. Clashes between pastoralists over pasture and water have intensified in recent.... Read more »

Posted on : Wednesday , 3rd August 2016

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