Market News Page No. 363| Africa Business News | Afrotrade

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Construction of Ethio-Kenya Road almost complete

The construction of Ethio-Kenya Road linking Kenya to Ethiopia is set to be completed soon; this is according to The Kenya National Highways Authority (KeNHA). Regional Director for Eastern Africa Resource Centre of the African Development Bank Group, Mr. Gabriel Negatu confirmed the reports and said that the road which covers 121km of Merille-Marsabit and 122km of Turbi-Moyale will have a very significant impact in regional.... Read more »

Posted on : Thursday , 12th May 2016

Tanzania: REA Scheme to Give Power to 6000 Villages

THE government has said nearly 6,000 villages will be connected with electricity through the Rural Energy Agency (REA) phase three. Deputy Minister for Energy and Minerals, Dr Medard Kalemani, told a parliamentary committee on Energy and Minerals when giving details of the implementation of REA budget in 2016/2017 fiscal year. The deputy minister said the implementation of the third phase would kick off after the end of phase II at the.... Read more »

Posted on : Saturday , 16th April 2016

Kenya: Portland Cement Seeks Partnership from Govt in Housing Deal

East African Portland Cement Company (EAPCC) may be wooing the government into a real estate deal after the company failed to get approval to sell part of their land last year. The listed cement maker's chief operating officer Albert Sigei told Lands Cabinet Secretary Prof Jacob Kaimenyi this week that the company was interested in partnering with government to put up low cost housing on its vast properties in Athi.... Read more »

Posted on : Saturday , 16th April 2016

Tanzania: Dar Committed to Transform to Semi-Industrial Nation

PRIME Minister Kassim Majaliwa has said the government is committed to develop industrial sector as a strategy to boost growth and propel Tanzania to join the league of middle income countries. The Premier told the Oman Minister for Commerce, Dr Ali Masoud Al Sunaidy in Dar es Salaam yesterday that the government was keen to attract private investments to promote industrialization, export and growth in line with the development agenda.... Read more »

Posted on : Saturday , 16th April 2016

Tanzania: B'moyo Port Construction to Create Numerous Jobs

LOCAL companies will benefit from a wide range of job and trade opportunities to be created as construction of the Bagamoyo Port begins next year, a top officer of Oman's State General Reserve Fund which finances the project has said. Mr Mohamed Al - Tooqi, the SGRF Country Manager said in Dar es Salaam yesterday that many local companies would be sub-contracted for construction works of a 10 billion US dollar (over 20trn/-) port and.... Read more »

Posted on : Saturday , 16th April 2016

Tanzania: Tobacco Farmers Set For Bumper Sh45 Billion Harvest

Chunya — Tobacco farmers in Chunya District are hoping for a bumper harvest with projections to rake in Sh45.24 billion in the 2015/16 farming season. Chairman of the Chunya District Tobacco Cooperative Union (Chutcu) Omary Iswijilo said yesterday a significant number of buyers had already placed orders for the golden leaf. At a general meeting held by the cooperative, he expressed optimism that despite the myriad.... Read more »

Posted on : Saturday , 16th April 2016

Ethiopia: Cornerstone Laid For Phase II of Hospital Construction

The cornerstone for the phase II construction of Tirunesh Beijing General Hospital was laid yesterday. The expansion is meant to provide special treatment to patients and would be undertaken on 5,750 square meter. Health Ministry Health Infrastructure Development Director Mekonnen Engida on the occasion said that the project is intended to give specialized maternal and child medical treatment. It is also aimed at providing residential.... Read more »

Posted on : Saturday , 16th April 2016

Kenya: Wheat Imports Increase to Sh35 Billion

Kenya's wheat imports hit Sh35.6 billion last year amid rising concerns by local farmers that millers are overlooking their produce. The farmers said millers are shunning their crop in favour of imports because oversupply in the international market has driven down wheat prices by more than 30 per cent since last year. "Millers are no longer buying wheat from farmers since their silos are full of imports," said Mr.... Read more »

Posted on : Thursday , 14th April 2016

Ethiopia: Stella Trade Secures Large Scale Gold Mining License

The extraction license is a first for Stella, as well as the host region, Gambella Stella Trade and Industry PLC has joined the league of four gold extractors operating in Ethiopia, after securing a large-scale gold mining license. This is a first for the company, as well as the host region of Gambella. While more than 80 companies are in the process of exploration, only four have obtained extraction licenses, according to this.... Read more »

Posted on : Thursday , 14th April 2016

Tanzania: Cement Firms Propose Increased Dividends

Dar es Salaam — Investors with Tanzania's two listed cement manufacturing firms are rubbing their hands in glee as the companies' boards of directors propose increased dividend payments from 2015 proceeds despite facing bitter competition from new markets entrants. The board of directors for Tanzania Portland Cement Company Limited (trading as Twiga) has proposed a Sh306 per share which is 14.6 per cent increase from the Sh267.... Read more »

Posted on : Thursday , 14th April 2016

Kenya: Sh21 Billion Wind Power Project to Help Local Community

Investors of the Sh21 billion wind power project at Baharini in Mpeketoni, have promised to create many jobs for locals. They said they will also establish a Sh15 million annual trust fund to support local communities. The wind harnessing plant is a project of a Kenyan firm Kenwind Holdings in partnership with Belgium's Electrawinds and the World Bank. The International Finance Corporation, World Bank's private sector.... Read more »

Posted on : Wednesday , 13th April 2016

UBA Invests U.S $25 Million in Zambia Agro Sector

THE United Bank of Africa (UBA) has invested over US$25 million in Zambia's Agriculture sector in the last three months of 2015 to support diversification programmes and grow the country's economy. UBA chief executive officer Stanley Ugwueze said the Bank had supported the country's agriculture sector by providing financial services of up to $25 million between October and December last year. Mr Ugwueze said in an interview.... Read more »

Posted on : Wednesday , 13th April 2016

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